AICPA

A CPA designation is important for me because it is not only a barometer of knowledge and passion for accounting, but it is a representation of a person who has a strong work ethic and a mentality for invoking continuous self-improvement. In my undergrad, I sought out numerous opportunities to make myself a better accountant by joining a Volunteer Income Tax Assistance group, serving as treasurer for my fraternity and Institute of Management Accountants Club, and interning as a tax preparer amidst being a fulltime student. After reading the student experiences of Northeastern’s MSA program, I feel that the program will encourage my goals of becoming a CPA which has led me to consider Northeastern as my next career move.

The profession of accounting is a one that is highly regulated, due to the knowledge and power each accountant possesses. Although an accountants duties differ from one position to the next, the main sectors that accountants pursue are auditing or taxation. Auditing is ensuring the public that the information listed on the financial statements of public companies is free of material misstatements. While taxation is helping people or companies file their tax returns to the federal government or offering tax advice. In the world of auditing, you either follow the Public Company Accounting Oversight Board (PCAOB), for public company audits, or the American Institute of Certified Public Accountants (AICPA), for other entities

Institute of Internal Auditors, American Institute of Certifi ed Public Accountants and Association of Certifi ed Fraud

In order to adapt to the changing needs of professionals in the accounting industry and maintain the relevance of current accounting skills, the American Institute of Certified Public Accountants (AICPA) has made the decision to remake the CPA exam. During the January 2014 to September 1, 2015 timeframe, the AICPA used a number of focus groups, which included supervisors of newly-licensed CPAs, practicing CPAs, and boards of accountancy members. These industry professionals were asked to provide feedback with how to better prepare candidates to serve the accounting industry. The AICPA released a proposal on September 1, 2015, that reviewed all suggested changes (Roger CPA Review, 2015). The

Generally accepted accounting principles (GAAP) offer a framework for all standards, rules and procedures that are ""¦defined by the professional accounting industry" and have been adopted by "nearly all publicly traded U.S. companies" (Investing Answers). The principles contained within GAAP are regularly updated in order to "reflect the latest accounting methodologies," and companies rely on these updated principles, which are both established and administered by the American Institute of Certified Public Accountants (AICPA) and the Financial Accounting Standards Board (FASB) (Investing Answers).

According to Lindsey Thompson being a Certified Public Accountant also known as CPAs and fulfill a number such as preparing and filing taxes, auditing, financial planning and bookkeeping

With a license of a CPA, one can easily get into the field of public accounting. But what exactly does public accounting mean? According to accountingtools.com, “public accounting involves being an independent third party that examines the financial statements and supporting systems of client companies to see if their financial statements fairly represent the results, financial position, and cash flows of the clients.” Certified public accountants provide their service to many people which varies from an individual taxpayer to large corporations. Generally, public accountants work service falls under three categories: Auditing, Tax, and Consulting Services.

APSA Organized Sections have been a mainstay of the Association since first formed in the early 1980's. There has not been a comprehensive review of Sections and the ways in which the prominence of Sections has shaped the Association since then,

Following the Stock Market crash around the 1930’s, citizens lost faith in the market and the overall economy. Because of this, government leaders needed to rebuild their peoples’ hope, and responded by creating the SEC – an organization with the responsibility of regulating financial practices among publically traded companies. To do so, they enlisted the aid of the American Institute of Certified Public Accountants (AICPA). A few years after their partnership with the Commission, the two collectively created the Committee on Accounting Procedure (CAP), which later evolved to become GAAP. Since then, The Generally Accepted Accounting Principles has been the primary method of accounting in the United States. These principles were initially developed to protect American companies, investors, and other stakeholders, with their main objective to provide information that could impact company decisions in the future. Determined and then run by the country’s accountants, the method worked well following World War II, when the United States unquestionably became a

Certified Public Accountants (CPA) all over the world follow company policies and regulations. The Generally Accepted Accounting Principles (GAAP) is a standard accounting system used by accounts in the United States of America. CPAs who work for international companies use the International Financial Reporting Standards (IFRS).

In 1962, many at the Eighth International Congress of Accountants voiced the need to be able to compare financial statements from different parts of the world with a common set of standards. The American Institute of Certified Public Accountants (AICPA) published a book on the various accounting standards and practices in various countries. The AICPA also thought steps should be taken towards the idea of a single body of accounting principles by reactivating a committee on international relations (AICPA 1964). The AIPCA sought to foster the development of auditing, accounting, and reporting standards on an international basis. Wilkinson (1965) was one of the early authors to define accounting uniformity as “each company presents only one set of accounts for all investors, of whatever nationality.” This idea, along with many others would eventually culminate in the establishment of the International Accounting Standards Committee (IASC) some years later.

Certified Public Accountant (CPA) certification is the most important certification, and the highest professional designation for accountants in the United States. This certification allows accountants to prove their profound expertise and knowledge in accounting field upon successful competition of a set of requirements and ultimately certifying them as qualified accountants. Among other distinguished certificates available to professional accountants that would be just as beneficial for their accounting career depending on personal preference are: Chartered Global Management Accountant (CGMA), Certificate in Financial Forensics (SFF), and Certified Internal Auditor (CIA). As far as my personal career achievements go, obtaining the CPA certificate is my immediate goal; pursuing the CGMA certificate is part of my ideal plan.

After the year 2001 almost 120 countries have adopted the use of IFRS. On the other hand The United States Generally Accepted Accounting Principles have been set by the American Institute of Certified Public Accountants (AICPA) which is subject to Securities and Exchange Commission regulations. The AICPA first created the Committee on Accounting Procedure in 1939, and replaced that with the Accounting Principles Board in 1959. In 1973, the Accounting Principles Board was replaced by the Financial Accounting Standards Board (FASB) under the supervision of the Financial Accounting Foundation with the Financial Accounting Standards advisory council serving to advise and provide input on the accounting standards. Organizations such as United States Security and Exchange Commission, Financial Accounting Standard Board, and Governmental Accounting Standards Board influence the GAAP in the United States.

In Ireland, the Irish Auditing and Accounting Supervisory Authority (IAASA) was set up conformity to the provisions of Part 2 of the Companies (Auditing and Accounting) Act, 2003 (the Act). IAASA’s objectives under section 8 of the Act include the supervision of how the recognized accounting organizations control and monitor their members and the promotion compliance to high professional standards in the auditing and accounting profession

Chartered Accountants – is a member of AFFILICA International – a network of independent accountancy firms.