As an aspiring or accomplished accountant, you\u2019re no doubt aware of one of the more important licenses available: Certified Public Accountant (CPA). What you may not know is why you\u2019d need it, when you should get it, or what you need to know to get it. Shaily Verma, PhD, accounting department faculty chair at Capella University, and Sam Sands, licensure consultant at Capella, recently offered answers.<\/p>\n
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\u201cA bachelor\u2019s in accounting would qualify someone for an entry level job,\u201d said Verma. That means someone could get a job as a staff accountant or as an accounting specialist supervisor. But to reach higher levels of accounting responsibilities, including completing audits, representing a client in front of the IRS, or acting as an expert witness, a CPA is necessary.<\/p>\n
\u201cThe CPA is a mark of distinction in today\u2019s competitive employment environment,\u201d said Verma. \u201cGiven the corporate scandals and financial crises of recent years, CPAs who can audit and advise companies on how to operate legally are especially in demand, as well as those who work in forensic accounting (accountants who uncover financial crimes within businesses).\u201d<\/p>\n
So why not just go straight for the CPA? \u201cIt isn\u2019t necessarily required to get an accounting degree before the CPA,\u201d said Sands, \u201cbut a bachelor\u2019s in accounting will provide you with a foundation for the CPA exam itself.\u201d This foundation includes fundamental accounting concepts such as budget analysis, investment planning, and internal control audits, plus deep knowledge in emerging areas that impact the profession today, including accounting ethics and international accounting.<\/p>\n
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Note: It\u2019s important to understand that each state has different licensing requirements, and some states require an undergraduate accounting degree. Part of Sands\u2019 work at Capella is to ensure students identify and have what they need to study for their specific state exams.<\/p>\n
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Additional credits beyond a bachelor\u2019s degree are required for the CPA, so many students pursue a master\u2019s in accounting as well (a Master of Science or Master of Business Administration<\/a>). In fact, a master\u2019s degree will help students meet the required number of credits set in most states. Additionally, successfully completing a master\u2019s as part of your CPA preparation will make you more attractive to prospective employers.<\/p>\n A master\u2019s degree would also be required for anyone considering a PhD in Accounting<\/a> or Doctor of Business Administration (DBA) in Accounting<\/a>. The PhD is often pursued by those who wish to teach at the post-secondary level or conduct research. The DBA is a professional degree, helpful to accountants actively working and\/or consulting in the field (many professionals with a DBA also teach). The high levels of practical knowledge gained through these doctoral degrees are designed to develop executive-level leadership<\/a>.<\/p>\n <\/p>\n Verma points to several certifications that can also broaden employment prospects.<\/p>\n Although none of these certifications will teach basic audit and attestation, they are good ways to expand knowledge and stay current in the finance industry. Additionally, you may be able to earn credit for these certifications, which can save time and money toward earning a degree.<\/p>\n <\/p>\n <\/p>\nAre There Other Certifications Important in Accounting?<\/h4>\n
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