Part 2/7:
The primary reason for the aging CPA population is a marked decline in new entrants to the profession. More college students are opting for majors in finance or technology, leading to lower enrollment rates in accounting programs across the nation. The pathway to becoming a CPA is fraught with obstacles—including the much-criticized 150 credit hour requirement, which effectively adds an additional year of schooling.
This additional requirement is particularly disheartening for potential accountants since the extra credits do not necessarily need to be accounting-focused. Students can fulfill the requirement through unrelated subjects, which only complicates an already challenging process.