Business Memo
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Accounting 243: Accounting Research
INSTRUCTOR: Eralda Kanacevic, MBA
Instructions: Exam is due by 10/23/12 @ 11:59pm
Please submit in the drop box under week 4.
Student: Gergana Ruseva-Ormanova
1-What are the skills that are tested on the CPA and what are they called?
The skills tested on the CPA Exam are: researching relevant financial accounting, tax, auditing and attestation literature; communicating business information; analyzing and interpreting business information; rendering judgment based on available business information; and gaining an understanding of key business terms, facts and processes.
2-How AICPA does define these skills?
The Core Competency Framework defines a set of skills-based competencies needed by all students entering the accounting profession, regardless of the career path they choose. The Framework is an online resource (www.aicpa-eca.org) that educators can utilize to develop or reform curricula to support the development of a set of competencies aimed at helping students acquire the knowledge and develop the talents that will lead them to personal success in the accounting profession. The Framework focuses on skills and is not structured around traditional subject/content areas or accounting services. A skills-based curriculum versus a knowledge-based curriculum is advocated because the body of knowledge and the accounting profession are changing so rapidly. Although knowledge requirements will change with time, the core set of competencies identified by the Framework will have long-term value and will support a variety of career opportunities for the future CPA. The competencies are arranged under the following three categories: Functional Competencies, technical competencies most closely aligned with the value contributed by accounting professionals; Personal Competencies, individual attributes and values; and Broad
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Accounting 243: Accounting Research
INSTRUCTOR: Eralda Kanacevic, MBA
Instructions: Exam is due by 10/23/12 @ 11:59pm
Please submit in the drop box under week 4.
Student: Gergana Ruseva-Ormanova
1-What are the skills that are tested on the CPA and what are they called?
The skills tested on the CPA Exam are: researching relevant financial accounting, tax, auditing and attestation literature; communicating business information; analyzing and interpreting business information; rendering judgment based on available business information; and gaining an understanding of key business terms, facts and processes.
2-How AICPA does define these skills?
The Core Competency Framework defines a set of skills-based competencies needed by all students entering the accounting profession, regardless of the career path they choose. The Framework is an online resource (www.aicpa-eca.org) that educators can utilize to develop or reform curricula to support the development of a set of competencies aimed at helping students acquire the knowledge and develop the talents that will lead them to personal success in the accounting profession. The Framework focuses on skills and is not structured around traditional subject/content areas or accounting services. A skills-based curriculum versus a knowledge-based curriculum is advocated because the body of knowledge and the accounting profession are changing so rapidly. Although knowledge requirements will change with time, the core set of competencies identified by the Framework will have long-term value and will support a variety of career opportunities for the future CPA. The competencies are arranged under the following three categories: Functional Competencies, technical competencies most closely aligned with the value contributed by accounting professionals; Personal Competencies, individual attributes and values; and Broad