Enrollment in undergraduate and postgraduate accounting programs for the 2015-2016 school year totaled more than 250,000, maintaining the record level of 2013-2014. This was mainly due to a record level of undergraduate enrollment. From the demand side, the recruitment of new graduates in accounting firms has declined from the record level seen in 2014. This is according to reports 2017 Trends in the provision of graduates and the demand for public accounting accounting, Published today by the American Institute of CPA (AICPA).
"The high number of undergraduate degrees in accounting programs bodes well for the goal of pursuing a strong pipeline of talent entering the profession," said Yvonne Hinson, CPA, CGMA, Ph.D. , AICPA Academic in Residence, Senior Director, School Participation and Student. "The AICPA continues to be incredibly focused on attracting bright, motivated accountants to the profession. We use Trends and other internal research to shape our programs and initiatives to ensure that the next generation CPA knows that joining the accounting profession is one Excellent career choice with flexibility and substantial opportunities.
While undergraduate enrollments were at an all-time high, the report found that projected enrollment in the accounting system returned to pre-2014 levels. Recent trend reports have seen a steep increase in enrollments and teacher graduates. The CPA profession has significantly lower unemployment rates than the economy in general, especially during economic downturns, which may have helped to attract both traditional and career-changing students to their masters. accounting.
"In my experience as an educator, economic turbulence is a strong motivator for people to pursue the stability of a career in accounting," Hinson said. "The uncertain job market in the post-recession years may have led a large number of career changers to return to school to obtain a master's degree in accounting. At the same time we have seen plenty of students to continue their masters degree directly After graduating from his bachelor's degree in order to strengthen his academic credentials, thus increasing the total number during this period. "
The number of undergraduate degrees awarded during the academic year 2015-2016 (57,119) remained strong, adding to the second highest record and representing a five percent increase from 2013-2014. While the masters degrees awarded (22 405) fell from the historical level observed in 2013-2014, they were also the second highest recorded. Overall, there was an overall decline of 2,258 book titles granted in 2015-2016.
After reaching historic increases over the last four years, hiring the projected public accounting firm has slowed down during calendar year 2016, with 8363 fewer new accounting graduates hired as compared to the previous year. The report found that 59 percent of all companies that hired one or more accounting majors in 2016 plan to hire the same number of graduates or more in 2017. In addition, accounting and business graduates continue to have many possibilities.
Labor Manual 2016 Labor Statistics revealed that the employment of accountants and auditors is expected to grow at a rate of 11% between 2014 and 2014, which is faster than average and represents 142,000 additional jobs. According to the BLS manual, high demand for accountants can lead to good prospects for entry-level positions, with strong competition for jobs in the most prestigious accounting firms and companies. The manual also notes that employment prospects are particularly attractive to accountants and auditors who have obtained their CPA licenses.
"As technology and data analysis reorganize the global economy, CPAs remain well positioned to take advantage of these trends," said Barry Melancon, CPA, CGMA, President and CEO of AICPA. "We have focused on educating our members on current and future opportunities available to them, as accounting firms are increasingly moving toward the provision of wider insurance services. And we are also proactively addressing change in the profession through the new version of the CPA exam, which puts more emphasis on higher order skills such as analytical ability and problem solving. "
There was a 13 per cent increase in the number of new candidates for the 2015-16 CPA uniform review. This increase was attributed by the launch of the new review in 2017, as well as by the concerted efforts of the 'AICPA, state-owned enterprises CPA and accounting companies to encourage individuals to pass the CPA exam.
The AICPA has a multitude of programs designed to increase the pipeline of talented accounting students entering the profession and earning their CPA license. Increasingly, these programs target high school students. In addition to Long Start Here, Go Places. (Providing resources for educators and high school students), the Institute recently announced the acquisition of the Pilot and Bridge Project (APBP). The APBP is a program that trains high school teachers to teach a higher level accounting course. Research shows that taking the course increases the likelihood that students will be majoring in college accounting. Under the AICPA management, the program is being improved and will reach more teachers and, ultimately, more students.
In addition, AICPA's TheWayToCPA website educates students about the potential of an accounting career and provides them with resources and guidance when entering the profession. The AICPA also offers many educational opportunities to accounting students throughout their academic careers.
The 2017 Trends report includes a section that provides details on the interpretation of the data. As the statistical models for this year's report were developed and implemented by a research firm different from previous reports, projections are comparable to previous models, but they are not identical.
