Accounting Times’ Post

🚀"Houston, we have a problem..." The pipeline issue in the accounting industry has been a known challenge for years. I’ve read article after article (see comments) on how to address it, but many solutions focus solely on trying to convince the younger generation to like accounting. In my view, this approach isn’t enough. To bridge the talent gap, it’s time to think outside the box and explore new solutions. Here's my idea: 💡Develop an “Experienced Professional Program” to bring back people who majored in accounting but didn’t sit for the CPA. Imagine hiring them as full-time employees and creating a benefit for them to return to school to fulfill the fifth-year requirement—all while providing dedicated support to help them pass the CPA exam. 🛠️This approach allows us to tap into individuals who already have a passion for accounting and a solid educational foundation. With the right support structure: 💲 tuition assistance 📚 paid study leave 💁♀️ mentorship we could reignite their passion for the profession and open pathways to CPA certification that are more accessible and realistic instead of merely "selling" accounting to a younger audience. I would love to hear your thoughts on this idea... CPA NPAG Deloitte KPMG US EY CohnReznick LLP UHY LLP, Certified Public Accountants American Institute of Certified Public Accountants (AICPA) American Accounting Association PwC Grant Thornton (US)

🚀 Unlock the Future of Accounting Talent! 🚀 Discover how PwC is addressing the talent shortage with innovative solutions that secure top talent and elevate the entire accounting profession. Curious about their success? Dive into the details and see how your organization can benefit too! #accounting #talentacquisition #ATHENA

As the accounting industry is grappling with a shrinking pool of young candidates choosing the profession, Ernst & Young LLP is stepping up to sweeten the pot: the Big Four firm announced last week that it would spend $1 billion over the next three years to “revolutionize the experience of early career accounting professionals” by increasing “early career” compensation as well as funding AI-enabled audit and tax platforms and a new program dubbed 360 Careers, which will provide outreach and support for college students. It maybe a good time for PwC or Deloitte or KPMG or MDP or Grant Thornton (US) or BDO or other firms to work with CPAs that are above 55+ that are working to do p/t work to help drive their revenue growth model.

EY is finding new ways to attract Gen Z into accountancy! 😎 We all know that the number of young people choosing accounting as a career path has decreased in recent years. So, making sure we keep young people engaged with accountancy as a career is key. One of the biggest ways EY has highlighted to attract younger people to the accounting industry is to “foster a culture of care and offer career opportunities that align with employee aspirations”. But not all hope has been lost yet. Those who are in accounting careers that EY surveyed found: 😍 79% of students surveyed believe that a career in accounting will deliver long-term career benefits 🤑 34% recognise it as a stepping stone to leadership opportunities that could include those beyond accounting. So, there are still huge benefits to choosing an accounting career; it’s just that we need to adopt more Gen Z values in our practice! I’d love to know your opinion on this article. Let me know in the comments below. Take a look at the full article here: https://lnkd.in/d-WpnJid #AccountingIndustry #AccountingStudent #AccountancyStudent #EY #GenZ

10 not-so-obvious, unspoken lessons that led to happy, meaningful 10 years as a CPA *** This month, I celebrate my 10th year since becoming a CPA. Next month, I celebrate my 9th busy season in a public accounting firm. Earning that 3-letter title and surviving the Big 4 audit— Each was an adventure on its own From starting as an unwilling Accountancy student To learning to love accounting for what it’s worth This title and profession brought me far Farther than where I imagined myself to be They also enabled some of my dreams. As I reached this milestone, I reflected on some lessons learned. Some of these lessons came early. A few came later. The lessons changed through the years. I also changed. Here are my top 10 not-so-obvious, unspoken lessons that led to happy, meaningful work. 1. Break your “gotcha” mindset. 2. Audit is 99% listening, 1% speaking. 3. Professionalism is how you show up, not what you wear. 4. Letting your work speak for yourself is not the only way to advance. 5. Let go of frustrations. Life is too short to dwell on them for long. 6. You will encounter people who you wouldn’t want to become. Each person is worth learning from. 7. If you can’t celebrate the small wins, you can’t celebrate the big ones. 8. Keep things simple as if you’re talking to a child. 9. You don't have to stay in your lane all the time. 10. If you want to go fast, go alone. If you want to go faster, go together. If you’re celebrating a similar milestone, what lesson do you care to share? PS. I share the stories behind some of these lessons through Busy Season Journals. PPS. I’m a CPA (Coach, Problem-solver, Accountant) for good. I write about my adventures as an accountant/auditor and everything in between. If you feel happy reading my posts, subscribe to Busy Season Journals. You get deeper insights and personal stories on how to shape a happy, meaningful career. Happy reading! https://lnkd.in/e_67bBS2 #lessonslearned #CPAforgood #accountinsights #accountinstories #busyseasonjournals

Facing a shortage of certified accountants? 📉 You're not the only one. According to Business Insider, the U.S is facing a nation-wide shortage of certified accountants. This trend, highlighted by AICPA (The American Institute of Certified Public Accountants), is preceded by the great resignation of 2020, fewer graduates emerging and declining CPA exam success rates. Read the full article here: https://lnkd.in/gqQpcXRh

What do you think!?

ICYMI: 🚨 KPMG and Deloitte have thrown their support behind a big shift in CPA licensure requirements. This comes about a month after the AICPA announced plans to add flexibility to tackle the accounting talent shortage. The 150-hour rule? It continues to be a big hurdle for students, adding extra costs but showing little impact on audit quality. The Big 4 trains new hires the same way, whether they have 120 or 150 hours - so why not make it easier? Experts say Big 4 support is crucial for this to move forward. PwC and EY - we're waiting for you to jump on board! 😉 What do you think? Will eliminating the 5th year of school help more students decide to major in Accounting and start their career in Accounting/Audit/Tax? Read more here: https://lnkd.in/gFE5VrYa

🔍Are you considering transitioning from an accounting firm to an industry-based role? This move can be a defining moment for accountants, as it involves a change in the work environment and a transformative shift in professional dynamics. Discover how accountants redefine their career paths by embracing dynamic industry positions that offer new challenges and growth opportunities. https://lnkd.in/eeUXsDVN  #accountants #careertransition #growthopportunities