Effective and Efficient Ways on How to Pass the Cpa Board Exam

One of the advantages to being a CPA within a large firm is that you have the opportunity to work in many areas of accounting for many varied company clients. This will give me a multifaceted experience level not easily obtained while working independently or for a smaller firm. I hope to have the opportunity to do some forensic accounting work where I would prove suspected embezzlement within a client’s company (S. Westfield, personal interview, August 1, 2008).

-Certified Public Accountant is the highest level for a tax professional. There are many bookkeepers and accountants, but only a small percentage of them are CPAs. Regular accountants and bookkeepers, regardless of how nice and pleasant they may be, can not, for example, represent the client with IRS, should any problem occur. Since many of the clients are successful

Therefore, if you are studying accounting in college you should have an idea of kind of accounting field you wish to enter. There is a quote that said, “CPA is always an accountant, but not all accountants are CPA.” Hence, there are a number of accountants who never pass the CPA exam and though they can perform a variety of accountancy task, they are not allowed to perform certain tasks that only a CPA can do. Hence, no matter if you are, a certified accountant or not you there will be a place for you in the accounting field. The larger companies will go out and hire a CPA (Certified Public Accountant) in order to maintain some form ethics within the company. However, the small businesses might hire an accountant to perform duties as a managerial accounting, cost accounting, and financial accounting.

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

The purpose of the Uniform CPA Examination is to provide reasonable assurance to Boards of Accountancy that those who pass the CPA Examination possess a competence level of skills and knowledge necessary for licensure in protection of public interest. The Exam is governed by American Institute of CPAs (AICPA). The Exam has four sections:

The American Institute of Certified Public Accountants (AICPA) is a professional accounting organization whose members are certified public accountants (CPAs).

The organization sets U.S. auditing and ethical standards for privately held companies, not-for profit organizations, federal, state, and local governments. It represents the CPA profession by serving ? as an advocate before legislative bodies, public interest groups and other professional organizations? (aicpa.org). Its creation established accountancy as a profession and distinguishes itself by demanding scholastic requirements, high professional accountancy principles, a stringent code of professional ethics and an obligation to serving the public

The CPA's traditional environment focused on auditing, accounting services, tax, and management services. Some of these services in taxation and management can be competently rendered by others. Only CPAs (and other public accountants where permitted by law) are licensed to examine financial statements and express opinions for which they are

.01 As professionals, certified public accountants perform an essential role in society. Consistent with that role, members of the American Institute of Certified Public Accountants have responsibilities to all those who use their professional services. Members also have a continuing responsibility to cooperate with each other to improve the art of accounting, maintain the public 's confidence, and carry out the profession 's special responsibilities for self-governance. The collective efforts of all members are required to maintain and enhance the traditions of the profession.

Professional certified public accountants are held in high regards, and public perception is very important and they must go far and beyond what is expected of them nor what the rules says. In carrying out their responsibilities, they must performed their duties in compliance with standards or ethical values of honesty, integrity, objectivity, due care, confidentiality, which must be fully committed to. They must put clients or public interest first before their own.

Imagine trusting your hard-earned money like your retirement savings to a financial adviser or Certified Public Accountants (CPA) only to lose it all in a fraudulent Ponzi scheme. In today’s world of business many organizations, financial planners and accountants are in the news due to the financial ethical breaches that have affected their customers, employees, and the general public. A CPA has to be responsible for their audits and take any punishments as a result of their mistakes, incompetence or illegal actions. CPAs are expected to have integrity in their work,

The PCAOB gives a new meaning to the public accounting industry. The board must be composed of five members, appointed for a 5-year term, two of which are Certified Public Accountants (CPAs) or have previously been CPAs, and three of which have never been CPAs. The chair of the PCAOB may be a CPA, but only if he has been out of practice for at least five years. "The members must be independent of the accounting profession as no member may, concurrent with service on the board, share in any of the profits of, or receive payments from, a public accounting firm, other than fixed payment such as retirement payments" (4). All members of the PCAOB must be appointed by the Securities and Exchange Commission (SEC). The board performs various jobs which include: "oversee the audit of public companies, establish audit report standards and rules, inspect, investigate and enforce compliance on the part of registered public accounting firms and those associated with the firms" (4). Not only do public accounting firms who audit the financial reports of public companies have to register with the PCAOB, but foreign public accounting firms must register as well. The standards of auditing include:

Students wishing to become business administration professionals have to participate in undergraduate or MBA programs to get according degrees. Also when it comes to accounting, a subdivision of business studies, students usually need to take several years of authorized examinations in order to become Certified Public Accountant, shortened as CPA.

There are four main fields of accounting and auditing listed by the Bureau of Labor Statistics: "public accounting, management accounting, government accounting, and internal auditing." CPAs are not limited to a narrow list of activities, in fact public accountants typically work with a "broad range of accounting, auditing, tax, and consulting

Following the undergraduate degree, an accounting student would choose an exclusive area to specialize in and work towards a completion of an additional year in university to finalize the 150 credit hours required in accounting to be eligible to sit for the Certified Public Accounting board exam. The 150 credit hours are needed to obtain the required body of knowledge and to develop the skills and abilities needed to be a successful CPA. After the theory portion of the educational experience is completed, the most important aspect becomes practical experience. Practical experience is what drives the market. The American Institute of Certified Public Accountants requires that either a one tier or two tier systems is required to obtain the CPA designation. This requires that relevant work experience is needed to become certified. This hands on experience helps to position a potential certified public accountant for a long and successful career. This professional curriculum is very detailed and requires a lot of individual steps entailed to reach the point of designation. If it were made into a professional school these segregated steps combined together would not only help to make things simpler, but it would allow the accounting profession to be similar to the curriculums of medicine, pharmacy and law. With an undergraduate degree, graduate theory and practice for four