Question

What accounting classes in college should I take to prepare myself for the CPA exam. What classes in computer information systems would help me in accounting or auditing?

Answer 1

This is not a comprehensive list as accounting courses & electives vary from university to university. But the following are the major ones,

• Three course series of Intermediate Financial Accounting
• Accounting Information Systems
• Individual and Corporate Taxation
• Auditing (Internal and External)
• Financial Reporting
• Tax Research
• Cost Accounting/Managerial Accounting/Cost Management System
• Ethics
• Financial Statement Analysis
• Fraud Examination
• Not for profit and Governmental Accounting

There are computer software and systems that help businesses in accounting, auditing, analyze data in a scientific way to make the decision making process easy. The following can help you in accounting, auditing etc,

• Accounting Information System (AIS): It is a structure or system that business uses to collect, store, manage, process, retrieve and report its financial data to the relevant people and authorities. Accountants deeply work with AIS to ensure the highest level of accuracy in company's financial information and accounting/book keeping.

• Management Information Systems (MIS) : Management Information Systems (MIS) is a computer-based system. It helps the organization, especially the managers, top level management, to organize and evaluate the information and data and provide information in a timely and efficient manner. Based on the data senior level management and managers make decisions, prepare policies and budgets. Due to MIS decision making becomes easy from low level to top level management. As far as accounting is concerned, MIS is the source for information regarding companies financial health and current financial situation.

You can also learn SAP accounting software. It is a financial accounting and reporting software which records transactions and reports the data.