By DeVry University
The information presented here is true and accurate as of the date of publication. DeVry’s programmatic offerings and their accreditations are subject to change. Please refer to the current academic catalog for details.
January 10, 2024
12 min read
Every business needs to track its finances, create financial reports for review by internal or external stakeholders and keep track of taxes paid to federal, state or local authorities. This work is done by accountants and auditors. Because accounting is an essential function of any business, accountants and auditors may find employment in private-sector corporations, nonprofits, government agencies and other public-sector organizations, or they can be self-employed. If you’re considering a career in accounting, it’s important for you to understand the considerable breadth of this occupation and how its various fields and specializations may align with your personal and professional goals.
When planning your career, remember that titles may vary by employer and some roles may require years of experience or additional qualifications.
The work environment for accountants will vary according to the type of work they do. Most accountants work in an office environment, but some work from home and others may travel to visit clients.
Each exam section is taken separately and, once you’ve passed all 4 sections, you may be required to take an additional ethics examination required by your state before applying for your state-issued CPA license.
According to BLS, all states require CPA candidates to complete 150 semester hours of college coursework to be licensed and to take continuing education courses, including ethics courses, to maintain licensure. Furthermore, to retain your certification and AICPA membership, you must meet certain continuing professional education (CPE) requirements.
If you’ve already earned an undergraduate degree in accounting or finance, our Graduate Certificate in Accounting Certification Preparation program with a Certified Public Accountant (CPA) Exam Preparation Emphasis can help prepare you for the CPA exam.1 This career-focused program can help you earn the academic credits required to take the CPA Exam and includes courses that integrate Becker Professional Education’s CPA Exam Review.
Please keep in mind that job requirements vary by employer and employment in some of these occupations may require years of relevant experience.
As mentioned above, remember that job requirements vary by employer and employment in some of these occupations may require years of relevant experience.
1Credits and degrees earned from this institution do not automatically qualify the holder to participate in professional licensing exams to practice certain professions. Persons interested in practicing a regulated profession must contact the appropriate state regulatory agency for their field of interest. For instance, typically 150 credit hours or education are required to meet state regulatory agency education requirements for CPA licensure. Coursework may qualify for credit towards the State Board of Accountancy requirements. However, it is the student’s responsibility to contact the state board of accountancy for the jurisdiction in which they are applying to determine whether they have completed the appropriate credit hours and coursework to qualify to take the CPA exam. Employees of DeVry University and its Keller Graduate School of Management are not in a position to determine an individual’s eligibility to take the CPA exam or satisfy licensing.
2https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm#tab-1Growth projected on a national level. Local growth will vary by location. BLS projections are not specific to DeVry University students or graduates and may include earners at all stages of their career and not just entry level.
3Program, course and extended classroom availability vary by location. In site-based programs, students will be required to take a substantial amount of coursework online to complete their program.
FAQs
The U.S. Bureau of Labor Statistics (BLS) projects employment of accountants and auditors to grow 4% from 2022 to 2032, with about 126,500 job openings each year, on average, over this period.
Are accounting degrees in high demand? ›
The demand for skilled talent in finance and accounting remains high in mid-2024. That means employers must intensify their efforts to hire and retain both long-term and short-term talent if they want to meet their hiring goals in the months ahead.
Is accounting college worth it? ›
According to a 2022 Georgetown Center on Education and the Workforce report, which analyzed business programs at more than 1,700 institutions, accounting degree holders at all levels have a higher-than-average annual income net of debt payment just two years after graduating.
Is accounting still a good career choice? ›
The Bureau of Labor Statistics projects 4.4% employment growth for accountants between 2022 and 2032. In that period, an estimated 67,400 jobs should open up. An accountant is a person who keeps or inspects financial records. These professionals are organized and detail-oriented.
Is accounting a good major for the future? ›
Yes, an accounting major is a good major for many undergraduate students. The Bureau of Labor Statistics is projecting 8% job growth in business and financial occupations over the next 10 years. Common careers in the field include financial managers, analysts,, and accountants.
Is there a demand for accountants in the future? ›
Accountants claimed the top spot in FlexJobs' 2024 ranking of the top remote jobs in the U.S., thanks to increasing demand for these skilled professionals across several industries, including finance, health care and government.
Do accountants make 6 figures? ›
With the right amount of experience, being a certified public accountant can mean an eventual position as a chief financial officer (CFO) or a highly-paid tax accountant. A CPA's salary usually reaches the high five figures while senior CPAs in management can earn a six-figure salary.
Which field of accounting makes the most money? ›
Top 10 Highest Paying Accounting Careers
- 1) Financial Controller.
- 2) CMA (Certified Management Accountant)
- 3) Chartered Accountant.
- 4) Bank Branch Manager.
- 5) CGA (Certified General Accountant)
- 6) Senior Accountant.
- 7) Financial Analyst.
- 8) Credit Supervisor.
The Job Outlook for Non-CPA Accountants
“It's rare to have a client who only wants someone with a CPA,” says Campman, “and that's true across all industries.” The healthcare, consumer products and financial services industries are the top market drivers. Roles that don't require the CPA include: Staff accountant.
Is CPA still worth it in 2024? ›
Job Security and Growth
The Bureau of Labor Statistics expects a 4% employment growth for accountants and auditors from 2022 to 2032. Interestingly enough, it exceeds the average growth for all occupations. We can count on seeing a continued demand for skilled specialists.
Earning a degree in accounting can be challenging due to the complex nature of the subject matter, however it is not necessarily categorized as math-heavy. Students who are dedicated, diligent, and hard-working can successfully earn an accounting degree.
Is accounting going to be replaced by AI? ›
However, the question remains: will AI eventually replace accountants and bookkeepers with automation? The quick answer is, no — not any time even remotely soon. But accountants and bookkeepers need to understand both AI and automation in order to do their jobs as effectively as possible. Keep reading to find out more.
Why is no one going into accounting? ›
Higher starting salaries with other majors was the top reason why non-accounting majors who had considered the field decided against it, according to a survey of nearly 500 students this spring by the Center for Audit Quality, an industry group.
What is the hardest part of being an accountant? ›
Being an accountant means more than just working with numbers on a daily basis.
- Lengthy education. ...
- Additional certifications. ...
- Continuing education. ...
- Work hours. ...
- Tedious work. ...
- Office work. ...
- Stress. ...
- Work-life balance. In high-level positions such as a Big Four job, work-life balance may be hard to maintain.
Accountants often work overtime to ensure they meet deadlines, especially when auditing a company or doing taxes for clients during the busy season. These long hours cause stress and burnout, which can lead to mental health problems, especially when the accountant isn't able to spend time with family and friends.
Is there a shortage of accounting majors? ›
There are 340,000 fewer accountants than five years ago, according to a Bloomberg analysis of data from the Bureau of Labor Statistics, leaving the U.S. with only 1.6 million. And the talent pipeline is drying up. The number of candidates taking the CPA exam is the lowest since 2006.
Why are accounting majors declining? ›
Fewer people are leaving college with a bachelor's or master's in accounting as the shortage worsens. The pool of U.S. students who completed accounting degrees dropped sharply in the latest available academic year as more workers in the profession retire without an adequate pipeline of entrants to fill the gap.
Is accounting a good major for money? ›
How does the earning potential compare to other fields? Accounting offers competitive earning potential, especially as you gain experience and professional certifications (like CPA). Salaries vary based on location, industry, and specialization, but accounting professionals are generally well-compensated.
How employable is an accounting degree? ›
You can qualify for many jobs with an accounting degree. Entry-level positions include bookkeeper and auditing or accounting clerk roles. With more experience or training, you can earn CPA or CMA certification. Among other paths, you can also pursue a career as an actuary, auditor, financial manager, or budget analyst.
