Summary
Given the ever-changing accounting profession, accountants knew it would be only a matter of time before Certified Public Accountant (CPA) and Certified Management Accountant (CMA), the two long-standing, highly regarded professional certification exams, would make changes. The key changes in the CPA exam relate to the specific content and skills coverage, including International Financial Reporting Standards, within the current four-section format. The new nine-step streamlined approach is designed to show students that dual certification is very attainable. These include: 1. Over the course of the junior-year semesters, a student completes the intermediate accounting sequence, corporate finance, an information systems course, operations management, and, if possible, a finance elective. 2. In June, the candidate uses the CPA program materials to prepare for the Business Environment and Concepts section of the CPA exam. 3. For the remainder of July and the beginning of August, the candidate uses the CPA program material for the Regulation section.
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Extract
Take Less-and Earn More
When we wrote our original article outlining a 10-step streamlined process for accounting students to take one part at a time and pass both the Certified Public Accountant (CPA) and Certified Management Accountant (CMA®) exams within one year after graduation (see "Take Two!" in the April 2007 issue of Strategic Finance), we couldn't help but wonder how long it would take for our recommended strategy to need updating. Given the ever-changing accounting profession, we knew it would be only a matter of time before these two long-standing, highly regarded professional certification exams would make changes. Such changes assure that future CPAs and CMAs are well-equipped to succeed in a dynamic, complex, global business environment. That time is now!
Much like the Financial Accounting Standards Board (FASB), which continually updates...See the full content of this document
(Copyright 2011)
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