By halifaxwebcam May 13, 2014 Leave a Comment

Dream TeamIf you’re considering a career as a Certified Public Accountant (CPA), the future looks bright.

According to the American Institute of CPAs (AICPA), even though the unemployment rate in the U.S. remains high, the demand for public accountants is unparalleled. A record 40,350 CPAs were hired in 2012 with 89% of public accounting firms who hired reporting they’ll need the same number or more new graduates in coming years.

The pipeline for new CPAs is flourishing, as well. The AICPA reports the number of accounting graduates is at an all-time high and enrollment in graduate and undergraduate accounting programs tops the charts, too.

A spokeswoman for the institute said future graduates will remain in demand because they’re essential to serving the needs of a complex and rapidly-changing business environment.

The report showed a 19.7% increase in the number of graduates over the previous year’s survey and both bachelor’s and master’s degrees conferred at a 40 year peak while enrollment in these programs is the highest it’s ever been.

The Bureau of Labor Statistics (BLS) Occupational Outlook Handbook for the same period confirms results of the AICPA survey. The BLS predicts job growth of 16% for accountants and auditors over the next decade.

The AICPA says employers will want CPAs with advanced degrees to meet their growing business and finance challenges.

To become a CPA, you’ll need at least a bachelor’s degree plus an additional 120 hours of education and you’ll need to pass an exam in your jurisdiction to be certified. Because of the post-graduate education requirements for CPAs, earning a master’s in accounting is a good route to take.

In brief, the duties of a CPA involve reporting and analysis of financial data for organizations and individuals.

Among the responsibilities of a public accountant are a variety of tasks in the very heart of financial management. CPAs maintain company financial records and perform audits of them. They oversee the budget and other aspects of a group or individual’s finances.

Bookkeeping and preparation of government reports and taxes are among the key roles performed by CPAs. Public accountants are critical members of the team when it comes to making business decisions. They advise clients as they plan for the future and on tax ramifications of key choices.

Naturally, tax preparation is an important role, as well as budgeting. They consult with company executives when decisions regarding worker compensation and benefits are made and they also play an important role when protection of assets is the question.

CPAs perform audits to uncover errors, seek out misinformation and overspending and avoid fraudulent practices. They identify and investigate variations in spending and revenue.

Their role in strategic planning is one of the key reasons that public accountants are in demand in the constantly changing economic environment.

With new international economic powers entering the picture and with technological advances changing the way people work and what products can find a market, the demand for public accountants is likely to continue to rise. That means your future, as a CPA, has strong prospects.

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