Certificate of Achievement in CPA Exam Preparation - Business Environment and Concepts

The Certificate of Achievement in CPA Exam Preparation - Business Environment and Concepts

is designed for students whose goal is to complete the coursework necessary to obtain their Certified Public Accounting (CPA) license. A CPA license is a distinguished and highly valued credential which enables the holder to work for public accounting firms, industry, government, not-for-profit, and academic institutions. The CPA exam consists of four parts: 1) Audit and Attestation, 2) Business Environment and Concepts, 3) Financial Accounting and Reporting, and 4) Regulation. This certificate prepares the student for the Business Environment and Concepts section of the CPA exam. All courses in this certificate meet the 150 semester hour education requirement for licensure in the state of California.

Course #	Course Title	Annual Sections (19/20, y1)	Annual Enrollment (19/20, y1)	Annual Sections (20/21, y2)	AnnualEnrollment (20/21, y2)
ACTG 1A	Financial Accounting I	29	1108	28	921
ACTG 1B	Financial Accounting II	16	613	15	567
ACTG 51A	Intermediate Accounting I	5	207	5	195
ACTG 54	Accounting Information Systems	N/A	N/A	4	114
ACTG 59	Fraud Examination	8	356	8	308

The general objective of the Certificate of Achievement in CPA Exam Preparation - Business Environment and Concepts is to prepare students to work as accountants, examining and preparing financial records, preparing budgets, and implementing internal control and cost control for private industry, public accounting companies, government agencies, individuals, and non-profit entities. The academic goal of the certificate is to prepare students to transfer to four-year institutions. The vocational goal is to prepare students to take the CPA exam, to satisfy the educational requirement for the CPA license, and to prepare students to become marketable in the field of accounting.

 

Program Learning Outcomes:

·      Students will be able to explain the use of internal control frameworks

·      Students will be able to understand and use enterprise risk management frameworks

·      Students will be able to identify key corporate governance provisions of regulatory frameworks and laws such as the Sarbanes-Oxley Act of 2002

·      Students will be able to explain economic concepts and analysis that would demonstrate an understanding of the impact of business cycles on an entity’s industry or business operation

·      Students will be able to determine market influences on the business environment, such as globalization

·      Students will be able to articulate the business reasons for, and the underlying economic substance of, transactions and their accounting implications

·      Students will be able to assess the factors influencing a company’s capital structure, such as risk, leverage, cost of capital, growth rate, profitability, asset structure and loan covenants, including calculating metrics associated with the components of working capital, such as current ratio, quick ratio, cash conversion cycle, and turnover ratios, and determine the impact of business decisions on working capital

·      Students will be able to understand commonly used financial valuation and decision models and apply that knowledge to assess assumptions, calculate the value of assets, and compare investment alternatives

·      Students will be able to explain the role of IT and systems, including the use of data in supporting business decisions; identify IT-related risks associated with an entity’s information systems and processes, such as processing integrity, protection of information, and system availability, including those risks introduced by the relationships with third-parties; and identify application and IT general control activities, whether manual, IT dependent or automated, that are responsive to IT-related risks, such as access and authorization controls, system implementation testing, and incident response plans

·      Students will be able to explain business operations and use of quality control initiatives and performance measures to improve operations

·      Students will be able to apply cost accounting concepts and use of variance analysis as well as budgeting and forecasting

 

Students will be required to take 5 core classes for a total of 25 units

Course	Title	Units	Year/Semester (Y1 or S1)
ACTG 1A	Financial Accounting I	5	Y1 Fall
ACTG 1B or ACTG 1BH	Financial Accounting II or Financial Accounting II Honors	5	Y1Winter
ACTG 51A	Intermediate Accounting I	5	Y2 Spring
ACTG 54	Accounting Information Systems	5	Y1 Spring
ACTG 59	Fraud Examination	5	Y2 Fall

Foothill College offers programs and services that empower students to achieve their goals as members of the workforce, as future students, and as global citizens. The demand for accountants continues to be high, with growth projected by the bureau of U.S. Labor and Statistics at 7% over the next ten years. The Certificate of Achievement in CPA Exam Preparation - Business Environment and Concepts will enable students to achieve their goals in respect to CPA candidacy, as well as those returning to the workplace, self-employment, or transfer to a four-year college. The program is a critical step for students who wish to obtain the courses necessary to sit for the CPA exam.

In Foothill College’s service area, the Certificate of Achievement in CPA Exam Preparation - Business Environment and Concepts is similar to offerings at Mission College and College of San Mateo. These colleges also have certificates based on specific portions of the CPA exam. Outside of our service area, but still in California, Santa Monica College has a CPA track certificate which is more general and covers the basic concepts for the examination.