Follow
5 Career Tips For Younger CPAs
- Acquire New Knowledge Of Financial Concepts
- Network With Other Professionals
- Acquire New Technological Knowledge
- Understand Taxes
- Know The End Goal
Young CPAs need to take their career growth seriously in order to remain competitive in today’s environment. Doing so can make them more attractive to clients and employers. It will also broaden their knowledge base so they can offer additional services and be less likely to commit errors. These five tips can help beginning CPAs plan and achieve the career they want.
1. Acquire New Knowledge Of Financial Concepts
Continuing to achieve greater levels of knowledge is beneficial for young CPAs for a number of reasons. It helps CPAs get promoted or obtain a more desirable position. It allows them to appeal to a broader range of clients and provide more services. It helps them become a more respected professional in their field. Continuing education should also include accounting best practices. Knowledge of best practices makes it less likely mistakes will be made and it protects CPAs against liability. Another area CPAs can expand into is additional and specialized credentials. CPAs with knowledge in specific areas of accounting are in bigger demand than CPAs without a niche or additional credentials.
2. Network With Other Professionals
Personal and professional connections are key to not only getting a job but also to grow professional influence. The American Institute of CPAs (AICPA) recommends this course of action without question. Networking can be done with anyone, including personal friends, family members, other professionals and more. It can never be known what connections another person may have until asked. This is why CPAs of all ages should always be seeking to forge new connections. Doing so will help them learn more about the profession, land better roles and build their professional reputation.
3. Acquire New Technological Knowledge
The technology used heavily by every industry is constantly changing, and the accounting field is no different. New technology will continue to come out and CPAs must be able to adapt to it. New CPAs should already be familiar with software programs currently in use by much of the industry, such as QuickBooks. They should also, however, expand their horizons and learn how to operate major competitors such as Xero and industry-specific accounting programs. These programs are tailored to specific industries, such as Caliber for property management firms, yet integrate accounting features.
4. Understand Taxes
Even CPAs who do not prepare tax returns should have a firm understanding of taxation. This includes staying informed regarding any changes to the tax code and tax law. This knowledge helps CPAs offer the best financial advice to their clients. Accountants working for a business, for example, need to be able to properly prepare for taxes and inform business owners about their tax liability. This can become quite complicated for larger corporations, and it’s the CPA’s job to understand it all for the sake of everyone else at the company.
5. Know The End Goal
A solid career path cannot be charted out without having the end goal in mind. For this reason, CPAs of all ages and experience levels should constantly be thinking about what comes next. It’s always acceptable to change course while on a career path. Goals, wants and needs change throughout the course of a career and should be integrated into any existing career plan. Younger CPAs unsure about what they ultimately want are advised to do heavy research into the options available to them and inquire about the subject to professionals already in the roles they are considering.
Landing the first job is only the beginning. Smart CPAs are always looking to the future and considering where they want their career to go next. With these tips in mind, young CPAs can begin taking important steps to grow their fledgling careers.