...Tavonna Triplett Career Paper Accounting The different types of accounting careers are Public, Government, National, Management, Financial, Tax, and. Fiduciary Accounting. Public accounting is the most varied type and includes bookkeeping, account management and financial analysis for individuals, private businesses, public firms, government or NGOs, which are either based nationally are internationally. A public accounting business can have one or more accountants and both certified and non-certified accountants can provide public accounting services to their clients. Government Accounting specific to government agencies and ensures all revenues and expenditure are in accordance to law. The conventional accounting methods of double entry system in ledgers and journals are used here. Government accounting is differentiated from other types of accounting in respect of providing service that is not profit based but service based. Government accountants are employed by the federal government, either as a part of the IRS or any other budget or asset management division. National Income Accounting is mainly for the government and is responsible for providing the general public the data with reference to the gross national product about all market-related information, such as the value of the country's goods and services provided and its purchasing power. National income accounting gives an idea about the state of economy of a country and how and where money is being generated...
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... |Yes | |Eligibility to Sit |After Graduation |After Completion of Undergraduate |After Graduation | | | |Degree in Accounting | | Additional Educational Requirements Louisiana: Accounting concentration of 24 hours at the undergraduate level and 24 hours of business courses other than accounting, including a Business Law class suitable for the CPA Exam (LSU: BLAW 4203). Undergraduate Accounting Hours Required • Intermediate Accounting 6 hours (LSU: ACCT 3001 and 3021) • Cost Accounting 3 hours (LSU: ACCT 3121) • Income Tax Accounting 3 hours (LSU: ACCT 3221) • Auditing 3 hours (LSU: ACCT 3222) • 3 hours from courses listed below* 3 hours • Approved Accounting Electives** 6 hours Total 24 hours * 3 semester hours from one of the following: -Advanced Financial Accounting (LSU: ACCT 4022) -Not-for-Profit (or Government) Accounting/Auditing (LSU: ACCT 4421) -Accounting Theory (LSU: ACCT 7021) **Accounting electives must be...
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...- FP&A: Usually sits at both the corporate and divisional levels. Tasked with budgetting, target setting, forecasting, long-range planning, reporting & analysis, revenue & opex management, decision support (analysis for projects being undertaken by the company or a division), divisional support (support marketing and product teams with analysis around the impact of potential changes being made to a product, marketing offers that the marketing team is looking at, etc.) - Accounting: Usually sits at both the corporate and divisional levels. Tasked with putting together the financial statements (in accordance with GAAP, etc.) and other typical accounting type processes (journal entries, etc.). - Tax: Usually sits at the corporate level. Tasked with managing tax structure, etc. (very boring but pretty straight forward) - Investor Relations: Usually sits at the corporate level. Tasked with managing the earnings release process, talking to the press and shareholders, etc. - Corporate Development (M&A): Usually sits at the corporate level. Tasked with identifying, evaluating, and negotiating acquisitions, divestitures, joint ventures, etc. across the company. - Corporate Strategy: Usually sits at the corporate level. Tasked with developing the company's long term strategy and evaluating strategic issues across the company (effectively internal MBBconsultants) - Internal Audit: Usually sits at the corporate level. Tasked with managing enterprise risk, controls & compliance, auditing...
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...Financial accounting is one of the required courses for CPA exam. Some of you may be getting ready to take the exam or considering it as your future goals. Let's use this forum to research the educational requirements, fees, areas of examination and licensing requirements for CPA exam. A CPA is a certified public account and is licensed by the state. In California, to earn the prestige associated with the CPA license, individuals are required to demonstrate their knowledge and competence by passing the Uniform CPA Exam, meeting high educational standards and completing a specified amount of general accounting experience. Being Californian, I will be required to have a bachelor’s degree, 24 semester units in accounting related subjects, 24 semester units in business related subjects, passing the uniform CPA exam, 2 years of general accounting experience supervised by a CPA with an active license, and passing an ethics course. One of the wisest investments you can make on your path to becoming a CPA is to choose a review course that works for you. Fees depend on provider and course type; self-study courses average $1,300 and live courses average $3,000. According to dca.ca.gov, Fees to be paid to the California Board of Accountancy: Initial Application Fee- $100 (Paid by an applicant who is qualifying to sit for the CPA Exam as a California candidate for the first time.) Reapplication fee- $50 (Paid by an applicant who was previously approved to sit for the CPA Exam as...
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...Application to Sit ...……………….………………….……….…..1 Topics and Structure …………………………….……………………………………3 Rules, Testing Windows, and Sites ………….……………………………………….4 CPA EXAM PREPARATION ………………….……………………………………………4 ADDITIONAL REQUIREMENTS …………….……………………………………………5 CONCLUSION ………………………………………………………………………………5 APPENDIX A ...………………………………………………………………………….…..6 BIBLIOGRAPHY ......………………………………………………………………………..7 EXECUTIVE SUMMARY This report provides the requirements and steps to become a Certified Public Accountant (CPA) in Texas. In addition, it addresses the requirements to apply for and sit for the Texas Uniform CPA Exam, which details the topics covered and the structure of the exam. The report presents the rules, sites, and testing windows under which the exam can be taken. It also discusses the resources available in preparation for the exam. Finally, it includes the additional requirements to become a Texas CPA once a candidate passes the exam. The Texas State Boards of Accountancy determines the laws and rules for becoming a CPA in the state of Texas. The candidates who meet specific eligibility requirements will be issued certificates to practice public accountancy within the state. These requirements include the following: * Be of good moral character. * Meet the education requirements. * Pass the CPA exam. * Meet work experience requirements. * Pass an exam on the Board’s Rules of Professional Conduct. In order to sit for the CPA exam...
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...HOW TO BECOME A TEXAS CPA Prepared for Dr. Michael Newman By AMANDA LEOPOLD OCTOBER 21, 2015 CONTENTS EXECUTIVE SUMMARY…………………………………………………………………………………….……………….1 INTRODUCTION……………………………………………………………………………………………………….……….2 ELIGIBILITY REQUIREMENTS ………………………………………………………………………………….…………2 Education…………………………………………………………………………………………………………….2 Good Moral Character……………………..………………………………………………………………….3 UNIFORM CPA EXAMINATION ………………………………………………………………………………….…….3 Application & Fees…...………………………………………………………………………………………….3 Testing Windows ……..……………………..………………………………………………………………….4 Sections………………………..…………………………………………………………………………………….4 Study Prep Material.…………………………………………………………………………………………….5 OBTAINING THE CERTIFICATE …………………………………………………………………………………….…….5 CONCLUSION………………………………………………………………………………………………………………….…5 EXECUTIVE SUMMARY This report provides information about the steps required to become and maintain a Certified Public Accountant (CPA) license in the state of Texas. A CPA license in Texas is in great demand due to the fact Texas does not have a state income tax and many wealthy people move to Texas who require attention in estate planning and income tax. Under Texas law, an individual may not practice public accountancy unless they hold a certificate issued under Chapter 901 of the Public Accountancy Act. Included in this report are the following subjects: * The requirements and steps to become a Texas CPA. * Information regarding the...
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...you personally during office hours. Office Contact Details: Elite Education Institute 1 James Place, North Sydney, NSW 2060 Tel: 02 9212 2120 Unit Overview This unit introduces the major conceptual and technical aspects of auditing and assurance services. Accordingly, the unit provides critical insights into the auditor's legal and societal role, the underlying conceptual theory of auditing, professional auditing techniques, and contemporary auditing issues. The core theme of this unit is the external audit of corporations, from initial planning to final reporting in the context of a professional environment. Assumed Knowledge Prerequisite: ACC101 – Fundamentals of Accounting I, ACC102 – Fundamentals of Accounting II, and ACC204 – Advanced Financial Accounting Student learning outcome After successfully completing this unit, a student will be able to: Graduate Attribute achieved A. Explain and analyse the nature, underlying concepts and principles of auditing Disciplinary knowledge, Critical thinking B. Describe and evaluate the regulatory, professional, and societal roles and responsibilities of the auditor...
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...to the following questions about the 10K filing by reading/searching the document. a. What is the purpose? The purpose of 10K is to comprehensively summarize a company’s financial performance and help investors have a better understanding about the company’s state of operation. b. When is it filed? 1/31/2014 c. What financial statements are included in the 10K? • Report of Ernst & Young LLP, Independent Registered Public Accounting Firm • Consolidated Statements of Cash Flows • Consolidated Statements of Operations • Consolidated Statements of Comprehensive Income • Consolidated Balance Sheets • Consolidated Statements of Stockholders’ Equity d. Identify each note (e.g., Note 1), its associated title (e.g., Summary of Significant Accounting Policies) and the purpose of the note in the section titled “Notes to Consolidated Financial Statements.” [You may do this in a table format.] NO. Title Purpose Note 1 Description of business and accounting policies Presenting a broad company profile and briefly summarized the accounting policies used by the enterprise. Note 2 Cash, Cash equivalents, and marketable securities Company’s cash,cash equivalents, and marketable securities measured at fair value on a recurring basis and categorized using the fairvalue hierarchy are summarized by major security type. Note 3 Property and equipment This note briefly summarized the cost and depreciation expense of major property and equipment. Note 4 Acquisitions, goodwill, and...
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...take to become a CPA and also specify what if any additional or different requirements my state New York has. Generally, there are three requirements for a CPA licensing, the three E’s: 1. Education 2. Exam 3. Experience New York also require you to have good moral character and be 21 years of age. 1. Education According the Aicpa.org website most states require 150 semester hours of schooling, which usually means you have at least a bachelor’s degree. Out of those 150 semester hours each state also requires a certain amount of accounting hours to be completed. This requirement has one exception in certain states- a number of years of verifiable experience in public accounting can be used in lieu of this education requirement. NYS requires a bachelors degree or higher and specifies certain classes that your degree of study must include. As part of your 150 semester hours, 33 semester hours in accounting is needed, along...
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...accountants work for individual clients and businesses to provide professional accounting services such as auditing financial statements and resolving tax issues. Accountants can provide advice on business matters such as the advantages of healthcare plans and compensation packages for employees. Public accountants in Texas must qualify for certification by meeting education and experience requirements and must pass the Texas Uniform CPA Exam. Therefore, the following paragraphs are discussion about the requirements sit for the Texas Uniform CPA Exam, the requirements to become a CPA in Texas, the topics the Texas Uniform CPA Exam covers, the testing windows for the Texas Uniform CPA Exam, and any other courses and issues that candidates have. To become a CPA in Texas, a candidate must be of good, moral character. In addition, a candidate must take and pass the Texas Uniform CPA Exam. Moreover, there are requirements to sit for the Texas Uniform CPA Exam. First, a candidate must hold a baccalaureate or higher degree from a board-recognized United States college or university, or an equivalent degree as determined by board rule from an institution of higher education in another country. For satisfying this requirement, a student must complete150 semester hours or quarter-hour equivalents of college credit.30 out of the 150 semester hours or quarter-hour equivalents described must be upper-level accounting courses from a board-recognized college or university, of which 15 semester...
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...Week 1 Paper March 10, 2014 The IASB and FASB Although the concept of the convergence of accounting standards is a new concept to some the idea has existed since the 1950’s. This idea came about as a solution for economic integration and the uptick in international business operations. When the project was first constructed it focused mainly on harmonizing the differences in principles that existed across many different capital markets throughout the world. The idea of harmonization remained in place until the 1990’s when the concept of convergence became the new priority. The concept of convergence centers on the concept of creating one set of accounting standards that would be used across all of the major financial markets in the world (FASB, n.d.). In order for this set of accounting standards to be uniform it requires the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) to work together towards the creation and implementation of the standards. The FASB has been the organization in charge of establishing the standards for financial accounting in the private sector within the United States since 1973 (FASB, n.d.). These standards are formally recognized by both the Securities and Exchange Commission and the American Institute of Certified Public Accountants (FASB, n.d.). They are more commonly known as Generally Accepted Accounting Principles or GAAP. The standards that are developed by the FASB are essential to maintaining...
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...agreement with Prime Trust Bank as their earnings have fallen and they have had to dig into their retained earnings. The below takes a look at possible opportunities that Summit has to improve their balance sheet, this would ensure that they are within the guidelines of their covenants. 1. If you were Kathy Hutton, what would you do? Due to the fragile nature of Summit Distributors business, we would agree with Dave Flander’s suggestion of going from LIFO to FIFO. There are a few negatives and positives with this decision. First, violating any of the loan covenants would alert the bank, and any future dealing with them would incur a 50 basis point increase on the lending rate (.50%). Also because of the switch older equipment would sit in storage for a longer period of time, thus forcing Summit to eventually sell it at a discount or depreciate it towards the base value only to have it collect dust. The reason for this is that the nature of the industry requires for our firm to have a variety of warehouses located in different locations with the newest equipment, in order to be competitive in the market. Due to the economic decline, fewer of our products will be purchased from us, and we can assume that no one would want to buy an older piece of equipment with such a fragmented industry offering many substitute options. So what Kathy Hutton should do is the following and some positive benefits: a. Switch over to a...
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... Contact person : Phone number: e-mail: Iris Calmes MSc RA 020 – 5677823 i.calmes@bppnederland.nl About the ACCA DipIFR The Diploma in International Financial Reporting is an internationally recognised qualification in financial accounting using International Financial Reporting Standards (IFRS / IAS). It is accredited by the ACCA (Association of Certified Chartered Accountants) and is aimed at accounting and finance professionals who already have experience in accounting. The aim of the qualification is to develop knowledge, understanding and application of International Financial Reporting Standards and the concepts and principles which underpin them. The Diploma is ideal for auditors, accountants, finance or tax professionals, who need a comprehensive refresher of IFRS/ IAS or who need to understand and apply the IFRS/IAS. To be eligible to take the Diploma one should: - be a member of an Accountancy professional body, or - have a relevant degree + two years work experience, or - have three years work experience. Overview Who should attend? Why study DipIFR On completion of the Diploma, students should be able to: - understand and explain the structure of the international professional and conceptual framework of accounting - understand the regulatory framework for reporting - apply relevant financial reporting standards to key elements of financial reports - identify and apply disclosure requirements for companies relating to the presentation of financial...
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...of Auditor | Type of Audit | 1 | IRS | Compliance | 2 | GAO | Operational | 3 | Internal Auditor or CPA | Operational | 4 | Internal Auditor or CPA | Financial Statements | 5 | GAO | Operational | 6 | CPA | Financial Statements | 7 | GAO | Financial Statements | 8 | IRS | Compliance | 9 | CPA | Financial Statements | 10 | Internal Auditor or CPA | Compliance | 11 | Internal Auditor or CPA | Financial Statements or operational | 12 | GAO | Compliance | Research 1-1 A.) To be eligible to sit for the CPA Exam, candidates must have graduated from an accredited college or university with a bachelor’s degree or higher, and have at least 24 semester credits in accounting subjects. These subjects include accounting and auditing, business law, finance, or tax subjects sanctioned by the Pennsylvania State Board of Accountancy. Candidates have 18 months to pass all four parts, beginning when the first section is passed. Candidates can sit for the exam with less than 150 credit hours, however they will be required to complete all 150 before a license is granted. B.) Some frequently asked questions: Why get licensed? How do I get licensed? What is a CPA? C.) This award is for candidates who have obtained a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, completed testing during the 2012 calendar year and...
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...Faculty of Business & Society Assignment Cover Sheet | | Module Code: | AF3S21 | | Module Tutors: | Ricky Li | | | | | | | Module Title: | International Issues of Accounting | | | | | | | Submission Date: | Sunday, 11:59pm, 12th May, 2013 | | Return Date: | You work will be returned within 20 working days of the date of submission. | | | | | | | | | | | | Plagiarism Advice:You must not engage in plagiarism when completing your coursework as it is a form of deception. It is deliberately or carelessly passing off another’s written or oral work as yours. If you engage in it, or allow others to copy your work, your work (and theirs) will attract a mark of zero pending investigation. Plagiarism includes copying the words (spoken or written), ideas or research results of another without acknowledging the original of the source. Acknowledging (crediting) a source requires an entry in your bibliography. It also requires proper annotation and applies to both electronic and paper sources. If an allegation of plagiarism is subsequently confirmed under the University’s procedures for dealing with unfair practices in assessments, it will go on your record and will be disclosed to those specifically requesting such information to be given in references for students Important Note:Assessments received after the hand in deadline will be given a maximum mark of 40% if submitted within 5 university working days of the deadline or a zero...
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