Good News/Bad News

For the first time since 2005, senior-level CPAs are sour on the economy. The latest Business and Industry Economic Outlook Survey of the AICPA and the University of North Carolina's Kenan- Flagler Business School found 59 percent of them were pessimistic or very pessimistic about the economic outlook for the U.S. over the next 12 months. Only 11 percent were optimistic.

But - and it's an interesting "but" - 46 percent were optimistic or very optimistic about their organization's economic prospects, while just 21 percent were pessimistic or very pessimistic. Most organizations still expect some growth in revenue, profits and employment, the survey found.

Here's the AICPA's press release (PDF)