Colleges Need to Prepare Future CPAs?
This question is simple who needs to prepare students to become future CPAs? The answer is many organizations help the students to understand the role of a CPA. First of all, we need to understand what a CPA is to get an in-depth understanding of everything. CPA (Certified Public Accountant) is a designation for those professionals who are qualified accountants in different English-speaking countries. In simple words, we can say that they are the charted accountant in other countries. Now let's get to the point where the question remains the same, and it is about the key factors, involved in becoming a CPA. Some of the major problems of institutions and the question arises are as follows: -
The Major Problem With Institutions
- The majority of schools don't teach essential emerging topics- There are some of the topics that keep on updating with time, and the students need to be updated with the changes. Most of the time the accounting professors pay less attention to those topics that are changing and give more emphasis to those which remain constant.
- Smaller schools have less coverage of emerging technology- There are colleges in the city areas where you can find all the tools, essential for better studies, whereas there are some of the universities which are located in rural areas where the education system lacks due to less coverage of emerging technologies.
- Accounting information systems (AIS) have become catch-all- If we talk about such kinds of topics where predictive analytics and SOC or skills such as digital acumen, our survey shows that the schools that touch on these areas have varying depths of coverage. In this case, the accounting information system is the best solution to teach students about financial reporting.
Questions To The Academic Organizations
- How do internships help? Are they stepping-stone to a job? -
All the 1st year students are generally not aware of the advantage of knowing to account. It has been observed that the students learn about accounting by taking the help of assignment companies required for all business students. Hence, it is very important to learn by doing the work. Therefore, it is essential to do the internship, and yes, it will help in getting a better job in this field.
- Is there a more appropriate way to train CPAs than the traditional route? -
In the traditional way the students are supposed to understand the theory of financial accounting which somehow is important for the student but not completely there is more than that where you need to learn through practical work. For that, there are criteria where you must work under the supervision of an experienced licensee for a specified period.
- Does the college accounting curriculum need to be altered? How can colleges better prepare young professionals? -
If we compare today's accounting system and the old one then we will come to know that it is very important to give a little blend to the accounting system. It is essential to accept the change where auditors speak the language of data, CPAs are well aware of the emerging technology.
In the above article, you have learned about the CPAs and how they get into the financial system also, the major question that will be answered that is who needs to prepare the students for CPA. There are problems with the institutions and there are questions to the institutions.