Sunday, 5 April 2015

Top 25 Scholarships for Accounting Students

When looking for scholarships, it pays to take a measured approach to the situation. There are thousands of them available, and a considerable number of them are geared specifically toward accounting majors. By zeroing in on accounting scholarships, you can increase your chances of getting much-needed financial assistance while pursuing a higher education. Pinpointing accounting scholarships can be tricky, but we’ve done a lot of the legwork for you by tracking down the 25 most popular options for undergraduate and graduate students.
1. The NSA Scholarship Foundation
Several thousands of dollars are awarded to talented accounting students by the NSA Scholarship Foundation every year. In 2014, the Foundation awarded $34,450 to 33 deserving individuals. In order to qualify, you must be working on a degree program at a two- or four-year university or college. You must also currently have a B average or higher. Eligibility is determined based on things like leadership abilities, academic achievement and financial need. With around 35 scholarships awarded per year, this is a worthwhile option to consider.
2. Surety Industry Scholarship Program for Minority Students
Students who are awarded this scholarship receive up to $2,500, which can go a really long way toward paying for a higher education. This scholarship has been available since 2003, and it is awarded by the Surety Foundation. In order to qualify for the Surety Industry Scholarship Program for Minority Students, you must be a minority student who has declared a major in insurance, risk management, accounting, business or finance. You must also have at least a 3.0 GPA and have completed at least 30 credit hours with at least six relating to your major.
3. KSPCA High School Merit Scholarships
If you live in Kansas and plan to attend a Kansas college or university, you should consider applying for KSPCA High School Merit Scholarships. Several scholarships are awarded each year. In addition to 15 $500 scholarships, one scholarship in each of the following amounts is also awarded: $600, $700, $800, $900 and $1,300. Financial need is not considered when assessing eligibility. These scholarships are intended for high school seniors with high scores on the ACT or SAT. You must be planning to attend a Kansas college or university and must be planning to major in accounting.
4. Frank L. Greathouse Government Accounting Scholarship
Every year, one or more student in the United States is awarded this $5,000 scholarship. You may apply for it whether you are an undergrad or a graduate student. In either case, you must be attending school full time, and you must be planning to go into a career in finance with the state or local government. In addition to that, you need a recommendation from the chair of your accounting program or from your academic advisor.
5. TACTYC/AICPA Scholarship
The TACTYC, or Teachers of Accounting at Two-Year Colleges, awards scholarships per year to students who are pursuing degrees in accounting. The seven scholarships are for $1,000 each. Five of them are awarded to two-year graduating college students who want to move on to pursue their bachelor’s degrees in accounting. Another two scholarships are awarded to students who are currently pursuing two-year accounting-based degrees. Eligibility is based on factors like recommendations, total credit hours and grade point averages, and you must be planning to pursue a career in accounting.
6. AICPA John L. Carey Scholarship
If you’ve already earned a liberal arts degree or business degree but would like to go to graduate school for accounting or for a CPA license, this may be the scholarship for you. Every year, up to 10 scholarships for up to $5,000 each are awarded. Eligibility for the AICPA John L. Carey Scholarship is based on things like future career plans, leadership capabilities and academic achievement.
7. Laurels Fund Scholarships
Women who are pursuing advanced degrees in accounting should consider applying for Laurels Fund Scholarships. These scholarships have been awarded every year since 1978. You may be able to receive a scholarship for up to $5,000. You must be a Ph.D. student, and you need to have completed your comprehensive examinations. Eligibility is determined based on financial need, academic achievement, volunteerism and other factors. Many people apply for these scholarships. As long as you meet the basic eligibility requirements, though, there is no reason not to apply.
8. NSA Scholarship – The Louis and Fannie Sager Memorial Scholarship
If you didn’t graduate from a public school in the state of Virginia and don’t plan on attending high school or college in that state, you can skip right past this accounting scholarship. However, if you meet those initial criteria, this is a great option to pursue. In addition to planning to attend a college or university in the Old Dominion State, you must be planning to major in accounting. This scholarship ranges from $500 to $1,000, and only one is awarded per year.
9. RVDA Education Foundation Scholarship Program
Who couldn’t use an extra $2,500 toward his or her higher education? If you are planning to pursue a career in the RV, or recreational vehicle, industry, this is a scholarship that you need to consider. It is made possible by the Newt and Joanne Kindlund family and is intended for rising sophomores, juniors and seniors. College undergrads are also welcome to apply. You should either be majoring or plan on majoring in accounting, finance or some other business-related area of study.
10. Herman J. Neal Scholarship
Up to three of these prestigious scholarships, which are worth up to $4,000 each, are awarded every year. As far as eligibility is concerned, you must African American and should be pursuing a degree in accounting or licensure as a CPA. The total amount of the scholarship varies, but portions may be used to pay for things like tuition, fees, books and materials. You must have at least two years of post-secondary education completed and be attending a college or university in Illinois. A GPA of at least 3.0 is also required.
11. COAG Scholarship
As long as you are a high school senior in the state of Georgia who plans to attend an accredited Georgia college or university while pursuing a degree in accounting, finance, pre-law, business, political science, government or law enforcement, you are welcome to apply for this scholarship. You must be able to produce a letter of acceptance or enrollment letter from the school that you will be attending, and you must also complete a 1,000-word essay.
12. Texas Fifth Year Accounting Student Scholarship Program
The state of Texas offers this scholarship as a way of attracting talented and qualified individuals to pursue accounting careers with the government. In order to be eligible, you must attend a public or private school in the state. You can’t have taken the CPA exam yet but must be planning to do so in the future. Furthermore, you must be making good academic progress and be able to prove it. Financial need is also taken into consideration for this scholarship, which can be worth up to $3,000.
13. Catching the Dream MESBEC Program
In an effort to encourage the employment of Native Americans in careers in the fields of mathematics, science, engineering, computers, business and education, the Catch the Dream scholarship program was developed to provide financial assistance to qualifying individuals. If you are Native American and attend a school that is accredited on the state, federal or tribal level, you should consider applying for this scholarship. It has been awarded since 1986 and has helped countless Native Americans to afford paying for higher educations.
14. Society of Hispanic Professional Engineers or SHPE Scholarships
Since its inception, this scholarship has awarded more than $2 million to qualifying individuals. It is awarded by an organization called Advancing Hispanic Excellence in Technology, Engineering, Math and Science, or AHETEMS. Several scholarships are available through this program, and you may apply for as many of them for which you are eligible. Scholarship amounts range from $1,000 to $5,000. You must be a registered, full-time student pursuing a degree in math, science, technology or engineering, and you must have a 3.0 or higher GPA.
15. ABA Diversity Scholarship
Although the eligibility requirements for this scholarship are a little more specific, this is a worthwhile option for some accounting majors to consider. That’s certainly the case if you are pursuing a career in travel, tourism or transportation. You must be in your first year of college and need to have declared a relevant major. Your GPA must be 3.0 or higher. Factors like academic merit, leadership capabilities, personal character and financial need are taken into consideration.
16. American Society of Women Accountants Scholarship
Geographically speaking, you must be attending a two- or four-year college or university in southwest Missouri in order to qualify for this scholarship. If that’s the case, though, you definitely need to apply for it. You may also apply if you are pursuing an advanced degree. As a part of the application process, you must write a letter explaining why you believe you qualify and stating your career goals. Your grades will be verified by the American Society of Women Accountants as well.
17. ALPFA Scholarship Program
The ALPFA, or Association of Latino Professionals in Finance and Accounting, awards this scholarship on an annual basis. It is available to students of Hispanic heritage who are pursuing careers in finance, accounting and related fields. You must be enrolled as a full-time student in a degree-seeking program that is related to one of those fields. In addition to being a sophomore, junior or senior, you must have a GPA of 3.0 or higher.
18. Executive Women International Scholarship Program
The Executive Women International Scholarship Program or EWISP, is available to high school seniors. There is a process involved in receiving a scholarship through this program, which awards more than $200,000 per year, but it is well worth it for those who may be eligible. Individual scholarships of up to $10,000 are awarded, and students must be nominated by their schools to compete. If you are selected to compete, you will do so on the chapter level. Upon passing through that level, you may compete on the corporate level. Things like extra-curricular activities, leadership abilities, academic achievement and citizenship are all taken into consideration.
19. Fukuhaga Scholarship Foundation Scholarship
If you are a resident of Hawaii and plan to pursue a degree in business administration or another business-related field – including accounting – you should consider applying for one of these four-year scholarships. If you are awarded one, you may receive up to $4,000 per year for a total of up to $16,000 toward your studies. Only people who have just enrolled in college are eligible, and 40 to 50 students are awarded scholarships through this program per year.
20. HSF/Marathon Oil Corporation Scholarship Program
This is one of the most valuable scholarships out there, and it can be worth up to $15,000 per year. You may also receive a paid internship through this program as well. African Americans, Hispanic Americans, Asian Pacific Islander Americans, American Indians and Alaskan Native Americans are invited to apply. You must be a sophomore majoring in accounting, engineering or a related field, and you must have a GPA of 3.0 or higher.
21. Pennsylvania Society of Public Accountants Scholarships
The Pennsylvania Society of Public Accountants, or PSPA, awards three scholarships per year to accounting majors. One scholarship is worth $2,000, and two others are worth $1,000 each. You must be an undergraduate student with at least 60 credit hours to be eligible, and your GPA must be 3.0 or higher. Things like financial need, extra-curricular activities, academic achievement and leadership abilities are all taken into consideration by the PSPA when awarding these scholarships.
22. A.A. and Hattie Mae Bush Accounting Scholarship
For accounting majors who live in the 26 northernmost counties of the Texas Panhandle, this is a worthwhile scholarship to consider. You must be a graduating high school senior or a current college or university student to apply, and you must be planning to attend West Texas A&M University, Amarillo College or Texas Tech University. A minimum GPA of 2.5 is required. The total amount is $1,000, and it is renewable every year pending an approval process.
23. TKE Educational Foundation W. Allan Herzog Scholarship
You have to be an active member of the Tau Kappa Epsilon fraternity to be considered for this scholarship. Undergraduate members of its Nu chapter may be eligible for the W. Allan Herzog Scholarship, which is awarded every year. You must be a full-time student with a GPA of at least 2.75. You must also be pursuing a degree in accounting, finance or economics. Furthermore, you must have at least one full year of undergraduate study left to complete.
24. Nellie Martin Carman Scholarship Fund
As with many accounting scholarships, you must come from a specific geographic region to be eligible for the Nellie Martin Carman Scholarship. If you are graduating from a high school in Snohomish, King or Pierce County in Washington State and plan to attend a college or university in your home state as well, you may qualify. You must be nominated by your high school in order to apply. 30 scholarships are awarded per year, and the maximum amount is $2,000. However, it is renewable for up to four years.
25. Equilar Scholars Program
This scholarship is specific to students who attend the University of California at Davis. In order to qualify, you must be majoring in statistics, finance, business, economics or a related field of study, so accounting counts as well. Ethnicity is not taken into consideration for this scholarship, but incoming freshmen must have a GPA of 3.5 or higher, and sophomores, juniors and seniors must have a GPA of 3.0 or higher. You must be a resident of northern California as well, and financial need is taken into consideration.
After going through the list, you should be able to find at least a handful for which you may qualify. Follow the links to learn more about them so that you know when to apply and what you need in order to do so. For a small amount of effort, you may be awarded with scholarships that help to cover a significant portion of your higher education costs while pursuing your accounting degree.

Top 10 Financial Tools for Students

College should be a time to expand you mind: socially, academically, and professionally. Too often, however, lack of life experience catches up with us in our college years. Particularly in a time of skyrocketing education costs, and lower parental support through college, you’ve got to be careful in your first years on your own. With a little thought, keeping your finances in good standing isn’t hard — it just takes some practice and the right tools.
Because just a little help can go a long way in learning to manage your finances, and the younger you start the process, the better. We’ve been on the lookout for the best financial tools out there. And don’t worry, it’s easier than the old days; there’s an app for that.

10.Peer-to-Peer Payment System

10. P2P_Payment
This happens all the time in college. You’re out late, or early, or at some random place that only accepts cash. Midnight gyros start to add up. Make sure your friends repay you with peer-to-peer payment systems. While there are a number of ways to do this, Venmo is one of the only free options, and options like Dwolla charge small fees per transaction. Paypal is free with bank accounts, and Share-A-Bill is free for iPhone after you buy the app for $3.99. Regardless of what you choose, tell your friends about them in case someone doesn’t have cash, or even if you just have to split a bill.
P2P payments are taking off everywhere, and with options like Square,WePay, and GoPayment are even good options for starting your own small businesses. Last year over $1 trillion was paid on P2P systems. They’re accepted by all types of people, and a great way to take care of your finances.

9.Budgeting App

9.Budgetting App
With everything else on your mind, it can be hard to keep track of how much per day, week, or month you can spend. Budgeting used to involve tracking expenditures, saving receipts, and prioritizing. These days you can link your accounts, enter priorities periodically, and just check the app when making purchases. Many budgeting apps tell you how much you have saved towards certain goals, and how much you can spend on any given day. Other helpful tools include text notification when you go over your planned amount, and the ability to see trends in spending over time.
The oldest and one of the most popular options is Mint an app that breaks down spending into easy to follow categories, and downloads balances from your bank accounts, credit cards and investments. Other options include Check,Manilla which focuses more on bills, and Moneydance which also works on OS X.

8. Find the Right Bank

8.The Right Bank
Banks make big bucks on students new to taking care of their own finances. Especially when you don’t have many funds in your account, it’s important to learn about the fees your bank might charge. Try to avoid banking arrangements that charge monthly maintenance, ATM, or inordinate overdraft fees. As many students move away, you also want to make sure your bank is accessible (at home and school, preferable). Online banking tools are also a good way to manage your finances, and are only provided by some banks. As ranked by USnews, Bank of America is the best bank for students, though there are a variety of options depending on your location and specific needs.

7. Check Out Student Loan Counseling, Even If Just Once!

7.Student Loan Counseling
Many students make the mistake of never thinking about their student loans until they’re out of school. Surprise! Many of your loans were accumulating interest while you studied. And the first month’s payment is usually due even if you do end up changing repayment plans. There are tons of ways to manage student loans, from paying off only interest at first, to changing the number of years in which the loan is due, to taking on interest payments while you’re still in school so the loan’s principal doesn’t grow. You can take advantage of these options early, and if you need to, it’s always easy to change options farther down the road.
Some tips: if your parents have been handling your loans for you, get involved! Your loans will probably be around for a while, so it’s better to know now what’s going on and start planning. Also, don’t be worried.
There are a number of options when it comes to dealing with student loans, and almost everyone has them. The annual contribution to college costs from parents is down to 27% (from a high of 36% 4 years ago), and unless you get a sweet deal on financial aid, you’ll probably have to borrow. There are a number of student loan counseling options, with the Financial Awareness Counseling Tool by the Department of Education as a tried and true tool. Generally, customer service representatives from the companies holding your loans are helpful as well. Check it out!

6. Buy Stuff Cheap

6. Cheap Stuff
If you’re in college, this is why you can’t have nice things. Well, you can have nice things, but just don’t spend a lot of them. Chances are the new furniture at the frat house won’t last long, and with the current cost of just attending school, you probably should be happy to save some money where you can. Good thing college towns are filled with young folks, buying, selling, and getting rid of their stuff. Check out vintage clothing stores, sales of old furniture by your University’s departments, and craigslist. Check out platforms like BigWords for buying textbooks (and selling them back when you’re done). Also, use digital textbooks or just rent them where possible. Many college towns are also filled with student discounts. Even if the discount isn’t listed, just ask and you’ll often be surprised.

5. Credit Cards

5.Credit card
In college, credit cards can be stepping stones to early established credit, or sources of long-standing trouble. Creditors know they can profit on unwitting and inexperienced students, and heavily target them with credit card offers. While there are some legitimate student credit cards, there are also high interest credit cards that target those with new credit, and cash lines with even higher interest rates. Ask friends and family members if they have any suggestions for cards that have worked for them. Look for cards without extra fees, such as annual fees, and a grace period for finance charges. Look for cards with additional perks such as cash back, frequent flier miles, or discounts on items you purchase regularly.
Once you have a credit card, try and pay it off fully whenever you can. If you must keep a balance on the card, utilizing less than 30% of your total available credit minimizes the impact on your credit. 35% of your credit score is based on your payment history, and 30% is based on loan and credit card debt, so taking care of your credit card is a good portion of at least 65% of your credit score.

4. Know the Difference Between Soft and Hard Credit Checks

Something that many college students don’t know is that there are two types of credit checks, and that it’s important to regulate which type you’re receiving.
Hard credit checks occur when applying for auto, student, business, and personal loans. They also occur with mortgages, and sometimes when applying for credit cards, opening a checking or savings account, and starting TV, internet, and cell phone contracts.
Hard credit checks lower your credit score by several points and remain on your credit report for 2 years so as to discourage consumers from applying for too much credit at once.
Soft credit checks occur when you check your own credit, when you receive pre-approved credit offers, and at times when applying to rent an apartment, verify your identity, and when starting a TV, internet, or bank account. Due to many applications being either hard or soft credit checks (depending the entity whose checking’s preference), it’s always best to ask if a credit check will be hard or soft. If you don’t have great credit, or don’t have credit period, try to avoid hard credit checks when possible, and always try to avoid multiple hard credit checks in a row.
If you’re curious as to what your credit report looks like, and would like to perform a soft credit check on yourself, try services like Credit Karma. After receiving a credit report that you think is mistaken, services to dispute your credit report are also available online. Regardless, it’s good to keep track of your credit even if you aren’t making many big financial moves while in school.

3. Find an Internship

If you’re currently a college student, this one’s for financial advice for the present and future. With a little bit of looking, you can probably find an internship that’s paid (directly helping your finances), and when you’re just starting out, really any work experience is good (at helping you get a job in the future).
Good internship opportunities are built around teaching the intern, and often include the teaching of specific skills the intern wants to learn. Ask to help out with an accounting project, or just ask some questions to those around you. There’s no one way to learn from an internship you’re taking part in.
If you don’t know where to start your internship search, head to your school’s career services office. If you want to search online, check out sites like,,, or Or just ask someone you know who works in a field you’re interested in. There are tons of places that could use an extra pair of hands even if they haven’t previously had a lot of interns.

2. Apply for External Scholarships

Most students apply for financial aid for college, and a good number apply for scholarships through parents workplaces, or through organizations in the community. Few students, however, take full advantage of the number of scholarships that are available online. When you’re writing personal statements, and filling out a lot of forms with the college application process anyway, why not repurpose some of your work to see if you qualify for more money?
If you’re literary, there are tons of yearly scholarships based on writing a response essay to a book. For artsy kids, a number of scholarships hold contests for everything from haiku’s, to Youtube videos, to paintings. If you’re just plain smart, there are tons of achievement-based scholarships. Two of the largest databases of scholarships are at and These are hardly exhaustive, but as notes, you probably qualify for at least dozens (if not hundreds) of scholarships.

1.Have an On-Campus Job

1.Work Study
While you can always just hold down a normal part-time job through college (which isn’t a bad idea), on-campus jobs and work studies are often a bit better suited for students. From student post office workers, to writing tutors, to attendants for student unions, you’ve probably seen those great looking gigs where you can spend 3/4th of your time at work doing homework.
While you may wonder why we’ve chosen an on-campus job as our top financial “tool” on the list, suffice it to say it embodies what your experience with finances should be like in college. Yes, a job helps financially, but it should also be geared towards complementing your studies. It should be flexible, and keep you on campus where you can really get the most out of your college experience.
If you’re interested, there are often options to apply for work study jobs as part of financial aid packages, or you can contact HR or department heads at your university. For a list of good on-campus jobs, check out Peterson’s college bound blog here.

50 Best Accounting Blogs of 2014

In’s overview of their hot jobs for 2014, Accounting roles (including Auditors) ranked number 6 of 8, with an expected growth rate of 17%.[1]. So it’s no surprise that there are several hundred blogs online covering accounting, taxes and topics in-between. As a handy resource, here are 50 of the best such blogs.

Recommended Online Accounting Degree Programs
  1. Associate’s in Accounting – Colorado Technical University
  2. Bachelor’s in Accounting – Kaplan University
  3. Master’s in Accounting – Walden University
Methodology for selection:
  • Primarily American market-related blogs.
  • Is actually a blog, not a Web site masquerading as a blog.
  • Is an accounting or accounting-related blog.
  • Recency: must have had a post in the past six months, at time of writing.
  • A combination of personal selection and scientific ranking.
  • No popup ads and does not require being a member of some organization to read.
  • Target readers are either accountants or those who can benefit from relevant advice.

General Accounting, Financial Reporting, Tax-related

Profit and Non-Profit Businesses
  • The Belfint Nonprofit Ledger: Topics on taxes and reporting for non-profit organizations.
  • Reed Tinsley’s Blog: Tips and advice from a CPA for the healthcare industry, with emphasis on physician practices.
  • Dental CPAs Blog: Tips and advice from a team of CPAs for the dental practitioners.
  • Homeschool CPA: A CPA and former homeschooling mom gives tips and advice to nonprofit homeschool organizations.
  • Farm CPA Today: Accounting, businesss and related advice for farmers.
  • Ministry CPA: Accounting and business advice for ministers and others running Christian ministries.
  • The Ministry Blog: A multi-author blog on accounting, reporting and business advice for churches and ministries.

Forensic Accounting, Fraud Finding
  • The Fraud Files: Coverage of fraud-related topics by a forensic accountant, fraud investigator and author Tracy Coenen.
  • White Collar Fraud: A fraud perspective — including accounting irregularities — from a former CPA and convicted felon.
  • It’s Taxing – Bond Beebe: Tips and advice on forensic accounting procedures for small businesses, including the use of social media and issues around electronic data collection.

Professor/ Student/ Teaching/ Studying
  • Fraudbytes: A blog on fraud and corporate governance by Aaron Zimbelman (PhD student, accounting) and Mark Zimbelman (accounting professor).
  • 21st Century Taxation: A tax reform blog by a professor who teaches about tax accounting, tax policy and related topics.
  • Joe Hoyle – Teaching Financial Accounting: Covers the teaching and learning aspects of accounting topics, by veteran financial accounting professor Joe Hoyle.
  • MAAW’s Blog: Tidbits about accounting, management and related topics by a professor emeritus.
  • NJSCPA Exam Cram Blog: Tips on preparing for the CPA exam by multiple bloggers from the NJSCPA (New Jersey Society of Certified Public Accountants).

Accounting Association Blogs
  • Betsy’s Pretty Good Blog: A blog for accountants by the president of the MNCPA (Minnesota Society of Certified Public Accountants).
  • AICPA Insights: A blog for accountants from the AICPA (American Institute of CPAs).
  • CPA Success: Career success tips and advice for CPAs, from the MACPA (Maryland Association of CPAs).
  • CPA Now: Tips and advice for CPAs from the PICPA (Pennsylvania Institute of Certified Public Accountants).
  • ASCPA Blog: Tips and advice for CPAs from the ASCPA (Arizona Society of Certified Public Accountants).
  • I Was Just Thinkin’: Tips and advice for CPAs from the INCPAS (Indiana CPA Society).
  • TSCPA Federal Tax Policy Blog: A blog from the TSCPA (Texas Society of CPAs), with a focus on tax legislation and regulation.
  • The Sharblog: Another TSCPA-related blog, from the CEO, with thoughts on accounting, the IRS and other topics.
  • National Society of Accountants: NSA Blog: Perspectives on accounting, tax prep, IRS and more, from the other NSA (National Society of Accountants).
  • NYSSCPA Blog: Views on accounting and related topics from the NYSSCPA (New York State Society of Certified Public Accountants.
  • CPA Cafe | Where Ideas Brew: Writings on accounting, taxes, IRS and other topics from the VSCPA (Virginia Society of Certified Public Accountants).

  • Going Concern: A broad accounting-related blog who is Managing Editor is the writer of the Jr. Deputy Accountant blog. Also covers student topics and the CPA exame.
  • Jr. Deputy Accountant: An accounting blog interpreting what the Fed says, written by a Washington, D.C., resident whose disclaimer says “I’m not a junior nor a deputy nor an accountant”. Warning: NSFW language.
  • re: The Auditors: A broad accounting blog with an emphasis on the Big 4 accounting firms, written by writer/ speaker / consultant Francine McKenna.
  • re: Balance: A blog with indepth articles on the state of large accounting firms.
  • CPA Technology Blog: Covers the technology side of the accounting profession.
  • Accounting And Finance Blog | Accounting Principals: A broad look at accounting careers, including how to use social media, monthly job reports, and more.
  • Accountant Jokes and Fun: Who says accountants are not fun? Here’s a whole blog full of accounting and tax jokes.
  • Success Starts Here: A blog about the careers side of public accounting.
  • iPad CPA: Not frequently updated but has a focus on iPad apps for the accounting profession.
  • Accountant By Day: Musings on accounting, personal finance and every day life by an auditor and tax accountant who formerly blogged as Accounting Elf while still an accounting student.

Accounting Certification

There are several different accounting certifications. Each of them requires the passing of an exam for their specific focus. It is common for an accountant to hold more than one certification, and some accounting jobs have duties that overlap between skills in two or more certified areas.

It is important to understand that each state has different requirements for some certifications. It is important to research your state’s requirements to ensure you understand what will be expected of you and what type of work you will be able to take once certified.

Certified Public Accountant

The CPA certification is the most common certification in the accounting world. It is required by almost any accounting firm or employer regardless of other certifications held. You should plan to get your CPA certification regardless of what other certifications you are hoping to achieve.

Certified Management Accountant

The CMA certification designates you as a professional in the areas of cost management, internal control auditing, decision analysis and forecasting. CMAs are often responsible for choosing and maintaining accounting information systems. They are also responsible for analyzing reports generated by the system.

Certified Financial Manager

This certification is generally held by those who work with the stock market, treasurers for companies, investment planners and risk analysts, and finance educators. Most jobs for CFMs are held in the corporate world and are often a certification that comes after the general CMA certification.

Certified Internal Auditor

The CIA certification is required for those who wish to do external auditing. This job requires the auditing of corporate or other public businesses. It is the CIAs job to make sure that company finances are properly recorded and reported.

Certified Fraud Examiner

Fraud accountants investigate suspected fraud. They are responsible for auditing and analyzing reports in order to determine if proper reporting has been done, and all money is accounted for. They work with businesses and corporations to ensure laws are followed.

Enrolled Agent

EAs are licensed by the federal government. They have permission to appear in place of a client in matters of taxation. They deal directly with the IRS during matters relating to either personal tax or business tax audits. They also advise and prepare taxes for both personal and business taxes. An EA is the only authorized person who can represent the individual or business who is being audited.

Certified Government Financial Manager

CGFMs work in the federal, state and local government sectors. They understand the laws and special government financial needs. Many CGFMs are responsible for advising, preparing taxes, helping with budgets, and balancing financial statements for government spending and taxes collected. This certification is difficult to obtain. Acquiring this certification designates you as a leader in your field and someone who understands the unique financial needs of the government on all levels.

Certified Financial Planner

CFPs are responsible for advising clients in matters of financial planning. They are able to look at an individual financial position and make a plan for expanding personal assets through investments and financial planning. They also advise their clients on tax laws and help them maximize their personal assets in a way that benefits their future.

Friday, 21 November 2014

Give your mind some clarity

“I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.” 
-- Warren Buffett

Never forget the business basics

“Price is what you pay. Value is what you get.” 
-- Warren Buffett

Know what you're getting into, before you get into it

"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."

Warren Buffett