While many people in America are struggling to find work, certified public accountants remain in demand. This is one of the fields in which quality education and training can definitively lead to a solid career. Not only are companies searching for qualified candidates now; studies are showing that the demand for CPAs will continue to rise through the next several years.
Accountants are in demand
According to the Bureau of Labor Statistics, the demand for accounting positions will increase 22% between 2008 and 2018. If this holds true, it means that approximately 500,000 accountant jobs will be created. The rise of accounting positions reflects both sides of the economy. For firms that are downsizing, accountants are needed to minimize spending and optimize resources. For companies that are in recovery and aiming to excel with new profit margins, additional accountants are clearly needed to manage the increased monetary flow. The Association of Chartered Certified Accountants is also predicting steady job growth, due to the increasing global need for accounting professionals.
Quality accounting training can lead to a respected career
Many degree and professional training programs promise plentiful career opportunities, but they are not always specific as to which industry is hiring or what the salary range could be. Because of the tremendous job growth in the accounting sector, education and training does lead to a stable career. In fact, most accounting graduates are able to enter the workforce with a solid middle income salary.
Further, companies have an interest in maintaining accountants for the long term, since this leads to consistency in numbers and the accountant’s ability to gain perspective with experience. With companies making the effort toward retention in addition to an already excellent job market, accountants are in a unique position to define their careers.
Benefits to becoming a CPA
There are numerous benefits to taking your accounting degree a step further and earning a CPA license. In day-to-day life, the working environment of a CPA is enviable.
- Work typically takes place within a quiet, calm office setting.
- CPAs are able to dress professionally or in business casual clothes.
- Other employees count on the CPA’s knowledge and expertise, and they have respect for the position accordingly. In this way, the accountant gains many possibilities for developing strong networking ties with those around them.
- A CPA has learned all of the techniques for saving money on their own taxes. They can even help friends or relatives with tips and do consulting work on the side if desired.
Money management skills do not come naturally to many people. By becoming an expert in these skills, a CPA can provide personal financial stability while serving as a trusted resource to friends, family and colleagues.
Sadly, many professional Americans are unable to utilize their skills due to the national economic position. Often, people invest in degree or training programs only to find out that the job prospects after graduation are few and far between. In accounting, however, this is not the case. As global competition rises across industry, those who can maximize resources and keep track of budgets are pivotal in the success of a company. Accountants who serve as internal auditors also help companies avoid penalty fees or lost time due to a lengthy external audit. Internal auditors often find cost-cutting measures for daily company activities as well.
The future of accounting
While the American economy continues to struggle and the global economy continues to show cause for concern, accounting is a career that weathers good and bad times. In many ways, accountants are more necessary when times are difficult. They are able to crunch the numbers and, in doing so, effectively reduce costs and balance a company’s cash flow.
In the wake of a double-dip recession, companies will continue to value solid internal accounting in order to avoid excesses in spending. Unlike the boom of real estate in the 1980s or technology in the ’90s, these days business decisions carefully take into account the uncertain market prospects. Due diligence in tracking a budget is not only laudable; it is a basic, everyday business strategy.
Start your career as a CPA
Now is clearly a great time to choose a career as an accountant and earn a CPA license. After graduating, The next step in becoming a CPA is to determine what areas of accounting you may need a refresher on, then determine what CPA review courses can satisfy your needs. Rest assured the road to preparing for the exam is not an easy one, but unlike many careers in which actual employment prospects are uncertain, accounting provides an excellent career path with solid future potential. If you have a knack with numbers or the desire to gain solid monetary knowledge and respect, a career as a Certified Public Accountant can provide you with a great opportunity. Not only will you become a trusted colleague who can effectively manage cash flow data, you will be a trusted resource for your family and friends.
This post is by Grant Webb of Bisk Education.