How to Choose Accounting as a Mid-Career Change

By Mark Macaluso

It’s hard enough to choose a career, let alone decide to change one midstream when you’ve already worked for a while in a particular field. However, when planned correctly and executed well, a career change at any age allows you to explore newer and more lucrative options. So if you’re thinking of venturing into the realm of accountancy, here’s what you need to do:

• Consult your state’s accountancy board to see what you need to do to qualify. Pre-requisites vary from state to state.
   

• Earn a four year bachelor degree if you want to become a CPA or a two year degree if you don’t mind being just an accountant; however, as someone who already holds a job, you may already have a degree, and even if it’s not in accountancy, it holds good.
   

• Sign up for accountancy courses and earn 30 hours of credit in the subject. Check with your state as to the number of credits you need. They generally vary between 24 and 30. Any accountancy courses you’ve taken in college also count.
   

• You may need to take additional courses in finance, business management and economics if you haven’t studied these subjects at the college level.
   

• Although it’s not absolutely necessary, a degree in accountancy helps; you can earn one online in less than two years if you’re so inclined.
   

• Gain some experience in the field, through freelance work or by working for an organization or firm.
   

• If you want to get ahead and become a CPA, check if you have 150 hours of college credit.
   

• Sign up for a CPA review course – there are many available so choose one based on cost and other considerations. Start preparing to take your CPA exams.
   

• Check your state’s requirements to qualify for the CPA exams, download the application form from the concerned site, and send in your application.
   
• You must be able to give the examination board recommendation letters from people who will vouch for your character, moral fiber, and accountancy skills.
   

• You must pass all four parts of the CPA exam – auditing, business environment and concepts, financial accounting and reporting, and business regulations. You’re allowed to take any of the four again if you fail in prior attempts.
   

• Once you’ve become a CPA, you must renew your license every two years through continued education and at least 40 CPE credits each year – these can be earned by attending CPA workshops and seminars conducted throughout the year.

Accounting is a good career choice because jobs are plentiful, the work is recession-proof, and you’re able to earn a decent living. You can choose from jobs in public accounting, government positions, management accounting, and internal auditing. Some people prefer to work for themselves and provide accounting and auditing services on a freelance basis. Those who don’t have a CPA certification are not likely to earn as much as those who do, so if you’re set on working in this field, it’s best to go ahead and attempt the exam.

Do you work in accounting right now? Have you transitioned into it sometime in the last few years? Do you have any advice for someone wanting to get into the field?

This guest post is contributed by Mark Macaluso, he writes on the topic of Masters in Accounting . He welcomes a your comments at his email.

OutOfYourRut Note – Do you have a career transition story that could benefit others? Would you like to tell others about it? Drop me a line and I’ll be glad to consider postng it. Millions of people are unemployed and looking for direction. Someone could find their way into a new field from your story.—Kevin