Tuesday, October 17th, 2017

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Licensed to Earn

Why CPAs bring in more money and more opportunities.

It’s not just accountants that will be in demand in the years ahead, it’s CPAs (Certified Public Accountants).

The Bureau of Labor Statistics predicts employment of accountants and auditors will be strong over the next several years. Meanwhile, “accountants and auditors who have earned professional recognition through certification or other designation, especially a CPA, should have the best job prospects,” the Bureau says.

According to Susan Afan, District President at Robert Half International, the CPA is now a “key common criterion” as far as searches for senior level accounting positions go. “Professionals who possess the CPA always give themselves the edge,” she says.

Some professionals in the field believe the CPA license should be a bare minimum for anyone practicing accounting. It is not—yet—but it will put you in greater demand throughout your career.

CPA vs. Accountant: What’s the difference?

CPAs come with a virtual guarantee. CPAs are licensed by the state. This means they have undergone a rigorous qualification process known as the 4 Es:

1. Education
2. Examination
3. Ethics
4. Experience

The licensing process assures clients that you have been there, done that and will do things the right way. And that is priceless to potential clients and employers.

CPAs can do more. Thanks to the intense training, there are some things CPAs can do that accountants can’t. Only CPAs have the authority to audit a company’s books and sign off on the validity of any of their financial information. Non-licensed accountants can’t do these things—they can only prepare consolidated statements, which for many clients won’t cut it. CPAs can charge more. CPAs charge more for their services and earn up to 15% higher salaries because they’re bound to high standards of work, ethics and professionalism. They have to be, because the State Boards of Accountancy may review their work and can revoke their license if necessary.

Of course, you can be non-licensed and still have a productive and successful career. But if you’re worried about the current job market or want to maximize your salary, consider the CPA license a surefire way to send your resume to the top of the pile.

If you’re simply not sure about a career in accounting, or you are and want some real-world experience, enter the American Institute of CPAs’ 2010 student accounting competition. You could win a networking trip to NYC and the $10,000 team award. Register now >>

[Article Sponsored by AICPA]
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One Response to Licensed to Earn

  1. Rita says:

    You are talking about Licensed CPAs. How about registered? What are their prospects in the job market. I personally think it is not fair. I am a CPA but cannot be a licensed CPA because I have never worked in public accounting. How I can even get into public accounting?

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