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Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.
An accountant is a practitioner of accounting or accountancy. Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant, or Registered Public Accountant. Such professionals are granted certain responsibilities by statute, such as the ability to certify an organization's financial statements, and may be held liable for professional misconduct. Non-qualified accountants may be employed by a qualified accountant, or may work independently without statutory privileges and obligations.
Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world. It is generally equivalent to the title of chartered accountant in other English-speaking countries. In the United States, the CPA is a license to provide accounting services to the public. It is awarded by each of the 50 states for practice in that state. Additionally, all states except Hawaii have passed mobility laws to allow CPAs from other states to practice in their state. State licensing requirements vary, but the minimum standard requirements include passing the Uniform Certified Public Accountant Examination, 150 semester units of college education, and one year of accounting-related experience.
Chartered accountants were the first accountants to form a professional accounting body, initially established in Scotland in 1854. The Edinburgh Society of Accountants (1854), the Glasgow Institute of Accountants and Actuaries (1854) and the Aberdeen Society of Accountants (1867) were each granted a royal charter almost from their inception. The title is an internationally recognised professional designation; the certified public accountant designation is generally equivalent to it. Women were able to become chartered accountants only following the Sex Disqualification (Removal) Act 1919 after which, in 1920, Mary Harris Smith was recognised by the Institute of Chartered Accountants in England and Wales and became the first woman chartered accountant in the world.
Founded in 1904, the Association of Chartered Certified Accountants(ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA). It has 233,000 members and 536,000 future members worldwide. ACCA's headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of over 110 offices and centres in 51 countries - with 346 Approved Learning Partners (ALP) and more than 7,600 Approved Employers worldwide, who provide employee development.
The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The institute provides a wide range of support services to more than 48 000 members and associates who are chartered accountants, as well as associate general accountants and accounting technicians.
The Chinese Institute of Certified Public Accountants or CICPA is a professional accounting organization based in Beijing with oversight responsibility for accountants in China.
The Institute of Chartered Accountants of India (ICAI) is the World's second largest professional accounting body and largest professional accounting body of India under the ownership of Ministry of Corporate Affairs, Government of India. It was established on 1 July 1949 as a statutory body under the Chartered Accountants Act, 1949 enacted by the Parliament for promotion, development and regulation of the profession of Chartered Accountancy in India.
IFACnet, the KnowledgeNet for Professional Accountants, was the global, multilingual search engine developed by the International Federation of Accountants (IFAC) and its members to provide professional accountants worldwide with one-stop access to good practice guidance, articles, management tools and other resources. This enterprise search engine was launched on October 2, 2006, by INDEZ. Originally marketed to professional accountants in business, IFACnet was expanded in March 2007 to provide resources and information relevant to small and medium accounting practices. In 2014, IFACnet was expanded and replaced by IFAC Knowledge Gateway, providing thought leadership and resources from IFAC and across the accountancy profession.
Accountancy in Hong Kong is regulated by the HKICPA under the Professional Accountants Ordinance. The auditing industry for limited companies is regulated under the Companies Ordinance, and other Ordinances such as the Securities and Futures Ordinance, the Listing Rules, etc.
The Certified Public Accountants Association (CPAA) was formed in 1989 to represent the interests of certain accountants in the United Kingdom.
Uganda Management Institute (UMI) is a government-owned national center for training, research, and consultancy in the field of management and administration in Uganda. It is one of the nine public universities and degree-awarding institutions in the country outside the military.
The Liberian Institute of Certified Public Accountants (LICPA) is a professional association of accountants in Liberia.
CPA Ireland, formerly the Institute of Certified Public Accountants in Ireland, is one of the main Irish accountancy bodies, with 5,000 members and students.
Iranian Institute of Certified Accountants (IICA) is a national professional accounting body of Iran. It was established at 21 February 1973 as a non-governmental association in Iran. IICA is the largest professional accounting body in Iran in terms of membership. Associate members of IICA are known as Certified Accountant (CA), and, fellow members of IICA are known as Independent Certified Accountant (ICA). IICA is the first Iranian member of the International Federation of Accountants (IFAC).
The Institute of Certified Public Accountants of Kenya (ICPAK) is a professional body for certified public accountants (CPAs) in Kenya. ICPAK is a full member of the International Federation of Accountants and the Pan African Federation of Accounting.
The Institute of Certified Management Accountants of Sri Lanka, is a professional body offering qualification in management accountancy in Sri Lanka.
The Luweero–Butalangu Road is a road in the Central Region of Uganda, connecting the town of Luweero, the political headquarters of Luweero District, with the town of Butalangu, the political and administrative headquarters of Nakaseke District.
Multitech Business School (MBS) is a privately owned institution of higher education, which offers degree, diploma and certificate courses in multiple business disciplines, in Uganda. It is recognized by the Uganda National Council for Higher Education, as a private, tertiary degree-awarding institution of higher learning.
References
- 1 2 ICPA Uganda (8 July 2016). "List of Members of the Institute of Certified Public Accountants of Uganda". Kampala: Institute of Certified Public Accountants of Uganda (ICPA Uganda). Retrieved 1 October 2016.
- 1 2 3 4 IFAC (1 October 2016). "Institute of Certified Public Accountants of Uganda". New York City: International Federation of Accountants (IFAC). Retrieved 1 October 2016.
- ↑ Google (1 October 2016). "Location of the Headquarters of the Institute of Certified Public Accountants of Uganda" (Map). Google Maps . Google. Retrieved 1 October 2016.
- ↑ Google (1 October 2016). "The Geographical Coordinates of the Headquarters of the Institute of Certified Public Accountants of Uganda" (Map). Google Maps . Google. Retrieved 1 October 2016.
- ↑ ICPA Uganda (1 October 2016). "The History of the Institute of Certified Public Accountants of Uganda". Kampala: ICPA Uganda. Retrieved 1 October 2016.
- ↑ ICPA Uganda (1 October 2016). "The Public Accountants Examinations Board". Kampala: Institute of Certified Public Accountants of Uganda (ICPA Uganda). Retrieved 1 October 2016.
- 1 2 3 Martin Luther Oketch (8 July 2015). "More students fail accounting exams". Daily Monitor . Kampala. Retrieved 1 October 2016.
- 1 2 Rwothungeyo, Billy (8 January 2014). "40.7 Percent Pass CPA Exams". New Vision . Kampala. Retrieved 1 October 2016.
- ↑ Tentena, Paul (28 June 2018). "New ICPAU President Promises Crackdown On Illegal Accountants". East Africa Business Week . Kampala. Retrieved 3 October 2018.
- ↑ Vision Reporter (27 February 2011). "Executive Watch: Derick Nkajja is the new chief executive officer of the Institute of Certified Public Accountants of Uganda (ICPAU)". New Vision . Kampala. Retrieved 1 October 2016.
- ↑ ICPA Uganda (1 October 2016). "Institute of Certified Public Accountants of Uganda: The Secretariat". Kampala: Institute of Certified Public Accountants of Uganda (ICPA Uganda). Retrieved 1 October 2016.