When a person opts to pursue a career in accounting, their ultimate goal should be to become a certified public accountant.
Certified Public Accountants (CPAs) provide advice to individuals, businesses, financial institutions, non-profit organizations, and government agencies on a wide range of financial and related matters.
The benefits are immeasurable; Companies from all walks of life, non-profit organizations, public accounting firms, and governments around the world turn to CPAs to meet their needs. Companies are now looking for junior accountants with CPA status or recent graduates in accounting who are studying for the exam and may have gone through some sections. Having a CPA license can offer the following benefits:
Prestige And Respect.
Respected and admired by their peers, customers, and the general population, CPAs are often seen as a group of elite professionals. After years of academic and technical training, and passing the rigorous CPA exam, the ethics and character of a CPA are tested with several years of on-the-job training. These people achieve a level of experience and expertise superior to that of a "standard" accountant, with the CPA designating them with pride.
Career Development
Winning the CPA exam and getting the CPA license allows people to stand out from potential employers, who are often impressed by the accountants who get the coveted title. Obtaining a CPA license demonstrates a commitment to the profession and often highlights potential candidates for leadership and management positions. A CPA license is also required for those who want higher levels of authority and responsibility. It is not unusual for experienced accountants to go back to school to get a master's degree in accounting so you can start the journey and become a licensed CPA.
Security In Progress
CPAs are more in demand than ever, and this does not seem to change in the short term. One reason for the increase in demand for CPAs is that in the 1990s, there was a drop in accounting students when the Internet grew, and students chose to look for jobs in IT and marketing. Also, the Sarbanes-Oxley law was passed in 2002, and this law has increased the need for qualified CPAs to enforce the highest standards of corporate public accounting. Finally, the Baby Boomers are retiring and are leaving a huge gap in the market, something that is felt in the academic world as more and more accounting professors retire.
Satisfaction At Work
CPAs are often multi-talented professionals who perform a combination of highly specialized job functions that include auditing, business consulting and management, information technology (IT), international financial reporting and tax advisory services, to name only some. With the various courses available as CPAs, such as the CPA forensics, it allows people to make a difference in the areas, based on the skills acquired and the desires that would enable them to be satisfied with their work. Especially with the millennial dispensation of CPAs, the accounting profession offers these people unique advantages to be returned to society, which they greatly value.
Moreover, with the spread of globalization, the accounting environment is changing. CPAs have more opportunities to travel around the world and gain experience in international affairs, especially those that are multilingual and multicultural.
Money And Benefits
When choosing a career, many people consider the potential for salary and benefits as important criteria together with a passion for work. Fortunately, for those considering CPA licenses, there are many careers that people can follow: public accounting, government, non-profit organizations, industry, etc. Being a CPA is not just a title; it's a series of tasks and stepping Stones that will culminate in an incredible work. If the variety of what the CPA license can bring to professional development is not convincing enough, look at the latest statistics on earnings and employment in the CPA:
• You will get 10-15% more if you have your CPA license.
The Department of Labor and Statistics states that the use of accountants and auditors will grow rapidly than the average of all occupations by 2024.
Overcome The Obstacles
Anyone who has obtained the CPA license or is about to take the CPA exam knows the difficulty of the testing process. There is a significant investment in money and time, but who completed the trip said it was worth it.
There are four parts in the CPA exam that require hundreds of hours of thorough preparation. An applicant can take live or online classes, and many companies offer review courses. The registration process is specific, and fees for exams can be expensive. Basically, your life is suspended for a while if you're serious about going. After passing the first part, the clock begins to dial. Applicants must approve the four parts within 18 months from the date the first part was approved. The disappointment can occur when, after putting all that time and money, a part is not passed to the first or second attempt. As scary as it is, do not give up. Every time you have to go back and review the material, you acquire more knowledge and eventually get the four parts approved. The euphoria you hear will evaluate all the work and investments. Your achievement for all that time and money will be the CPA designation after your name, job security and probably a high salary increase!
Becoming a CPA is an excellent idea for many accounting professionals, but it makes more sense for those who intend to go up the ladder. Employers require a CPA for many high-level financial positions because they demonstrate that a candidate has ambition and intelligence. Thus the greatest monetary benefits of a CPA can come years later. CPAs in non-managerial positions can expect earnings up to 15% more than their peers, but they can also expect more hours, more responsibilities and pressures.
Clear Cut Tax & Accounting LLC