Legislation introduced in Senate to recognize accounting as a STEM field in K-12 education

Accounting faculty realize that the profession is becoming more technologically savvy with each passing day. The AICPA knows this, too, and is working to gain recognition for accounting as a science, technology, engineering, and math (STEM) curriculum under the technology field.

The STEM Education in Accounting Act, S. 3398, would, if passed, contribute one step to this recognition. In December 2021, Sens. Susan Collins, R-Maine, and Jacky Rosen, D-Nev., introduced this bill, a companion bill to one that was introduced in the House in June 2021. The identical House bill, titled the Accounting STEM Pursuit Act of 2021, H.R. 3855,was introduced by Reps. Haley Stevens, D-Mich., and Victoria Spartz, R-Ind.

The legislation would help bolster the argument that accounting is a STEM field by allowing STEM K-12 grant funding to be used for accounting awareness and education. The legislation adds "activities to promote the development, implementation, and strengthening of programs to teach accounting" to the list of allowable uses of grant funding under the Student Support and Academic Enrichment grant program (Title IV, part A of the Elementary and Secondary Education Act) with a focus on "increasing access to high-quality accounting courses for students through grade 12 who are members of groups underrepresented in accounting careers." While this bill does not immediately translate into accounting being recognized as a STEM field at the post-secondary level, its passage would strongly reinforce the message that it should be.