If you want to work in the field of accounting that focuses on the global economy, consider taking the steps to become an international accountant. The need for accounting specialists who are experts in foreign transactions is on the rise as economies become more global than ever. You can’t just wake up one morning and decide that it’s time to apply for a position in international accounting. Here’s what you must do to dive into this specialty:
Complete a Bachelor’s Degree Program
If you don’t yet possess a bachelor’s degree, the first thing you need to do is compare accredited programs majoring in accounting. How long this will take to complete depends on your current level of education. If you already possess an associate’s degree, you could finish your accounting coursework in as little as two years. The same can be said if you have a bachelor’s in an entirely different area of study.
Take the Right Electives
Your electives can make all of the difference when it comes to choosing any type of specialty. Since international accountants specialize in international standards and practices, it’s best for you to complete international accounting elective courses. Not only do you need these courses in the field, you should consider taking classes in the most popular foreign languages so that you can put bilingual on your applications.
Enter Into a Master’s Degree Program
You’re not done with your education when you walk the line for your undergraduate degree. The next step would be to enter into a Master of Science program majoring in accounting. As you’re picking your graduate degree program, make sure you look for universities that offer concentrations in international accounting. Not all universities do but it’s becoming a concentration that’s much more popular.
While you’re studying for your master’s degree, you’ll learn about the Generally Accepted Accounting Principles that are used in the US and how they compare to the IFRS that’s used all across the globe. You will also review more financial statements of multi-national and foreign companies to assess financial health and spot red flags. Expect to spend 2 to 3 years in grad school.
Complete an Internship as You Prepare to Pass Your CPA Exam
You must be a Certified Public Accountant before you can work as an International Accountant. That’s why you need to get the practical experience that you need to sit for the four-part Uniform CPA Exam before you even study. You may be able to find an internship while you’re completing your last year of grad school. After that, look for entry-level positions that will help you fulfill your test requirements.
Check your state’s requirements through the board of accountancy. It’s really important to look in the jurisdiction where you want to test, according to the American Institute of CPAs. Then, you can complete an application and pay the fees to start the process. You’ll be asked for academic documents so that you are accepted and your test date is set.
Once you hold your CPA certification, you’re qualified to work in the special and fast-paced field of International Accounting. In the global economy of the 21st century, there is a growing demand for highly trained accountants who know international standards. According to the Bureau of Labor Statistics, the field is projected to grow by 11 percent. If that entices you and you’re a good fit, study to become an international accountant.