August 8, 2022
7 Reasons You Should Consider Becoming A CPA

It may be hard to distinguish between an accountant and a CPA because they seem so similar. The term Certified Public Accountant, or Certified Professional Accountant, refers to a professional accountant licensed to practice in a state or city. In addition to tax preparation and forensic accounting, their expertise also includes financial planning and internal auditing. Accountants and CPAs both may be accountants, but not all accountants are Certified Public Accountant.

Certified Professional Accountants are required to earn professional licenses through appropriate education, training, and experience. It is required that all candidates have at least two years of work experience and an undergraduate degree in accounting, business, or finance.

They will then be able to sit for the Certified Public Accountant exam and become certified accountants once they pass it. It is possible to distinguish yourself from other professionals in your field once you have achieved this designation. In order to maintain your CPA designation, you must complete a certain number of continuing education hours each year.

Getting a CPA comes with a lot of challenges, making you wonder if it even makes sense to pursue it. To help you see why becoming a Certified Public Accountant will be worthy of your time and effort, here are seven reasons to consider:

CPAs Have 7 Reasons To Consider Becoming One

1. Pathways to career success

A Certified Public Accountant must have a wide-range of experience and knowledge in many areas and sectors of the industry. You become an ideal candidate for a variety of industries as you gain skills and knowledge along the way. Having a diverse qualification opens up job prospects across a wide range of industries since you won’t have to specialize in a particular field.

In addition, courses like those offered by Wiley Certified Public Accountant offer simulations and questions relevant to real-life scenarios. As a result of learning how to solve these effectively, you will be able to open doors in the accountant world that are far beyond your expectations.

Accountants with Certified Public Accountant licenses have access to career opportunities unavailable to unlicensed accountants. Additionally, CPAs are more likely to become candidates for managerial and leadership positions.

2. Satisfaction at work

An accountant with a Certified Public Accountant designation can work in a wide range of niches, unlike a regular accountant. According to their interests, they can choose the type of work they want to do, rather than being restricted to specific job roles.

As a result of their training and education, they are multi-talented and can perform many complex and specialized tasks that ordinary accountants cannot. CPAs are able to have greater job satisfaction by constantly dealing with high-profile cases and switching niches when they want.

As globalization accelerates and countries become more interconnected across borders, professionals have a greater opportunity to work abroad. Rather than sending less skilled employees to gain global business experience, accounting firms often send their highly qualified employees.

3. Potential for greater earnings

If you are considering pursuing an additional qualification, the return on investment is one of the most important things to consider. Rank second after passion, salary plays a huge role in helping individuals choose a career path. You don’t have to worry about this as a Certified Public Accountant.

As a result of the abundance of employment opportunities that await you in the public and private sectors, as well as non-profit organizations, you will also be well compensated. According to a survey of accountant salaries, non-CPAs earn $53,402 annually, while CPAs can earn up to $91,608.

In addition, you should understand that being a CPA isn’t the same as being a job. It’s more of a series of stepping stones that provide various job opportunities that eventually will lead to a successful career.

4. In the professional world, prestige and respect are paramount

Taking the Certified Public Accountant exam, fulfilling its requirements, and becoming better and wiser isn’t easy. It is only natural for those who become certified accountants to be regarded as elite professionals with exceptional skills.

As the highest title an accountant can achieve, this title automatically carries a certain aura of prestige. A client will want to listen to you, a company will want to hire you, and a non-professional acquaintance will want to be around you.

The CPA license requires rigorous job training and challenging circumstances in addition to academic guidance. Thus, your experience and proficiency will distinguish you from a regular accountant and earn you the respect you deserve.

5. Incentives and benefits should be increased

Senior employees and more qualified team members are usually given special incentives and benefits. As one of the most skilled professionals in an organization, Certified Public Accountant receive compensation and benefits. Top managers offer competitive salaries to keep top talent in their firms.

However, this isn’t the end of the story. With your Certified Public Accountant qualifications and experience, you are well positioned to negotiate a comprehensive salary. In addition to health insurance, paid time off, flexible work schedules, remote working, and on-site amenities, your employer may give you other perks as well.

Accounting firms often offer bonus plans or cash-based incentives based on performance, which increase significantly for CPAs. A retention bonus, a sign-on bonus, an annual bonus, or a spot bonus may be included in these programs.

6. Recognition on an international scale

Accounting stereotypes are not true, and you don’t have to spend all day staring at spreadsheets. A CPA qualification is a globally recognized certification, which makes it one of the most valuable qualifications available.

Taking equivalency exams will allow you to work in another country even though your license will be specific to the country where you gave your exam. Therefore, the CPA designation opens up a wide range of professional opportunities around the world. Traveling and experiencing new cultures can be an ideal career path for those who enjoy traveling.

7. Ability to handle challenges more effectively

A CPA’s education, training, exams, and exercises prepare him or her to deal with complex challenges in business. For instance, a standard accountant is better at dealing with technical aspects of the field, such as tax treaties and auditing. The broader qualification you have, which covers a range of accounting skills, allows you to take a more strategic approach to the company.

Final Thoughts

It takes exceptional talent to become a Certified Public Accountant, while anyone can become an accountant. There is no doubt that it will be one of the most nerve-wracking and wild experiences of your life. After all your efforts and time, it will also prove to be one of your most rewarding achievements. The people you work with and potential employers are aware of that, recognize it, and will want to appreciate it.

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