Accounting STEM Pursuit Act

Jul 22, 2021 | CPA Blog |

As technological advances have changed so much of what accountants do and how we do it, the AICPA is addressing this from an educational standpoint by strongly supporting the Accounting STEM Pursuit Act of 2021. This act would establish accounting as a STEM (Science, Technology, Engineering, and Mathematics) curriculum, providing the logical connection between technology and accounting.

Historically, since the first personal computer was introduced, accountants have ensured their understanding of technology, using it to create more efficiency processes and provide the best client services possible. This use of technology has only continued to grow exponentially for accounting professionals, creating new ways to work more effectively with larger amounts of data.

From its use in managing and analyzing data, ensuring data security, and solving increasingly complex problems, technology has opened the door for accountants to develop ways to maintain the safety and security of their client’s data, while also performing their job functions remotely, rather than on site. 

With this in mind, it’s easy to see how accounting falls into the STEM category, and how the inclusion of accounting within the STEM professions will also provide a more diverse talent pool.

In the educational system, STEM courses are often highlighted by teachers, influencing the career path choices of their students. Introducing accounting into the STEM program will promote more discussions about career options within accounting, and help increase student interest in the subject.

More importantly, this will also provide high-quality instruction to students through grade 12, especially to those groups that are underrepresented within the accounting profession. The Accounting STEM Pursuit Act will help provide better resources for students to learn about career options in accounting, and increase the exposure to the technologies accountants have access to. 

Those individuals interested in pursuing a career in accounting will need to have a strong understanding of technology areas, inside and outside the scope of accounting. For instance, technologies such as cybersecurity, information security, system controls, blockchain, and data analytics, will play a vital role. 

The AICPA not only plans to continue to educate and express the importance of this bill to lawmakers and staff, but they’re also providing accounting instruction and programs for students through their CPA Evolution. This program helps provide CPAs with the knowledge and skills needed to be successful in the accounting profession, as well as to universities to help students transition from the school setting into their chosen career. 

Stay tuned as we will update you on this important piece of legislation.

 

Source: https://www.journalofaccountancy.com/podcast/cpa-news-accounting-as-stem-career-irs-dirty-dozen-tax-scams.html