How to Become an Accountant: A Step-by-Step Guide

A strong educational background is the mandatory first step for any aspiring accountant.

• Earn a Bachelor's Degree: The minimum requirement for most accounting positions is a bachelor's degree. The most direct path is to major in Accounting. This curriculum will provide you with a solid foundation in core subjects like financial accounting, managerial accounting, auditing, taxation, and business law. If your university doesn't offer an accounting major, a degree in a related field like Finance or Business Administration with a concentration in accounting is also a viable option.

• Focus on Key Coursework: Pay close attention in your intermediate and advanced accounting courses, as these form the basis of the technical knowledge required for the job and for the CPA exam. Aim for a strong GPA, as many top firms and companies have a minimum GPA threshold for entry-level applicants.

• Meet the 150-Hour Requirement for CPA: In most states, you need 150 semester hours of college credit to be eligible for CPA licensure. A standard bachelor's degree is only 120 hours. This means you will need an additional 30 hours of coursework. Many students achieve this by:

  • Enrolling in a Master of Accountancy (MAcc) or Master of Science in Accounting (MSA) program.
  • Pursuing a double major or a minor during their undergraduate studies.
  • Taking additional courses at a community college after graduation. It's crucial to plan for this requirement early in your academic career.

The Certified Public Accountant (CPA) license is the gold standard in the accounting profession. While not required for all accounting jobs, it is essential for career advancement, especially in public accounting and for leadership roles in corporate accounting.

• Understand the CPA Exam: The CPA Exam is a rigorous, four-part examination that tests your knowledge of accounting principles and practices. The four sections are:

  1. Auditing and Attestation (AUD): Covers the entire audit process, ethics, and professional responsibilities.
  2. Business Environment and Concepts (BEC): Tests knowledge of corporate governance, economics, financial management, and IT.
  3. Financial Accounting and Reporting (FAR): The most comprehensive section, covering GAAP and financial statement preparation.
  4. Regulation (REG): Focuses on ethics, professional responsibilities, business law, and federal taxation.

• Meet the Requirements: Each state has its own board of accountancy with specific requirements to sit for the exam and become licensed. These typically include:

  • Education: The 150-hour credit requirement.
  • Exam: Passing all four sections of the CPA Exam within a specific time frame (usually 18-30 months).
  • Experience: Most states require 1-2 years of relevant accounting experience, verified by a licensed CPA.
  • Ethics: Passing an ethics exam.

• Prepare for the Exam: Most candidates use a CPA review course (such as Becker, Wiley, or Roger CPA Review) to study. This is a significant time commitment, often requiring hundreds of hours of study per section. It's common for graduates to study full-time for several months before starting their first job or to study while working.

Theoretical knowledge from your coursework is important, but practical, hands-on experience is what will get you hired and allow you to succeed.

• Secure Internships: Internships are the single most important part of your pre-professional development. An accounting internship, particularly a "busy season" internship (January-April) at a public accounting firm, provides invaluable real-world experience. You'll work on actual client engagements, apply your classroom knowledge, and build your professional network. Many firms extend full-time job offers to their successful interns.

• Network Actively: Building a professional network is key. Attend university career fairs, join student accounting organizations (like Beta Alpha Psi), and connect with accounting professionals on LinkedIn. Informational interviews can provide insights into different career paths and may lead to job opportunities.

• Target Entry-Level Roles: Your first full-time job will likely be as a Staff Accountant, Junior Accountant, or Audit/Tax Associate. Be prepared to perform foundational tasks and learn from senior members of your team. This initial experience is critical for building the skills you'll need to advance.

While every career path is unique, here is a general timeline for becoming an accountant:

• Years 1-4: Undergraduate Studies

  • Focus on your accounting coursework and maintain a high GPA.
  • Join student organizations and start networking.
  • Secure at least one, preferably two, accounting internships during your junior and senior years.

• Year 5: Meeting the 150-Hour Rule

  • Complete a master's program or take additional undergraduate courses.
  • Begin studying for the CPA exam.

• Years 6-7: Entry-Level Role and CPA Exam

  • Start your first full-time job as a Staff Accountant or Associate.
  • Focus on learning, developing your technical skills, and being a reliable team member.
  • Pass the remaining sections of the CPA exam and meet the experience requirement to become licensed.

• Years 8-10: Advancement to Senior Accountant

  • With your CPA license and a few years of solid experience, you'll be ready for a promotion to Senior Accountant.
  • You'll take on more complex work, begin mentoring junior staff, and gain more autonomy.

• Year 10 and Beyond: Path to Management

  • From the senior level, you can advance to Accounting Manager, Controller, or specialize in a niche area like forensic accounting or international tax. Your career path will be guided by your interests, performance, and continued professional development.

Can I become an accountant without a degree in accounting?

Yes, it is possible, but more challenging. If you have a degree in a related field like finance or business, you can take the required upper-level accounting courses post-graduation to meet the educational requirements for jobs and the CPA exam. Some employers will hire non-accounting majors for entry-level roles if they demonstrate strong analytical skills and a commitment to completing the necessary accounting coursework.

How long does it take to become a CPA?

From the start of a bachelor's degree, it typically takes about 5-7 years. This includes four years for the bachelor's degree, often one additional year for the 150-hour requirement, and 1-2 years of work experience while passing the four parts of the CPA exam.

Is an internship necessary to get an accounting job?

While not strictly mandatory, it is extremely difficult to get a competitive entry-level accounting job without internship experience. Internships are the primary way employers recruit new talent and the best way for students to gain relevant experience and confirm their interest in the profession. It should be considered a critical step.

What's more important: a master's degree or a CPA?

The CPA license is far more important for an accountant's career progression and earning potential. The primary reason most students get a master's in accounting is to meet the 150-hour educational requirement needed to obtain the CPA license. The license itself is the ultimate goal and the more valuable credential in the eyes of employers.