What Should They Teach Professional Accountants?
by AccountingWeb on
Where I live, in order to become a Chartered Accountant (the Canadian equivalent of a CPA), you need the following: Courses Hours Financial accounting 15 (introductory, intermediate and advanced) Cost & management accounting 6 Advanced accounting elective 3 Auditing 9 Taxation 6 Business information systems 3 Finance/financial management 3 Economics 3 Law 3 Total credit hours 51 What do you think? Is the above enough? What skills seem to be lacking in the young accountants work with? Here's my wish list: Communications - how to explain financial information to non financial people, how to present clearly, making a clear case for action, how to organize the lines on a financial statement, how to analyze data so that the analysis leads to a clear course of action. Working With Data - how to select, filter, sort and present data. How to build a spreadsheet model. How to use a report generator. Project Accounting - I don't know why we teach cost accounting but not project accounting. Most of my clients have had some form of project work. Business Ethics - These days, I think that is self-explanatory. If you don't start when you are a student, when will you have time for this subject? Additional Topics Statistics, Interest calculations (discounting, annuities, mortgages) and risk management (including insurance). What would you add?