In sagging economy, jobs for accountants flourish
Issue date: 3/8/09 Section: FYI
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While America's politicians struggle to implement a rescue package and reforms, accountants stand poised to play a key role in helping to rebuild the economy. That means opportunities for accounting jobs will continue to expand. In fact, the U.S. Department of Labor has predicted continuing growth in accounting fields for the foreseeable future.
"Following the 1929 crash that led to the Great Depression, accountants took a critical role in helping to implement the regulations created by the then newly formed Securities and Exchange Commission," says Michael Brown, a CPA and instructor at DeVry University's Keller Graduate School of Management in Fort Washington, Pa. "Just as at that time, today much damage has been done to the public's confidence in our financial system. Just like in the 1930s, accountants will have to lead the way in restoring that confidence by working to provide information that people can understand and, more importantly, believe in."
"One of the keys to rebuilding the economy is to increase the confidence level of ordinary people," agrees Andrew Hildebrand, a CPA and dean of business programs at DeVry University's Fort Washington campus. "In times like these, people are looking for someone to help them navigate financial uncertainty. Accountants are able to assist individuals in planning for a possible layoff or to manage their budgets if the person is on unemployment."
Ashton Isenberg, a DeVry graduate who is now office manager and accountant at Kathryn E. Humecki & Associates, Ltd. in Olympia Fields, Ill., agrees. "The key is good advice," she says. "We have so many clients coming in that just got bad advice from someone. We see a lot of business owners who have been told what they want to hear so that whoever is 'advising' them gets a good pay day. That's not how we work. It's vital to create a strong relationship with clients and give them the best advice for their company."
Demand is growing for professionals to fill traditional accounting roles in emerging sectors like the government. "A variety of federal agencies like the FBI, IRS, DFAS and DCAA are seeking talented financial professionals for a variety of positions," Brown says. "There are also tremendous opportunities in higher education; need for professors of accountancy is critical. We're seeing accounting firms and organizations that are willing to fund doctoral candidates in accounting in order to bolster the pipeline for future college professors."
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