The impact of certifications on accounting education.

The employment of accountants and auditors is expected to grow through the year 2016, according to the 2008-2009 Occupational Outlook Handbook from the U.S. Department of Labor. Corporate governance reforms, an increasingly global business environment, and rapidly changing technologies are fueling

a need for accounting and finance professionals with advanced skills and up-to-date knowledge. These factors have heightened the demand for individuals who have demonstrated their accounting expertise and commitment through certification or licensure. According to the Handbook, "The best job prospects will be for accountants and auditors who have a college degree or any certification ..."

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Certification provides a distinct advantage in the job market. In a survey by Robert Half International (RHI), a large majority of CFOs said that earning a certification is valuable for an accounting professional's career advancement. A certification helps an individual stand out in the crowded marketplace, and it also signals to employers that a job candidate has the requisite skills needed to perform a specific job. The RHI survey found that certain credentials are particularly desirable to employers, including the Certified Management Accountant (CMA[R]), Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Fraud Examiner (CFE), and Certified Information Systems Auditor (CISA) designations.

There are also financial benefits to earning a certification. The Institute of Management Accountants (IMA[R]) 19th Annual Salary Survey (Strategic Finance, June 2008) found that IMA members who have a certification receive a higher average salary and average total compensation than those who don't have a certification. On top of that, the differences in compensation continue to grow throughout an individual's career.

For most practicing accountants, business education involves four to five years of rigorous coursework culminating in an accounting degree. Most college accounting programs focus on developing students' technical, oral, written, and interpersonal communication skills as well as providing exposure to organizational skills and technology. But many accountants find that their degree alone is insufficient for achieving their career goals, so they choose to obtain a certification to help them move closer to their goals.