The Requirements of Enrolling for an Advanced Degree in Accounting
The purpose of this assignment is to engage in a selected activity related to career development. After completing one of the options from the “Career Development Activities” below, write a paper (750-1,000 words) that includes the following:
1. An explanation of the career development activity that you participated in.
2.How the activity will influence your current or future career.
The paper may be written in first person voice and must be grammatically correct. At least two external sources should be cited in the paper. The paper must be written on activities that have been completed during this current course.
Career Development Activities:
1. Go to a professional association meeting, such as a local chapter meeting of the Institute of Management Accountant (IMA), Accounting and Financial Women’s Alliance (AFWA), or your state board of accountancy. Write a paper that meets the assignment expectations and explains what you learned from this meeting and how this will influence your career.
2.Research a professional license, certification, advanced degree or designation related to your intended profession. Write a paper that meets the assignment expectations and explains what you learned from your research and how this will influence your accounting career.
3. Find an Excel tutorial online and complete the tutorial. Write a paper that meets the assignment expectations and explains what you learned by completing the tutorial and how this will help you in your career. Be sure to include the link to the specific tutorial that you completed and, if a certificate of completion is available, embed the certificate in your paper.
4.If you have an activity that you plan to participate in that will enhance your career knowledge, you may ask the instructor if you may use this as a Career Preparation assignment opportunity.
5.Participate in other activities as directed by the course instructor.
Pick any activity
The Requirements of Enrolling for an Advanced Degree in Accounting
Activity 2 - Research a Professional License, Certification, Advanced Degree or Designation Related to Your Intended Profession
The career activity I participated in is research on licensure, certification, designations, and advanced degree requirement for the accounting and auditing profession in the United Kingdom and the United States. I aimed to explore the career path of accountants by understanding the existing forms of certifications and licenses in the field and the procedures. Additionally, I examined the various designations that come with certifications and licenses and how they influence career outcomes. With the main goal being to develop accounting skills continuously, I identified the requirements of enrolling for an advanced degree in accounting.
To acquire a certification or license in the field, completing a bachelor’s degree in accounting is a requisite qualification. There are so many accounting certifications that it becomes difficult to select the best option. According to several research studies, the Certified Public Accountant (CPA) is termed the most versatile, respected, and widely recognized credential in the accounting field (Owusu et al., 2018). Although the requirements of) becoming a CPA are different across all the states, general requirements start with passing a standard CPA exam which is the same in all states. Although some states require work experience, a person can apply for a CPA license. The designation of CPA qualifies one for almost all the jobs in the industry, such as public accountant, auditor, and tax accountant.
Other common accounting certifications include Chartered Financial Analyst (CFA), Certified Management Accountant (CMA), Enrolled Agent (EA), Certified Internal Auditor (CIA), and others (Pleis, 2019). After passing the exams offered by their respective boards, all these certifications give expertise in one area. They give one limited designation to practice in a specific area, unlike CPA. Besides, it is only a licensed CPA qualified to audit a public company or present a tax return client in court or Internal Review Services (IRS). The process of acquiring the designation of a certified public accountant is similar in the UK, with the requirement of obtaining a relevant degree, gaining work experience, taking a CPA course, passing the exam, and applying for the license.
An advanced degree in accounting, also known as a master’s in accounting, provides a higher level of proficiency in the field, which opens one up for consideration for upper-level accounting positions. Depending on the institution of choice, enrolment into US and UK programs will typically require one to hold a bachelor’s degree from an accredited institution, not fundamentally in accounting. Some programs will require one to have prior work experience in the field. Also, the program is highly competitive, and some institutions may require a GPA of 3.0 or above (Mcbride &...