One wants to be an accountant, but a program aims at increased schoolers to fix the deficiency

April 18, 2023: Accounting companies are facing a considerable staffing shortage.

Between the long hours, stressful limits and unflattering stereotypes, more people are quitting the profession than going into it.

Instead, students out of college pursue careers in related fields such as investment banking, which consults or data analysis. The additional credit hours required for a Certified Public Accountant (CPA) license must also be improved.

To tap the upcoming generation of number crunchers, The Deloitte Foundation, a national nonprofit supporting teaching, research and curriculum new in accounting and business, is trying the latest strategy to address the talent pipeline problem by appealing directly to teenagers.

Therefore, The Deloitte Foundation, Urban Assembly and Outlier.org, which operates with schools providing for-credit online college internals, are kicking off a dual enrollment pilot view in New York City.

Starting in the decrease, a few public high school juniors and seniors takes Intro to Financial Accounting and earn three college credits via the University of Pittsburgh, which they can then change to the college of their choice.

Although it’s been almost for decades, dual enrollment has only recently begun to catch on as a way to knock out a few college credits while still in high school, a report by the National Student Clearinghouse Research Center stated, which showed a rise in the number of students completing coursework this way.

Unlike Advanced Placement, these tools are not restricted to high school students on a present and accelerated academic track.

“I teach accounting via the lens of fraud and true crime to witness students the side of this industry that is exciting and needs true grit and skill,” stated Kelly Richmond Pope, an accounting lecturer at DePaul University and the lead lecturer.

According to Outlier’s CEO Aaron Rasmussen, the aim is to inspire more diverse people to consider which accounts careers and potentially replicate this model in school districts nationwide.

“Being able to expose accounting excitingly to a diverse audience will help,” he said.

The profession’s diversity is another reason the industry needs to attract young talent, separate studies state.

To that point, every 2% of CPAs are Black, and 5% are Hispanic despite massive job statements in the field, according to a recent AICPA Trends Report.

According to other reports, accounting often ranks among the top jobs with the best upcoming outlook and six-figure earnings.