There are many reasons why professionals strive to become certified in their respective fields. They could be after a promotion, pay increase, or simply want general respect from their peers. The fact is that credentials and state certifications are one of the fastest ways to advance your career. This fact is particularly true in the profession of accounting.
Public accounting is split into different industries. Auditors are responsible for checking financial statements and examining the underlying assets and liabilities that make up these statements. Tax professionals are responsible for making sure entities are compliant with all tax laws in their jurisdiction. These include income taxes, sales taxes, and others. Risk and assurance accountants are responsible for analyzing business situations and environments to assess the level of investment risk and advise clients appropriately. All of the professionals in these subfields of the accounting industry have one thing in common. They are more respected with a certified public accounting license.
Accounting professionals who become certified public accountants are more likely to get promoted no matter what their subfield is. In fact, some firms will only promote CPAs to certain positions. Thus, if an employee refuses to become certified, he or she will have an employment ceiling over them. That is how important it is to become certified.
Also, certified professional make on average $1,000,000 more in their careers than their non-certified counter parts. This is a huge difference that comes from the promotions and opportunities associated with the certification.
If you are in charge of training accounting professionals as your company, you should stress the need for the accountants to read up on cpa exam study tips and take the CPA exam. As more of your employees pass the exam, they will become more knowledgeable and create a better company. Plus, they will be able to take on more responsibility around the company as well.
Training Accountants in A Corporate Setting
Training accountants isn’t always easy and there should be rewards in place to keep them motivated to pursue their credentials. For instance, many large CPA firms pay for their employees’ cpa exam study materials. This gives them in the incentive to start studying because they don’t have to pay for an expensive course out of their pocket. Other CPA firms offer bonuses to employees who are able to pass the exam within a certain time period. For example, if an employee can pass the exam within a year of being hired, they will receive a $5,000 bonus.
All of these are good options to present to your company during the training process. The most important thing is that the idea of becoming certified and credentialed is out there and on the table. People have to know about the opportunities and positive aspects of it before they will be willing to pursue it.