What are the Educational Requirements for Accountants?

June 19, 2012 · Posted in Accounting · Comment 

Do you know the Educational Demands for Accountants?

To become a successful accountant, you’ll need not just a keen eye for numbers along with a passion for assisting other people make sense of them. In today’s world of advancement, studies, and technology, the majority of career paths have a set of academic needs so that you can shine in that field. Accountants aren’t any different. You’ll find diverse levels of accountant that one could choose to progress through, so selecting the best education and learning path is a vital step.

* The majority of accountants operate in the public market, including: bookkeepers, tax consultants/advisors, auditors, working accountants, and forensic accountants. You can begin meeting the academic requirements for most all of these positions with an Associate’s or Bachelor’s degree, that provide equivalent classes. Jobs such as bookkeeping and consulting might not exactly demand additional educational requirements should you have significant proficiency and also past experience already under your belt. To be a public accountant, the prerequisites will be more lenient rather than for a Certified Public Accountant (CPA).

*To become a CPA you have to fulfill a minimum of education and work related requirements and examinations depending upon your states requirements. A Bachelor’s degree is almost always required, many times a Master’s degree or equivalent is as well. If you are just starting out with a Bachelor’s degree, you will likely have to consider continuing your education into the Master’s degree level and beyond for these positions.

The academic demands for accountants change dependent on the position in which you desire to target. High school graduate students or people enrolled at a community or technical school may be able to find work as an accounting clerk, that is a great way to start getting insight and skill in the field of accounting.

If you are interested in becoming a public accountant on the basic level, and you want to attain a basic working knowledge of the accounting world, then you can sign up for certification or Associate’s degree programs at a technical college or local or online university. Devry University offers the following basic courses, aside from core courses, in their Associate’s degree in accounting program:

* Financial Accounting

* Accounting Theory and Applications

* Introduction to Individual Income Taxation

* Introduction to Cost Accounting

* Introduction to Accounting Information Systems

For a more complete knowledge and extended job opportunity board, going after a Bachelor’s degree from an approved university or college might put you on a greater route to success. Beyond that, the sky is the limit as you can customize your ongoing training decisions to fit in which you desire to take your accounting career. Many accounting positions will require a Bachelor’s degree for certification and advancement reasons. Based on becomecareer.com, here are some good examples of what classes that you could be asked to take in addition to the basic (core) course specifications by the university or college in order to become a public accountant, or to plan for the continuance of a CPA:

*Accounting Ethics and Professional Responsibilities

*Accounting Information Systems

*Advanced Financial Management

* Auditing

* Corporate Governance and Internal Control Assessment

* Cost Management

* Federal Income Tax

* Fraud Examination

*Government and Not-for-Profit Accounting

*Legal Elements of Fraud

Becoming a CPA requires the same basic courses and experience that a public accountant does, however with extensive additional training and education. It has been stated that “All CPA’s are accountants, but not all accountants are CPA’s”. That is because you have to start working at the accountant level before you can even ponder becoming a CPA. If your goal is to become a CPA, fight hard for it because it is worth it in the long run! Most states now require 150 credit hours, as opposed to the 120 credit hours that most Bachelor’s degrees require, in order to take the CPA licensing examination. Many colleges and universities are sympathetic to this and offer extended 150 credit hour degrees to prepare you for the CPA exam. This can be a fast track way to save you time and money, and get you where you want to go.

If you’re looking for the best way to become an accountant, then visit www.HowToBecomeAnAccountantHQ.com, or, her other blog, How To Become An Accountant, to find the best advice about accounting education and careers.

How To Become A Managerial Accountant

June 12, 2012 · Posted in Accounting · Comment 

A managerial CPA is not be similar to other financial advisers. Here are a few distinctions between all of them.

Typical accountants are essentially back looking for the reason that they look at information that has already happened. Managerial accountants will be more forward looking in that they make base their business actions on the future by using a number of tools. This is the primary difference between management accountants and traditional accountants.

Management accountants therefore not only need to be thorough in accounting principles, they also need to have sufficient analytical ability and decision making ability, to be able to make projections.

Considering that a management accountant’s job is that much more than even a CPA’s (Certified Public Accountant’s) and that they earn on average 22% more than accountants in a similar capacity in other fields, the requirements to become a managerial accountant is fairly low.

In fact, there is no certification needed to become a managerial accountant too, although being certified opens more doors and enables you to get better jobs.

All you need for a certificate in management accounting is a BA. Sometimes you don’t even need this if you have enough on the job training.

What you BA is in is inconsequential.

However, considering the difficulty level of the examination, a bachelor’s degree with a strong emphasis on accounting principles not only makes it much easier, it is becoming almost a must have.

The only other requirement to sit for the CMA examination is that the candidate has two years of working experience in management accounting or financial management. It is however not required that they are in a position to make financial projections.

For those who are lacking a BA, you can just take the GMAT or GRE. You will then be able to take the CMA exam (as long as you are at least within the top 50th percentile).

The examination is a two part one and is configured in such a manner as to test the candidates understanding of topics like budgeting, forecasting, planning, control, ethics, performance management, risk management, investment decisions and financial statement analysis.

Even though it doesn’t take too much to be able to take the CMA exam, the test itself is brutal. Even having a BA in Accounting accompanied by an MBA doesn’t ensure that you will be passing the exam without a lot of preparation.

Becoming a member of the IMA or Institute of Management Accountants is necessary as well. After paying a yearly fee, you should give them all of your education and experience information prior to paying for the exam itself.

To summarize, a management accountant is more manager than accounting, as you need to be able to make decisions about business based on financials. So even if you aren’t a CMA, you can obtain a position as a management accountant.

However, as mentioned before, getting certified is always a good idea.

Looking to find the best way tobecome an accountant, then visit www.HowToBecomeAnAccountantHQ.com to find the best advice on becoming an accountant for you.