Record Number of Accounting Grads

From the Texas Society CPA Update

Accounting Degrees Continue Historic Upward Trend
According to a recently released report from the American Institute of CPAs (AICPA) titled 2009 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits, the number of students who graduated with accounting degrees in the 2007-2008 school year surpassed the previous year’s record level. The more than 66,000 bachelor’s and master’s degrees in accounting marks a 3.5 percent increase from 2006-2007 and is the largest number of graduates since 1972, the year AICPA began tracking the data.

Comments

[Luis Vera]

But is it enough to out pace the overall profession attrition (individuals retiring or just leaving the profession altogether)?

[Dennis Elam]

THis number was not rising but is now

I suspect a lot of people will not be retiring as soon as they thought.

I believe the demand will continue to go up for accounting majors who have specific skill sets and outcomes in terms of cutting costs achieving budget targets and understanding how firms make money.

My information is that demand is down in this recession.

[Jeff McDowell]

What does this mean for those of us in school now? Do you have any comments or anecdotes regarding recent accounting job hunts in Texas?

[Dennis Elam]

Jegg

Good question

I have received notice that the Dallas Cert Mgt Accountants are sponsoring hlep session for their group now looking for jobs.

One student reports that Dallas KPMG laid off every new recruit that did not pass the cpa exam.

My point being as always it is important to pass the first time.

Better firms will tend to keep hiring accounting students as they focus on cost cutting and revenue enhancement. THis would not be a good time to major in say HR, employees are being laid off not hired.

I will do some research on this for all of you.

[Tina C]

Best bet for accounting majors is to LEARN what is being taught and, if the opportunity arises, do an internship or get a part-time job to supplement your "book" learning. Supplement your college with practical knowledge such as accounting software packages, spreadsheets, databases and hands-on work.

It's a competitive market, but build yourself a good resume and there will be opportunities. Poor resumes/grades/lack of skills will be the ones who will have a harder time finding accounting jobs....