What To Study To Become An Accountant

If you’re considering a career in accounting, now is the best time to start. The job market has a high demand with high pay for accountants, a very favorable environment. The U.S. Bureau of Labor Statistics (BLS) adds credit to this, predicting a bright future for this field. We may see a 4% growth from 2022 to 2032 for accountant and auditor growth — that equates to about 126,500 job openings annually.

Do you know what to learn to become an accountant? Your journey to becoming an accountant will take time and require hard work and dedication. However, if you’re analytical, passionate about problem-solving and want to help others through financial insight, then this can be a very rewarding career.

Here’s what you need to study to become an accountant.

What Degrees Do You Need To Be An Accountant?

At Mount Wachusett Community College (MWCC), we offer an Accounting Certificate Program. This program can lead you to a variety of exciting career opportunities, or you can use it as a stepping stone to further your studies. During this program, students earn 24 credits toward the certificate. These credits can also be applied to the MWCC Business Administration Associate Degree. After graduation, students can transfer to a four-year school to earn their bachelor’s degree, which is a great way to save money on an accounting degree.

To become a certified public accountant (CPA) in the U.S., you’ll need to successfully complete a bachelor’s degree from an accredited institution consisting of 120 credits. The degree must be accredited by the national professional body, the American Institute of Certified Public Accountants (AICPA).

While majoring in accounting may not always be necessary, it will be highly beneficial. Getting a degree relevant to the field helps to ensure you meet course-specific requirements for CPA licensure. Regarding the types of accounting degrees, you can sign up for a Bachelor of Accountancy (BAcc). Other titles can include a Bachelor of Science (BSc) in accounting or a Bachelor of Arts (BA) in accounting. After obtaining a bachelor’s degree, you can also aim for a master’s or doctorate.

Additionally, there are different accounting degree concentrations that allow students to explore an area of interest. Common accounting concentrations include the following:

1. Auditing
2. Financial accounting
3. Taxatopm
4. Forensic accounting
5. Management accounting

What Undergraduate Programs Are Best For Accountants?

Accounting is often its own degree, but what if you want to continue your education? For aspiring accountants, the best undergraduate programs often pair accounting with a complementary discipline. This is to help broaden their expertise and career opportunities in a competitive job market.

Double majoring is the perfect solution to this, as it saves time while improving your marketability. Popular double-majoring undergraduate programs include the following:

• Accounting and Computer Information Systems (CIS): This is ideal if you’re interested in IT auditing or managing financial data systems.
• Accounting and Finance: Go into a deep dive into financial analysis, investments, transactions and risk management.
• Accounting and Law: These two disciplines are often two sides of the same coin and are highly complementary to each other. This program is perfect if you’re interested in tax law or financial compliance.
• Accounting and Business Administration: This program blends accounting skills with a deep understanding of business operations. It can help students prepare for more managerial or entrepreneurial roles.
• Accounting and Economics: This undergraduate program is well-suited to those who want to tackle complex financial and economic challenges across industries.

What Certifications Do Accountants Need?

Now that you know what course to study to become an accountant, there are other things you must consider. Aspiring accountants must pass other exams to become licensed CPAs.

In every state, accountants must successfully pass the Uniform CPA Examination for licensure. This exam is administered by the AICPA. Graduates can submit their application for the examination through the National Association of State Boards of Accountancy (NASBA), which offers CPA Examination Services (CPAES). Through their CPAES, the NASBA is responsible for reviewing and accepting or denying submissions based on the exam requirements.

If you’re in Massachusetts, before taking the exam, you must meet the following requirements:

• Be 18 years or older
• Bachelor’s degree or higher with at least 120 credits
• 150 semester hours in various course subjects in accounting and business
• At least 2,000 hours of experience in accounting

Once accepted, applicants must be fully prepared as the Uniform CPA Examination is rigorous with low pass rates. Its difficulty is mainly due to it testing everything you’ve learned — categorized into four major areas. Three of the four categories are core CPA sections, whereas test-takers can choose the last one based on three discipline sections.

The three core sections that test takers must pass include:

1. Taxation and Regulation (REG)
2. Financial Accounting and Reporting (FAR)
3. Auditing and Attestation (AUD)

The three disciplinary sections that test-takers can only choose one from include:

1. Tax Compliance and Planning (TCP)
2. Information Systems and Control (ISC)
3. Business Analysis and Reporting (BAR)

Depending on your state, you must complete and pass all four sections within 18 to 30 months. Those who don’t pass a section must retake it during a different testing window.

Other Helpful Subjects And Courses

There are different subjects and courses that can help enrich your accounting career in numerous ways. Consider focusing on the following subjects:

• Information technology: Stay adept with the growing digital landscape and learn the basics of generic accounting software and data management.
• Statistics: If you want to master data analytics, then taking statistics as a subject can be highly beneficial. You’ll learn how to interpret financial data and provide actionable insights.
• Economics: Understanding market trends and their impact on business finances can be valuable. An accountant with an economics background can help with strategic decision-making.
• Law: Learn how to navigate complex legal environments by taking law on as a subject.
• Finance: Accountants who also focus on finances can be valuable as they can help with comprehensive financial planning.
• Business: Business subjects provide a broader understanding of typical business operations, which can enhance an accountant’s ability to offer strategic advice.

In conjunction with your degree, you can obtain the following courses to give yourself a competitive edge and open doors to a diverse career path:

• Certified bank auditor (CBA)
• Certified fraud examiner (CFE)
• Certified internal auditor (CIA)

Start Your Accounting Journey With Mount Wachusett Community College

If you’re looking to kick-start a career in accounting or gain extra college-level credits, then look no further than Mount Wachusett Community College. MWCC’s Accounting Certificate Program offers quality education at an affordable price.

If you’re ready to learn the fundamental principles of accounting, apply online at MWCC today! If you have any questions or need more information, feel free to we offer an Accounting Certificate Program, and we’ll get back to you.