Austin Accountants & CPA Advisor

Kinds of Accounting Degrees

Many community colleges (aka “junior” colleges) offer an Associate Degree in Accounting after the successful completion of two years of study.  A Bachelor of Accounting degree, however, from a four-year college or university is generally considered preferable. In addition, students may opt for a Bachelor of Business degree with an accounting major. There are many paths, educationally.

There are numerous degree programs offered for post-graduate study. Many of these programs allow for a focus on a specialized area of accounting, such as forensic, litigation support, or public sector accounting. A Master’s Degree of Accountancy (MAcc) has become a designation that signals significant academic achievement.

The accounting industry’s American Institute of Certified Public Accountants has promulgated guidelines for states to follow in licensing CPAs. As a consequence, many states now require CPA candidates to complete a minimum of 150 semester hours of college course work in accounting, and most schools have changed their curricula accordingly. It is advisable, therefore, for any prospective accounting student to research the requirements of the state where they wish to become licensed and also carefully select a school with an appropriate accounting curricula.

Certifications

Beyond CPA certification, there are other specialty designations accountants may wish to pursue.  For instance, a Certified Management Accountant (CMA) designation may be sought by those who have completed their baccalaureate degrees and have attained a minimum designated score on the graduate school entrance exams for specified institutions. CMA applicants must also pass an exam, agree to meet continuing education requirements, and demonstrate that they have worked for at least two years in management accounting. 

Graduates from accredited colleges and universities who have passed their CPA exams and worked in a particular specialty field for required periods of time can qualify for further certifications. A few of the designations and organizations offering advanced recognition are:

Certified Internal Auditor (CIA) from the Institute of Internal Auditors

Certified Information Systems Auditor (CISA) from the Information Systems Audit and Control Association
 
Accredited in Accountancy (AA), Accredited Tax Advisor (ATA), and Accredited Tax Preparer (ATP) from the Accreditation Council for Accountancy and Taxation

Other organizations, such as the Bank Administration Institute and the National Association of Certified Fraud Examiners also offer specialized accounting designations. It is not uncommon for an accounting professional to hold multiple licenses and have several designations listed after his or her name. For example, CPA is usually listed first, but for a tax specialist, for instance, CPA could be followed by ATA and ATP.