Why high schoolers should consider majoring in accounting and how to reach 150 credit hours for CPA certification
As high school students stand on the cusp of their future, choosing a college major can be a tall task. Amidst the myriad of options, accounting stands out as a field filled with opportunities, financial stability, and intellectual challenges. Here’s why accounting should be on every high school student’s radar and how they can navigate the journey to reach the 150 credit hours required for CPA certification.
Why major in accounting?
High Demand for Professionals
The accounting profession is in high demand globally. Every business, regardless of size or industry, relies on accountants to manage finances, ensure regulatory compliance, and provide strategic insights. This demand translates into robust job security and a lower unemployment rate for accounting graduates compared to other fields.
Lucrative Salary Potential
Accounting is a well-compensated profession. According to the Bureau of Labor Statistics, the median annual wage for accountants was nearly $80,000 in 2023, with the potential for significantly higher earnings for those who advance to senior and executive positions or obtain certifications like the CPA.
Diverse Career Opportunities
An accounting degree opens doors to a variety of career paths. Graduates can work in public accounting, corporate finance, government, non-profits, and even start their own firms. Specializations such as forensic accounting, auditing, taxation, and financial planning allow for career customization based on interests and strengths.
Intellectual Challenge and Skill Development
Accounting is not just about numbers; it involves critical thinking, problem-solving, and strong analytical skills, going beyond the traditional bean counter stereotype. The discipline fosters a deep understanding of business operations and financial health, making accountants valuable advisors in strategic decision-making processes.
Collaboration and Teamwork
It’s a common misconception that accountants work alone in a cubicle — accounting often involves working as part of a team, whether it be with other accounting professionals, financial analysts, or cross-functional teams within an organization. This collaborative environment fosters the exchange of ideas, enhances problem-solving capabilities, and creates a support system that can lead to innovative solutions and professional growth.
Getting to 150 credit hours for CPA certification
To become a Certified Public Accountant (CPA), candidates must meet the 150 credit-hour requirement set by most state boards of accountancy in the United States. While many individuals may pursue an advanced degree, there are other avenues as an undergraduate student to get to the 150-credit hour requirement completed. Here are some strategies to reach this milestone efficiently:
Summer and Winter Courses
Taking advantage of summer and winter sessions can expedite the accumulation of credit hours. These intensive courses enable students to stay on track or get ahead without overloading their regular semester schedules.
College Credit from High School
High school students can get a head start on the 150-credit hour requirement for CPA certification through Advanced Placement (AP) courses, dual enrollment programs, and other credit-earning opportunities. This proactive approach not only saves time and money but also provides a solid academic foundation for their college education.
Double Major or Minor
One way to accumulate additional credit hours is by pursuing a double major or a minor in a complementary field such as finance, business administration, or information technology. This not only helps in meeting the credit hour requirement, but also broadens knowledge and skills, making candidates more versatile.
Pursue a Graduate Degree
Another effective strategy to meet the 150 credit hour requirement for CPA certification is to pursue a master’s degree in accounting, MBA or a related field. Graduate programs not only provide the additional credit hours needed but also deepen understanding of advanced accounting principles and practices. This pathway can enhance a candidate’s expertise in specialized areas such as forensic accounting, auditing, or taxation. PC offers the accounting cohort in its MBA program that allows eligible students to complete the necessary credit hour requirements, while getting an MBA in just over a year.
Make accounting your future
Majoring in accounting offers a wealth of benefits, from job security and lucrative salaries to diverse career opportunities and intellectual challenges. Accounting can be an exciting, engaging, and enriching career field. For high school students considering this path, understanding the roadmap to CPA certification is crucial. By strategically pursuing additional credit hours through double majors, accelerated programs, online courses, and internships, students can efficiently meet the requirements and position themselves for a successful and rewarding career in accounting.
