Could a STEM Designation Help the Accounting Workforce Shortage?

Authors

  • Randall B. Bunker University of North Alabama
  • Corey S. Cagle University of North Alabama
  • Gregory A. Carnes University of North Alabama

DOI:

https://doi.org/10.33423/jhetp.v24i10.7306

Keywords:

higher education, STEM designation, accounting profession, workforce shortage

Abstract

The US is facing a shortage of accountants in the workforce, with numerous positions going unfilled every year. The number of college graduates earning a bachelor’s or master’s degree in accounting and the number of graduates sitting for the CPA Exam has also declined in recent years. The AICPA created an advisory group to help shape a national strategy to address the talent shortage, and one potential strategy is for accounting curricula to earn a STEM (science, technology, engineering, and mathematics) designation. Many believe a STEM designation would attract more international students to this field of study and help alleviate the shortage of qualified accounting professionals.

References

American Institute of CPAs (AICPA). (2023a). AICPA endorses key legislation recognizing the link between accounting and STEM. Retrieved October 2023 from https://www.aicpa-cima.com/news/article/aicpa-endorses-key-legislation-recognizing-the-link-between-accounting-and

American Institute of CPAs (AICPA). (2023b). Trends report. Retrieved November 2023 from https://www.aicpa-cima.com/professional-insights/download/2023-trends-report

Association of International Certified Professional Accountants (AICPA & CIMA). (2023). STEM toolkit. Retrieved October 2023 from https://www.thiswaytocpa.com/segmented-landing/stem-initiative/

Blacharski, D. (2023). The transformation of accounting in STEM. Retrieved November 2023 from https://www.aicpa-cima.com/professional-insights/article/the-transformation-of-accounting-in-stem

Carpenter, D. (2023, March/April). Is accounting a STEM field? Why it matters. Today’s CPA, pp. 6–7.

Deem, D. (2022). Legislation introduced in Senate to recognize accounting as a STEM field in K-12 education. Retrieved October 2023 from https://www.journalofaccountancy.com/newsletters/extra-credit/legislation-introduced-recognize-accounting-as-stem-k-12-education.html

Ellis, L., & Overberg, P. (2023, October 7). Why no one’s going into accounting. Wall Street Journal.

Moore, W.B., & Felo, A. (2022). The evolution of accounting technology education: Analytics to STEM. Journal of Education for Business, 97(2), 105–111.

Niehaus, D. (2022). Fixing the crisis in accounting. The CPA Journal, 92(9/10), 10–11.

Politico. (2023). Reasons why accounting should join other tech professions as a STEM field. Retrieved October 2023, from https://www.politico.com/sponsored-content/2023/04/seven-reasons-why-accounting-should-join-other-tech-professions-as-a-stem-field

Twiste, L.G. (2022). STEM solutions. New Jersey Business, 68(12), 35–37.

Downloads

Published

2024-10-25

How to Cite

Bunker, R. B., Cagle, C. S., & Carnes, G. A. (2024). Could a STEM Designation Help the Accounting Workforce Shortage?. Journal of Higher Education Theory and Practice, 24(10). https://doi.org/10.33423/jhetp.v24i10.7306

Issue

Section

Articles