The U.S. faces a shortage of 340,000 accountants!
- Hiroshi Rubi
- May 8
- 1 min read
The U.S. faces a shortage of 340,000 accountants, leading to increased financial reporting errors and pressure on existing staff. Fewer students are entering the field due to the high cost of meeting CPA requirements and relatively low starting salaries. Gen Z is opting for higher-paying jobs in tech and finance, despite accounting’s stability. Efforts like paid internships for credit and emphasizing social impact are helping, but not enough. Experts suggest raising wages and reconsidering the 150-hour CPA rule to attract more talent, warning that without reform, the profession will continue to struggle to meet growing demand.
At Beyond Numbers, we recognize the growing difficulty for small and mid-sized enterprises (SMEs) to build and retain an internal finance or accounting team—especially as they struggle to match the salaries, development opportunities, and career paths offered by larger organizations. The sourcing and retention of CPAs is already a major challenge and will continue to impact the continuity and reliability of finance operations for many SMEs. Moreover, today’s fast-paced and ever-changing business environment demands scalable financial resources, which can be difficult to achieve with in-house teams alone. That’s why Beyond Numbers offers a unique solution: a flexible combination of fractional CFO services and outsourced accounting, along with back-office support. Our approach empowers SMEs to focus on growth and strategy while we take care of the rest.
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