Employers are experiencing a growing shortage of accounting talent. The long hours, tight deadlines, and additional credit hours required to earn a Certified Public Accountant (CPA) license are among the top reasons why more professionals are leaving the profession than entering it.
To reduce the accountant shortage, The Deloitte Foundation launched a program aimed at attracting high schoolers to the profession. The national nonprofit organization supports teaching, research, and curriculum innovation in accounting and business.
Find out whether a program aimed at high schoolers will help reduce the accountant shortage.
High School Students Can Earn College Credits
The Deloitte Foundation, Urban Assembly, and Outlier.org partnered to create a dual enrollment pilot program in New York City. Select schools offer students for-credit online college courses.
A select number of public high school juniors and seniors can take Intro to Financial Accounting and earn 3 college credits through the University of Pittsburg. Then, the students can transfer their credits to the college of their choice.
Changing Perceptions of the Accounting Profession
Kelly Richmond Pope, the DePaul University professor who is the lead lecturer of Intro to Financial Accounting, teaches accounting through the lens of fraud and true crime. Her goal is to show students the exciting side of accounting to encourage them to pursue careers in the profession.
Increasing Diversity in the Accounting Profession
According to A CPA Diversity Report: Uncovering the Barriers to Success, published in 2022 by the Illinois CPA Society, racial and ethnic minorities experience substantial barriers when trying to enter and advance in the accounting profession. These barriers include:
- Lack of education and experience
- Inadequate preparation to work in a professional environment
- Lack of confidence in the ability to fulfill the job duties and responsibilities
- Inadequate diversity, equity, and inclusion (DEI)
- Inadequate feedback
- Limited development opportunities
As a result, Ms. Pope teaches Intro to Financial Accounting to inspire diverse students to build careers within the profession. She also wants to replicate the dual-enrollment model in schools across the country.
High Earning Potential in the Accounting Profession
A ZipRecruiter survey of 2023 college graduates showed that high pay, attractive benefits, flexible work arrangements, and rapid career growth were among the top expectations for job offers. The accounting profession offers all of these. As a result, students who focus their education on accounting can expect job security as they build their careers.
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