Accounting has come to be known as the language of business. Every person, no matter the profession, will come in contact with accounting whether it be through a financial statement, budget or bank account. The accountant’s job is to make sure that the information being provided is clear and easily understood by their clients. With this in mind, the accountant has become a problem-solver, a strategic and critical thinker, a communicator, and a consultant to executive management of the organization. All this while being forward thinking in the world of technology.
An accounting major at Westminster College will prepare you to take the Certified Public Accountant (CPA) exam. The CPA credential is important to an accountant’s career and, while not required, is highly encouraged by those within the profession. Westminster will teach you leadership, communication, diplomacy, ethics and integrity which will help you to become inspiring business leaders who make a true difference in organizations. Students take on more of the learning process responsibility while faculty serve as “learning mentors.” This can be accomplished through small student to faculty classes.
Westminster's Accounting Program is proud to be accredited by the Accreditation Council for Business Schools and Programs (ACBSP) at all degree levels.
The accounting major consists of courses from beginning level financial and managerial accounting to upper level auditing and accounting information systems. Throughout the courses, practice sets are used to give you hands-on experience into the application of accounting.
During your spring semester of senior year, the auditing course will include a group research paper on some type of fraud that has been committed in the business world. This paper will then be presented at the Undergraduate Scholars Forum hosted by Westminster College. These papers in the past have included direct assistance from the Federal Bureau of Investigation (FBI) and the Missouri State Auditor’s Office (SAO).
“The close, personal interaction with Westminster professors — who are CPAs themselves — creates a real opportunity to learn and prepare for a job in that field.”
Sean Vicente ’93 partner at KPMG LLP
The accounting minor provides advanced accounting knowledge to students from other majors, such as Business Administration or Management Information Systems. With the new laws recently passed, it is becoming more and more important for those who want to climb the corporate ladder to have additional background in accounting. You must either have sophomore standing or be in your third semester as a full-time Westminster student to enroll in any course in accounting.
Plus, Westminster's business program ensures you receive a top-quality education, recognized nationally by employers.There is no question deciding on a major is an important, and sometimes difficult decision. Our Accounting faculty at Westminster College are here to help support you as you decide which path is the right path for you.
The American Institute of Certified Public Accountants (AICPA) identifies the following competencies as important to the success of an accountant:
· Problem-solving, analytical and research skills
· Personal skills
· Strong communication skills including the ability to be a good listener
· Understand emerging technologies
· High Ethical Standards
· Marketing/Client Focus
· Project Management
· Broad Business Perspective
Our accounting program at Westminster College is structured to build these competencies. You will work on projects with your classmates to help build teamwork, leadership, and communication skills. Your course work will build upon your technology skills, analytical and problem-solving skills, and business acumen.
Accounting has come to be known as the language of business. Every person, no matter the profession, will come in contact with accounting whether it be through a financial statement, budget, or banking accounts. The accountant’s job is to make sure that the information being provided is clear and easily understood by their clients. With this in mind, the accountant has become a problem-solver, a strategic and critical thinker, a communicator, and a consultant to executive management of the organization. All this while being forward thinking in the world of technology.
The accounting major consists of courses from beginning level financial and managerial accounting to upper-level auditing and accounting information systems. Throughout the courses, practice sets are used to give you hands-on experience into the application of accounting.
The accounting major provides a thorough grounding in the fundamental concepts and theory of accounting and intensive practice in applying these concepts and theories to the preparation, analysis, and evaluation of financial statements for a variety of types of profit, non-profit, and government institutions. Westminster’s accounting major is built upon the understanding that the technological advancement of the computer system and the global economic system, while making accounting less labor-intensive, has also made the field of accounting much more sophisticated and more complicated. Consequently, a primary goal of the major is to help students learn how to learn, to develop analytical and conceptual skills along with communication and interpersonal skills, while at the same time, to acquire a strong fundamental understanding of accounting theory and practice.
During your spring semester of senior year, the auditing course will include a group research paper on some type of fraud that has been committed in the business world. This paper will then be presented at the Undergraduate Scholars Forum hosted by Westminster College. These papers in the past have included direct assistance from the Federal Bureau of Investigation (FBI) and the Missouri State Auditor’s Office (SAO).
According to the U.S Bureau of Labor Statistics, employment of accountants and auditors is projected to grow 4% from 2019 to 2029.
Westminster College graduates have gone on to work at some of the biggest public accounting firms and corporations in the country. Our graduates currently hold roles as bank executives, corporate account analysts, corporate accountants, risk executives, investment analysts, tax experts, and both internal and external auditors, to name a few!
Yes and no. All CPAs are accountants, but not all accountants are Certified Public Accountants (CPAs). The principal differences between accountants and CPAs are education, experience, and opportunity. Becoming a CPA is a challenging goal, but one very much within your reach.
In order to become a CPA, there are education and experience requirements you'll need to fulfill, and a Uniform CPA Exam that you must pass. Receiving your CPA certification distinguishes you from other business professionals – the benefits are increased trust, opportunity, and financial reward.
CPAs are many things. They are chief financial officers for Fortune 500 companies and advisors to small neighborhood businesses. They work for public accounting firms, both small and large. They are well-respected strategic business advisors and decision-makers. They act as consultants on many issues, including taxes and accounting.
A CPA, or Certified Public Accountant, is a trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals. Whatever those goals-saving for a new home, opening a new office, or planning a multi-billion dollar merger-CPAs can help.
Getting your CPA certification opens the kinds of doors that can fast-track you into influential jobs in every industry. Whom do you think the FBI recruits to investigate criminal fraud? What profession is often a stepping-stone to holding positions like Chief Financial Officer (CFO) and Chief Executive Officer (CEO)? Who helps rock stars manage their money, and avoid going broke?
According to the Missouri Society of Certified Public Accountants (MOCPA), the process in becoming a CPA in the State of Missouri includes; college education, passing the four parts of the CPA exam and Ethics exam, and gain the necessary professional experience for licensure.
You will need 150 semester hours of general college education. Of those 150 hours, 33 semester hours must be in accounting, including one auditing course, 18 semester hours of the accounting courses are upper division accounting, and 27 semester hours are in general business courses. Our Accounting program meets all the requirements, except for the 150 semester hours. To reach those additional semester hours, students often double major or pursue a graduate’s degree for the additional credits.
The CPA exam consists of four parts that test your knowledge in Regulation (REG), Financial Accounting & Reporting (FAR), Business Environment & Concepts (BEC), and Auditing & Attestation (AUD). Passing the exam means getting a score of 75 or higher on all four sections within an 18-month period. The Ethics exam is an open book exam that is administered by the AICPA.
Candidates will need 2,000 hours (one year) of accounting-specific work experience, unless you are dreaming of a career in auditing. For future auditors, the requirement is 4,000 hours (two years), including 2,000 hours (one year) in an auditing-specific role.
https://www.mocpa.org/become-a-cpa/cpa-candidates/obtaining-your-license
https://www.aicpa-cima.com/resources/toolkit/cpa-exam
