Why a Professional Certification

Transcription

1 Why a Professional Certification Dr. Roberto Castaneda, CPA Walden Program Director Dr. Renee Williams, CPA Core Accounting Faculty

2 Presenters Dr. Robert Castaneda, CPA, CGMA Dr. Renee Williams, CPA 2

3 Drucker on Knowledge Worker Drucker's final contribution in the field of knowledge worker productivity is his insistence that knowledge workers need to learn to manage themselves. He quite simply points out that since the knowledge worker owns the assets (the knowledge) then they need to keep it up to date and use it to deliver the greatest contribution. He points out that their careers will outlast most businesses, and so they cannot and should not rely on their employers for this development. Knowledge workers have high degrees of expertise, education, or experience, and the primary purpose of their jobs involves the creation, distribution or application of knowledge. 3

4 What is a certification Professional certification is a process in which a person proves that he or she has the knowledge, experience, and skills to perform a specific job. The proof comes in the form of a certificate earned by passing an exam that is accredited by an organization or association that monitors and upholds prescribed standards for the particular industry involved. A wide variety of industries and careers offer professional certification, from highly technical jobs and human services of all kinds to jobs in the arts, including ballroom dancing. In each case, the certificate assures employers, customers, students, and the public that the certificate holder is competent and professional. 4

5 Why do I need a professional certification? The growth of certifications is due to the changing market demands. Certifications are portable and do not depend on any one company s definition. Certifications provide a third-party endorsement of an individuals knowledge. Certifications can stand out from other individuals for the same job. 5

6 Certifications CPA Certified Public Accountant CMA Certified Management Accountant CIA Certified Internal Auditor CFE Certified Fraud Examiner CFP Certified Financial Planner CGMA Chartered Global Management Accountant Other Certifications not Accounting Oriented- -Actuarial -Project Management -Six Sigma 6

7 Which certifications are pursued by accounting students? (student s were asked to choose as many certifications as they felt they would pursue). CERTIFICATION PERCENTAGE Certified Public Accountant (CPA) 75.5% Certified Management Accountant (CMA) 12.2% Certified Fraud Examiner (CFE) 12.2% Certified Internal Auditor (CIA) 8.2% Certified Government Financial Manager (CGFM) 2.0% None 24.5% *Warrick, C.S., Daniels, B., Scott, C., Accounting students perceptions on employment opportunities; Research in Higher Education Journal-10458,

8 So what s in it for you? Professional organization certifications provides value to you- Confidence in our abilities Maybe a requirement for employment or practice Can make you more valuable to potential employers Competitive advantage over candidates without certificates Process that demonstrates your knowledge, experience and skills to perform a specific job 8

9 So what s in it for your employer? Professional organization certifications s provides value to your potential employer that- You may be well trained in your profession You are self-motivated to improve yourself You can provide a level of credibility at your work You may provide a higher level of productivity You may be required to have CPE which leads to current knowledge 9

10 Positions in accounting today that use these certification- Public Accountant Internal Auditor Management Accountants Tax accountant (CAO) Chief Accounting officer Controller Financial Consultant Government Accountant Other known jobs for accountants- Finance Analyst Banker Claims adjuster Loan Officer Financial Planner Manager of Finance Chief Financial Officer Actuary Investment Bankers Consultant 10

11 Where Can I go to find out more on professional certifications Many professional organizations have a monthly professional journal that you can subscribe Professional certifications may have practice exam questions by viewing their website Your local bookstore typically will have some preparation exam books I would recommend taking a professional exam review course that will help prepare you for taking these types of exams Most organizations have student memberships that you can join to learn more 11

12 WALDEN MS ACCOUNTING COURSES MS Accounting (Required courses) MS Accounting & Management (Required courses) CPA aicpa.org/yell ow/ypascpa. htm CMA CIA iia.org/certificat ion/certifiedinternalauditor/ CFE Acct6100 Effective Communication for Accounting Acct 6110 Legal & Ethical Issues in Accounting Acct 6120 Managerial Accounting for Organizational Performance Acct 6130 Financial Management Tools for Decision Making Acct 6140 Current Trends In Accounting Standards Acct 6600 Managing Operational and Financial Business Risk Acct 6610 Managing Regulatory Compliance Acct 6620 Accounting Theory & Application Acct 6630 Tax Analysis & Decision Making Acct 6640 Solving CPA Exam Problems Acct 6660 International Perspectives in Accounting Acct 6670 Not for Profit & Government Accounting Acct 6650 Forensic & Advanced Auditing Topics ACCT 6665 Initiating and Managing Change Acct 6621 Global Information Systems Development ACCT 6675 Critical Thinking for Effective Management ACCT 6680 Leadership in a Global Landscape ACCT 6685 Creating Sustainable Solutions Through Systems Thinking ACCT 6690 Principles of Project Management ACCT 6695 Leading Strategic Initiatives for Growth and New Value ACCT 6665 Initiating and Managing Change ACCT 6621 Global Information Systems Development 12

13 Weblinks with daily or monthly briefings on what is occurring in business today Journal of Accountancy-Monthly highlights of accounting issues Meisrow Financial Economist (click on Newsletter) Smartbrief -Daily Business Briefings CFO Monthly briefing on what s important to CFO s Accounting Today Daily accounting briefings 13

14 Common Accounting Certifications Certification Certified Public Accountant Website Certified Management Accountant Certified Internal Auditor Certification/Pages/CIA-Certification.aspx Certified Fraud Examiner Certified Financial Planner Chartered Global Management Accountant Other Certifications Non-Accounting Project Management Actuary Six-Sigma 14

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