Deciding to start the journey to become a Certified Public Accountant (CPA) is a significant decision for accounting professionals, and students in the University of Illinois Springfield (UIS) online Master of Business Administration (MBA) with a Concentration in Accounting Data Analytics program are well-positioned for this path. The CPA exam validates the proficiency and expertise required in the accounting profession.
The CPA exam, administered by the American Institute of Certified Public Accountants (AICPA), is a comprehensive assessment traditionally divided into four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). Each section evaluates distinct aspects of accounting knowledge, ensuring a well-rounded understanding of the field.
CPA Exam Requirements
While the UIS program doesn’t mandate students to take the CPA exam, it strategically aligns its curriculum to prepare students with the essential skills for success. To sit for the CPA exam, candidates typically need a bachelor’s degree or higher from an accredited institution, fulfilling specific coursework requirements. UIS’s focus on “accounting, auditing and financial reporting background” aligns seamlessly with these prerequisites, laying a solid foundation for aspiring CPAs.
The 2024 changes in the CPA exam bring a renewed emphasis on critical thinking and analytical skills. Candidates will encounter more task-based simulations challenging them to apply theoretical knowledge to real-world scenarios.
CPA exam updates include the removal of the Business Environment and Concepts (BEC) section. Certain segments of the Financial Accounting and Reporting (FAR) and Regulation (REG) sections were restructured into new components. As the BEC section was the only part that featured a written essay, the essay component is no longer part of the 2024 CPA exam.
With its commitment to deepening knowledge and strengthening strategic thinking, UIS prepares students for the exam.
How to Prepare for the CPA Exam?
Preparing for the CPA exam requires a strategic approach, and the UIS program design gives it proper significance. Creating a study plan is important for effective preparation. Students often set a schedule, setting aside time each day or week for exam review. CPA review courses provide structured content, practice questions and simulated exams to help students familiarize themselves with the exam format.
A Wiley Efficient Learning article highlights various industries where CPA professionals can contribute, ranging from public accounting firms and corporate finance to government agencies and nonprofit organizations. The versatility of a CPA’s skill set opens doors to diverse career paths, amplifying the value of obtaining the certification.
Accounting and Data Analytics
The intersection of accounting and data analytics is the key focal point in this MBA program. As the business field continues to change, integrating data analytics into accounting practices becomes even more crucial. UIS provides students with the skills to navigate this intersection seamlessly, recognizing the growing demand for professionals who can leverage data to enhance financial decision-making and auditing processes.
Indeed reports an average base salary of $96,680 for CPAs, which reflects the expertise and responsibilities associated with the role. The investment in a UIS education pays dividends in the form of increased earning potential, making it a strategic choice for those aiming to excel in accounting.
Prepare for the CPA Exam Online Through the University of Illinois Springfield
Becoming a CPA involves comprehensive preparation and a nuanced understanding of accounting. The UIS online MBA with a Concentration in Accounting Data Analytics program stands out as a strategic choice, aligning its curriculum with CPA exam requirements while preparing students for the industry challenges.
As the role of accountants continues to expand into the area of data analytics, UIS ensures its graduates can thrive in this rewarding field.
Learn more about the UIS online MBA with a Concentration in Accounting Data Analytics program.
