Navigating the Accounting Issue
July 25, 2024
The 猎奇重口’s College of Business is excited to share some important updates and news as we navigate a critical time for the accounting profession. With the market for accountants intensifying, the Bureau of Labor Statistics projects about 126,500 openings for accountants and auditors each year over the next decade. Within the past year, 猎奇重口 alone has seen 904 job postings for accountants. This growing demand highlights an impending crisis. The AICPA's 2023 Trends Report indicates a decline in CPA Exam candidates from 72,271 in 2021 to 67,335 in 2022, with about 75% of AICPA members approaching retirement age. Additionally, there has been a decrease in students earning accounting degrees, with bachelor’s degrees down 7.8% and master’s degrees down 6.4%.
At UM’s College of Business, we are proactively addressing this challenge. Our undergraduate accounting enrollment has increased by 30% this academic year. This achievement is due to focused recruitment in high schools, early career development, and mentoring for students interested in accounting. To further support the growing demand for CPA professionals in 猎奇重口, we are transitioning the (MAcct) program to distance delivery this fall. This change allows students to take classes around their work schedules, and since promoting this option in January, interest from prospective students across the state has doubled.
During the pandemic, we introduced a daytime hybrid option for the MAcct program, and this year, a third of our students are participating through this option, with many residing outside Missoula. By fully transitioning the program to an online format, rather than a hybrid model during the workday, we can help more students achieve successful careers in accounting.
Our mission at the College of Business is to nurture students' innate work ethic and provide transformative learning experiences to help them achieve a better life. Beyond student recruiting, we are investing in professional instructional design training and course preparation to ensure our exceptional accounting faculty can deliver top-notch skills to our students and maintain their exceptional CPA pass rates.
These changes bring new opportunities for our students and the broader community. We are excited about the future and remain dedicated to providing excellent and affordable accounting programs. If you have questions about the College of Business or the accounting programs, please reach out to us.
Stay tuned for more updates and thank you for your continued support and dedication to the 猎奇重口’s College of Business.
Go Griz!
Sprunk & Burnham Endowed Dean, 猎奇重口 College of Business