College Accounting Enrollment on Historic Pace

August 31, 2017

4:00 PM

College Enrollment

Enrollment figures for college and university accounting programs continue to show strong interest in the profession as a new generation is graduating and entering the workforce.

Colleges and universities are now filled with members of Generation Z, the successors to the Millennials, and the number of students enrolled in bachelor’s accounting degree programs grew to a record high of 216,482 in 2015–2016, according to the recent American Institute of CPAs (AICPA) "2017 Trends" report. The data presented in the report for the overall number of enrollments, graduates, and hires are based on statistical projections.

But at the same time, enrollment in master’s degree accounting programs slid. The new Trends report, which describes the supply of accounting graduates and the demand for public accounting recruits, showed that the number of master’s degree enrollees fell 21% from 2014–2015 to 35,620.

Read the Journal of Accountancy story HERE.

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accounting enrollments rise

It's a wonderful thing to see that enrollments are on the rise. Now if we could just solve one BIG PROBLEM, and that is the fact the none of these accounting programs teach SMALL BUSINESS ACCOUNTING. Most don't even offer a course in Quick Books or Sage, the last new employee had a bachelors degree in accounting and had never had either a Quick Books course or a payroll course. It all starts with small business bookkeeping. Can't even sort and catagorize receipts correctly. But plans to get her Masters in Accounting with zero practical experience.They may give them the ability to be an accounts receivable clerk or a payables clerk, but they have no idea how to balance a checking account. Clients don't reconcile their accounts anymore and in the event of an audit that's the first thing the IRS asks,"were the accounts reconciled?" I can't find accountants, bookkeepers, what ever you want to call them, I'm a small tax and accounting firm with more business than we can handle and I cannot find anyone who knows what has to be done. They say they know Quick Books then take 7 hours to make 30 entries and reconcile a checking account.
I've had interns from the local business college, 1 winner (whom I hired) and 3 absolute loosers; who couldn't understand why I'd tell them what the business was when I handed them an envelope of receipts. (Home Depot receipts for a construction contractor would be materials and supplies not personal). I don't understand how they could have taken 4 years of courses and not have a clue.
I have finally decided that I need to find someone who listens, wants to learn, has had some accounting classes in college has a little experience and train her. Not ideal, as it's time consuming, but right now it's the best I can do. I am tired of telling people I can't handle your business because I can't find bookkeepers (accountants). I think that there has been too much emphasis on that 4 year degree, and they have lost the focus of what they are there to learn; bookkeeping, it all starts there, if you can't do the books correctly nothing else you do will be right. You cannot teach everything you need to know about bookkeeping in a 6, 8 or 12 week course. To get your foot in the door at a CPA firm (in my area) you must have 2 years experience at a firm such as mine, doing the grunt work, then you must have the required experience at a CPA firm to qualify for the CPA licensing after passing the exam. But you can't do that if you never mastered the basics of bookkeeping. We prepare Taxes also (I'm an Enrolled Agent) and attract a lot of Self Employed and Small Business people they all need bookkeeping prior to tax prep. And while Quick Books advertising tells them if you can write a check you can use Quick Books, that doesn't mean it will be done correctly. They don't know how to catagorize assets or liabilities, owners investments or draws, inventory and cost of goods sold is always a killer. We need Bookkeepers!

Anedra M Lewis EA, NTPI Fellow more than 6 years ago