Accountants and Auditors Trainings
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Jun 13, 2008, 4:37:22 PM6/13/08
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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.
Previous experience in accounting or auditing can help an applicant
get a job. Many colleges offer students an opportunity to gain
experience through summer or part-time internship programs conducted
by public accounting or business firms. In addition, practical
knowledge of computers and their applications in accounting and
internal auditing is a great asset for jobseekers in the accounting
field.
Professional recognition through certification or licensure provides a
distinct advantage in the job market. CPAs are licensed by a State
Board of Accountancy. The vast majority of States require CPA
candidates to be college graduates, but a few States substitute a
number of years of public accounting experience for a college degree.
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.
Previous experience in accounting or auditing can help an applicant
get a job. Many colleges offer students an opportunity to gain
experience through summer or part-time internship programs conducted
by public accounting or business firms. In addition, practical
knowledge of computers and their applications in accounting and
internal auditing is a great asset for jobseekers in the accounting
field.
Professional recognition through certification or licensure provides a
distinct advantage in the job market. CPAs are licensed by a State
Board of Accountancy. The vast majority of States require CPA
candidates to be college graduates, but a few States substitute a
number of years of public accounting experience for a college degree.
As of early 2005, on the basis of recommendations made by the American
Institute of Certified Public Accountants (AICPA), 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. Another five States have adopted similar
legislation that will become effective between 2006 and 2009.
Colorado, Delaware, New Hampshire, and Vermont are the only States
that do not require 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, so
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
AICPA. The 2-day CPA examination is rigorous, and only about one-
quarter of those who take it each year pass every part they attempt.
Candidates are not required to pass all four parts at once, but most
States require candidates to pass at least two parts for partial
credit and to complete all four sections within a certain period. The
CPA exam is now computerized and is offered quarterly at various
testing centers throughout the United States. Most States also require
applicants for a CPA certificate to have some accounting experience.
The AICPA also offers members with valid CPA certificates 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
may claim a certain level of expertise in the nontraditional areas in
which accountants are practicing ever more frequently. The ABV
designation requires a written exam, as well as the completion of a
minimum of 10 business valuation projects that demonstrate a
candidate's experience and competence. The CITP requires payment of a
fee, a written statement of intent, and the achievement of a set
number of points awarded for business experience and education. Those
who do not meet the required number of points may substitute a written
exam. Candidates for the PFS designation also must achieve a certain
level of points, based on experience and education, and must pass a
written exam and submit references.
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.
Accountants and auditors also can seek to obtain other forms of
credentials from professional societies on a voluntary basis.
Voluntary certification can attest to professional competence in a
specialized field of accounting and auditing. It also can certify that
a recognized level of professional competence has been achieved by
accountants and auditors who have acquired some skills on the job,
without the formal education or public accounting work experience
needed to meet the rigorous standards required to take the CPA
examination.
The Institute of Management Accountants (IMA) 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, who must have worked at
least 2 years in management accounting, also must pass a four-part
examination, agree to meet continuing education requirements, and
comply with standards of professional conduct. The CMA exam provides
an in-depth measure of competence in areas such as financial statement
analysis, working-capital policy, capital structure, valuation issues,
and risk management. The CMA program is administered by the Institute
of Certified Management Accountants, an affiliate of the IMA.
Graduates from accredited colleges and universities who have worked
for 2 years as internal auditors and have passed a four-part
examination may earn the Certified Internal Auditor (CIA) designation
from the Institute of Internal Auditors (IIA). The IIA recently
implemented three new specialty designations: Certification in Control
Self-Assessment (CCSA), Certified Government Auditing Professional
(CGAP), and Certified Financial Services Auditor (CFSA). Requirements
are similar to those of the CIA. 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. Auditing or data-
processing experience and a college education may be substituted for
up to 2 years of work experience in this program. Accountants and
auditors may hold multiple designations. For instance, an internal
auditor might be a CPA, CIA, and CISA.
The Accreditation Council for Accountancy and Taxation, a satellite
organization of the National Society of Public 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 ATA, ATP, and ECS must complete the required
coursework and pass an exam. Often, a practitioner will hold multiple
licenses and designations.
The Association of Government Accountants grants the Certified
Government Financial Manager (CGFM) designation for accountants,
auditors, and other government financial personnel at the Federal,
State, and local levels. Candidates must have a minimum of a
bachelor's degree, 24 hours of study in financial management, and 2
years' experience in government and must pass a series of three exams.
The exams cover topics in governmental environment; governmental
accounting, financial reporting, and budgeting; and financial
management and control.
Persons planning a career in accounting 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, as well
as with business systems and computers. At a minimum, accountants
should be familiar with basic accounting software packages. Because
financial decisions are made on the basis of their statements and
services, accountants and auditors should have high standards of
integrity.
Capable accountants and auditors may advance rapidly; those having
inadequate academic preparation may be assigned routine jobs and find
promotion difficult. Many 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
positions with more responsibilities by demonstrating their accounting
skills on the job.
Beginning public accountants usually start by assisting with work for
several clients. They may 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. Many
senior corporation executives have a background in accounting,
internal auditing, or finance.
In general, public accountants, management accountants, and internal
auditors 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.
Source:
Bureau of Labor Statistics, U.S. Department of Labor, Occupational
Outlook Handbook, 2006-07 Edition, Accountants and Auditors, on the
internet at http://www.bls.gov/oco/ocos001.htm (visited November 15,
2006).
For more information, visit: http://www.benefito.com/accountant-advancement.php
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.
Previous experience in accounting or auditing can help an applicant
get a job. Many colleges offer students an opportunity to gain
experience through summer or part-time internship programs conducted
by public accounting or business firms. In addition, practical
knowledge of computers and their applications in accounting and
internal auditing is a great asset for jobseekers in the accounting
field.
Professional recognition through certification or licensure provides a
distinct advantage in the job market. CPAs are licensed by a State
Board of Accountancy. The vast majority of States require CPA
candidates to be college graduates, but a few States substitute a
number of years of public accounting experience for a college degree.
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.
Previous experience in accounting or auditing can help an applicant
get a job. Many colleges offer students an opportunity to gain
experience through summer or part-time internship programs conducted
by public accounting or business firms. In addition, practical
knowledge of computers and their applications in accounting and
internal auditing is a great asset for jobseekers in the accounting
field.
Professional recognition through certification or licensure provides a
distinct advantage in the job market. CPAs are licensed by a State
Board of Accountancy. The vast majority of States require CPA
candidates to be college graduates, but a few States substitute a
number of years of public accounting experience for a college degree.
As of early 2005, on the basis of recommendations made by the American
Institute of Certified Public Accountants (AICPA), 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. Another five States have adopted similar
legislation that will become effective between 2006 and 2009.
Colorado, Delaware, New Hampshire, and Vermont are the only States
that do not require 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, so
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
AICPA. The 2-day CPA examination is rigorous, and only about one-
quarter of those who take it each year pass every part they attempt.
Candidates are not required to pass all four parts at once, but most
States require candidates to pass at least two parts for partial
credit and to complete all four sections within a certain period. The
CPA exam is now computerized and is offered quarterly at various
testing centers throughout the United States. Most States also require
applicants for a CPA certificate to have some accounting experience.
The AICPA also offers members with valid CPA certificates 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
may claim a certain level of expertise in the nontraditional areas in
which accountants are practicing ever more frequently. The ABV
designation requires a written exam, as well as the completion of a
minimum of 10 business valuation projects that demonstrate a
candidate's experience and competence. The CITP requires payment of a
fee, a written statement of intent, and the achievement of a set
number of points awarded for business experience and education. Those
who do not meet the required number of points may substitute a written
exam. Candidates for the PFS designation also must achieve a certain
level of points, based on experience and education, and must pass a
written exam and submit references.
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.
Accountants and auditors also can seek to obtain other forms of
credentials from professional societies on a voluntary basis.
Voluntary certification can attest to professional competence in a
specialized field of accounting and auditing. It also can certify that
a recognized level of professional competence has been achieved by
accountants and auditors who have acquired some skills on the job,
without the formal education or public accounting work experience
needed to meet the rigorous standards required to take the CPA
examination.
The Institute of Management Accountants (IMA) 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, who must have worked at
least 2 years in management accounting, also must pass a four-part
examination, agree to meet continuing education requirements, and
comply with standards of professional conduct. The CMA exam provides
an in-depth measure of competence in areas such as financial statement
analysis, working-capital policy, capital structure, valuation issues,
and risk management. The CMA program is administered by the Institute
of Certified Management Accountants, an affiliate of the IMA.
Graduates from accredited colleges and universities who have worked
for 2 years as internal auditors and have passed a four-part
examination may earn the Certified Internal Auditor (CIA) designation
from the Institute of Internal Auditors (IIA). The IIA recently
implemented three new specialty designations: Certification in Control
Self-Assessment (CCSA), Certified Government Auditing Professional
(CGAP), and Certified Financial Services Auditor (CFSA). Requirements
are similar to those of the CIA. 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. Auditing or data-
processing experience and a college education may be substituted for
up to 2 years of work experience in this program. Accountants and
auditors may hold multiple designations. For instance, an internal
auditor might be a CPA, CIA, and CISA.
The Accreditation Council for Accountancy and Taxation, a satellite
organization of the National Society of Public 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 ATA, ATP, and ECS must complete the required
coursework and pass an exam. Often, a practitioner will hold multiple
licenses and designations.
The Association of Government Accountants grants the Certified
Government Financial Manager (CGFM) designation for accountants,
auditors, and other government financial personnel at the Federal,
State, and local levels. Candidates must have a minimum of a
bachelor's degree, 24 hours of study in financial management, and 2
years' experience in government and must pass a series of three exams.
The exams cover topics in governmental environment; governmental
accounting, financial reporting, and budgeting; and financial
management and control.
Persons planning a career in accounting 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, as well
as with business systems and computers. At a minimum, accountants
should be familiar with basic accounting software packages. Because
financial decisions are made on the basis of their statements and
services, accountants and auditors should have high standards of
integrity.
Capable accountants and auditors may advance rapidly; those having
inadequate academic preparation may be assigned routine jobs and find
promotion difficult. Many 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
positions with more responsibilities by demonstrating their accounting
skills on the job.
Beginning public accountants usually start by assisting with work for
several clients. They may 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. Many
senior corporation executives have a background in accounting,
internal auditing, or finance.
In general, public accountants, management accountants, and internal
auditors 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.
Source:
Bureau of Labor Statistics, U.S. Department of Labor, Occupational
Outlook Handbook, 2006-07 Edition, Accountants and Auditors, on the
internet at http://www.bls.gov/oco/ocos001.htm (visited November 15,
2006).
For more information, visit: http://www.benefito.com/accountant-advancement.php
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