Pessimism, tariff tremors prominent in CPA execs’ sentiment

Journal of Accountancy Podcast

Sentiment about the U.S. economy and CPA decision-makers’ organizations continues to decline in 2025. Second-quarter results released Thursday by the AICPA and CIMA show a rising percentage of pessimists and more concern about the affects of tariffs. To analyze the results further, the JofA podcast welcomed back Ken Witt, CPA, CGMA, associate director–Management Accounting Research & Development.

In last quarter’s Economic Outlook Survey, half of respondents were optimistic about their company’s outlook for the next year. This quarter, that percentage dropped to 37% — and it’s not the only area in which there is a decline.

Related resources:

n JofA article on how finance leaders are countering tariff volatility.

n The AICPA and CIMA’s tariff resource center.

n The previous quarter’s podcast discussion with Witt.

What you’ll learn from this episode:

· The declines in domestic economic sentiment and own-company optimism.

· Where optimism about the global economy stands.

· Changes in the list of top challenges facing CPA decision-makers.

· The “big topic” in this quarter’s survey.

· An assessment of the impact of tariffs on respondents’ business planning.

· A summary of respondents’ 12-month projections for revenue, profits, and spending.