Abstract This paper explores the use, significance and validity of the well-known standardized tests, the CPA, GRE and DAT. Each test is examined individually with a discussion of how its results affect the student. The paper summarizes the findings of the research, stating that all three of these exams are for professional students seeking to enhance their careers and, as a result, will have stricter educational and test-center location requirements.
Outline:
Introduction
The CPA Exam
Background of the CPA Exam
The GRE Exam
Background of the GRE
The DAT Exam
Background of the DAT
Conclusion
From the Paper "The Uniform CPA Examination is the examination that individuals must pass in order to get licensed as Certified Public Accountants in the United States, Puerto Rico, the Virgin Islands and Guam. In order to take the examination, individuals must meet the requirements for education, experience, and knowledge and most states require 150 credits at a university. One such educational requirement is that if the initial application for examination is made prior to February 15, 2000, the candidate must have obtained a baccalaureate or equivalent degree conferred by an accredited school with a concentration in accounting or its equivalent. Additionally, another requirement is that a qualified candidate shall submit an application on Board approved forms with the required documentation. An applicant for certification shall have fiscal integrity and no history of acts involving dishonesty or acts which would constitute a violation of the rule regarding good moral character."
Abstract The writer discusses that, although there are many professions from which to choose, one may still choose to become a Certified Public Accountant due to interests and passions that are in this field. This includes a passion for numbers and an interest in financial matters.
Some may wish to become a CPA due to the knowledge that CPA's are important to society. Hence, they want to take the necessary exams to be able to qualify as a certified public accountant. There are those that wish to become a part of the important professionals who play essential roles in the maintenance of the society's financial matters, such as the preparation of tax returns for individuals and corporations or the preservation of the nation's finances and accountancy activities.
The writer looks at the accounting side of the profession and the importance of the CPA to society.
From the Paper "Accounting does not only involve numbers, formulas, and computations. Hence, it also involves one's ability to make good judgments and apply such judgments to the accounting professions. For instance, in an accounting task for a company, it is interesting to know several financial information of a company and then develop solutions or perform actions that can help the company solve financial problems or improve financial conditions.
Another factor that makes accounting interesting is the fact that unlike other professions, accountants are always updated on most economic issues. This is because their job not only depends on the tasks that they are supposed to perform, but also on the knowledge about the everyday economy. In relation, this is also because the responsibilities of a CPA is chiefly based on financial and economic aspects of every organization around him as well as the economic standing of the entire nation."
Abstract This undergraduate paper summarizes the article, "Vision Fulfilled", which examines the impact of the computer-based uniform CPA examination, which authors William W. Holder and Paula B. Thomas consider to be the "single most significant change in the licensing of CPAs in the profession" 100-year history. They note that over the past year, the Uniform CPA Examination has been well-received, primarily because of its state of the art technology, generation of higher pass rates, and reflection of the, "work environment candidates will be entering."
From the Paper "The article, "A Vision Fulfilled" examines the impact of the computer-based Uniform CPA Examination, which authors William W. Holder and Paula B. Thomas consider to be the "single most significant change in the licensing of CPAs in the profession's 100-year history." They note that over the past year, the Uniform CPA Examination has been well-received, primarily because of its state of the art technology, generation of higher pass rates, and reflection of the, "work environment candidates will be entering." (Holder and Thomas) The authors believe that this new examination has been positively received throughout the accounting profession not only because it was the product of more than five years of development, but because of the fortuitous timing of its appearance."
Abstract This paper explains that the 1990s saw a significant fall in the attractiveness of the accounting profession among students as noted by a 25% drop in accounting degrees in just 4 years from 1996 to 2001 in the United States. The author points out one of the reasons for this decline is that the educational model for accounting professionals had not been able to cope effectively with the rapidly changing business environment. The paper relates that stricter auditing and accounting rules in the Sarbanes-Oxley Act and the high expectations of the corporate stakeholders about fraud detection have forced the CPAs to make the required adjustments in the educational model, examination, and training of accountants.
Table of Contents
Downturn in the Accounting Profession
Effect of the Business Scandals
Sarbanes-Oxley Act and Its Effect on CPAs Restoring Their Image
Focus on Ethical Issue
Revival of the Auditing Function
Conclusion
From the Paper "In the 1990s, the accounting profession had de-emphasized the audit function in favor of accounting services to a large extent. This trend has reversed in the changed regulatory environment as more people than ever before now expect CPAs to detect and report fraud while reviewing financial statements. Although performing the role of the industry's watchdogs is a challenging task, the CPAs and their professional associations seem to be aware of the requirements and are taking the necessary steps for upgrading of the accountants? auditing skills."
Abstract This paper analyzes and examines issues related to starting up a small business (CPA or accounting firm). It examines step-by-step the stages required to set up an office from reason and motivation, to building a business plan, to necessary office equipment. It also discusses alternatives to setting up a small business such as working freelance.
From the Paper "Individuals who decide that working for a large accounting firm is not the right fit for them may decide to work as a freelance consultant or to partner up with fellow accountants or CPAs, and perhaps even lawyers. As with starting up a small business or striking out on your own, there are challenges in partnering with other individuals. For instance, some partners may have different visions about how to bring in and retain business or what areas to focus on. In addition, individuals may have different viewpoints about how compensation should be determined. For a partnership arrangement to work, the partners must agree to discuss the issues in a well-thought out, rational manner which allows for disagreement but also which emphasizes just resolution."
Abstract Accountants and auditors prepare, analyze and verify financial reports crucial to all business and government organizations. Two of the major accounting specialties are public accounting and managerial accounting.
This paper discusses the differences between chartered public accountants (CPA) and chartered managerial accountants (CMA) including the clients they serve and the examinations they have to pass before becoming qualified. The paper also examines the differences in wage earnings and career opportunities.
From the Paper "The professional designation of Certified Management Accountant (CMA) is achieved through the CMA Professional Program, a demanding training process in emerging business practices, which fosters management and leadership abilities, interpersonal and communication skills. CMAs are employed at all corporate levels, mostly in middle, senior and executive management positions which include but are not limited to: Chief Financial Officers (CFO), Controllers, treasurer, director of internal audit, chief accountant or cost accountant, director of taxation, managers or supervisors. Other CMAs are employed as accountants, auditors, analysts and consultants, with careers for management accounting professionals in all sectors of business and industry. (Rosenberg, pp.55-69.)"
Abstract This paper examines the mechanisms of three pharmacological agents (MPA, CPA, and LHRH agonists) for paraphilias and their effectiveness as well as an overview of paraphilias. It explains that the high rate of overlap among paraphilias suggests that the cause of various types of paraphilias might be the same. MPA, CPA and LHRH agonists appear to be very effective although they do not cure paraphilias. Ethical issues of pharmacological approaches (chemical castration) and a discussion about methodology of studies for these drugs are also provided.
From the Paper "People in the United States have been increasingly interested in pharmacological treatment of paraphilias or sexually deviant behaviors especially since several states passed so-called ?chemical castration laws,? following the case of Kansas v. Hendricks in 1997. These laws are capable of allowing or even requiring sexual offenders to be treated with medication in order to reduce their urges to commit sexual offenses (Bradford & McDonald, 2000). In the United States, only medroxyprogesterone acetate (MPA) is currently approved as treatment for sex offenders, while cyproterone acetate (CPA) is mainly used in Western Europe (Bradford & McDonald, 2000; Gijs & Gooren, 1996; Keagan, 2001; Nelson, 2000). In fact, these two drugs are primarily used to treat atypical sexual behaviors that are often considered to be attributed from paraphilias (Bradford & McDonald, 2000; Nelson, 2000; Oltmanns & Emery, 2001; Seligman & Hardenburg, 2000). Furthermore, some other drugs such as specific serotonin reuptake inhibitors (SSRIs) and luteinizing hormone-releasing hormone (LHRH) agonists have drown researchers? attention as promising pharmacological therapeutic agents for paraphilias (Bradford & McDonald, 2000; Keegan, 2001;)."
Abstract This paper discusses the job done by a CPA , Certified Public Accountant. The paper presents the educational requirements necessary for pursuing a career as a CPA and outlines the average salaries earned by accountants. The paper provides an outlook for the future of the accountant's job description with regard to technological advancements.
From the Paper "Certified Public Accountants (CPAs) are found in many walks of life. They are the well-paid and often highly publicized (albeit sometimes for the wrong reasons) Chief Financial Officers (CFOs) of major corporations and advisors to smaller neighborhood businesses (CPA.net., 2004). They work for both large and small public accounting firms, and are typically well-respected strategic business advisors and decision-makers. CPAs also act as business consultants on many issues, including taxes and accounting. Public accountants perform a variety of accounting, auditing, tax, and consulting activities for their clients, who include corporations, governments, nonprofit organizations, or individuals (U.S. Department of Labor Bureau of Labor Statistics, 2004). For instance, some CPAs concentrate on tax matters, such as helping companies understand the tax advantages and disadvantages of their business decisions and preparing individual income tax returns. Others serve as consultants in areas such as compensation or employee healthcare benefits, the development of accounting and data processing systems, and the selection of controls to protect assets. Others may audit clients' financial statements and report to investors and authorities that the statements have been properly prepared and reported. CPAs' usually either have their own businesses or work for public accounting firms."
Abstract In this article, the writer explains that the Certified Public Accountant (CPA) statutory title is conferred on accountants qualified by passing the Uniform Certified Public Accountant Examination. The writer points out that the Generally Accepted Auditing Standards (GAAS) are a set of ten auditing standards developed in 1947 by the American Institute of Certified Public Accountants (AICPA), referring to general standards, standards of field work and standards of reporting. The writer discusses that the general auditing standards state that the person or persons performing the audit must have adequate technical training and proficiency as an auditor. In addition, the writer notes that the auditor must keep at all times an independent mental attitude; and finally, professional care must be exercised when planning and performing the audit and when preparing the report.
From the Paper "Other requirements needed to be fulfilled for a license as a CPA are stated in Section 7404, Article 149, Title 8 of New York's Education Law: in the first place, an application must be filed with the department; then, after the candidate's education and experience have been found satisfactory, a written examination must be passed; also, the fees issue must not be forgotten, as a two hundred twenty dollars fee must be paid to the department for admission to a department conducted examination and a one hundred fifteen dollars fee for each reexamination for an initial license, and also a two hundred ten dollars fee for each triennial registration period."
Abstract This paper presents a case study analysis of the CPA firm, Good and Good who donate the preparation of one tax return for the silent auction of a local non-profit organization. It describes the ethical dilemma that the firm is faced with when the winner of the silent auction is announced. The paper looks at the options available to the firm to deal with the dilemma as well as the recommended solution to the problem.
From the Paper "In the future, the firm of Good and Good should take precautions to prevent this situation from happening again. Because it is good publicity, and thus good for business, to make an annual contribution to the non-profit organization's fundraising event, they should continue to do it (especially if such clients as Mr. Pinchpenny become regular clients as a result of the service). However, in order to prevent a loss such as that in the example, Good and Good should attach qualifications to their donation. For example, their donation could be the free preparation of an individual tax return up to a value of $450.00."
Abstract Corporate greed and corruption has changed the face of American business forever. Corporate greed was the primary factor in the downfall of Enron, Global Crossing and MCI WorldCom. The paper shows that the governing bodies, the Securities and Exchange Commission, the Senate, NASD and other powers that be decided to act and in 2002, the Senate introduced the Sarbanes-Oxley Act of 2002. The paper describes how this new law impacts CPA?s, CPA firms auditing public firms, publicly traded firms and their employees, lawyers, brokers, dealers, investment bankers and financial analysts who work for or have as clients as publicly traded companies. The paper looks at the mission and purpose of the law and examines its affect on the accounting industry.
Table of Contents:
Abstract
Executive Summary
Introduction
Purpose and Mission
What it does
The Effect of Sarbanes Oxley on the Accounting Profession
New Rules, New Practices
From the Paper "In addition to the mandates outlined above, Sarbanes Oxley Act allows for additional provisions that seek to prevent conflicts of interests that can be a precursor to corporate corruption. The Act bans what is known as the "revolving door", prohibiting registered CPA firms from auditing any SEC registered client whose chief executive, CFO, controller or equivalent was on the audit team of the firm within the past year. This Act is crucial to help lessen the "you wash my back, and I"ll wash yours? mentality. Another significant rule calls for auditors to be rotated every 5 years. This way, no auditor can audit a client for more than five consecutive years."
Abstract This paper focuses on the moral development and ethical decision-making methods of a select sample of certified public accountants (CPA)in Taiwan. The paper statistically analyzes the data with selected demographic variables that are collected through the appropriate testing instruments specifically designed to measure moral development and ethical decision making. The paper states that these specialized tools include the use of the Defining Issues Test for measuring the CPA's stages of moral reasoning and the Multidimensional Ethics Scale for measuring their ethical decision making process.
Outline:
Purpose of the Study
Theoretical Framework
Statement of the Problem
From the Paper "The research conducted by Rest has further found that "the average DIT scores increases about ten points with each increase in level of education." Thus, this study proposes that there are differences in the moral development of CPAs in Taiwan relating to their educational level. Further, this study proposes that there are differences in the ethical decision-making of CPAs in Taiwan relating to their educational level."
Tags: ethics-related, curricula, moral, development
An analysis of current market and applications for Executive Information Systems software solutions plus details of a small company and how it benefits when implementing such an executive information system.
Abstract The following paper examines how L.L. Bradford and Company, a regional CPA firm, decided to offer its clients full financial services. This paper discusses how such a company that wishes to effectively service their customers and maximize the value of the benefits they can provide, needs to find a software package that can integrate all the existing "legacy systems" on a relational basis, and allow information that previously had been available only to the auditors through their software to become available to all. The writer also examines how L.L. Bradford chose to buy and customize an off-the-shelf Executive Information System called "Goldmine";which allows all departments to have access to the same customer information, allowing for marketing of services, billing, follow-up and other services the company wishes to provide its clients. This paper goes on to prove that the above is a good example of the benefit of Executive Information Systems, as it shows basically what can be done, and how business and communication between business and clients, departments and management, owners and employees can be facilitated to build business and stimulate growth.
From the Paper "Internet technologies and applications have grown more rapidly than anyone could have envisioned, even as recently as five years ago. They have opened up new means and frontiers of communication, collaboration and coordination between customers, businesses and trading partners.Executive Information Systems, also known as Enterprise Software is an explosively-growing $23 billion a year sub-industry of software for companies looking to use technology to improve virtually every key corporate function ? manufacturing, finance, sales, marketing, human resources and supply-chain management. Executive Information Systems, or Enterprise Resource Planning software, solutions are software solutions that provide a common, consistent system to capture data organization-wide to integrate information across corporate functions and to provide tools for planning and monitoring the various functions and processes towards a common purpose. To compete effectively, companies are challenged to create new products, maximize efficiencies in service, processing and administration, and increase penetration within existing markets, all the while keeping customers satisfied with high levels of service which may span several time zones. While the profitability of corporations is typically measured in dollars, overall success can be measured in terms of profitability plus the attainment of organizational goals. This success derives from a synergy of inputs, including the work of employees who are dedicated, skilled and knowledgeable, and a management team that understands how to inspire competent and motivated performance through sensitive and responsive management of a continually changing workplace."
Abstract Discusses legal risks involved. Tax law. Liabilities of a tax practice. CPAs and lawyers as practitioners. Codes of conduct. Importance of maintaining good records. IRS Standards, and tax advice to clients. Written presentation of advice. Cases of negligence. Liabilities to tax practitioners from clients. Liability insurance; types of policies. Risk of lawsuits.
From the Paper "Legal Risks in Setting Up a Tax Practice
Introduction
Banoff (1999), writing in Taxes, suggests that the practice of tax law in today's economy is much like the dying tradition of sumo wrestling. This is because the typical tax practitioner (a lawyer or accountant)
spends many years preparing for the profession (e.g., college degrees, an M.S.T., a J.D. or an LL.M. in Taxation) and may have devoted himself or herself (often fanatically) to constant training and study in order to become an expert at his or her craft...[which was becoming impossible because] Along with an increasingly complex world of tax law, the publication of numerous quarterly, monthly, weekly a..."
Abstract Examines how computer technology and business competition have caused the role of a Certified Public Accountant to change from one of a transaction processor to one of a business partner.
Introduction
Technology and the Accountant in 2015
Conclusion
References
From the Paper "The traditional management accountants have focused on the tasks of counting, comparing, recording and reporting financial information. Whether we like it or not, technology and society have fully engaged to bring about drastic changes to the way we conduct business today. The very core competencies of accountants (i.e., measurement and reporting of business transactions) are being challenged by this information economy."
