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The Accounting Field is Changing, Are You Ready?

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The Accounting Field is Changing, Are You Ready?

Did you know?

The U.S. Bureau of Labor Statistics reported the employment of accountants and auditors is projected to grow 10 percent from 2016 to 2026, faster than the average for all occupations?1

What does this mean for accounting professionals? There is a big opportunity to take advantage of the demand for a workforce with the right certifications, experience and education both at the undergraduate and graduate levels.

At NECB, we are always striving to stay at the forefront of what skills and experiences employers are looking for so when our students graduate, they are equipped with what they need to be successful. That is why we are excited to offer a highly competitive tuition discount for those looking to either finish or earn their accounting degree including:

  • BS Accounting Degree Completion in 1 Year for $5K
  • MS Accounting Degree in 1 Year for $10K
  • BS to MS Accounting Degrees in 2 Years for $15K
  • Accounting Certificates 7 classes in less than 1 Year for $3,500 ($6,685 savings)
  • Power of One: Take a complimentary, one-time Accounting 201 course for degree-seeking students that can be completed in 8 weeks

Click here to learn more!

At the same time the demand for accountants and auditors is projected to increase, The American Institute of CPAs (AICPA), just released its biennial report titled, “2019 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits”, which focuses on providing insight into the new face of the accounting profession as it enters the next decade.

The 2019 report found that the face of the profession is changing, specifically with regards to having more diverse candidates looking for employment as well as fewer Certified Public Accountants (CPA) candidates compared to previous years.

Here is a roundup of the most notable changes in AICPA’s report:

Accounting Enrollment by Program

  • Enrollment in bachelor’s accounting degree programs has reached its second-highest level since 2007 — coming in second behind 2016-2017.

    What does this mean?

    The continuous growth of more graduates getting their bachelor’s in accounting means there will be more competition for professionals with only a bachelor’s degree. Pursuing a Master’s in Accounting or continuing education through accounting certifications can be a great way for working professionals to keep their skills and knowledge fresh as well as help advance in their careers.

New CPA Candidates

  • The number of new CPA candidates has dropped in 2018.

    What does this mean?

    This highlights an opportunity and way for graduating candidates to help differentiate themselves by becoming a CPA — giving them a competitive edge against others who are not a CPA.

Demographics of Accounting Graduates

  • The face of accounting is also seeing some changes at the bachelor level – becoming more diverse with a notable rise in Hispanic/Latino graduates in 2017-2018.

    What does this mean?

    A more diverse workforce means bringing new, fresh ideas, backgrounds and perspectives to an organization which can help broaden the scope of business. Utilizing diversity as an asset can help accounting firms and other organizations become more innovative and competitive – not allowing the old status quo mentality get in the way of ingenuity.

Interested in learning more about NECB’s award-winning online accounting programs? Click here to learn more!

1 https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
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