Certified Professional Accountants or CPAs are held up to certain standards to ensure that they are providing high quality services to the general public as well as their clients. To maintain their licensure and continue practicing, CPAs must periodically complete continuing professional education (CPE) credits.
Working full-time can make it difficult to enroll in a CPE course at a recognized institute. For this reason, self-study CPE courses are increasingly becoming a popular option.
The Importance of CPE
The rules, regulations as well as requirements of CPE are set by the state boards of accountancy, professional organizations, and membership associations.
CPE credits are not only required to maintain licensure, they also help to keep CPAs up to date with the latest trends in the industry. They ensure specific standards generally accepted by professional accounting and auditing agencies.
CPAs can benefit greatly from self-study CPE courses.
The Benefits of CPA CPE self-study
As a CPA, your license will have to be renewed periodically as per the requirements set by your state. In order to have your license renewed, you will need to complete certain continuing professional education credits. Today, many CPE courses can be completed through self-study.
Here are some of the benefits of self-studying for your CPE credits:
-
Flexibility–as a working professional, getting away from work to enroll in a course can be difficult. Self-study CPEs can be completed on your own time without having to compromise on work obligations.
-
Learn remotely–with a self-study CPE course, you can study anywhere. Take your course materials on the go and watch lectures, read materials, or complete assignments irrespective of where you are.
-
Set your own schedule and pace– setting aside large chunks of time for your CPE course can be difficult. With a self-study course, you can pace yourself in a way which suits you best.
Choosing a self-study CPE course that is right for you
There are a number of different types of CPAs. These include auditors, tax professionals, financial advisors, forensic accountants, public accountants, and consultants. The types of CPE courses you will need to enroll in to maintain your licensure will depend on which area you specialize in. Remember that CPEs are intended to broaden your knowledge and skills in your field and therefore must be chosen according to the area you work in.
Here are a few examples of self-study CPE courses you could enroll in according to your specialization. The following list of courses is not exhaustive; rather it is intended to illustrate a few of the available courses you may choose from.
Auditors
Auditors are responsible for keeping public records organized and ensuring that their clients are up-to date with all of their tax obligations.
The self-study CPE courses which could be useful include:
-
Internal Controls & Fraud Detection – this program is concerned with all of the internal control related services which must be in place to prevent and detect fraud. It will outline what the client’ responsibilities are as well as accountants in this endeavor.
-
Social Engineering Fraud Schemes–this course explores the numerous simple and easily overlooked fraud schemes which are gaining in popularity.
Tax Professionals
These accountants specialize in taxation and represent clients before the Internal Revenue Service (IRS).
The self-study CPE courses which could be useful to them include:
-
Matching Investments to Tax Saving Techniques–this course will help professionals understand the tax economics of returns on investments (ROIs). This knowledge will put accountants in a position to advise their clients how to maximize their ROI based on their assets.
-
Employment Tax–this course details the federal employment tax requirements which employers must follow.
Public Accountants
These are general accountants who may have their own private practice or work for an accounting firm.
The self-study CPE courses which could be useful to them include:
-
Full Disclosures in Financial Reporting –the principle of full disclosure is one of the major accounting principles. The principle requires that all financial reports be as complete and accurate as possible to avoid any complications. This course explores how the principle applies across the board in accounting.
-
Real Estate Accounting–this course explores the accounting techniques that need to be used in real estate transactions.
For CPAs, CPE courses will continually have to be taken in order to maintain licensure and relevancy in the field. Self-study CPE programs offer professionals the opportunity to earn the credits they need on their own time.