Key Survey Findings of Two Pipelines ... 2nd Pipeline Review

Developed by the CPA Crossings Research Team - Kelly J. Waffle, Director, Research & Innovation, and Megan Nadzan, Ph.D., Research Administrator.

Last week's issue about the talent crisis and opportunity established the best times to influence students to choose accounting as their major is before college enrollment (high school) when many students make their choice of a major. This research becomes more compelling when looking specifically at student data identifying there is GREAT urgency to reach out to and educate younger students.

When you look at responses from business administration majors, we can establish the necessity of reaching out to high school students to influence their decision to switch and consider majoring in accounting.

This week we will concentrate on uncovering the second pipeline. This pipeline is composed of accounting majors who become CPA candidates by preparing for the CPA Exam and completing the education and experience requirements.

We asked survey respondents in the CPA education, exam, and licensure journeys where they could use the most help. The top answer was “scholarships and financial support.” Other key responses include exam preparation support, a mentor or coach, assistance navigating the licensure process, and understanding the variety of careers available to CPAs.

Clearly, there is a need for financial and preparation support to help accounting majors continue on to licensure.

Time Is Not on Our Side — Especially on 150

The education, exam, and experience requirements for licensure for CPAs come with extensive time and financial commitments. As discussed extensively throughout the profession, those who have made the decision and commitment to pursue the CPA need to satisfy the 150 credit hours of accredited university education. Some in the industry are discussing lowering the 150-credit-hour requirement, often citing financial costs as a primary need for a change.

Can Accounting firms get college students to reconsider their major to become a #CPA? We asked both accounting and business administration majors who had decided not to become a CPA what could influence them to change their minds.

Below are other influences identified that could change the mind of an accounting major student to switch gears and not become a CPA.

Kelly J. Waffle, Director of Research & Innovation,?and our research team discovered interesting results in the statistics that could help #recruit top #talent! A different #accountingfirm business model may work to encourage #college #students that becoming accounting majors and working toward the CPA license is worthwhile.

We will review more on these concluding details about the crisis and opportunity of the accounting profession in next weeks edition CPA Insights & Knowledge News covering "The Researched Secrets of CPA Talent."

Subscribe and visit https://www.cpacrossings.com/contact-us/ to request a full copy of the FREE abridged version of this report on the accounting profession. Click the box "Research Insights & White Papers."

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In the full version of this white paper, specific data is included. Pipeline data gathered from students residing in 47 states. More than 78% of respondents self-identified as business administration majors. Nearly 22% identified as accounting majors. The Pennsylvania Institute of Certified Public Accountants (PICPA) surveyed 763 current students in U.S. colleges and universities in late spring of 2023.?