Is Accounting STEM? A Debate on the Future of the Profession

Could a STEM designation help solve the accounting pipeline crisis with federal funding?

In the latest episode of Accounting ARC, hosts Liz Mason, CPA; Byron Patrick, CPA.CITP, CGMA; and Donny Shimamoto, CPA.CITP, CGMA, tackle a complex and timely question: Does accounting qualify as a STEM profession? This debate sheds light on how the accounting field aligns—or doesn’t—with the principles of science, technology, engineering, and mathematics.

Defining STEM and Accounting’s Place in It
Mason, CEO and founder of High Rock Accounting, sets the stage by describing STEM as a field grounded in rules-based applications of theory in real-world scenarios. She argues that accounting shares similarities with fields like medicine, which combines principles-based decisions with rules-based frameworks. However, Shimamoto, founder and managing director of IntrapriseTechKnowlogies LLC and founder and inspiration architect for the Center for Accounting Transformation, counters that accounting often operates on principles that evolve based on context, differing from the fixed nature of underlying scientific principles.

The Role of Technology in Accounting
A key point of discussion is accounting’s reliance on technology. Mason emphasizes that modern accountants must understand and leverage technology, likening them to “business engineers.” However, Shimamoto warns of a “slippery slope” where mere use of technology doesn’t qualify a profession as STEM, noting that much of accounting involves implementing rather than developing technology.

Federal Funding and Economic Growth
The trio also examines the potential benefits of STEM designation, particularly access to federal funding to address the talent pipeline crisis. Patrick, CEO of VERIFYiQ and vice president of client success at The B3 Method Institute®, reflects on the historical context of STEM funding, noting its origins aimed to boost U.S. global competitiveness in science and technology. Shimamoto highlights accountants’ critical role in driving economic growth, arguing that they support innovation and job creation.

The Future of Accounting Education
The panel agrees that accounting is rapidly evolving. Patrick observes that newer pathways like CPA Evolution signal a shift toward more technological and analytical competencies. Mason envisions a future where accounting education integrates more STEM-related content, including programming and automation.

What’s Next?
The podcast concludes with a call for broader discussion on this topic. Whether accounting fully qualifies as STEM or not, the profession’s future lies in embracing innovation, technology, and adaptability.

Check out the latest episode of the Accounting ARC Podcast on the Center’s YouTube channel. 

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