Accounting Majors: The Importance of Learning Beyond the Classroom
August 17, 2011
The Associated Press named “Accountant” as one of five
fast-growing jobs despite the weak economy. This is bright news for accounting majors returning to college this fall, but according to IMA®, the global association exclusively for the management accounting profession, students must strengthen their accounting knowledge outside the classroom to better position themselves for success in the job market.
“The U.S. Bureau of Labor Statistics indicates the employment of accountants and auditors is expected to grow by 22 percent between 2008 and 2018, which is a faster pace than other occupations. This will lead to more young professionals entering the workforce and increased competition for entry-level jobs,” said Brian L. McGuire, Ph.D., CMA, CPA, CBM, CITP, IMA Chair and Associate Dean and MBA Director of the University of Southern Indiana. “Becoming involved in professional associations and networking are two options for students who are looking for a leg up on the competition.”
According to Dr. McGuire, many students will eventually work in management accounting positions within organizations, which are distinct from jobs in public accounting. In order to stand out in the talent pool, a broader range of skills is required such as financial planning, risk management, budgeting and financial analysis. The only way to attain these skills is to go beyond college textbooks and lecture halls and explore the realm of accounting possibilities outside the classroom.