Advice for a Successful Career in the Accounting Profession

Forward-Looking Guidance to Help Accountants Thrive Amid Industry Disruption and Opportunity If you’re serious about leveraging your accounting degree for a resilient, and highly rewarding career, Advice for a Successful Career in the Accounting Profession is the modern playbook you need. Today’s accounting profession is facing unprecedented change—from a growing talent shortage to rapid advances in artificial intelligence and increasing private equity influence. This new edition responds directly to those shifts, delivering fresh insight, updated strategies, and practical guidance with five brand-new chapters tailored to the realities you’re entering right now.  Drawing on decades of experience as a CPA and as former Office Managing Partner of KPMG’s Philadelphia office, Jerry Maginnis brings an unmatched real-world perspective to this expanded edition. Maginnis continues to mentor hundreds of aspiring professionals navigating an increasingly complex career environment. Helping you intentionally build assets—skills, experience, relationships, and judgment—so they greatly exceed your liabilities, Advice for a Successful Career in the Accounting Profession:  Examines the impact of AI on audit, tax, and advisory roles—and how to stay relevant Provides practical strategies for standing out in large firms and smaller organizations alike Offers mindset and leadership principles for long-term growth, fulfillment, and influence Highlights emerging opportunities, risks, and required skills for the next decade Analyzes private equity investment and consolidation in the profession and the impacts on career mobility Written in friendly, conversational language, Advice for a Successful Career in the Accounting Profession: How to Make Your Assets Greatly Exceed Your Liabilities, Second Edition, delivers relevant, actionable advice for accounting students and early- to mid-career professionals looking to adapt, grow, and stay ahead.

Foreword by Mike Aiello, Founder and CEO of Centri Consulting xi Introduction by Ernie Almonte, Former Chair, American Institute of Certified Public Accountants xiii Why I Wrote This Book (And How to Get the Most Out of It) xv The Circles of Professional Excellence (Illustration) xix Section One: Navigating Your Route to a Rewarding Accounting Career Chapter 1: Why Accounting Is a Great Profession 3 Chapter 2: The Evolving Marketplace for Entry-Level Accounting Talent 11 Chapter 3: Is Becoming a CPA the Right Path for You? 23 Chapter 4: How Accounting Majors Can Optimize Their College and University Experience 35 Chapter 5: Career Paths 49 Chapter 6: What About Work-Life Balance? 61 Section Two: Growing in Your Early Career Years by Mastering Important Fundamentals Chapter 7: Core Values Every Accountant Should Embrace 73 Chapter 8: Professional Development, Learning, and Finding Your Path 81 Chapter 9: Working Effectively with Others 91 Chapter 10: Remote Versus In-Person Work: Considerations and Some Best Practices 97 Chapter 11: Developing Your Communication Skills 107 Chapter 12: Blocking and Tackling: The Importance of Being Organized and Nailing Both Big and Small Tasks 115 Chapter 13: Have a Value-Creation Mindset 12 Chapter 14: Embrace Change—Technology Is Your Friend 127 Chapter 15: The Potential Impact of Artificial Intelligence on the Accounting Profession and How It Might Influence Your Career 133 Chapter 16: Relationships, Relationships, Relationships 149 Chapter 17: Character Traits That Can Help You Succeed 157 Section Three: Building on Your Success as Your Career Advances Chapter 18: How to Avoid Burnout 167 Chapter 19: The Impact of Private Equity: Considerations for Students and Early-Career Professionals 173 Chapter 20: Career Transitions: How to Make Good Decisions 187 Chapter 21: Lessons Learned from the History of the Profession 195 Chapter 22: The Importance of Giving Back 207 Acknowledgments 213 About the Author 217 Index 221