High School
Does high school matter for aspiring VC accountants and auditors? The answer is a resounding yes. High school classes help you to grow intellectually and as a person, and excelling in your courses will help you to earn a high GPA, which will get you into a top college. And since venture capital partners prefer to hire applicants who attended top colleges, you can now see why your high school education is important.
In addition to obvious classes such as accounting, statistics, economics, and mathematics, you should also take English and speech courses because, in addition to being able to crunch numbers, you’ll also need to write reports and discuss financial issues with limited partners, your department manager, and partners in the firm. Other important classes include government, social studies, and science.
Postsecondary Education
A minimum of a bachelor’s degree in accounting, economics, finance, or business administration is required to work as an accountant or auditor in the venture capital industry. U.S. News & World Report provides a list of the best undergraduate accounting programs in the United States at https://www.usnews.com/best-colleges/rankings/business-accounting. Some partners prefer candidates who have a master’s degree in accounting, economics, business administration, or finance.
AACSB International accredits colleges and universities that offer undergraduate and graduate degrees in accounting and business. Visit http://www.aacsb.edu/accreditation/accreditedmembers.asp for a list of accredited programs.
Other Education or Training
Many accountants and auditors participate in continuing education (CE) classes, workshops, and webinars to improve their job skills, to stay up to date with industry trends, and, if they’re certified, to satisfy CE requirements for recertification. Many professional associations provide these opportunities. For example, the Institute of Internal Auditors offers seminars and e-learning opportunities on audit report writing, finance and compliance fraud, operational/performance auditing, risk issues, technology, and personal development (communication, strategic thinking, and problem-solving). Other opportunities are provided by the American Institute of Certified Public Accountants, CFA Institute, Chartered Institute of Management Accountants, Institute of Management Accountants, and the National Venture Capital Association.
Many top public accounting firms provide classroom-based and online learning. For example, PricewaterhouseCoopers offers self-study classes such as Venture Capital Funds, Overview of Investment Companies: Fund Accounting Concepts, and Taxation for Regulated Investment Companies.
Certification
The American Institute of Certified Public Accountants offers a certificate in International Financial Reporting Standards to those who complete the program of online, self-study training courses. Topics include financial statements, interim reporting, and cash flows; investments in associates and joint ventures; and fair value measurement. Certificates programs are also offered by the Chartered Institute of Management Accountants (business accounting) and the Association of Chartered Certified Accountants (international auditing and international financial reporting).