Are you thinking about a career in accounting or at least exploring the possibility? In this post, Mike Metzcar, Assistant Professor of Accounting and Finance in the DeVoe School of Business, explains why he believes accounting is an exceptional career choice. Read on to learn more about what a CPA is, how to become a CPA, and what to know about the CPA exam.
Why should I consider an accounting degree?
Individuals who become accountants are known for being well organized, logical, and rational. They are expected to conduct themselves with high ethical standards and make decisions that are in the best interests of their employers or clients. Accountants in all industries are highly regarded for their objectivity and neutrality.
You do not have to be a math whiz to become an accountant. With today’s technology much of the number crunching is completed by computers, allowing the accountant to provide financial analysis and guidance to the employer or to the client. Accountants are needed at all levels of government, non-profits and all industries. Accounting opportunities include financial statement preparation, managerial accounting in manufacturing, tax preparation and more.
Why is becoming a Certified Public Accountant important?
Certified Public Accountants (CPAs) are an elite group of professionals who are respected by their employers, clients, and the general population. They have taken years of academic and technical training and prepared for and passed a rigorous exam. CPAs must be licensed by the state in which they practice. Once an individual becomes a CPA, they are required to complete 40 continuing professional education hours annually to maintain their state license. To provide auditing services and other attestation services as a CPA, the accountant must hold a valid CPA license.
Government, industry, and not-for-profit businesses have a continuing demand for the skills of the CPA. This leads to job security and advancement opportunities for individuals who are CPAs. CPAs have many opportunities to diversify their skills. These various career paths include auditing, business and management consulting, forensic accounting, and information technology. CPAs have significant job satisfaction because the CPA makes a difference within the organization. Finally, CPAs are in demand and earn significantly more compensation than those accountants who have not obtained the distinction of being a CPA.
What do I have to do to become a Certified Public Accountant?
Although you are not required to be a Certified Public Accountant (CPA) to work in the accounting profession, there are advantages to becoming a CPA. To become a licensed CPA, you must pass a rigorous four-part examination. Each state has their own requirements for issuing a CPA license to a qualified candidate. Generally, the accounting candidate must have completed 24 semester hours of undergraduate accounting courses and 24 semester undergraduate hours in specific business courses. Note that the education requirements vary by state. Additionally, to qualify to apply for admission to the CPA exam process, the candidate must have completed a total of 150 undergraduate hours. The additional credit hours beyond the approximately 124-hour undergraduate degree may be acquired as a 5th year at the undergraduate level or by completing a master’s degree. For more information on becoming a CPA, visit the following website hosted by the American Institute of Certified Public Accountants: https://www.aicpa.org/becomeacpa/
If I decide to become a CPA, how can I best prepare for the certification exam?
The final element in becoming a Certified Public Accountant, after completing the educational requirements, is passing the four-part exam. Most exam candidates choose to enroll in a CPA review course. There are many excellent CPA review courses available to the prospective candidate. The formats include on-site, online and self-study. To find additional information and pricing for CPA review courses, search online for CPA review courses. To learn more about the process for applying for the exam, go to the following website hosted by the National Association of State Boards of Accountancy (NASBA).
To learn more about accounting programs at IWU–National and Global, visit iwubusiness.com.