A Comparative Research in the Differences Between CPA Board Passers and Non-Passers in Terms of Benefits and Privileges

Topics: Certified Public Accountant, Accountant, PASS Pages: 5 (1608 words) Published: January 26, 2014
Chapter 1
INTRODUCTION

Background of the Study
Being a student opens a lot of opportunities in life. Living in the Philippines, we have every right to choose what we want to do with our life. Choosing our friends, socializing with people, going to college, choosing a program, etc. – we can have it our way. A lot of students nowadays are choosing Accountancy as their program in universities. There are many privileges in this program since money is associated. We get knowledge of how money works in every business firms in the world. This is not an easy program. In fact, it is one of the most challenging one in the world, but the real challenge is finishing the now 5-year program and passing the CPA Board Exam. It is just not enough to graduate with a degree of Bachelor of Science in Accountancy. As the society demands, those who graduated BS Accountancy must first take up the Board Exam to see if they are really qualified with the job of an accountant. If you pass the Licensure Exam, you will now be called Certified Public Accountant. Passing the exam requires a minimum of seventy-five percent examination rate and will be entitled to registration as Certified Public Accountant provided that every subject does not have a rating of less than sixty-five percent. There are no more requirements to fulfill after you passed the exam. After graduating and passing the Licensure Exam, CPA’s will have to practice their profession for at least three years before they become Registered Certified Public Accountant. Working in the industry with low starting income is normal for beginners, but as time passes by, there is a chance for the increase in salary and income if you worked hard in your job. Attending seminars is also helpful since it helps you gain more knowledge which you haven’t acquired yet when you were still studying your program, like money and many topics involving the use of it in the industry. Those people who did not pass the Board Exam of course will not be released a license. Sometimes, they get underemployed or worse, unemployed although some still try to review and take again the next scheduled Board Exam. Those who failed after 2 CPA Board Examination will not be given chance to take again the exam, except if the registrant has proven that he has already taken and completed 24 units in the subjects included in the exam. This research aims to compare the differences between the board passers and non-passers in terms of benefits and privileges since every firm demands a passer and also a non-passer in their accounting department. We aim to understand and differentiate the two also because they have designated jobs in the society while other programs cannot have a job if they did not pass the board exam. The employment privileges is one of the reasons why accounting students take up this program, so if they did not pass the test, all their efforts in studying accountancy for five years will be wasted, right? Accountancy is one of the most challenging programs that exist. Those students who take up this program must have a high and clear knowledge of what the program really is. According to the Statement of Financial Accounting Standards (SFAS) No. 1 of the Accounting Standards Council, “Accounting is a service activity. Its function is to provide quantitative information, primarily financial in nature, about economic entities, that is intended to be useful in economic decisions.”

The above statement clearly tells us that accountancy is not just about money and manipulating it. Accounting is also useful in the economic aspect of every business firms and that every firm must have someone who specializes in the field of accountancy. It could help them solve problems that might arise in terms of financial and economic aspects. It would take a great deal of hard work and perseverance to master this program. However, a lot of students mostly underestimate the real meaning and purpose of this program. Students think...
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