Wednesday, October 2, 2013
Understanding CPE Credits
Certified
public accountants (CPAs) go through a rigorous training and certification
process to earn the right to practice in their chosen specializations.
Interestingly, the path of learning seemingly never ends for a CPA. Aside from
formal schooling and practical experience, CPAs must undergo continuing
professional education (CPE) courses to retain their license.
In most U.S. states, CPAs need to acquire a minimum number of
CPE credits before they can renew their license. A credit is typically
equivalent to 50 minutes of professional education. Some states require that
CPAs complete 80 hours within two years, while other states require 120 hours
to be completed within a three-year period.
After completing the course, the participant will receive certain
credits based on the number of hours completed. CPE courses may be taken in a
traditional classroom setting, although a growing number of accounting
professionals opt for online courses conducted through live webinars or via
correspondence. Online CPE courses certainly make sense for busy accountants
who need to juggle multiple work tasks and barely have the time nor inclination
to shuttle from work to school on a daily basis.
CPE courses for accountants are available through organizations,
but these classes are often expensive. Some professionals consider online
courses to be more affordable.
Tuesday, October 1, 2013
Getting CPE Credits for CPAs
If you're
a Certified Public Accountant (CPA) and a member of the American Institute of
CPAs or AICPA, you inevitably have to take a continuing professional education
(CPE) program. This will enable you to earn the required credits in order to
continue with your practice. Such a program, as specified by the National
Association of State Boards of Accountancy or NASBA, helps regulate the
accounting profession in each state.
How many
CPE credits do you need to acquire, and how often do you need to take them?
Requirements may vary from state to state, but it's usually around 20 hours
worth of CPE credits per year, with at least 120 hours for a three-year period.
That's around 40 hours of CPA credit per year on the average. Other states
require accountants to take CPE courses on Ethics once every two years.
Most
states do not have approval processes for CPE sponsors but do specify minimum
guidelines in order to consider such sponsors valid. Others require
registration to become Quality Assurance Service (QAS) sponsors, although State
Boards have the final say on the validity of courses for CPE credits. Those who
plan to take such courses must first verify with their State Boards to ensure
that the courses are acceptable and can be credited.
The good
news is that CPE programs can
be taught through interactive online or self-study courses. Whichever kind of
study scheme you choose, be sure to choose a course provider that complies with
state rules and regulations.
Sunday, September 29, 2013
Different Ways to Earn CPE Credits for Accounting
Continuing
professional education (CPE) refers to class work or seminars some
professionals in various fields have to undergo to maintain as well as improve
their qualifications. Educators, lawyers, and especially certified public
accountants (CPAs) typically undergo CPEs during the course of their careers.
CPAs, in particular, need to earn a certain number of CPE credits before they
can renew their licenses.
According
to eHow.com contributor Jessica Kent, the State Board of Accountancy is
responsible for setting the specific guidelines regarding minimum CPE credit
requirements as well as what course formats are acceptable. CPAs can earn CPE
credits in a variety of ways, but usually by attending conferences hosted by
the American Institute of CPAs, or the American Institute of Certified Public
Accountants (AICPA).
Arguably,
the more convenient and cost-effective method is to take online courses that
may sometimes be offered for free or at reasonably priced rates. Online CPE
courses may take the form of study guides, video podcasts, live webinars, and
many more. The best thing about an online learning set up is the fact that you
can learn at your own pace, so there's no need to rearrange your schedule or
brave rush hour traffic simply to make it to class on time.
Friday, September 27, 2013
Thing you Need to Know About CPE Credits
A career as a certified public accountant (CPA) is
arguably very stable since there will always be individuals or companies that
need to get their books in order and file the appropriate tax forms. It takes a
lot of hard work to become a CPA, though, since you have to pass a series of
rigorous tests administered by the American Institute of Certified Public
Accountants. Once you've been certified, you also need to earn continuing
professional education (CPE) credits to maintain your certification.
If you want to renew your CPA license, you need to
earn CPE credits either online or through seminars. There are a certain number
of hours required, as well as specific subjects and methods you need to learn.
However, the requirements vary from state to state so it won't hurt for you to
double check.
Generally speaking, though, many states will
require CPE coursework of 80 hours within a two-year period or 120 hours within
a three-year period. Additionally, some states will require 20 hours of CPE
credits to be earned during each year of the qualifying period. The courses
covered in a typical CPE course are usually specific areas in the field of
accounting. While becoming a CPA sounds like a lot of work, those who persevere
ultimately get to enjoy great career perks and prospects.
Tuesday, September 24, 2013
The Value of Continuing Professional Education
True
professionals know the value of keeping themselves relevant and well-equipped
in an ever-evolving job market. It will never do to rest on one's laurels;
sooner or later, somebody better and more qualified will enter the picture and
render you redundant. If you can't keep up with the latest technologies and
best practices, you might as well kiss your job goodbye.
Luckily, continuing
professional education (CPE) courses can help professionals from various
sectors further hone their skills and remain competitive in their respective
fields. Doctors, lawyers, personal assistants, and even accountants undergo
these specialized refresher courses of sorts so they have something relevant to
offer clients and employers. Certified public accounts (CPAs), for instance, need
to meet minimum CPE coursework requirements to renew their licenses.
Most professionals who are looking to take
CPE courses, however, often express concerns over time and accessibility. This
is particularly true for full-time employees who can barely keep up with their
daily workloads. The good news is that some reputable companies now offer
online CPE courses that allow busy professionals to pursue further studies
without sacrificing time or attendance at work. With convenient CPE courses,
there's simply no excuse to miss a class ever again.
Thursday, September 19, 2013
The Challenges of Being an Accountant
Every
vocation has its share of challenges, though it's safe to say that accounts
have some of the most high-pressure jobs in the world. Some people think that
accounting is merely about balancing assets and liabilities and not much else,
but discipline encompasses much more than that. Accountants who are in charge
of billing patients in health care facilities, for instance, are expected to
provide the exact bill calculations; otherwise, conflict may arise between
health care providers and patients.
One small
misstep typically leads to bigger ones, which is why the best accountants are
sticklers for accuracy. Accountants do need to be creative as far as marketing
and client acquisition are concerned. However, accountants still need to
practice good judgment and abide by standard procedures to ensure the accuracy
and consistency of every business transaction.
Accountants
are no strangers to working under tight deadlines, especially payroll
accountants since who need to complete their tasks within the designated time
to make sure that all employees receive receives their salaries on time. Some
people also think that once an accountant passes the CPA exams, he doesn't have
to worry about other exams anymore. On the contrary, accountants still need to
complete continuing professional education (CPE) courses to keep abreast of the
latest accounting practices and be able to maintain their licenses.
Saturday, September 14, 2013
The Morals of Money: On Accounting Ethics
They
say that money is the root of all evil, but such a maxim can be a
little too general and simplistic at best. However, if there's one
profession that has the potential to wreak considerable economic
havoc when practiced unethically, then that would be accounting.
After all, it only takes a subtle alteration and a little creative
manipulation on the part of a scheming accountant to fool
shareholders and investors.
Companies
need to be transparent with their shareholders, and typically issue
financial statements in order to keep their investors up-to-date.
Naturally, businesses will need accountants and auditors to prepare
such statements. In turn, it is the sworn duty of each accountant to
ensure transparency and accuracy for the benefit of those who require
such records.
To
ensure that everyone is on the same page when it comes to integrity
and transparency, companies can enroll their in-house accountants in
special courses designed to further hone their competence, as well as
strengthen their sense of morals. For convenience, these courses can
be conducted as self study or as group classes, whichever option
works best for these busy individuals. Course participants also get
to learn about the latest best practices that can bring them up to
par with global standards.
Monday, September 9, 2013
Money Talks: A Brief Look at Tax CPE Courses
While
young students often hear that learning is a lifelong process, this
adage can also apply to working professionals who have already spent
many years in their respective trades. For instance, tax advisers
need to undergo continuing
professional education (CPE)
if
they want to be updated on taxation laws, as well as to reinforce the
knowledge they already have. After all, any financial advice they
give can lead anybody to either prosperity or ruin.
CPE
courses that tackle taxes (or taxation in general) cover a wide range
of applications. One such aspect is business taxation, for which tax
advisers are taught the importance of tax credits, filing tax reports
correctly and
on time, managing operational costs, and many others. Of particular
importance are the statutes and provisions of local and federal tax
laws, information that will greatly benefit businesses that operate
in multiple states.
Another
important CPE course deals with employment taxation, which is
arguably the area most people are familiar with. The importance of
paying for Social Security, Medicare, and other taxes are discussed
here; tax advisers can use this knowledge to help both employers and
employees. Aside from tackling the basics of paying taxes, this
course can also teach participants about common mistakes that could
lead people to charges of tax
evasion.
