The accounting profession is one with high growth opportunity and can result in a successful career. According to the Bureau of Labor Statistics, the need for accountants is predicted to grow 16% from 2010 to 2020. For recent or soon to be accounting graduates, this means an additional 200,000 jobs coming available. Not to mention the number of baby boomers that are retiring at record levels. The U.S. needs accountants more now than ever before. The same can be said about any business or company.
One of the greatest parts about being an accountant is the ability to work for the industry of your choosing. Explore the music industry and be a personal financial planner for a rock star. Or start your own firm and help local businesses balance their books. The choice is yours. The opportunities are endless. While the typical person will change careers a minimum of twice in their lifetime, an accountant never needs to change careers. They can easily switch industries and still be an accountant; combining their love of accountancy with the industry they are in and still earn a very respectable CPA salary.
Obtaining your CPA credential can open even more doors and create more opportunities in the field of accounting. Passing the Uniform CPA Exam comes first. Each state has their own requirements for CPA licensure and therefore the CPA Exam. Thankfully, most of them have adopted identical or similar necessities through the National Association of State Boards of Accountancy. As such, most states currently need a minimum of 150 hours of education and in some states, specific accounting courses.
The hardest part for many is not completing the education requirements; it’s passing the exam itself. Most examinees take a CPA review course to assist their studies and nearly all licensed CPAs did the same. These CPA review courses help the examinee identify their strengths and weaknesses. The CPA Exam is split into four sections. Once you pass all four sections and meet your state’s experience and ethics requirement, you will be ready to apply for and acquire your CPA license. Don’t be mistaken, there is a difference between applying to sit for the CPA Exam and applying for CPA licensure.
Yes, there are ample opportunities for recent graduates to find employment as an accountant but truth be told, there’s a roof to the income you can earn. Becoming a CPA as a result of passing the Uniform CPA exam offers much higher income potential and if you think about it, you’ve just graduated, your education is still fresh on your mind so this is the best possible time in your young life to prepare for and take the CPA Exam.