The daily life of a CPA revolves around examining financial records, preparing tax returns, and advising clients, typically involving a mix of intense data analysis, software use (Excel, ERP systems), and meetings. While daily routines are structured, they are often fast-paced, particularly during high-stress, long-hour "busy seasons" for audit or tax work.
Certified Public Accountants examine, analyze, and interpret accounting records to prepare financial statements, give advice, or audit and evaluate statements prepared by others. Install or advise on systems of recording costs or other financial and budgetary data.
A CPA's average day may be predictable and based on the monthly accounting cycle, depending on the workplace, or it may be packed with auditing tasks every day. The majority of a CPA's work is dependent on the specific office and role. For instance, the duties could include consulting, tax, and management services.
According to Laura, back in 2021, 40-50 hours a week was a standard work schedule for an accountant. Some accountants work up to 70 hours per week and a couple of times in a busy year-end, Saturdays are also considered work days.
Many accountants might prepare monthly bank reconciliations, manage cash, or assist with budget planning. During busy seasons, such as tax season, roles shift to focus on “preparing and filing returns, tackling complex tax issues, analyzing current accounting, and operational practices,” observes Dr. Machuca.
Increase in Retirement:75% of CPAs reached retirement age in 2020. The average age of a CPA in the US is 52–53 years old. Less Enrollment in Accounting Graduates: Enrollment in accounting programs has declined, with 33% fewer first-time candidates sitting for the CPA exam in 2021 than in 2016.
The accounting 150-Hour Rule traditionally requires aspiring Certified Public Accountants (CPAs) to complete 150 college credit hours (a master's degree or extra undergrad courses) for licensure, beyond the standard 120-hour bachelor's degree, plus experience and the CPA exam. Due to talent shortages, states are introducing new pathways, like Ohio's 2025 change, allowing a bachelor's degree, two years' experience, and the exam as alternatives to the extra schooling, making licensure more accessible.
Reason #1 to Become a CPA – Prestige in the Profession
The CPA credential alone will separate you from non-CPAs with well-earned knowledge and expertise. By completing years of academic training, rigorous testing, and extensive work experience, CPAs are considered the gold standard of accounting.
CPAs are quitting due to intense burnout from long hours, heavy workloads, and poor work-life balance, compounded by low salaries relative to other fields, monotonous tasks, and limited growth opportunities, with younger professionals also concerned about AI's future impact and a lack of purpose, creating a significant industry-wide talent shortage.
An entry-level or fresher CPA earns around 6 lakhs per annum in India, i.e., about 50,000 rs per month. In metro cities like Mumbai, Bangalore, Delhi, etc., the average salary can go as high as 13.8 Lakhs per annum, and can also vary from company to company.
About half of the individuals who take the CPA Exam don't pass on their first attempt. According to the AICPA, the national average pass rate is 45-55%. Cumulative pass rates reported by the AICPA for the calendar year 2021 show that FAR had the lowest pass rate at 44.54% and BEC had the highest pass rate at 61.94%.
It's never too late to become a CPA. In fact, you may find the process more manageable at this stage in life. And, most importantly, you'll still get to enjoy the many benefits of becoming a licensed CPA.
Accountants need to be proficient in basic arithmetic, algebra, and statistics to analyze financial data, prepare reports, and ensure accuracy in their work. They may also use mathematical principles to perform tasks such as budgeting, forecasting, and financial analysis.
The basics: U.S. faces CPA shortage, with 124,200 new accounting jobs per year expect to open through 2034. Wiss expands recruiting beyond accounting majors and adopts AI tools.
If you are just going by comparing the exams, the CPA exam was more difficult than the bar exam. When comparing the undergraduate accounting courses/upper level accounting courses versus law school courses, the law school was more challenging and stressful.
Financial Accounting and Reporting (FAR) is widely considered the hardest CPA subject due to its sheer volume of information, covering vast topics like consolidations, governmental accounting, and complex transactions, often requiring significant memorization and understanding of foundational concepts. While individual experiences vary, FAR consistently appears as the most challenging section for many candidates, even more so than sections with notoriously tricky questions like AUD (Auditing & Attestation) or REG (Regulation).