Wanted: Words of encouragement
Chair's Message
Boz Bostrom | April/May 2024 Footnote
Editor's note: Updated April 1, 2024
The AICPA’s 2023 Trends Report shows that, on a national level, the number of unique CPA candidates fell by more than 34% from 2016 to 2022.
What is particularly troubling is the number of high school graduates slightly increased over that same period. In 2025, according to a report from the Western Interstate Commission for Higher Education, the number of high school graduates is expected to peak at about 3.9 million nationally, and then decrease by about 10% by the year 2037. In other words: The news isn’t good, and it’s expected to get worse. Ouch.
With this knowledge in hand, we have the opportunity to act. We can tackle tough subjects like compensation, the profession’s image, work hours and broadening the pathways to licensure.
Those of you who follow me on LinkedIn or have heard me speak know I’m a college professor. I’m doing all I can to generate excitement for our profession and encourage students to consider majoring in accounting. Many other college professors are doing this, too. But, if students don’t take our introductory accounting courses, it is going to be tough for us to reach them. That is where you come in.
Imagine if each one of Minnesota’s 15,000 CPAs encouraged one or more high school students to give accounting a shot. I believe we’d have many more students considering our profession.
Tell younger students that if they enjoy working with numbers to solve problems, they just might like accounting. It is central to making complex business decisions and is one of the best places a person can start — or spend — their career. Explain to students that majoring in accounting will help them find a stable and well-paying job, and that they will gain confidence and business acumen. Share that they will develop skills that translate well to other fields — skills like communication, problem solving, work ethic and teamwork.
A collective effort will make a difference
In Minnesota, we can’t control all the issues facing our profession, and we can’t control what happens in other states or on a national level. But we can control one thing: We can speak with passion about the value of a career in accounting.
I call on you to encourage younger students to give accounting a shot. I call on high school teachers to get those students interested in accounting. I call on college professors to keep those students interested in accounting and to get even more students interested in accounting. I call on employers, particularly CPA firms where many begin their careers, to create a positive culture and work experience.
In my time on the MNCPA board, I’ve enjoyed a behind-the-scenes look at the great work of the MNCPA staff and admired the agile leadership of past chairs Rachel Polson, Ben Ellingson, Katie Gabriel, Charles Esler and Bob Cedergren.
Please join me in creating excitement around our profession and in making accounting a destination profession in Minnesota!
Sincerely,
Boz Bostrom, CPA
Chair, MNCPA board of directors
boardchair@mncpa.org
