By Vicki Salemi
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"All of a sudden, accountants are in the news. With all the scandals, and all the money that's changing hands, the profession has started looking sexy, dangerous, and challenging," explains Eva Rosenberg, MBA, EA, publisher of TaxMama.com, and author of "Small Business Taxes Made Easy" (McGraw-Hill, November 2004). "Accountants aren't just boring geeks anymore. We're hot!"
With the demise of Arthur Andersen LLP and the Enron scandal, as well as the creation of the Sarbanes-Oxley Act in 2002 (which established a public accounting oversight board), Rosenberg's proclamation isn't far from the truth. Better known as SOX 404, the Act revised corporate governance standards, added new disclosure requirements, and created new federal crimes related to fraud.
One result of the legislation was an increased demand for well-trained accountants, so it's no surprise that colleges and universities have noticed a surge of interest. In fact, some schools like Baker College Online are rapidly expanding their curriculum.
After all, where there is interest, there is opportunity. And the media has helped generate much of the interest, say those in the field. "News reporting has a lot to do with it," explains Robert Payne, Baker's associate dean of business. " If something is in the news, it becomes news. people want to know about it and interest is piqued just as it is with [other] scandals ¬- entertainment, sports, or Hollywood."
Payne is in charge of piquing students' interest beyond the desire to enroll, and attributes online learning's technology to helping them connect numbers and concepts despite never setting foot on campus. "The technology performs all the [accounting] functions that were done in the traditional, on-ground classroom on paper. Other technologies like video-cams, scenarios, and simulations of real-world events, often in real-time, make distance delivery of accounting programs possible."
Adam Mikolajczak, a Baker Online student who has taken several online accounting classes agrees. "Instead of dry textbook theories, practical terms seem to come alive," he notes.
Additional benefits to online learning allow students to not be limited by geography, schedule, or accessibility. For Derek Thompson, an online student at American Intercontinental University (AIU), flexibility is key. As he pursues a degree in business administration with an emphasis in accounting, the husband and father of an 11-year-old girl works full-time. "Studying online allows me to attend classes without eliminating family time, since I don't have to travel or attend classroom sessions."
Larry Callahan, also a student at AIU, is able to supplement his present position with the credentials he needs to advance. "[Online study lets me] continue to run my life as I did before, but at the same time earn a valuable degree that will enable me to grow professionally."
As the accounting manager for a mid-sized insurance agency in New York, Larry moved up the ranks by what he calls "plenty of hard work and a generous supply of support from my employer." Currently he's being groomed to become CFO, however, he lacks the formal education to lead with confidence. Once he completes the associate portion of his degree this month, he will continue on in AIU's online bachelor's program in business administration. "It is my intention to continue to apply myself to my classes so that I can achieve the greatest results from my efforts."
While the online aspect has made the pursuit of accounting a reality for many, the employment aspect of online accounting degrees is hot as well. Steven Rothberg, president and founder of Minneapolis-based CollegeRecruiter.com, a site that connects job-hunting students and recent grads with employers, indicates accounting degrees are highly valued from a job-searching perspective.
"Online education is booming as the technology gets better and better and more schools become accredited and are accepted by employers. No longer are on-line schools seen as diploma mills," Steven explains. With corporations and accounting firms having a lot more work to do in order to ensure compliance, they need to hire a lot more accountants. And, the surge is seen not only in large firms, points out Steven, but small ones as well.
Steven T. Cirillo was a partner at a small public accounting firm for 13 years before he decided to start his own CPA firm. Now, four years later, he is a sole proprietor who prepares individual and corporate taxes, and specializes in auditor non-profits.
"The career opportunities in a small firm are unparalleled. They generally do audit, tax, and consulting work, affording staff exposure to all three, explains Cirillo. "No day is the same; exposure to managers and partners is abundant, working closely with the client is immediate. While technical expertise is critical, relationship management is also essential to be successful. This aspect of the career has been undersold in the past. Today, it is vital."
Crunching the Numbers
- The number of accounting degrees awarded nationwide in 2003 jumped 11 percent from the previous year.
- The largest accounting program in the nation, at Florida International University in Miami, saw a 43 percent increase in accounting master's students over the past three years.
- In 2003, a starting salary for bachelor's degree holders was $40,647; for master's degree candidates it was $42,241.
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