The demand for qualified accountants shows no signs of abating as record numbers of graduates are entering careers in the sector.

According to the American Institute of Certified Public Accountants (AICPA), last year saw 64,221 students graduate with a bachelor's or master's degree in the discipline - the highest level since AICPA records began in 1970, the Daily Texan reported.

Employer demand for new accounting recruits also shows no signs of letting up, it added, with a recent the recent Robert Half Finance and Accounting survey showing 84% of chief financial officers say they will not be cutting back on accounting jobs this year, despite the economic slowdown.

The sustained interest in - and demand for - accountants is partly down to their essential role in nearly every type of commerce, the site said.

"Accounting is to business as math is to science," said Steve Limberg, the faculty director of an master's program in accounting.

Qualifications in accounting are also sought after because they can open the door to a number of other disciplines, such as consulting and financial advice.

Figures from the Bureau of Labor Statistics show accountants and auditors held 1.3 million jobs in the United States during 2006. By 2016, this number is forecast to have grown 18%.