As the various economies of the world flourish, there is found an increase in the requirement of skilled accountants. A suitable candidate for becoming a master CPA is one who has gone through a number of accounting courses.
In this article, we will inform you about the kind of subjects these people go through to become a master CPA.
There are various accounting courses that a CPA needs to successfully complete, before he can be considered to be a master CPA.
These various accounting courses may include Principles of Accounting I, Principles of Accounting II, Information Systems, Intermediate Financial Accounting, Cost Accounting, Federal Taxation and Managerial Decisions, Financial Statement Analysis, Applied Financial Analysis and Portfolio Management, Research Project in Accounting, Accounting Principles, Principles of Financial Accounting, and Principles of Managerial Accounting.
Some other accounting courses may include Management Accounting, Federal Taxation I, Corporate Financial Reporting, Principles of Financial Accounting, Accounting Information Systems, Federal Taxation II, Advanced Financial Accounting, Auditing and Assurance, Advanced Management Accounting, Cost Management Systems, MAcc Graduate Research Seminar, and Research Projects.
Let us see the details of some of these accounting courses.
Principles of Accounting I – This course covers basic financial accounting principles for a business enterprise. Topics include the accounting cycle, merchandising accounts, asset valuation, income measurement, partnership accounting, and corporation accounting.
Principles of Accounting II – This course provides an introduction to managerial accounting. Development of managerial decision-making skills is stressed through the coverage of the following topics: cost behavior, job-order and activity-based product costing, cost-volume-profit analysis, profit planning and budgeting, standard costs and variance analysis, segment reporting and transfer pricing, relevant costs, capital budgeting, and the statement of cash flows.
Information Systems – An introduction to computers and information processing. Topics discussed include basic hardware and software concepts, telecommunications, electronic commerce, business processes, strategy, databases, artificial intelligence, ethics, and legal issues. Also covered is spreadsheet analysis and use of the internet.
Accounting Principles – This course covers underlying concepts of financial accounting for both business and government (not-for-profit) organizations and develops an understanding of financial reports. Other topics covered include budgeting, fund accounting, and elements of managerial accounting. Course does not prepare students to begin preparation to sit for C.P.A. examination, and will not provide sufficient background for further work in accounting.
Principles of Managerial Accounting – This course deals with decision-making in organizations, where the decisions involve the generation, analysis, or use of financial information. The major topics in this course include the use of accounting in making alternative choice decisions, the development and use of product cost information, and the use of accounting information for managerial planning and control. Throughout the course, a managerial viewpoint is stressed. Cases are used.
Management Accounting – This course introduces the basic concepts of managerial accounting for internal decision-making. Major topics included are product costing, emphasizing costing approaches used in today’s business environments, relevant costs for decision analysis, variance analysis, divisional performance evaluation, and transfer pricing.
All these accounting courses can help a candidate to become a master CPA. If you want to learn more about these courses, you can search on the Internet.