Challenges faced by CPA’s in the United States

Deciding to start a career as a Certified Public Accountant could turn out to be a very lucrative and satisfying career however with the state of the economy and things that are ever changing today there are quite a few challenges you might face with your chosen career path. 

The days of the reliable accountant with a personal approach and briefcase in hand are being suppressed by technology. When looking at the challenges that CPA’s face today it is adamant that you would need to set yourself above the rest by constantly providing your existing and new clients with a fresh approach to their financial side of business.

It is challenging to obtain new clients

​Today there are applications and software packages available which allows any individual or business to take care of their taxes and financial reconciliation in a “do it yourself” way. This make it challenging for CPA’s to obtain clients as it would seem like an expensive luxury to hire someone specialized in the field to handle your financial matters when it is just so much simpler to do it yourself. It is however necessary to have a certified individual to handle certain intricate financial tasks. This brings the power back to the CPA. Studying for that period of time gives you bragging and signing rights and gives you the upper hand with financial reconciliation and budgets.

The economy doesn’t allow the luxury of a CPA for a certain few

​With the recession and financial crisis faced by companies today statistics show that CPA’s might obtain clients but have a great difficulty in retaining their client base. The golden secret here is to keep your services updated in other words add more value to the service you offer to your clients. Stay up to date with software packages available and in a sense make yourself indispensable to the client. This step will most certainly take you off the list of dispensable expenses and allow you to conduct business as usual to your clients.

Job stability as a challenge for CPA’s

​Studying in a direction and choosing your career path is a big decision and most of the time you would need to see yourself in the position that you are studying for. More important than anything you would need to find the right fit for you in the company that you select to work at. To get the right growth and potential that you need, choose the right company. Job hopping from one firm to another will not give you the best profile or representation to potential clients. Once you are qualified as a CPA you would have to decide whether you would like to work and grow with a company or if you would like to work independently and become an independent certified financial professional that works for a variety of companies. Whichever path you choose would allow you to gain stability and a great reputation for clients.