Pros and Cons: Things to Know Before Embarking on the Path Towards Becoming a CPA

When considering which career to choose, people who are good with numbers often consider training to become a Certified Public Accountant or CPA. Because the education required is extensive, and the testing for the certification so difficult, CPAs enjoy widespread respect and can command a considerable salary. While the job has a lot going for it, there are some downsides to consider. Before committing to this financial services career, take some time to consider these pros and cons.

The Pros of a CPA Career

Becoming a CPA doesn’t have to mean sitting in an office all day. Many accountants move past simple accounting to help their clients run businesses more efficiently. For example, manufacturers seeking new contracts must prove compliance with various standards to land new contracts. CPAs get the opportunity to evaluate these companies on location and conduct an extensive analysis of workflow and quality checks. Management consulting work is core to many accounting firms’ roles but is little known by many prospective candidates. Some alternative careers in the field are covered within Live CPA Review Courses that prepare prospects for the series of CPA examinations.

With the digitalization of the workforce, many CPAs find that working from home at least part of the time is a real option. Also, since good CPAs are hard to find, many firms provide flexibility in work hours. Instead of strict nine-to-five schedules, it is possible to work around home life. Of course, when meetings are called either internally or with clients, CPAs must show up on time. However, those meetings are increasingly being done online. Like most other office work, the way accounting is being done is changing. For many, that is a definite plus that can’t be discounted.

The Cons of a CPA Career

CPAs are professionals by definition. Professionals must adhere to high standards and can be held accountable if they make a mistake. Big legal problems can crop up when an accounting firm performs functions for which it is not fully qualified. Data breaches due to negligence cost clients money while devastating the reputation of an accounting firm and individual CPAs. Understanding the legal risks of operations is a must in this field.

To become a CPA, aspirants must get a minimum of a four-year degree. In many cases, CPAs go on to gain advanced degrees. They must also pass the difficult CPA exams. However, there are other avenues to pursue that don’t require the same level of commitment and financial investment. To do taxes, some people gain a license as a tax preparer and work under the supervision of a CPA. While this career path may be less lucrative, it requires less time to achieve.

Tax season takes a toll on accountants with its long daily hours and seven day weeks. Veterans recommend earlier start times during the busy season to increase the odds of leaving the office at a reasonable hour. The tax season can be a strain, but taking time off during this period is strongly frowned upon. Be prepared to work with little time off. It’s unavoidable.

If the ability to widen career choices and work a job with a great deal of flexibility most of the year sounds like a good fit, becoming a CPA might be a good choice. On the other hand, if the possible legal consequences, level of commitment, and intense work hours during tax season are off-putting, a different career choice may be in order. Knowing the pros and cons of this career prior to making a commitment should lead to a better career fit.