The Cpa Of The 21st Century Essay

This essay has a total of 926 words and 8 pages.

The Cpa Of The 21st Century


Business practices have changed during the past millenium. Businesses have

evolved over time from bartering goods and riverside trading, to small local

stores, mega malls, and business over the Internet. Through all these

changes, companies needed to keep records of their equity, assets,

liabilities, and cash flows in order to remain competitive in their field.

Accounting standards have also changed over the years, through FASB, CAP, and

APB, issuing updated efficient standards called GAAP. Due to the drastic

changes in the business world, CPA requirements for the twenty-first century

are being updated to reflect current business demands; these changes will

affect undergraduates, graduate students, and professionals in the accounting

field.

Requirements for sitting for the CPA exam are changing in Ohio as well as in

other states. William Bentz, OSU Professor and Legislative Task Force Member

says, "A total of 41 states, including New York, Florida, Ohio, Illinois, and

Texas have passed similar legislation.1" The change requires candidates to

have 150 semester hours or 225 quarter hours, a college degree, and the

equivalent number of credit hours needed for an accounting major to sit for

the CPA exam. This requirement will begin in Ohio with the May, 2000

examination. Any candidate who began the CPA exam process on or before

November 1999 will be covered under the old exam requirements. However, in

order for candidates to be successful in the accounting field, further

education will be needed to adapt to changing business standards and to

compete with accountants who passed the exam under the new requirements.

There are many reasons for the implementation of the 225-hour requirement.

Donald Tidrick, Senior Lecturer University of Texas says, "In 1989 a

publication was issued from the Big Eight Accounting Firms to Higher

Education. The point of the publication was to inform higher education

personnel that students were not learning the right methods and skills needed

in the accounting field.2" Since then changes have been made in the business

track curriculum. Team projects and presentations in class develop written,

verbal, problem solving and interpersonal skills. There is a need for

accountants to relate to more broadly educated executives and operate in a

more complex environment. Accounting firms have a desire to sell more

value-added services to their clients in order to remain competitive. The

AICPA web page states, "With increased demands on CPAs to offer diversity in

the business world for clients, the 225-Hour Requirement is necessary to be a

broadly prepared Certified Public Accountant.3" CPAs of the twenty-first

century must be well educated, possess superior accounting skills, and strive

for excellent quality work in order to remain competitive in the accounting

field.

The requirement increase of 225-quarter hours can be acquired in three

different processes: The hours can be accumulated by obtaining a master's

degree, pursuing a second undergraduate major or minor in any field relevant

Continues for 4 more pages >>




  • Intrnational MKT research Canada
    Intrnational MKT research Canada TABLE OF CONTENTS Preface Introduction Canada -- USA\'s Largest Trading Partner NAFTA Introduction Exporting Guidelines Incentives Customs Contacts Trade Contacts Company Specific -- Massasoit Machine, Inc. Manufacturers\' Representative Recommendations Appendices A Country Data B Canadian Domestic Economy C Canadian Trade Statistics D Canada - New England Trade Summary, 1997 E NAFTA: A Partnership at Work F (SIC-3081) - Machine Shop Industry G List of Major Indu
  • History of the American Drug War
    History of the American Drug War History of the American Drug War The first act of America\'s anti-drug laws was in 1875. It outlawed the smoking of opium in opium dens. This was a San Francisco ordinance. The basis on passing this law was that Chinese men had a way of luring white women to their dens and causing their "ruin", which was the association with Chinese men. Later, other Federal laws such as trafficking in opium was illegal for anyone of Chinese origin. The opium laws were directed a
  • Intrnational MKT research Canada
    Intrnational MKT research Canada TABLE OF CONTENTS Preface Introduction Canada -- USA\'s Largest Trading Partner NAFTA Introduction Exporting Guidelines Incentives Customs Contacts Trade Contacts Company Specific -- Massasoit Machine, Inc. Manufacturers\' Representative Recommendations Appendices A Country Data B Canadian Domestic Economy C Canadian Trade Statistics D Canada - New England Trade Summary, 1997 E NAFTA: A Partnership at Work F (SIC-3081) - Machine Shop Industry G List of Major Indu
  • Life
    life Deep Play: Notes on the Balinese Cockfight The Raid Early in April of 1958, my wife and I arrived, malarial and diffident, in a Balinese village we intended, as anthropologists, to study. A small place, about five hundred people, and relatively remote, it was its own world. We were intruders, professional ones, and the villagers dealt with us as Balinese seem always to deal with people not part of their life who yet press themselves upon them: as though we were not there. For them, and to
  • Business and the economy
    Business and the economy Task - 1 Discuss whether firms like Rechem should be allowed to "import" chemical waste from overseas to be disposed of here in the U.K. ANALYSIS Rechem have thirty years of experience in solving environmental problems caused by a wide range of hazardous and toxic materials. Their range of services included the following: ∑ Waste Management ∑ Logistics ∑ Incineration ∑ Project Management ∑ Recycling ∑ Environmental Monitoring (See APPENDIX A) DISCUSSION Not all Countrie
  • --------------------------------------------------
    HR -------------------------------------------------------------------------------- Hot Jobs Senior Systems Engineer--IP Telephony SEATTLE, WA Duties will include: Testing & Validation of VoIP on EDGE modulation, as well as verifying the performance of internet based applications in a wireless environment. Basic research and implementation of VoIP protocols within a verification test bed. Planning requires basic project management skill sets utilized in a verification test bed environment. Mini
  • Canadas Brain Drain Issue
    Canadas Brain Drain Issue What is a brain drain? It is the emigration of highly educated and skilled Canadians to the United States. Does Canada suffer from a Brain Drain? This is a question that economists have been trying to answer for a decade now and have conducted different studies resulting to different conclusions about this issue. There are some economists that believe that yes Canada is suffering from a brain drain if not now it will be soon, amongst those economists are Don DeVortez a
  • Sustainable Growth
    Sustainable Growth Not until the spread of the Industrial Revolution in the late nineteenth century, has man possessed the ability to adversely alter, on a global scale, the geologic and climatic cycles that have existed for millennia. Planet earth, which man calls home, is approximately 5 billion years old. The science of paleontology tells us that man is a relative new comer to the planet. Modern man did not arrive on the scene until approximately 10,000 to 15,000 years ago. Developments in h
  • Towards a Sustainable Community
    Towards a Sustainable Community Not until the spread of the Industrial Revolution in the late nineteenth century, has man possessed the ability to adversely alter, on a global scale, the geologic and climatic cycles that have existed for millennia. Planet earth, which man calls home, is approximately 5 billion years old. The science of paleontology tells us that man is a relative new comer to the planet. Modern man did not arrive on the scene until approximately 10,000 to 15,000 years ago. Deve
  • Yoga
    yoga With an increasing trend in western culture toward the use of alternative therapies, yoga is emerging as a primary means for achievement of both physiological and psychological wellness. Traditional yoga utilizes a combination of both physical and spiritual methods for faciliatation of self-improvement. The origin of yoga has not been clearly identified, however archeaological evidence suggests its existence as early as circa 1300BC (Starre 1989). Starre suggests that there are four main b
  • Yoga
    yoga With an increasing trend in western culture toward the use of alternative therapies, yoga is emerging as a primary means for achievement of both physiological and psychological wellness. Traditional yoga utilizes a combination of both physical and spiritual methods for faciliatation of self-improvement. The origin of yoga has not been clearly identified, however archeaological evidence suggests its existence as early as circa 1300BC (Starre 1989). Starre suggests that there are four main b
  • Vietnam2
    Vietnam2 INTRODUCTION The war-torn country of Vietnam is once again in the midst of a revolution. Only this war is not being fought with soldiers and tanks; rather, it is being fought and won with businessmen and free-trade. This new on-slot of foreign business in the formerly closed country have completely rejuvenated the Vietnamese economy. For the first time since the re-unification of Vietnam in 1976, the doors of the market place are opened to the outside world and Vietnam is aggressively
  • Vietnam2
    Vietnam2 INTRODUCTION The war-torn country of Vietnam is once again in the midst of a revolution. Only this war is not being fought with soldiers and tanks; rather, it is being fought and won with businessmen and free-trade. This new on-slot of foreign business in the formerly closed country have completely rejuvenated the Vietnamese economy. For the first time since the re-unification of Vietnam in 1976, the doors of the market place are opened to the outside world and Vietnam is aggressively
  • The agency now known as the Federal Bureau of Inve
    FBI The agency now known as the Federal Bureau of Investigation (FBI) was founded in 1908 when Attorney General Charles J. Bonaparte appointed an unnamed force of Special Agents to be the investigative force of the Department of Justice (DOJ). Prior to that time, DOJ borrowed Agents from the U.S. Secret Service to investigate violations of federal criminal laws within its jurisdiction. By order of Attorney General George W. Wickersham, the Special Agent force was named the Bureau of Investigati
  • Beauty Myth
    Beauty Myth This month\'s column is for women who believe their thighs are too big, their breasts are too small, their hair is boring, their skin is flawed, their body is shaped funny, or their clothes are outdated. This month\'s column is for women who believe their life would improve if they could lose 15 pounds; if they could afford contact lenses, that new perfume or anti-cellulite concoction; if they got a nose job, a face lift, a tummy tuck, etc. This month\'s column is for women who feel
  • Future of Public Administration
    Future of Public Administration Public Administration - what is it? Public administration is often regarded as including also some responsibility for determining the policies and programs of governments. Specifically, it is the following: ∑ Planning ∑ Organizing ∑ Directing ∑ Coordinating ∑ Controlling of government operations. Public administration is a feature of all nations, whatever their system of government. Within nations public administration is practiced at the ∑ Central ∑ Intermediate
  • An Analyssi of Terrorism
    An Analyssi of Terrorism Introduction On September 11, 2001, every person was stunned with the earth shaking news that the World Trade Center (WTC), the highest building in the world was attacked by terrorist. This was done by hi-jacking two commercial airplanes which plowed the two famous sites. More than 5,000 American was feared dead. This was the most recent and most devastating terrorist act that brought terrorism into the timelight. Terrorism is a term of uncertain legal content. The term
  • Origins of the NHS
    Origins of the NHS Origins of the NHS The NHS began in 1948 as a result of an act of Parliament in 1946, under the guidance of Aneurin Bevan, then a Minister of the incumbent Labour Government, and in response to the Beveridge Report on The Welfare State of 1942. Most hospitals in the UK had previously been operated as non-profit making concerns. About two-thirds of them had been run by Local Authorities (the bodies also responsible for local Fire Services, Schools, Roads etc), with about one t
  • Why Abortion Must Be Legel
    Why Abortion Must Be Legel Why Abortions Must Be Legal No matter how any of us feel about embryos and fetuses and their "rights"...about women and sex and responsibility...about God\'s will, Karma, or the Bible...the fact still remains: Women have always used abortion as a last resort to prevent the birth of a child, and they always will, regardless of what the laws say or the rest of us think. But when abortion is illegal, it is unsafe and dangerous. Therefore, abortion must be legal, and it m
  • Texas
    Texas Texas, one of the West South Central states of the United States. It borders Mexico on the southwest and the Gulf of Mexico on the southeast. To the west is New Mexico, to the north and northeast lie Oklahoma and Arkansas, and Louisiana bounds Texas on the east. Austin is the capital of Texas. Houston is the largest city. Texas is the size of Ohio, Indiana, and all the New England and Middle Atlantic states combined, and its vast area encompasses forests, mountains, deserts and dry plains,
  • Decision making
    decision making Document-Driven DSS is a relatively new field in Decision Support. Document-Driven DSS is focused on the retrieval and management of unstructured documents. Documents can take many forms, but can be broken down into three categories: Oral, written, and video. Examples of oral documents are conversations that are transcribed; video can be news clips, or television commercials; written documents can be written reports, catalogs, letters from customers, memos, and even e-mail. Jane
  • Intern
    Intern HSBC- we are the world\'s local bank The Business/Organization The HSBC Group is named after its founding member, The Hong Kong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between Europe, India and China. The inspiration behind the founding of the bank was Thomas Sutherland, a Scot who was then working for the Peninsular and Oriental Steam Navigation Company. He realized that there was considerable demand for local banking facilitie
  • Gender Roles In Language
    Gender Roles In Language Examine the language in relation to gender, and observe its changing role in society. "A businessman is aggressive; a businesswoman is pushy. A businessman is good on details; she is picky.... He follows through; she doesn\'t know when to quit. He stands firm; she is hard.... His judgements are her prejudices. He is a man of the world; she\'s been around. He isn\'t afraid to say what is on his mind; she is mouthy. He excersises authority diligently; she\'s power mad. He\
  • Accounting Scandal
    Accounting Scandal I should be guilty of dissembling if I were not to refer to the economic difficulties which have affected Japan recently along with several other countries. I assume that these difficulties have come as a shock to people in Japan because of their contrast with the prolonged period of economic success which preceded them. But they show, as history has shown so often, that the enjoyment of steady uninterrupted growth, over the very long term, is beyond the capacity of nations. E
  • Accounting
    Accounting Accounting is the compilation of financial information for use in making economic decisions. BOOKKEEPING provides the basic accounting data, by systematically recording such day-to-day financial information as revenue from the sale of products or services; expenses of business operations such as the cost of merchandise sold; and overhead expenses such as rent, wages, and so forth. Accounting principles determine which financial events and transactions should be recorded in the bookkee
  • Role and evolution of IASB
    Role and evolution of IASB "The role and history of the International Accounting Standards Board, including an examination of the Board\'s evolution and stance on ethics issues." The International Accounting Standards Board, (IASB), began life as the International Accounting Standards Committee (IASC) in the 1973. The IASC was created in June 1973 as a result of an agreement by the accountancy bodies of Australia, Canada, France, Germany, Japan, Mexico, the Netherlands, the United Kingdom and Ir
  • Accounting
    Accounting Accounting is the compilation of financial information for use in making economic decisions. BOOKKEEPING provides the basic accounting data, by systematically recording such day-to-day financial information as revenue from the sale of products or services; expenses of business operations such as the cost of merchandise sold; and overhead expenses such as rent, wages, and so forth. Accounting principles determine which financial events and transactions should be recorded in the bookkee
  • Structure of American and California Governments
    Structure of American and California Governments The United States of America is one of the most powerful nation-states in the world today. The framers of the American Constitution spent a great deal of time and effort into making sure this power wasn\'t too centralized in one aspect of the government. They created three branches of government to help maintain a checks and balance system. In this paper I will discuss these three branches, the legislative, the executive, and the judicial, for bot
  • Home Depot -VS- Lowes
    Home Depot -VS- Lowes Home Depot / Lowe\'s Financial Analysis 1 Running head: THE HOME LEADER -VS- IMPROVING HOME IMPROVEMENTS The Home Leader -vs- Improving Home Improvements James J. Elliott Capella University Douglas Smith, PhD Accounting and Finance in Organizations Home Depot / Lowe\'s Financial Analysis 2 Abstract An industry of competition, and tight margins The Home Depot, and Lowe\'s Company are still at it. Both of these companies stand now as the industry standard for the home improve
  • Business And The Economy
    Business And The Economy Task - 1 Discuss whether firms like Rechem should be allowed to import chemical waste from overseas to be disposed of here in the U.K. ANALYSIS Rechem have thirty years of experience in solving environmental problems caused by a wide range of hazardous and toxic materials. Their range of services included the following: · Waste Management · Logistics · Incineration · Project Management · Recycling · Environmental Monitoring (See APPENDIX A) DISCUSSION Not all Count
  • Tour de france
    tour de france The Tour de France is considered the world\'s most competitive bicycle race. Each summer top cycling teams from around the world compete in the three-week event, which sends riders on a grueling, multi-stage course through the mountainous countryside of Ireland, France, and Belgium. In 1998, the image of Tour de France cyclists as athletes at the peak of their natural abilities was tarnished by allegations of widespread performanceenhancing drug use among competitors. The "doping"
  • MANDATORY ROTATION OF AUDITORS
    MANDATORY ROTATION OF AUDITORS Abstract In light of a number of high-profile corporate failures during the first half of 2001, a number of studies have been performed to address the impact of mandatory rotation of audit firms to ensure the appropriate level of ‚Äėindependence\' of auditors. Majority of studies conclude that the detrimental effects of firm rotation on the quality of the audit work by far outweigh its positive effects as a safeguard against various independence and quality threats
  • Problems In Air Traffic Control And Proposed Solut
    Problems In Air Traffic Control And Proposed Solutions Problems in Air Traffic Control and Proposed Solutions In northern California this summer, the Federal Aviation Administration (FAA) unintentionally performed it\'s first operational test of free flight ; aviation without direct air traffic control. This was an unintentional experiment because it was a result of a total shut-down of the Oakland Air Route Traffic Control Center (ARTCC). Although Oakland is only the 16th busiest ARTCC, it\'s r
  • Ethics and Legal Obligations
    Ethics and Legal Obligations For most organizations, values statements are simply rhetoric that sits on a fancy plaque on the wall. The real values are seen in the halls, not on the walls. High performing organizations are clear about their values and about what they translate into in day-to-day behavior. They use their values strategically, to guide every decision and action. The challenge with values is that they are usually vague concepts that have different meanings to different people. Ever
  • Switzerland
    Switzerland Switzerland is best described by conveying an understanding of its geography, political, economic, cultural and social environments. The geography of the country has had a significant impact on its way of life. Switzerland is bordered by Germany in the north, Austria and the Principality of Liechtenstein in the east, Italy in the south and France in the west. This represents many significant European cultures converging on Switzerland - the German speaking region, the French and the