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Why is it necessary for accountants to assume the existence of a clearly defined accounting entity?
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What are the example of personal attribute for accounting career?
People planning a career in accounting and auditing should have an aptitude for mathematics and be able to analyze, compare, and interpret facts and figures quickly. They must be able to clearly communicate the results of their work to clients and managers both verbally and in writing. Accountants and auditors must be good at working with people, business systems, and computers. At a minimum, accountants and auditors should be familiar with basic accounting and computer software packages. Because financial decisions are made on the basis of their statements and services, accountants and auditors should have high standards of integrity.
What do you have to do in order to be an accountant?
Accountants should have following skills • Interest for mathematics • Capabilities to study, evaluate, and interpret facts and figures rapidly. • Good communication skill (both verbal and written) in order to clearly communicate the results of their work to clients and managers. • Have accounting software packages know how. And so on
How is Job outlook for CPA?
{| ! width="35%" align="left" | Job Outlook | ! width="35%" |! width="30%" align="right" || Strong growth of accountants and auditor jobs over the 2006-16 decade is expected to result from stricter accounting and auditing regulations, along with an expanding economy. The best job prospects will be for accountants and auditors who have a college degree or any certification, but especially a CPA. Employment change. Employment of accountants and auditors is expected to grow by 18 percent between 2006 and 2016, which is faster than the average for all occupations. This occupation will have a very large number of new jobs arise, almost 226,000 over the projections decade. An increase in the number of businesses, changing financial laws, and corporate governance regulations, and increased accountability for protecting an organization's stakeholders will drive growth. As the economy grows, the number of business establishments will increase, requiring more accountants and auditors to set up books, prepare taxes, and provide management advice. As these businesses grow, the volume and complexity of information reviewed by accountants and auditors regarding costs, expenditures, taxes, and internal controls will expand as well. The globalization of business also has led to more demand for accounting expertise and services related to international trade and accounting rules and international mergers and acquisitions. An increased need for accountants and auditors also will arise from changes in legislation related to taxes, financial reporting standards, business investments, mergers, and other financial events. As a result of accounting scandals at several large corporations, Congress passed the Sarbanes-Oxley Act of 2002 in an effort to curb corporate accounting fraud. This legislation requires public companies to maintain well-functioning internal controls to ensure the accuracy and reliability of their financial reporting. It also holds the company's chief executive personally responsible for falsely reporting financial information. These changes are expected to lead to increased scrutiny of company finances and accounting procedures and should create opportunities for accountants and auditors, particularly CPAs, to audit financial records more thoroughly. Management accountants and internal auditors increasingly will also be needed to discover and eliminate fraud before audits, and ensure that important processes and procedures are documented accurately and thoroughly. Also, efforts to make government agencies more efficient and accountable will increase demand for government accountants. Increased focus on and numbers of financial crimes such as embezzlement, bribery, and securities fraud will increase the demand for forensic accountants to detect illegal financial activity by individuals, companies, and organized crime rings. Computer technology has made these crimes easier to commit, and they are on the rise. At the same time, the development of new computer software and electronic surveillance technology has made tracking down financial criminals easier, thus increasing the ease, and likelihood of, discovery. As success rates of investigations grow, demand for forensic accountants will increase. The changing role of accountants and auditors also will spur job growth, although this will be slower than in the past because of changes in the law. Federal legislation now prohibits accountants from providing many types of management and consulting services to clients whose books they audit. However, accountants will still be able to advise clients that are not publicly traded companies and those they do not audit. Also, the increasing popularity of tax preparation firms and computer software will shift accountants away from tax preparation. As computer programs continue to simplify some accounting-related tasks, clerical staff will increasingly handle many routine calculations. Job prospects. Overall, job opportunities for accountants and auditors should be favorable. Those who earn a CPA should have excellent job prospects. After most States instituted the 150-hour rule for CPAs, enrollment in accounting programs declined. However, enrollment is again growing as more students have become attracted to the profession by the attention from the accounting scandals. In the aftermath of the accounting scandals, professional certification is even more important to ensure that accountants' credentials and knowledge of ethics are sound. Regardless of specialty, accountants and auditors who have earned professional recognition through certification or licensure should have the best job prospects. Applicants with a master's degree in accounting or a master's degree in business administration with a concentration in accounting also will have an advantage. Individuals who are proficient in accounting and auditing computer software or have expertise in specialized areas-such as international business, specific industries, or current legislation-may have an advantage in getting some accounting and auditing jobs. In addition, employers increasingly seek applicants with strong interpersonal and communication skills. Many accountants work on teams with others who have different backgrounds, so they must be able to communicate accounting and financial information clearly and concisely. Regardless of qualifications, however, competition will remain keen for the most prestigious jobs in major accounting and business firms. In addition to openings from job growth, the need to replace accountants and auditors who retire or transfer to other occupations will produce numerous job openings in this large occupation. |}
Where can you find accountancy training courses?
With changes in financial laws and companies coming under greater financial scrutiny, the demand for trained accountants is set to grow. Even the Department of Labor has projected 22 percent increase in the employment of accountants by 2018. Clearly, the timing could not be better to enter this profession.
What is the difference between purchase and pooling accounting methods?
1. In case of Pooling Accounting new balance sheet of the combined company is created whereas in case of Purchase Accounting no new balance sheet is prepared. Thepurchasing company adds the assets of the acquired company to its balance sheetusing a fair market value.2. In case of Pooling Accounting it is basically the merging of two companies whereas incase of Purchase Accounting the acquired company is known as investment.3. In case of Pooling Accounting 'who is buying whom' is not clearly stated whereas incase of Purchase Accounting 'who is buying whom' is clearly stated.4. In case of Pooling Accounting it didnot record the price the acquiring company has topay for the acquisition whereas in case of Purchase Accounting it is valued using thefair market value.Answer by,Mr. Shabbir Alam
Was it necessary for TARP?
No. History clearly proves TARP to been a waste of billions of our dollars.
What type of degree do you need to become an accountant?
Most accounting jobs do require a four-year bachelor's degree in accounting. Some employers might also require a CPA, a master's degree in accounting, or an MBA with a concentration in accounting. However, there are more basic accounting and bookkeeping jobs that you could get with a two-year degree or just a small amount of professional training.
Which degree is better Accounting or Business Administration?
The answer to this question depends on the career goals of an individual. Clearly if the intent of a student is to join an accounting firm and become a partner, the degree in accounting is the best start. On the other hand, if a student wishes to have a career in a company, the Business Administration degree will help more than the accounting degree. With that said, each of these degrees are a good beginning to a career in both the private and public sectors.
How accounting profession could fit into globalization effort in the 21st century?
Globalization can simply be defined as the existence of a situation where there is an easy access to any part of the world. This could be in terms of information on any subject matter. With each passing day the business world gets a little smaller as a result of globalization. Each day, it becomes harder for the accountant to remain insulated from what goes on outside of their countries' borders. The accountant as a professional is faced with this situation businesses expand sometimes beyond country borders in response to globalization. Patricia J. Arnold ( School of Business Administration, University of Wisconsin-Milwaukee) in her article entitled "Corporate-led Globalization: Restructuring the Market for Accounting Services" identified two models of globalization: I. Market-led globalization: This theoretical model asserts the primacy of market forces in the process globalization. The market-led model technological advances such as digital technologies, have given rise to global markets. Global markets, in turn, create the need for transparency and accountability. Auditing and accounting supposedly to serve this need by mitigating the agency problem caused by information asymmetries in the capital markets. The accounting profession plays a reactive role within the model. For markets to function properly, the accounting profession must adapt and modernize in response to the globalization of finance and investment. This theoretical model has been used to argue in support of adaptive responses ranging from global professional credentialing to the adoption of International Accounting Standards (IAS). The market-led model views resistance to change on the part of state regulators and professional associations as outmoded rigidities that must eventually give way to impersonal forces of globalization and the imperatives of market efficiency. Although widely accepted, this market-led view of globalization is based on assumptions that fail to recognise the active role that institutional actors namely corporations, industries, nation states, and international institutions like the International Monetary Fund (IMF), World Bank, and World Trade Organization (WTO) have played in the creation of global markets. II. In contrast to the market-led model of globalization, the corporate-led model recognizes the agency of nation states, corporate interests, and international institutions in the creation of global markets. Whereas the market-led model begins with global markets and ends with state and industry adaptation, the corporate-led model begins with institutional agency and culminates in the creation of global markets. The corporate-led model not only provides non-functionalist explanation of how global financial and investment markets were created; it can also explain the accounting profession's role in the globalization process. The corporate-led model posits that the accounting profession does not merely adapt to forces of globalization. To the contrary, the accounting industry, in reliance with the state and international institutions, has played and continues to play an active role in the structuring global markets for accounting services. The globalization of the 21st century even though has a lot of benefits, poses some threats to accountants and the accounting profession as a whole. There are three groups of accountants who are prone to these threats. These groups are: * Accountants working for (or providing outside services to) foreign-owned companies. * Accountants working for (or providing outside services to) locally-based enterprises that are expanding internationally. * Accountants whose knowledge, skills, and abilities limit them to performing only low-value, compliance-oriented work. There also two groups of accounting professionals that are most likely to benefit from increased globalization. These are: * Accountants who expand their financial accounting knowledge, skills, and abilities so as to gain mastery of changing local and International Accounting Standards (IAS). * Accountants who complement their compliance-oriented knowledge, skills, and abilities with the performance oriented knowledge, skills, and abilities of management accounting. Bruce Pounder, CMA, CFM, in his article; "How Globalization is Affecting U.S Accountants", said efforts are being made to mitigate the above threats of globalization in recent years. He made reference to the fact that, compliance with the International Financial Reporting Standard (IFRS) promulgated by the International Accounting Standard Board (IASB) is now required of publicly-traded companies in most countries. In addition to the efforts to fit the accounting profession in the globalization of the 21st century, Bruce Pounder in his article stated that, while there many similarities between the international standards and the U.S. Generally Accepted Accounting Principles (G.A.A.P.), significant differences do exit and today, U.S standards are not automatically presumed to be 'better'. This situation has affected the process by which both U.S and international standards are developed and maintained and has already resulted in changes in both U.S and international standards. According to the IASB chairman Sir David Tweedie, "IFRS are now used by 100 countries throughout the world. By 2012 we expect the accounting standards of major economies such as those of Japan, Canada, China, and India to converge with IFRS while at the same time differences between international standards and the U.S G.A.A.P are being eliminated." As part of the efforts to make the accounting profession run parallel with the globalization of the 21st century, the Financial Accounting Standard Board (FASB) in the U.S and the International Accounting Standard Board (IASB) jointly issued a memorandum of understanding known as the "Norwalk Agreement" in October 2002 to mark a significant step toward formalizing their commitment to the convergence of U.S and International Accounting Standards. As result of this the FASB undertook several key initiatives to further the goal of convergence of U.S G.A.A.P. with IFRS. For example, the FASB pronouncement has updated rules concerning inventory cost, exchange of non-monetary assets, and accounting changes and error corrections primarily to achieve convergence with IASB standards. David Illingworth (The Vice President of the Institute of Chartered Accountants, England and Wales), in a speech entitled, "Accounting Profession and Globalization" suggested that the accounting profession can fit into the globalization of the 21st century by accepting the need for global standards in its work. This he said was the reason why the ICA (England and Wales) work through the International Federation of Accountants (IFA) to ensure that all accountants and auditors in the world subscribe to a global code of ethics. Bruce Pounder concluded that, the accounting profession can fit into the recent globalization by enhancing the knowledge, skills, and abilities, and credentials of its members. Life-long learning is not merely desirable. It is essential for career success in an increasingly globalize world. Globally-recognised credentials like the Association of Chartered Certified Accountants (ACCA), Certified Management Accountants (CMA), and Certified Internal Auditors (CIA) can make complements to localized credentials. Graham Ward (President of the IFA) states "we firmly believe that it is the public's interest to have a single set of international standards, of the highest quality, set in the public interest by an international expert body which transparently consults with, and recognises the legitimate interests of, the international community". The key assumption in the above statement is that universal acceptance of a single set of high quality standards would make the global market more efficient by enhancing consistency and comparability of financial statements. In conclusion, as businesses become increasingly globalize, there is clearly more pressure on accounting profession to expand and enhance the knowledge, skill, and abilities of its members beyond what they are currently likely to possess in order to fit well into the globalization of the 21st century. ALBERT TACHIEE-MAIL: albert.tachie@bollore.com TEL: +233 243 860 333
What qualifications are necessary to become a forensic accountant?
Most accountants and auditors need at least a bachelor's degree in business, accounting, or a related field. Many accountants and auditors choose to obtain certification to help advance their careers, such as becoming a Certified Public Accountant (CPA). Education and training. Most accountant and auditor positions require at least a bachelor's degree in accounting or a related field. Beginning accounting and auditing positions in the Federal Government, for example, usually require 4 years of college (including 24 semester hours in accounting or auditing) or an equivalent combination of education and experience. Some employers prefer applicants with a master's degree in accounting, or with a master's degree in business administration with a concentration in accounting. Some universities and colleges are now offering programs to prepare students to work in growing specialty professions such as internal auditing. Many professional associations offer continuing professional education courses, conferences, and seminars. Some graduates of junior colleges or business or correspondence schools, as well as bookkeepers and accounting clerks who meet the education and experience requirements set by their employers, can obtain junior accounting positions and advance to accountant positions by demonstrating their accounting skills on the job. Most beginning accountants and auditors may work under supervision or closely with an experienced accountant or auditor before gaining more independence and responsibility. Licensure and certification. Any accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). This may include senior level accountants working for or on behalf of public companies that are registered with the SEC. CPAs are licensed by their State Board of Accountancy. Any accountant who passes a national exam and meets the other requirements of the State where they practice can become a CPA. The vast majority of States require CPA candidates to be college graduates, but a few States will substitute a number of years of public accounting experience for a college degree. As of 2007, 42 States and the District of Columbia required CPA candidates to complete 150 semester hours of college coursework-an additional 30 hours beyond the usual 4-year bachelor's degree. Several other States have adopted similar legislation that will become effective before 2009. Colorado, Delaware, New Hampshire, and Vermont are the only States that do not have any immediate plans to require the 150 semester hours. In response to this trend, many schools have altered their curricula accordingly, with most programs offering master's degrees as part of the 150 hours. Prospective accounting majors should carefully research accounting curricula and the requirements of any States in which they hope to become licensed. All States use the four-part Uniform CPA Examination prepared by the American Institute of Certified Public Accountants (AICPA). The CPA examination is rigorous, and less than one-half of those who take it each year pass every part they attempt on the first try. Candidates are not required to pass all four parts at once, but most States require candidates to pass all four sections within 18 months of passing their first section. The CPA exam is now computerized and is offered 2 months out of every quarter at various testing centers throughout the United States. Most States also require applicants for a CPA certificate to have some accounting experience; however requirements vary by State or jurisdiction. Nearly all States require CPAs and other public accountants to complete a certain number of hours of continuing professional education before their licenses can be renewed. The professional associations representing accountants sponsor numerous courses, seminars, group study programs, and other forms of continuing education. Other qualifications. Previous experience in accounting or auditing can help an applicant get a job. Many colleges offer students the opportunity to gain experience through summer or part-time internship programs conducted by public accounting or business firms. In addition, as many business processes are now automated, practical knowledge of computers and their applications is a great asset for jobseekers in the accounting and auditing fields. People planning a career in accounting and auditing should have an aptitude for mathematics and be able to analyze, compare, and interpret facts and figures quickly. They must be able to clearly communicate the results of their work to clients and managers both verbally and in writing. Accountants and auditors must be good at working with people, business systems, and computers. At a minimum, accountants and auditors should be familiar with basic accounting and computer software packages. Because financial decisions are made on the basis of their statements and services, accountants and auditors should have high standards of integrity. Certification and advancement. Professional recognition through certification, or a designation other than the CPA, provides a distinct advantage in the job market. Certification can attest to professional competence in a specialized field of accounting and auditing. Accountants and auditors can seek credentials from a wide variety of professional societies. The Institute of Management Accountants confers the Certified Management Accountant (CMA) designation upon applicants who complete a bachelor's degree or who attain a minimum score or higher on specified graduate school entrance exams. Applicants must have worked at least 2 years in management accounting, pass a four-part examination, agree to meet continuing education requirements, and comply with standards of professional conduct. The exam covers areas such as financial statement analysis, working-capital policy, capital structure, valuation issues, and risk management. The Institute of Internal Auditors offers the Certified Internal Auditor (CIA) designation to graduates from accredited colleges and universities who have worked for 2 years as internal auditors and have passed a four-part examination. The IIA also offers the designations of Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), and Certified Financial Services Auditor (CFSA) to those who pass the exams and meet educational and experience requirements. The ISACA, formerly known as the Information Systems Audit and Control Association, confers the Certified Information Systems Auditor (CISA) designation upon candidates who pass an examination and have 5 years of experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours can be substituted for up to 2 years information systems auditing, control or security experience. The Accreditation Council for Accountancy and Taxation, a satellite organization of the National Society of Accountants, confers four designations: Accredited Business Accountant (ABA), Accredited Tax Advisor (ATA), Accredited Tax Preparer (ATP), and Elder Care Specialist (ECS)-on accountants specializing in tax preparation for small and medium-sized businesses. Candidates for the ABA must pass an exam; candidates for the other designations must complete the required coursework and in some cases pass an exam. The Association of Certified Fraud Examiners offers the Certified Fraud Examiner (CFE) designation for forensic or public accountants involved in fraud prevention, detection, deterrence, and investigation. To obtain the designation, individuals must have a bachelor's degree, 2 years of relevant experience, pass a four-part examination, and abide by a code of professional ethics. Related work experience may be substituted for the educational requirement. The Association of Government Accountants grants the Certified Government Financial Manager (CGFM) designation for accountants, auditors, and other government financial workers at the Federal, State, and local levels. Candidates must have a minimum of a bachelor's degree, 24 hours of study in financial management, 2 years of experience in government, and passing scores on a series of three exams. The exams cover topics in governmental environment; governmental accounting, financial reporting, and budgeting; and financial management and control. For those accountants with their CPA, the AICPA offers the option to receive any or all of the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) designations. CPA's with these designations demonstrate a level of expertise in these areas in which accountants practice ever more frequently. The business valuation designation requires a written exam and the completion of a minimum of 10 business valuation projects that demonstrate a candidate's experience and competence. The technology designation requires the achievement of a set number of points awarded for business technology experience and education. Candidates for the personal financial specialist designation also must achieve a certain level of points based on experience and education, pass a written exam, and submit references. Many senior corporation executives have a background in accounting, internal auditing, or finance. Beginning public accountants often advance to positions with more responsibility in 1 or 2 years and to senior positions within another few years. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms. Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents. Public accountants, management accountants, and internal auditors usually have much occupational mobility. Practitioners often shift into management accounting or internal auditing from public accounting, or between internal auditing and management accounting. It is less common for accountants and auditors to move from either management accounting or internal auditing into public accounting. Additionally, because they learn about and review the internal controls of various business units within a company, internal auditors often gain the experience needed to become upper-level managers. For the source and more detailed information concerning your request, click on the related links section (U.S. Department of Labor) indicated below.
What courses should you take if you want to study accounting?
A bookkeeper may not need any formal education. Most accountant have at least an associate's degree, and many have a bachelor's degree in accounting. (To be a CPA you also need to take a test and be licensed by the state. See the link for "How to become a CPA?" to the right.)
What is the background required to be an accountant?
The following is written by and according to the U.S. Department of Labor and particular to the education and training required for an accountant.Most accountants and auditors need at least a bachelor's degree in business, accounting, or a related field. Many accountants and auditors choose to obtain certification to help advance their careers, such as becoming a Certified Public Accountant (CPA).Education and training. Most accountant and auditor positions require at least a bachelor's degree in accounting or a related field. Beginning accounting and auditing positions in the Federal Government, for example, usually require 4 years of college (including 24 semester hours in accounting or auditing) or an equivalent combination of education and experience. Some employers prefer applicants with a master's degree in accounting, or with a master's degree in business administration with a concentration in accounting. Some universities and colleges are now offering programs to prepare students to work in growing specialty professions such as internal auditing. Many professional associations offer continuing professional education courses, conferences, and seminars.Some graduates of junior colleges or business or correspondence schools, as well as bookkeepers and accounting clerks who meet the education and experience requirements set by their employers, can obtain junior accounting positions and advance to accountant positions by demonstrating their accounting skills on the job.Most beginning accountants and auditors may work under supervision or closely with an experienced accountant or auditor before gaining more independence and responsibility.Licensure and certification. Any accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). This may include senior level accountants working for or on behalf of public companies that are registered with the SEC. CPAs are licensed by their State Board of Accountancy. Any accountant who passes a national exam and meets the other requirements of the State where they practice can become a CPA. The vast majority of States require CPA candidates to be college graduates, but a few States will substitute a number of years of public accounting experience for a college degree.As of 2007, 42 States and the District of Columbia required CPA candidates to complete 150 semester hours of college coursework-an additional 30 hours beyond the usual 4-year bachelor's degree. Several other States have adopted similar legislation that will become effective before 2009. Colorado, Delaware, New Hampshire, and Vermont are the only States that do not have any immediate plans to require the 150 semester hours. In response to this trend, many schools have altered their curricula accordingly, with most programs offering master's degrees as part of the 150 hours. Prospective accounting majors should carefully research accounting curricula and the requirements of any States in which they hope to become licensed.All States use the four-part Uniform CPA Examination prepared by the American Institute of Certified Public Accountants (AICPA). The CPA examination is rigorous, and less than one-half of those who take it each year pass every part they attempt on the first try. Candidates are not required to pass all four parts at once, but most States require candidates to pass all four sections within 18 months of passing their first section. The CPA exam is now computerized and is offered 2 months out of every quarter at various testing centers throughout the United States. Most States also require applicants for a CPA certificate to have some accounting experience; however requirements vary by State or jurisdiction.Nearly all States require CPAs and other public accountants to complete a certain number of hours of continuing professional education before their licenses can be renewed. The professional associations representing accountants sponsor numerous courses, seminars, group study programs, and other forms of continuing education.Other qualifications. Previous experience in accounting or auditing can help an applicant get a job. Many colleges offer students the opportunity to gain experience through summer or part-time internship programs conducted by public accounting or business firms. In addition, as many business processes are now automated, practical knowledge of computers and their applications is a great asset for jobseekers in the accounting and auditing fields.People planning a career in accounting and auditing should have an aptitude for mathematics and be able to analyze, compare, and interpret facts and figures quickly. They must be able to clearly communicate the results of their work to clients and managers both verbally and in writing. Accountants and auditors must be good at working with people, business systems, and computers. At a minimum, accountants and auditors should be familiar with basic accounting and computer software packages. Because financial decisions are made on the basis of their statements and services, accountants and auditors should have high standards of integrity.Certification and advancement. Professional recognition through certification, or a designation other than the CPA, provides a distinct advantage in the job market. Certification can attest to professional competence in a specialized field of accounting and auditing. Accountants and auditors can seek credentials from a wide variety of professional societies.The Institute of Management Accountants confers the Certified Management Accountant (CMA) designation upon applicants who complete a bachelor's degree or who attain a minimum score or higher on specified graduate school entrance exams. Applicants must have worked at least 2 years in management accounting, pass a four-part examination, agree to meet continuing education requirements, and comply with standards of professional conduct. The exam covers areas such as financial statement analysis, working-capital policy, capital structure, valuation issues, and risk management.The Institute of Internal Auditors offers the Certified Internal Auditor (CIA) designation to graduates from accredited colleges and universities who have worked for 2 years as internal auditors and have passed a four-part examination. The IIA also offers the designations of Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), and Certified Financial Services Auditor (CFSA) to those who pass the exams and meet educational and experience requirements.The ISACA, formerly known as the Information Systems Audit and Control Association, confers the Certified Information Systems Auditor (CISA) designation upon candidates who pass an examination and have 5 years of experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours can be substituted for up to 2 years information systems auditing, control or security experience.The Accreditation Council for Accountancy and Taxation, a satellite organization of the National Society of Accountants, confers four designations: Accredited Business Accountant (ABA), Accredited Tax Advisor (ATA), Accredited Tax Preparer (ATP), and Elder Care Specialist (ECS)-on accountants specializing in tax preparation for small and medium-sized businesses. Candidates for the ABA must pass an exam; candidates for the other designations must complete the required coursework and in some cases pass an exam.The Association of Certified Fraud Examiners offers the Certified Fraud Examiner (CFE) designation for forensic or public accountants involved in fraud prevention, detection, deterrence, and investigation. To obtain the designation, individuals must have a bachelor's degree, 2 years of relevant experience, pass a four-part examination, and abide by a code of professional ethics. Related work experience may be substituted for the educational requirement.The Association of Government Accountants grants the Certified Government Financial Manager (CGFM) designation for accountants, auditors, and other government financial workers at the Federal, State, and local levels. Candidates must have a minimum of a bachelor's degree, 24 hours of study in financial management, 2 years of experience in government, and passing scores on a series of three exams. The exams cover topics in governmental environment; governmental accounting, financial reporting, and budgeting; and financial management and control.For those accountants with their CPA, the AICPA offers the option to receive any or all of the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) designations. CPA's with these designations demonstrate a level of expertise in these areas in which accountants practice ever more frequently. The business valuation designation requires a written exam and the completion of a minimum of 10 business valuation projects that demonstrate a candidate's experience and competence. The technology designation requires the achievement of a set number of points awarded for business technology experience and education. Candidates for the personal financial specialist designation also must achieve a certain level of points based on experience and education, pass a written exam, and submit references.Many senior corporation executives have a background in accounting, internal auditing, or finance. Beginning public accountants often advance to positions with more responsibility in 1 or 2 years and to senior positions within another few years. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.Public accountants, management accountants, and internal auditors usually have much occupational mobility. Practitioners often shift into management accounting or internal auditing from public accounting, or between internal auditing and management accounting. It is less common for accountants and auditors to move from either management accounting or internal auditing into public accounting. Additionally, because they learn about and review the internal controls of various business units within a company, internal auditors often gain the experience needed to become upper-level managers.For the source and more detailed information concerning your request, click on the related links section (U.S. Department of Labor) indicated directly below this answer section.
