The growing demands of CPA have led the market to expect more from the Accountants of the present time. Being a CPA is not just as easy as it seems. When you come in the professional field you come to know that being a graduate is not all that you need to be working as an accountant. But students still know the value of becoming a CPA. Thus bachelors’ degree is the first step to enter this field. This demands you to have a degree of four years i.e. passing 24 semesters of auditing and accounting. After you have completed it now you have qualified to enter the professional life at the entry level. This criterion is set by Federal and several State governments. Numbers of years of work experience add a positive point to your resume and we have seen some of the employer hire people for the position of an accountant with some other combinations of subjects.
Qualification
If you want to work as an independent advisor of accounts and taxation you need to have the follow to Qualify for it:
1. Certification from American Institute of Certified Public Accountants, AICPA
2. License from your State Board of Accountancy
Passing your exams to be a CPA is not enough you need to have ability to handle responsibilities because you will need to follow the instruction of the businesses. Tax planning, auditing, investment analysis, HR analysis, scrutinizing financial embezzlement and organized crime would be the goals that you have to achieve as a professional. CPAs have restrictions while they are auditing but they have no restriction during internal audits.
Qualities of a CPA according to the present requirements:
Along with the studies and experience the present time demands the following abilities and capabilities in an accountant to provide better financial accounting services:
- Strong analytical abilities
- aptitude for mathematics
- ability to critically analyze data
- ability draw comparisons
- quick interpretation figures
- quick decision making power
- deducing power of drawing results
- computer skills
- should be able to draw stock analysis
- knowledge of micro and macroeconomics
- interpersonal skills
Changing demands of accountants
The changing demands of accounting reveal the trends in the field of accounting:
- 1. BS in accounting
Bs degree is not necessary to enter this field. Even an associate degree can help you be paraprofessional accountant. Recent studies show that 96 % of the accountants are paraprofessional accountants having a 2 year degree programs.
- 2. Market demand for Bs accountants
The current demand from the federal and state government is that it requires the accountant to complete 4 years of degree program. Thus the accounts are short in the market even in the times of recession there are plenty of opportunities open for them. This is the reason that they demand whatever they want to for the employers and the business. This is the reason that they not only get good salary packages but also qualify for other benefits.
The change in the market demands are opening ways for more and more accountants to study and practice accounts. Therefore we are leading to have better accounting services provided to the market.
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