Accounting is the study of a company’s internal financial processes, such as financial statements and transactions. Students who are interested in this field often pursue a bachelor's degree in accounting and then get their Certified Public Accountant or CPA license. Students who become CPAs have to meet education and experience requirements in addition to their bachelor' degree in accounting.
Different career prospects face students with only a bachelor's degree in accounting and those who are licensed CPAs. A Bachelor of Arts or a Bachelor of Science in accounting allows students to pursue careers in bookkeeping, maintaining general business accounts and taking care of relatively simple tax matters. CPAs are specifically trained to perform more complex tasks for companies, such as auditing and financial analysis. Many large companies require prospective employees to be CPAs to fulfill a variety of accounting duties.
Bachelor’s Degree in Accounting
Any bachelor's degree in accounting gives students a solid foundation in the field of accounting and familiarity with various accounting procedures. In this degree program, students learn how to record financial transactions and make managerial decisions using accounting data. Furthermore, students are introduced to the process of analyzing and developing financial statements and conducting internal controls.
Bachelor’s Degree in Accounting Requirements
Bachelor's degree requirements vary across different programs and universities, but many require students to complete 120 credits, approximately 40 to 60 of which are in accounting-related courses. In addition to taking mathematics courses such as business statistics, business finance and quantitative analysis, students are often required to take a number of accounting courses including principles of accounting, intermediate accounting, cost accounting and federal taxation. Some degree programs cater their curriculum for the CPA exam, while many do not.
Certified Public Accountant License
Students with bachelor's degrees in accounting must complete a number of additional requirements to get their CPA license. Requirements vary across states, but most applicants need a bachelor's degree and one or two years, or approximately 3000 hours, of professional accounting experience and pass the CPA exam. The CPA license gives students the ability to work for clients in a variety of sectors, including business and industry, public accounting, government, education and nonprofit organizations.
Prospective CPAs are required to pass a four-part Uniform CPA Examination that tests their knowledge of financial accounting and reporting, auditing and attestation, regulation and the business environment. Passing the exam shows prospective clients that they are capable of performing a variety of services in addition to basic accounting, including auditing, personal financial planning, taxes and business valuations.
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