How to Become an Accountant: A Guide for Prospective CPAs, CMAs and More

Most people assume becoming an accountant is straightforward. But that’s not entirely true. Accounting is a huge field.

That’s a nice perk of the industry in one sense. Becoming an accountant is an excellent way to keep your future role options open while also targeting lots of job security.

After all, staying compliant with tax law and regulatory changes alone has only gotten more complex over the years. And professionals who know what to do with financial data and how to prepare, audit or correct financial statements are needed in every organization.

But the vista of options and roles within accounting can make it tricky to get started.

Whether you are starting with a high school diploma or have a prior career under your belt, read on!

This guide will walk you through what it takes to become an accountant, whether you plan to become a certified public accountant (CPA), a certified management accountant (CMA^®)—or branch into another area of accounting.

Rasmussen University’s Accounting Certificate, Accounting Associate’s and Accounting Bachelor’s degree programs are not designed to prepare graduates for any state-issued professional license or certification. Rasmussen University’s Accounting Certificate, Accounting Associate’s and Accounting Bachelor’s degree programs do not meet all educational prerequisites for licensure as a Certified Public Accountant (CPA) in any state.¹

1. Choose a bachelor's accounting degree program OR supplement your existing degree

Most employers require their accountants to have at least a bachelor’s degree in accounting or a similar field (like business), according to the Bureau of Labor Statistics (BLS).²

A bachelor's degree with specific work experience requirements are common requirements of eligibility for accountants who want to become certified public accountants or certified management accountants. But each state determines the eligibility standards, so definitely look up the information for your location before you pursue a degree.

If you already have a bachelor's degree, shorter accounting programs can be a good way to work through the subject areas accountants need to understand. Tax law, keeping financial records, understanding the government agencies and regulations that businesses must stay compliant with—accounting professionals need to know a lot (beyond how to use an Excel^® spreadsheet.)

With the employment data out there, prospective accountants should definitely have a bachelor's degree on their resume. But if you are still unsure about the field, there are ways to dip your toes in the water of accounting without taking the full plunge.

Job titles like bookkeeper, accounting clerk or auditing clerk can offer a lower bar of entry for people with an associate's degree or previous accounting experience. These positions can also be experience-building stepping stones if you want to take an incremental path toward working as an accountant.

For more on how that might work, check out What Is a Bookkeeper? The Perfect First Step for Aspiring Accountants.

2. Decide between public vs. private accounting

Before you choose an accounting degree program, you should consider if you are most interested in working in the public or private sector. CPAs are public accountants and CMAs are private accountants.

For a deep dive into the differences, see Public vs. Private Accounting: Your Guide to Choosing a Side.

This is a good time to start mulling over the type of work you really want. Tax accountants have a very different role than cost accountants, for example.

Forensic accounting would put you more in the legal industry, while working as a certified management accountant would involve more finance knowledge, risk assessments and strategic planning. Additional education, work experience or certification may be required to work as a forensic accountant.

Public and private accounting are often used as shorthand for the type of work accounting professionals do, but these umbrella terms are pretty vague. Public accountants are usually CPAs who work with tax compliance. Private accountants tend to be CMAs who work with finance management. But there are a lot of other roles that can fit under the public and private categories.

Public accountants work with a variety of clients to prepare financial documents, such as taxes. Private accountants work for a specific organization, preparing and analyzing reports for internal executives. The difference may seem simple, but there is a pretty dramatic difference in work environments. So it’s important to decide which option you prefer.

Those larger designations might work for you, or you might find yourself interested in a more niche area of accounting as you work through a program. Either way, it's helpful to start your education with a plan on what type of accounting you want to do.

(Check out 9 Types of Accountants Who Do More Than Just Taxes for a few more ideas.)

3. Graduate from an accounting program

This is the part where you buckle down and learn! A great accounting program will teach you best practices, industry requirements and business scenarios to prepare you for a successful future in the accounting world.

Make sure the program you choose is a good fit for your need.

It’s also a good idea to consider pursuing an internship (or an externship) while in school. While some programs may not require them, it’s never a bad thing to gather some real-world experience.

You may also be able to find entry-level positions in accounts payable/receivable or tax preparation as you work your way through school. Any of these opportunities can help your resume stand out to future employers!

4. Start an entry-level job

Accounting credentials like CPA and CMA require some additional study and standardized exams that aren't part of your college education. Plus, you need to meet specific work experience requirements before you are eligible to take them. So, the next step after graduation should be starting a job!

Please consult the IMA^® and your state’s board of accountancy or equivalent oversight agency for details regarding the work experience requirements to sit for the CPA and CMA^® exam.

Search local job boards for staff accounting positions, polish up your resume, ace the interview and get started building experience.

From here, you should have a good understanding of what (if any) accounting credential you’ll want to pursue, so you’ll want to study up on the specific need-to-know subject areas of the exam or exams ahead of you.

5. Take your CPA or CMA exam

Once you've gained some work experience, you can start your exam process.

How to take the CPA exam

Becoming a certified public accountant (CPA) is a popular route for accounting grads since you can't file a report with the Securities and Exchange Commission (SEC^®) without that license. According to the BLS, employers may pay the costs associated with the CPA exam.¹

The CPA will allow you to work as a licensed tax accountant in the area where you receive your license.

Check CPA eligibility requirements for your state and follow these steps, according to the CPA exam candidate guide from the National Association of State Boards of Accountancy (NASBA^®).³

Step one: Apply

You can apply to take the exam through your state's accountancy board. Use AICPA's^® list of state accountancy boards. You will need to also pay the fee for the exam. (Some employers will reimburse this. It's worth asking about!)

Step two: Study and wait

Wait for an email notifying you that NASBA has cleared you to take the exam. While you wait, review a tutorial and take a sample test to familiarize yourself with the format. When the email arrives, you can schedule your exam time.

Step three: Take the exam!

You've got this! Follow the directions and show that test what you've got.

Afterward, you can follow NASBA on social media to keep a close eye on their or score release dates.

How to take the CMA^® exam

Not all accountants need to file with the SEC^®. If you lean more toward the finance side of accounting work or if you might be interested in working towards a role as a chief financial officer (CFO), going into management accounting might be more your speed.

Getting certified as a management accountant involves the following steps, according to the Institute of Management Accountants (IMA^®).

Step one: Register

Register for the two CMA exams (part 1 and 2) in any order at the IMA website. You will need to verify your eligibility by reading through the CMA handbook, and there's a fee to take the exam.

Step two: Study up!

Check out these useful CMA exam review materials.

Step three: Take the CMA exam

Head to the designated Prometric^® testing center in your area, and take the exam on your scheduled day. You've got this!

Is accounting worth it?

Now you know how to become an accountant, and you can see that this career takes determination. No one just wakes up as an accountant one day. But with the right planning, your journey into this career doesn't need to be daunting.

In fact, for many, starting this new career pursuit can be pretty exciting. You might be thinking, Do 'exciting' and 'accounting' really go together?

Well—yes! Find out why at 10 Accounting Pros and Cons to Consider—Before You Make it Your Major.

Certified Management Accountant is a registered trademark of Institute of Certified Management Accountants AKA Institute of Certified Management Accountants CORPORATION
SEC^® is a registered trademark of U.S. Securities and Exchange Commission
Prometric^® is a registered trademark of PROMETRIC LLC
IMA^® is a registered trademark of Institute of Management Accountants
AICPA^® is a registered trademark of American Institute of Certified Public Accountants
NASBA^® is a registered trademark of National Association of State Boards of Accountancy, Inc.

¹Rasmussen University’s Accounting Certificate, Accounting Associate’s and Accounting Bachelor’s degree programs are not designed to prepare graduates for any state-issued professional license or certification. Rasmussen University’s Accounting Certificate, Accounting Associate’s and Accounting Bachelor’s degree programs do not meet all educational prerequisites for licensure as a Certified Public Accountant (CPA) in any state. Each state determines its own requirements. Please consult with your state’s board of accountancy or equivalent oversight agency for further details. Rasmussen University’s Accounting Certificate, Accounting Associate’s and Accounting Bachelor’s degree programs have not been approved by any state board of accountancy or other professional licensing agency. The coursework in Rasmussen University’s Accounting Bachelor’s degree program is aligned with the standards of the Institute of Management Accountants (IMA^®) and meets the academic requirements to sit for the Certified Management Accountant (CMA^®) exam. Additional requirements, such as work experience in a management accounting role, may be required to sit for the CMA^® exam. Please consult the IMA^® for any further details.
²Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, How to Become an Accountant or Auditor (accessed August 2024), https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm#tab-4
³CPA Exam Candidate Guide, NASBA (accessed August, 2024), https://nasba.org/wp-content/uploads/2023/08/CPA-Exam-Candidate-Guide_08022023.pdf