Factors influencing CPAs career decision-making process: A test of Krumboltz's social learning framework

The purpose of this study was to examine significant internal and external factors and coping strategies that influenced CPAs' decisions to enter the accounting profession and then to specialize in Personal Financial Planning (PFP) in order to develop effective career counseling and self-development programs for students and adults. The theoretical focus of this study was to test Krumboltz's (1979) Social Learning Framework and related research that identified external and internal factors that affected life-long career preferences.;According to Krumboltz, workers need to be aware of and monitor controllable internal and uncontrollable external factors that are related to their careers. Workers must be able to filter and accommodate learning experiences with a focus on future professional and personal self-development as well as diversification into related alternative career paths. In addition, workers should use rational coping strategies during mid/late-career decision making stage.;The research population of the study consisted of approximately 1200 members of the American Institute of CPAs' (AICPA) PFP Division who possessed a valid PFP designation. CPA respondents (62%) completed a questionnaire used to measure the impact of internal and external career factors as well as the identification of related coping strategies that had influenced their identified career decisions.;The results showed that both internal and external factors had a substantial influence in CPAs' decisions to first enter the accounting profession and then to specialize in PFP, which substantiates the major premise of Krumboltz's social learning framework. The results also showed that there was a significant difference of the influence between both sets of factors on CPAs' identified career decisions. The most significant career change coping strategies identified by CPA respondents stressed: (1) develop networking, mentoring, and support systems; (2) diversify work experiences; (3) diversify educational experiences that lead to specialty designations as well as self-development in the areas of communication, computer, marketing, entrepreneurial skills; (4) develop a positive, flexible and open-minded attitude to career opportunities, work, life, self, family and God; and (5) actively participate in a hobby.;The dominating force that influenced CPAs' identified career decisions was the internal, individual set of factors. CPA respondents seemed to be pursuing Maslow's highest hierarchial need of self-actualization since the entire set of individual sub-factors containing strong needs of autonomy, independence, challenge, creativity, control, and self-respect clearly dominated all of the other internal and external factors in terms of significant effect on the CPAs' identified career decisions.;The findings of this study gave support to Krumboltz's Social Learning Framework as the focus of career and self-development programs in order to prepare people for future alternative career paths.