Aptitude Tests for Accounting
- Accountants work to provide their organization with the vital information regarding ethical practices.Accounting and finances image by MAXFX from Fotolia.com
Accounting, according to InvestorWords, is referred to as the art of communicating financial information about a business to a user who requires the information; such as a manager or the shareholders. The profession is useful for discovering underlying causes of success and failure in a business. However, to become an accountant, interested parties must successfully pass one of the several rigorous examinations to become a licensed by their State Board of Accountancy or a national organization. - Many accounting careers begin with passing the CPA exam, giving the passing accountant the title of certified public accountant. Once certified, the accountant most often works as either an external auditor or in tax. Any accountant filling reports with the Securities and Exchange Commission (SEC) must be a CPA. CPAs, licensed by their state, must pass a national exam. The exam is composed of four separate sections: auditing and attestation, financial accounting and reporting, regulation, and business environment and concepts, according to Accounting Institute Seminars.
- A Certified Management Accountant (CMA) is similar to the CPA, but focus more on business management, rather than auditing or tax. The exam for the CMA is a two-part exam, each section featuring 100 multiple choice questions, as well as two 30 minute essays. Each section features its own curriculum; topics covered include cost management, internal controls, corporate finance, and investment decision, according to the Institute of Management Accountants. While a CPA is not required to earn a CMA, it is beneficial. Lastly, after successfully pursuing the certification, the CMA must agree to continuing education requirements, as well as adhering to ethical standards.
- Although the majority of accountants either work towards tax accreditation or external auditing with such a license as the CPA, internal auditing is also a necessary part of the business world. Helping to maintain the ethical standards of individuals within a business, using a system of checks and balances to divide responsibilities; working to preventing any positions the power to commit fraud. The licensing for Certified Internal Auditors, CIAs, provided by the Institute of Internal Auditors. The exam remains the only globally accepted certification for internal audit, known to be the standard for individuals to demonstrate their competency, according to Northern Illinois University. The exam functions to test the risk management skills, as well as the ability to governance issues. The format features four sections of 125 multiple choice questions each, in the following disciplines: Internal Audit, Conducting an Internal Audit, Business Analysis, and Business Management, according to The Exam Review Store.
