Accounting Organizations

Assignment #3

I have researched five accounting organizations and gathered information about the benefits of becoming a member and the requirements needed to become a member. The first organization I researched is the American Accounting Association which was founded in 1916. Its goal is to promote accounting education, research and practice. They have annual meetings. This year’s meetings will be held in Washington, DC and theme will be “Seeds of Innovation”. Members will congregate to discuss the need for innovation in accounting scholarships. The AAA website enables members to share ideas on how to improve teaching and research in the accounting community. Students are able to become members for thirty dollars a year.

The American Institute of Certified Public Accountants consists of more than 360,000 members. The AICPA was founded in 1887 and it is the primary accounting organization in the United States. The AICPA creates and grades the CPS examination. In addition, they set the ethical standards for accounting professionals. The only requirement to become a member of the AICPA is that all members must complete 120 hours of what is called continuing professional education (CPE). CPE classes are aimed at helping accountants maintain their knowledge and proficiency.

The Institute of Management Accountants was founded in 1919. Their mission is to provide managerial accountants a platform where they can share ideas on research, education, and practice development. They offer two professional certifications; they include the Certified Management Accountant (CMA) and the Certified Financial Manager (CFM). They strongly believe in the importance of ethical professional practices within all business organizations. In addition, they provide their members with education programs that will help them increase their professional knowledge and leadership potential. Students are allowed to become members. The annual