TSCPA Supports Designating Accounting as a STEM Profession

April 22, 2024

Accounting professionals harness math and develop technology to solve complex issues, empower communities and drive trust in financial markets. From data analytics to machine learning, CPAs increasingly use STEM skills to improve audits, assess fraud risk and automate business processes, among other services.

That’s why the Tennessee Society of CPAs endorses two bipartisan bills that will expose more students to the accounting profession. The Accounting STEM Pursuit Act of 2023 (H.R. 3541) and STEM Education in Accounting Act (S. 1705) would allow federal K-12 funding to be used for accounting education, with a focus on improving access for underrepresented students.

Preparing tomorrow’s workforce

Recognizing accounting as a STEM field will help ensure future generations of CPAs are highly skilled and prepared to meet the public's evolving needs. Ninety-nine percent of accounting firms already say STEM skills like data analysis and critical thinking are vital for new hires.

STEM designation will also help expose students from various backgrounds to the profession — and set them up for success. On average, employees in STEM fields earn nearly double what their peers in non-STEM occupations make. Plus, the number of STEM jobs is expected to grow by 10.8% by 2032, compared to 2.3% for non-STEM jobs.

As the profession works to design a resilient future, investing in STEM can strengthen the talent pipeline, encourage innovation and bolster economic opportunity. TSCPA members can help advance these efforts by asking your U.S. senator or congressional representative to cosponsor the bipartisan bills. Here’s how:

1) Visit www.congress.gov/members to find your senators’ and representatives’ contact information.
2) Check the House bill (H.R. 3541) and Senate bill (S. 1705) to see if your members of Congress have already signed on as cosponsors.
3) Use these templated letters to send an email via their congressional website.

Together, we can help introduce more students to a rewarding career in accounting and finance.