By DeVry University
December 21, 2022
5 min read
December 21, 2022
5 min read
Because the need to track finances and expenditures is universal across the spectrum of business, an accounting degree can be applied in many ways. So, what can you do with an accounting degree?
An accounting degree can prepare you with a variety of skills that are used across many different professions within the financial service industry as well as many other fields. Depending on their needs, large and small businesses, nonprofit organizations and government agencies may choose to staff an accounting department, employ a single accountant or outsource this function to a bookkeeping or accounting firm, giving you a wide array of potential career paths and work environments to consider.
There are several areas of specialty for auditors. Public auditors work with documents that clients are required by law to disclose or provide to potential investors. Forensic auditors combine knowledge of accounting, finance and law with investigative techniques to determine if a financial or business activity is legal. Internal auditors check for mismanagement of company funds and identify ways to find and eliminate waste and fraud. Investors and government agencies rely on external auditors to draw up unbiased and independent reports.
That depends on the career path you choose. If you want to become a CPA, it’s important to know that, according to the U.S. Bureau of Labor Statistics (BLS), all state boards require 150 credit hours of post-secondary education in order to sit for the CPA exam. This exceeds the number of credit hours you’d earn in a typical bachelor’s degree program, so pursuing an MBA or master’s degree is a good option to consider.
Accounting-related jobs such as Accounting Clerk, Accounting Assistant, Bookkeeper and Auditing Clerk typically do not require you to be a CPA, but may have their own specific requirements.
As described above, the CPA is a widely known certification in this field, and employers may require you to obtain this certification to work as an accountant. Other, more specialized accounting certifications include the Certified Fraud Examiner (CFE), Certified Internal Auditor (CIA), Certified Management Accountant (CMA) and Chartered Global Management Accountant (CGMA).
The best way to answer that question is to evaluate your own professional and education goals. A more objective approach is to take a look at the occupational outlook for accounting-related employment. If you’re asking whether this profession will remain essential in the next several years, the BLS, projects employment for accountants and auditors to hold steady at 4% growth from 2022 to 2032, with about 126,500 job openings projected each year, on average, over the decade.2 This growth is projected on a national level and local growth will vary by location. This projection is not specific to DeVry University graduates and may include earners at all stages of their careers.
The question is, would accounting be a good career for you? There is no singular pathway to any career. If you consider yourself a problem solver, possess good math skills and have a natural desire to help organizations and individuals succeed financially, then it’s likely that you would find a career in accounting to be a good fit for you.
Because each individual brings their own unique attributes and natural abilities to every challenge, the degree of difficulty involved with any academic or professional pursuit is somewhat subjective. Some might find the required math coursework to be challenging, while others would be more challenged by the communications skills or humanities elements of the curriculum. If you apply yourself, take advantage of the tools and resources DeVry offers and adopt a goal-oriented mindset, you can absolutely pursue your dreams of becoming an accountant.
The short answer here is no. Many roles outside the realm of public accounting, including staff accountant, accounts receivable or payable specialist, or senior accountant, don’t require you to become a CPA (which involves obtaining licensure and passing an exam.)
The BLS notes, however, that any accountant who files a report with the Securities and Exchange Commission (SEC) is required to be a licensed CPA, and details several certifications may help accountants in non-public accounting roles to advance their careers. The Certified Management Accountant (CMA), for example, is offered by the Institute of Management Accountants to applicants who complete a bachelor’s degree, gain work experience in management accounting, pass the CMA exam and meet continuing education requirements.
1 Credits 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.
2 https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
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