Reasons Accounting Should be a STEM Field

7 Reasons Accounting Should Be a STEM Field

 

1) A STRONG ACCOUNTING PIPELINE PROTECTS PUBLIC INTEREST

As gatekeepers of the financial markets, CPAs leverage technology to help investors and business leaders navigate complex issues. Recognizing accounting as a STEM field will help ensure future generations of CPAs are highly skilled and prepared to meet the public’s evolving needs.

2) STEM PROGRAMS BENEFIT U.S. EMPLOYERS AND RECENT GRADUATES

Hiring employees from STEM-designated programs can strengthen a company’s technological competitiveness, encourage innovation and improve cultural diversity. International students graduating from STEM- designated programs at U.S. universities qualify for two extra years’ stay in the country — benefitting both employers and international students. today.


3) DIVERSIFYING THE ACCOUNTING PROFESSION IS MORE IMPORTANT THAN EVER

While 41 percent of accounting graduates identify as a racial or ethnic minority, the profession still has a long way to go. If passed, the House and Senate bills would allow K-12 grant funding to be used for accounting awareness and education, with a focus on improving access for underrepresented groups.

4) ACCOUNTANTS INNOVATE TECHNOLOGY TO DRIVE TRANSPARENCY AND PROSPERITY

Technology continues to revolutionize the accounting profession, and students must be prepared to meet the challenges of tomorrow. CPAs and accountants now develop automation software to improve audits, use data analytics to predict trends and leverage AI to assess risk of fraud.


5) STEM WORKERS ARE CRITICAL TO MAINTAINING THE HEALTH OF CAPITAL MARKETS

Nearly 10 million people work in a STEM field, generating $2.3 trillion annually for the U.S. Similar to other complex professions, accountants and CPAs harness technology to generate trust in markets, transform businesses and strengthen economies.

6) MORE STUDENTS CAN PURSUE A PROMISING CAREER IN THE FINANCIAL INDUSTRY

Students in underserved communities are often denied access to AP courses, locking them out of critical college and career opportunities. STEM recognition for accounting will help expose students from all backgrounds to the profession — and set them up for success. On average, employees in STEM fields earn 65 percent more than their peers in non-STEM occupations.

7) POLICYMAKERS FROM ACROSS THE AISLE SUPPORT ACCOUNTING IN STEM

Bipartisan bills recognize the value of the profession. By voting to designate accounting as a STEM field, policymakers will expand access to education and jobs, support businesses, and strengthen the economy.

Learn more about this pioneering legislation

 

 

 

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