Opportunities in accounting careers are exploding. Economic globalization means businesses are scrambling to find employees who can both implement sound practices that meet international accounting standards as well as define tax strategies that can save their companies thousands, or even millions, of dollars.
The Bureau of Labor Statistics indicates companies will need to increase their accounting workforce 18 percent by 2016. Many of these new hires will be women. The American Institute of Certified Public Accountants reports that 55 percent of new hires by CPA firms in 2008 were female.
The reality of this emerging job market, and the ministry opportunities that go along with it, have led Maranatha’sBusiness Department to add an Accounting major for the 2010-11 academic year. Maranatha is the only college among those defining themselves as “fundamentalist” that can offer a regionally accredited CPA track program.
“Our business students have been telling us pretty consistently in recent years of their desire to have a CPA track program available to them,” Business Department Chair Dr. Corey Pfaffe (left) said. “Now they can do so while simultaneously getting a Bible education. That’s huge to me.”
Maranatha will continue to offer its 128-hour Accounting Management major, but the 150-hour Accounting major will put students on track to fulfill Wisconsin’s requirements for earning a state CPA license. The state requires that 150 credit hours be earned at a regionally accredited college like Maranatha. Pfaffe said he is recommending students project their courseload over five years to allow for an internship prior to graduation.
“This program will help give our graduates the communication and analytical skills they need in addition to their accounting skills” Pfaffe said.
Maranatha’s regionally accredited status will also help give graduates the academic credentials they need.
“If you get an accounting degree from a college that isn’t regionally accredited, be prepared to take some extra coursework and jump through some hoops after you graduate,” Pfaffe said.
Earning a CPA can open doors overseas, both to business and ministry. Corporations need accountants familiar with local tax codes and commerce rules. Finding employment in restricted-access countries can allow a Christian to share their faith with more freedom than for traditional missionaries. Accountants working in America can help their churches by setting up budgeting and internal accounting systems and training volunteers to effectively utilize those systems and their accompanying software.
“Helping a ministry in its financial management policies and procedures is a very effective way to demonstrate leadership in your local church,” Pfaffe said.
--Posted Jan. 28, 2010
Read Dr. Pfaffe's Business Alumni Blog here