five notions you can help correct.
by 卡塔尔世界杯常规比赛时间 research
the national pipeline advisory group is worried about the pre-professional pipeline that takes in students at one end and, years later, pumps cpas to a business world that desperately needs them.
more: whole person retention: when it’s not just the money | global trends show many dissatisfied cpas | more big firms shut their doors to new college grads | seven enticements to keep talent on board | employee retention is easier than attraction | let interns fix the staffing shortage? | disruptors: talent crisis? what talent crisis? | three ways to raise the bar for your business
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and there’s plenty of reason to worry. the number of students majoring in accountancy is in steady decline, dropping from 75,153 diplomas in 2018 to 62,318 in 2022.
the number of candidates for the cpa exam is also dropping. it dipped 6 percent in 2023 after a 7 percent dip the year before.
meanwhile, baby boomers are bowing out of the profession in droves. and they are being followed by younger professionals who, for various reasons, are abandoning the profession for greener pasture elsewhere.
big trouble
the profession and the pipeline that feeds it are both in big trouble. and the npag, an independent organization linked to the american institute of cpas, has the task of finding a solution.
a solution? no. solutions. many of them. because that’s what it will take to keep the profession from withering away – lots and lots of solutions from lots and lots of stakeholders.
we’re looking at you, 卡塔尔世界杯常规比赛时间 members. you are, by definition, among the most informed and proactive stakeholders in the accounting industry. some of the solutions are going to have to come from you.
so pay attention.
the pipeline pledge
a draft report from the npag offers a good start on solutions. one is an optimistic call for cpas to take the “pipeline pledge” at accountingpipeline.org.
the basic pledge is to participate in at least two outreach or other pipeline growth activities each year.
where to reach out? it can be anywhere from a junior achievement meeting to a career day at a junior high school to a guest lecture at a college.
what to reach out with? a good place to start is with a clarification of common misperceptions about the accounting profession. here are a few:
- very young students may have no idea what accountants do, other than, like, maybe, what … count money? with some creative storytelling, a practicing accountant can open eyes to a wider world. (suggested reading: “the accounting game: learn the basics of financial accounting – as easy as running a lemonade stand,” by darrell mullis and judith orloff.)
- older students often think cpas do nothing other than tax work and audits. they need to know that accountants can be involved in criminal investigations, small business guidance, government oversight, defense of human rights, environmental protection and so many other areas of interest to the gen z at the inflow end of the pipe.
- many students have little idea that, just as money is the blood that feeds and flows through the arteries of the economy, accountants, too, are everywhere. they work in not-for-profits, governments, the military, multinational corporations, small businesses, information technology, unions, academia, hospitals and, well, every other area of the economy.
- pre-professionals tend to imagine business executives venturing out into the exciting world of business while accountants sit in back rooms, crunching numbers all day and into the night, then go home to sleep, perchance to dream of yet more numbers. this misperception can be clarified with examples of cpas working with people, flying to foreign offices, advising c-suite leaders and helping communities deal with local issues.
- too many students imagine cpas to be quiet, meek people who don’t contribute much to the real world. even if they never go into accounting, the students need to understand that cpas are of great value to society. they keep the economy stable. they keep people employed. they protect the public interest. they fight fraud, explain the financial side of serious issues, make tax systems work, advance the missions of charities, record the past, predict the future and so much more to make the world a better place.
imagine
the united states has over 675,000 cpas. imagine if each one reached out twice a year to enlighten young people about the nature of the profession. how many more students would opt for a career in accounting? it might be years before the results graduate out of the pipeline, but it might be never if no one inspires them at an early age.