Outside of shafercpa.com, Reddit is my one of my favorite websites. Besides the cat photos, weird stories, AMAs and breaking news, someone will occasionally ask a question that makes me think. Over a year ago, Redditor /u/ CruJonez asked Reddit users, “What are we unknowingly living in the golden age of?

  • The Internet (“It’s never going to be the same and our generation is going to be to blame”)
  • Antibiotics
  • Cheap Helium
  • Yoga Pants
  • Board Games
  • Craft Beer
  • Crowdsourcing
  • Matthew McConaughey
  • Driving (all cars will one day be driverless)
  • Superhero movie reboots
  • Animals that haven’t been extinct yet.
  • Moon Pies (with the obligatory Simpson’s reference)

All fine and good (although not sure about Matt McConaughey), but I’m wondering if we are living in the golden age of the accounting profession? With all due respect to MJR Gaffikin (who argued that the 1960s were a golden age of accounting methodology), I believe we are living in a pretty remarkable age for the profession. Consider:

  • Salaries, even right out of school, are great and jobs are plentiful.
  • The FASB has passed, or will be passing, groundbreaking standards that impact almost all companies: (Leases and Revenue Recognition)
  • More importantly, the above standards are joint projects of both the FASB and IASB. Convergence has been a goal since WWII, so this is a big deal.
  • Even though we are several years removed from the Enron, WorldCom, etc scandals of the early 2000’s, changes resulting from those scandals (SOX, for example) have reverberated in public-company accounting departments (as well as CPA firms). This has made our jobs interesting, if nothing else.
  • The FBI hires CPAs (and yes, you will be issued a firearm).

There are other reasons, so let me know what I missed. I also know that there are other sub-specialties (tax, technology, etc) that may also be experiencing a golden age of sorts, so I would love to hear from anyone in those fields on why this is a great time to be a CPA. Of course, the profession isn’t for everyone (the author of “Hate Public Accounting! Why do people do this?!?” doesn’t think this is such a golden age), so I’d love to hear from any of you who don’t agree that this is such a good time to be a CPA.

Agree or disagree? Comment below or shoot me a tweet @shafercpa