The Authorized Watchdog, Accounting: The way to Wreck (and Rescue) a Occupation:

In my earlier life, changing into a CPA was, in a way, straightforward.  To make sure, the two-day examination itself was very robust.  In contrast to state bar exams which typically have an 80% first-time cross price, the November 1996 CPA examination, for instance, had a 17% cross price for first-time take a look at takers.  However the course of of changing into a CPA was quite simple.  Simply get a B.S. or B.B.A. in accounting, join and cross the CPA examination, after which wait to your certificates to reach within the U.S. mail. …

Immediately, there are lots of articles in regards to the declining variety of CPAs and, particularly, of accounting majors within the CPA pipeline.  The newest such article is right here, in at the moment’s WSJ (subscription required).  That article’s title signifies its proposed resolution to the issue: How can we make accounting cool?  And there are lots of articles like this one, angsting about tips on how to replenish the numbers inside the occupation.  However I doubt folks are actually avoiding accounting as a result of it’s un-cool.  It has all the time been un-cool (which, in some circles, will be cool).

It’s true that some may keep away from accounting as a result of, in contrast to many areas of research, it’s critical and tough.  I’m not simply evaluating it with frivolous majors similar to sexuality research, puppetry, video video games, and grievance research.  In contrast to legislation, for instance, accounting entails numbers and typically truly requires you to reach on the “proper” reply.  And even within the areas of accounting that require judgment—and there are lots of—not all opinions are equally legitimate. Nonsensical and disorganized babbling—I’m pondering of some prosecutors as I write this—received’t earn you a passing mark in an accounting class or on the CPA examination.  However simply as with its lack of coolness, accounting’s rigor can be nothing new.  As the good Arthur Andersen mentioned way back, accountants should “suppose straight, speak straight.”

On condition that its un-coolness and rigor has not modified, my speculation is that the variety of accountants and would-be accountants within the pipeline has dwindled due to what the occupation has achieved to itself since I turned a CPA.  Immediately, as an alternative of the tough, however brief and simple, path of incomes a B.S. or B.B.A. in accounting after which passing the CPA examination, the occupation has erected quite a few expensive and time-consuming obstacles to entry.  Listed below are the hoops {that a} potential CPA might have to leap by means of, relying on the state: …

In sum, at the moment the CPA certificates is not a glittering prize on the finish of a really rigorous however brief and clear path, because it as soon as was.  Relatively, the trail is now prolonged and winding, and the prize isn’t even seen, not to mention glittering, from the beginning block.  Additional, even in the event you win the prize a few years down the street, the enjoyable solely then begins, as protecting it might require your hard-earned cash and worthwhile time within the type of ongoing, obligatory CPE. …

I ponder: how many individuals have handed on the accounting occupation for the authorized occupation?  As an alternative of (A) going to high school for 5 years, taking a CPA examination with a 17% cross price, after which hoping to search out qualifying employment for 2 years earlier than taking a second examination (ethics) to change into licensed & licensed, you (B) take a smooth main and graduate in three years, go to legislation college—perhaps even one which has a two-year JD program (see, e.g., right here)—after which take a bar examination the place common cross charges usually break the 80% mark. …

As an legal professional, I’ve to finish 30 CLE credit each two years.  However, CPAs might have to finish as many as 120 CPE credit each three years (e.g., IL) or 80 CPE credit each two years (e.g., WI).  On an annual foundation, that is 15 credit for the lawyer and 40 for the CPA.  On condition that, and given the accelerated path accessible to would-be attorneys (i.e., finishing a much less demanding faculty diploma in three years and finishing legislation college in two years), the legislation possibility is likely to be much more engaging than the CPA possibility—notably for these occupied with tax.

https://taxprof.typepad.com/taxprof_blog/2023/05/how-the-accounting-profession-wrecked-itself-and-made-a-legal-career-preferable-to-a-cpa.html