One of the best steps for prospective CPAs after they take the CPA exam is becoming familiar with business systems used by large corporations. According to a recent survey, corporate CFOs are having difficulty finding qualified professionals for accounting and finance job openings.
Corporations are eager to fill accounting jobs with CPAs that understand business systems. Knowledge of business systems is valued as much as the accounting experience needed to meet CPA requirements. About 69 percent of the CFOs surveyed by Robert Half reported challenges in finding candidates with the best skills for accounting and finance positions.
The same survey one year ago reported that only 37 percent of finance executives were having problems finding high-quality job applicants. Speculation has emerged that the slowdown in hiring for corporate accounting and finance positions is attributable to the shortage of individuals with desired qualifications. Over 90 percent of CFOs surveyed indicated that they intend to maintain current staffing levels. In a report one quarter ago, 20 percent of financial executives planned staff increases.
Corporate finance has been a career path of rising interest to new CPAs. The responsibilities corporations have extended to internal accountants have meant a growing relevance for the information studied in CPA exam preparation. CPA credentials have meant the expectation of having vital roles in the future of corporate enterprises.
But CFOs have found that more is needed than high quality accounting skills. Executives have struggled to deliver on-the-job training for other important abilities. For example, accountants that have some familiarity with Oracle are a huge benefit. Accountants that complete study for CPA designation as a conduit to careers in corporate finance are only fulfilling part of the qualifications desired by future employers.
Obviously, corporations that are faced with having to provide business systems training must devise a relevant pay scale for hiring new CPAs. Creating these development plans and compensation guidelines likely explains the regression of intended staff expansions.
CPAs need some training in business systems in order to differentiate themselves as top job candidates at large organizations. They begin by finding ways to interact with corporate accounting executives. For instance, sources that were used for online CPA review also provide professional forums. These are environments for young accountants to participate in ongoing dialogs with experienced executives. The objective of the new CPA is identifying abilities in greatest demand. This knowledge results in finding the right job experience after the CPA exam or taking additional courses to develop some exposure to business systems. Sharpening those skills will render a more complete package when applying for corporate accounting jobs.
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