| You've always wanted to become a CPA, but did you | | | | standstill. |
| know that 2010 is probably "The Year" that you should | | | | At the same time, an intriguing study from AICPA has |
| go for this challenge? Here are 3 good reasons why | | | | shown that 75% of existing CPAs are going to retire in |
| you should put your dream into action and pass the | | | | 15 years. This implies that the supply for CPA will go |
| CPA exam within this year. | | | | down for sure in the medium term. |
| 3 Reasons Why You Can't Wait To Become A CPA | | | | Since it takes about 10 - 15 years to get to the senior |
| In 2010 | | | | positions (either as partner of Big 4, or running your |
| 1. The Demand for CPA Has Never Been Stronger | | | | own CPA firm), 2010 is really the time to get your |
| After the Enron scandal a few years ago, the | | | | CPA qualification and start accumulating your |
| government and the business community at large | | | | experience to catch this "golden opportunity". |
| have drastically stepped up their efforts in improving | | | | 3. Uniform CPA Exam Changes in 2011 |
| the scrutiny of the corporations - the Sarbene-Oxley | | | | Another pressing reason why you should take and |
| Act is believed to have increased the demand for | | | | pass the CPA exam in 2010 is because of the |
| accountants and CPAs by double digit percentage | | | | imminent changes effective January 1, 2011. |
| points. | | | | AICPA has acknowledged that the changes are going |
| The U.S. Bureau of Labor Statistics projected in 2006 | | | | to be significant involving new content such as |
| that the employment of accountants will grow by 10 to | | | | International financial reporting standards (IFRS), new |
| 20 percent over the next 7 years on a national basis. | | | | questions format, as well as new exam structure and |
| In fact, the demand for CPAs can only go up in the | | | | time allocations. |
| foreseeable future, given how the recent financial crisis | | | | As you can imagine, the 2011 CPA Exam is a big |
| has revealed the continual weakness in the financial | | | | unknown and uncertainty is never beneficial to exam |
| system in all types of businesses. | | | | candidates. Why? First of all, you are not sure if you |
| 2. The Supply For CPA Is Experience Stagnation, Even | | | | existing coursework has covered new areas, so |
| Decline | | | | questions in the actual exam may come at a complete |
| The data is relatively outdated, but the number of CPA | | | | surprise. Second, no one -- even the CPA exam |
| in the US in 2006 stands at 646,520, versus 639,628 in | | | | review courses -- will be able to predict the new exam |
| 2003. There is a meager 1% increase over these 3 | | | | format. As you can imagine, such anticipation could be |
| years -- the number of CPAs is effectively at a | | | | very stressful. |