Ask a CPA
Got a question? Fire away.
Are you a high school student curious about resumes? Or the CPA exam? Or the size of your future paycheck? Enter your question below and we’ll have a real-life CPA answer it.
If you are in college or beyond, get the answers to your questions by contacting the Academic & Career Development team.
Check out these questions or ask your own.
- Q: I'm 17 years old and I'm not sure what I want to do with my life. I was thinking of taking accounting in college but I'm having second thoughts. I love math and solving problems but at the same time I don't want to be bored. Is being a CPA boring? Is this career right for me?
-
Answered by:
Wade G. Becker, Regional Managing PartnerI think your concerns are valid and given that you are evaluating activities you love to do in correlation to a career demonstrate some great reasoning skills you have developed very early in life. The field of accounting as well as obtaining your CPA can lead you in many different directions. Those directions can be as varied as being a sole practitioner, fraud and forensics investigator, FBI agent, CFO, CEO, business manager for a professional sports team, or a business owner to name just a few.
I always like to say that accounting is the “language of business” and earning your CPA demonstrates to the world that you are fluent in the “language of business.” The accounting discipline and the obtaining of a CPA license can springboard your career into any business or industry line in which you want to become involved as all industries and business lines typically have some level of fiscal accountability and reporting involved. If you love problem solving as mentioned, you will be presented many opportunities to reason and solve situations when helping maintain fiscal accountability and developing fiscal reporting within any organization. I have never been bored by my career to date and doubt that will ever happen as every day presents new situations and opportunities.
- Q: What are the advantages and disadvantages of being an accountant?
-
Answered by:
Tara Hagan, Audit SeniorAdvantages
What a great foundation. Accounting is a type of puzzle. With journal entries and other documentation, you can piece together how a business is operating. Understanding the nuts and bolts of a business - how it operates, how it mitigates risks, how it makes money, etc - is an invaluable skill. So if you decide to pursue another career later on, you'll have already built a great business foundation.
You can use accounting as a gateway into areas of interest. Are you interested in the fashion industry, sports industry, finance industry? Would you prefer a large company in a metropolitan area or a small, private business in a small town in another country? Accounting might be one of the only professions that would be useful and always in demand across industries, companies, and countries.
Disadvantages
It's not easy. You can't just leave at 6 every day. Whatever you are working on -- producing financial reports, analyzing estimates, closing the books -- has deadlines. It's a challenge that requires you to constantly brush up on your current events, current accounting updates, and staying aware of business activities within your company.
Accounting is basically the use of data for decision making. Sometimes the decisions aren't easy and sometimes you have to confront others. Accounting requires more than just critical thinking. It requires standing up to others, supporting your opinions, and standing firm when your opinions differ.
Answered by:
Jimmy Williams, CEOOne of the most important advantages of being an accountant, in particular a CPA, is the number of opportunities you may encounter in your career. CPAs can be found in all industry sectors and public services. The education and training you receive to qualify for the CPA credential is ongoing. You will not only have opportunities to seize in your career, you will also have a lifetime of knowledge to contribute to your favorite charities or assist others during your retirement. No matter the economy, a CPA will be needed to provide guidance, direction and counseling in the operation and development of products, companies and market sectors.
Although I don’t believe this is a disadvantage, some individuals do not desire to be challenged by an ever-changing business environment. I personally thrive on the challenges and seek these situations as opportunities for further growth in my experience and knowledge. Overall, the profession of an accountant is very rewarding and maintains a significant ability to enhance one’s lifetime earnings.
- Q: I want to become a CPA and know I've got the capabilities needed to do so. However, I don't want to restrict myself to a particular state or jurisdiction. Can you tell me which states are the best to prepare for to get the best exposure? I want to learn, I don't want to be a CPA that stands by watching my career, I want excitement in it.
-
Becoming a CPA doesn’t restrict you to just one state or jurisdiction. Although a CPA does need a state license (and can hold licenses in more than one state) to perform audits, there really isn’t any particular state that provides “better experience”. The fortunate thing about being a CPA, is that you can gain valuable insight and knowledge really by focusing on the kinds of businesses you are interested in. Once you focus on the type of experience you are most interested in, you can decide if a career in public accounting or a career in business and industry is the right path for you. Usually, a student coming out of school might not know what industry or type of business they are interested in and might choose to go into public accounting so they can gain a wide array of experience and exposure to see what “fits best” in their career choices down the road.
Also, the AICPA is currently working on an initiative we call our “Mobility” initiative that allows CPAs performing audits to have reciprocity from state to state. That means, when enacted, a license in one state can be used to perform audit work in another state.
- Q: How many years of training does it take to become a CPA?
-
Answered by:
AICPADepending on the state you wish to earn your CPA the rules and regulations vary. I would encourage you to contact your state CPA society which can be found through the AICPA website here:
Generally speaking a CPA license requires 150 semester credit hours of education including a Baccalaureate degree and a required number of semester hours in accounting. In addition to the education requirement and passing the CPA exam there is also an experience requirement that must be met and also varies from state to state.
- Q: What does CPA stand for and where is your headquarters? Do you trade on an American stock exchange? Which one? Is that your stock symbol?
-
Answered by:
AICPACPA stands for Certified Public Accountant. The executive headquarters of the AICPA (American Institute for Certified Public Accountants) is in New York City, but our largest office is in Durham, NC. We also have offices in Washington DC, New Jersey, and Texas. The AICPA is a non-profit organization and it is not on any stock exchange, nor is stock available for purchase. You can learn more about the AICPA at the website below.
