Review of financial statements expanding section

Discussions with instructors of down stream CBA core courses revealed their reliance on specific ACC 221 and ACC 222 subject matter. Finance 335 instructors assume that students understand the basics of TVM, financial statements, and cash forecasts.  Instructors of Marketing 309 and Management 393 assume that students understand revenue/cost analysis (C-V-P model, evaluation of segment or product profitability, and outsourcing and pricing decisions).  Instructors of Management 449 assume that students understand TVM, financial statement analysis, and revenue/cost analysis. 

Certifications expanding section
CPA Certified Public Accountant
  CPAs are qualified accountants who have passed the Uniform Certified Public Accountant Examination and met all other statutory and licensing requirements of a United States state to be certified by that state. CPAs are known by the general public in part for their business consultation, finance and tax expertise." 


1. Obtain 150 credit hours of education. 
2. Pass the Uniform CPA Examination to qualify for CPA certificate and license. 
3. Two years of public accounting experience (varies by state) 

Related Link:
The Uniform CPA Examination   
"One of the world's leading licensing examinations, the CPA Examination serves to protect the public interest by helping to ensure that only qualified individuals become licensed as Certified Public Accountants (CPAs)."
CMA Certified Management Accountant
  The CMA is a professional designation for management accountants and financial managers. Earning the CMA demonstrates a mastery of a comprehensive body of knowledge directly related to operational and strategic management as well as the skills and abilities required to build quality business practices inside organizations. 

1. Bachelor's Degree, in any area, from an accredited college or university. 
2. Score in the 50th percentile or higher on either the GMAT or GRE. 
3. Professional qualification comparable to the CPA, CMA, CFM, etc. 
4. Complete two continuous years of professional experience in management accounting or financial management. 
5. Membership in the Institute of Management Accountants. 
6. Pass the CMA exam. 

Related Link:
Institute of Management Accountants   
"The Institute of Management Accountants is the world's leading organization dedicated to empowering management accounting and finance professionals to drive business performance."
CIA Certified Internal Auditor  
  The Certified Internal Auditor designation is the only globally accepted certification for internal auditors and remains the standard by which individuals demonstrate their competence and professionalism in the internal auditing field. 


1. Bachelor's degree from an accredited college-level institution. 
2. Must exhibit high moral and professional character. 
3. Complete a minimum of 24 months of internal auditing experience or its equivalent. 
4. Pass the CIA exam. 

Related Link:
The Institute of Internal Auditors
"Established in 1941, The Institute of Internal Auditors (IIA) is an international professional association with global headquarters in Altamonte Springs, Fla., United States.  The IIA is the internal audit profession's global voice, recognized authority, acknowledged leader, chief advocate, and principal educator. Members work in internal auditing, risk management, governance, internal control, information technology audit, education, and security."
CFA Chartered Financial Analyst
  A CFA charter is a professional designation offered by the CFA Institute to financial analysts who complete a self-study graduate level program and  work for at least four years in the investment decision making process.  

1. Bachelor's Degree or 4 years of qualified, professional work experience, or combination. 
2. Pass 3 levels of examinations. 
3. Obtain four years of acceptable professional work experience. 
4. Become a regular member of CFA Institute. 
5. Maintain CFA status. 

Related Link:
CFA Institute  (Formerly the Association for Investment Management and Research -AIMR)   
"The CFA Institute is the global, not-for-profit association of investment professionals that awards the CFA and CIPM designations. We promote the highest ethical standards and offer a range of educational opportunities online and around the world."
CFP Certified Financial Planner
  A CFP is a financial planning expert who has been credentialed by the Certified Financial Planner Board of Standards.  To receive the title, education, examination, experience and ethics requirements must be met." 

1. Obtain one of the Education Requirements: 
    a) Complete a CFP Board-Registered Education Program. 
    b) Apply for Challenge Status 
    c) Request a Transcript Review 
2. Bachelor's degree is required (As of Jan '07) 
3. Pass the CFP Certification Exam 
4. Have at least 3 years of qualifying full-time work experience in personal financial planning.
5. Adhere to Code of Ethics and Professional Responsibility and Pass Background Check. 

Related Link:
Certified Financial Planner Board of Standards Inc.   
"The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning."
CFE Certified Fraud Examiner
  Globally preferred by employers, the CFE designation denotes proven expertise in fraud prevention, detection, and deterrence.  Members with the CEF credential experience professional growth and quickly position themselves as leaders in the global anti-fraud community. 

1. Be an Associate Member of the ACFE in good standing. 
2. Bachelor's degree, in any area, or two years of fraud-related professional experience for each year of academic study. 
3. At least two years of professional experience in a field either directly or indirectly related to the detection or deterrence of fraud. 
4. Be of high moral character. 
5. Agree to and abide by the Bylaws and Code of Professional Ethics of ACFE. 
6. Pass the CFE Examination. 

Related Link:
Association of Certified Fraud Examiners  
"The ACFE is the world's premier provider of anti-fraud training and education.  Together with nearly 50,000 members, the ACFE is reducing business fraud world-wide and inspiring public confidence in the integrity and objectivity within the profession."
CGFM Certified Government Financial Manager
  The CGFM is the first certification broad enough to cover the whole field of government financial management - federal, state and local.  It measures a wide range of knowledge and skills that a professional needs to succeed in the federal government financial environment, or to meet the unique challenges faced by state and local government financial managers. 


1. Bachelor's degree with 24 hours of courses in financial management topics. 
2. Two years of professional-level experience in the government financial management field.
3. Pass CGFM Exam. 

Related Link:
Association of Government Accountants   
"The Association of Government Accountants serves government accountability professionals by providing quality education, fostering professional development and certification, and supporting standards and research to advance government accountability."
FCPA Forensic Certified Public Accountant
  The FCPA designation tells the public and the business community that the holder has met certain testing and experience guidelines and is not only a CPA, but has been certified as a forensic accountant.   

1. Must be a licensed Certified Public Accountant. 
2. Take the FCPA exam and pass each section with a score of 70% or above. 
3. Take 20 hours of continuing professional education (CPE) each year to keep membership current. 
**If already a CPA and a CFE (Certified Fraud Examiner), an individual is exempt from taking the certification exam and can automatically receive the FCPA designation. 

Related Link:
Forensic CPA Society   
"The Forensic CPA Society was founded July 15, 2005.  The purpose of the Society is to promote excellence in the forensic accounting profession by the use of the FCPA certification."
CISA Certified Information Systems Auditor
  CISA is ISACA's cornerstone certification.  Since 1978, the CISA exam has measured excellence in IS auditing, control and security.  More than 60,000 professionals have earned the CISA certification, recognized globally, since its inception. 
1. Successful completion of the CISA Examination. 
2. Complete a minimum of five years work of professional information systems auditing, control, or security work. 
3. Comply with the Code of Professional Ethics. 

Related Link:
Information Systems Audit and Control Association   
"ISACA has become a pace-setting global organization for information governance, control, security and audit professionals.  Its IS auditing and IS control standards are followed by practitioners worldwide.  Its research pinpoints professional issues challenging its constituents."