150-Hour Rule Not To Blame For Decrease - fewer accounting majors - Brief Article

California CPA, Jan, 2001

A new report, "Accounting Education: Charting the Course through a Perilous Future," reveals a possible reason for the recent 23 percent decrease in the number of accounting majors: beginning salaries and misinformation.

According to the report by the American Accounting Association, AICPA, Institute of Management Accountants, and Big Five, the decrease is related to a number of factors unrelated to the 150-hour program.

The report notes that many college students choose their major based on starting salaries, adding that today's salaries for CPAs lag behind salaries in other professions.

Also, the report blames misinformation and lack of information about accounting programs and careers for a decline in interest. According to the report, high school guidance counselors have outdated versions of what skills are needed to become a CPA. Also, high school accounting courses are often either not offered or have too much emphasis on numbers.