Nov. 13, 2024 When you think of accounting, what comes to mind? Maybe you picture someone sitting in front of a computer all day, shackled to a tedious and repetitive cycle of debits and credits. If that’s your mental picture…think again!  "Business runs on money. You have to know where it’s coming from and where it’s going. So accounting is an absolute essential,” said Felix Pereiro, head of the Business department at Grand Rapids Community College. “But here’s the exciting news. Technology advances, including artificial intelligence, have automated many of the tedious tasks. That means a smart, savvy person can get into the meat of the profession a whole lot faster.”  What does that include? According to Pereiro, the possibilities are almost endless.  “There’s a huge shortage of skilled people at accounting firms. Approximately 75% of our accountants are aging out. We have 340,000 fewer accountants now than we did in 2019. We’re also desperately short of certified public accountants (CPAs),” Pereiro said. “There’s been a 33% drop in the number of first-time test takers for the CPA exam. The top four regional accounting firms, as well as the top four national accounting firms, are coming to GRCC to recruit paid interns who will hopefully become future employees. They are aggressively seeking people for this profession.”  But that’s just the tip of the iceberg.  “Once you have accounting skills, the world opens up. Successful businesses of all sizes need savvy money strategists,” Pereiro said. “An entrepreneur has only a few minutes to make a compelling pitch. That includes how the business will raise cash, fund operations and make money. A publicly-traded firm must be able to demonstrate accurate valuation and know how to impact shareholder value. Any business needs to know its cash position and how to access capital sources for growth and profit. An accounting degree can lead to a fast-paced career in finance, business management, and a whole lot more.” Accounting is also a field that offers significant flexibility and travel options, with plenty of job security.  “You can work for a top accounting firm and travel the world doing  audits or international consulting. That could include intercompany price modeling, international tax matters for corporations, expatriate tax returns and more,” Pereiro said. “Remote work is the new normal. Therefore, you could choose to work from home, leveraging new technologies. In that role, you could do the books for one or more companies, or become a tax specialist. You could move anywhere in the United States and find work, because accounting is the cornerstone of business and there’s a shortage of skilled people.” For Pereiro, GRCC offers a unique value proposition in this high-demand field.  “We provide a cutting edge, affordable education. And education is the vehicle to escape poverty. I know, because I lived it,” Pereiro said. “Now my passion is to help students grab this opportunity with both hands and go as far as their dreams will take them.”  Learn more about the accounting program at GRCC.  This story was reported by Julie Hordyk.