What Is a CPE in Accounting?
Many professions require you to update your skills through continuing education regularly. The accounting profession requires different levels of continuing education depending on your certification level. Accountants without certification can work in the accounting department at many companies without updating their skills. Continuing education in the accounting profession is measured in units of CPE.
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Certification
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Several different types of certification exist in the accounting profession. Individuals who choose to work inside businesses assisting management can pursue the certified management accountant designation offered by the Institute of Management Accountants. Accountants who work in public accounting firms can pursue a certified public accountant license issued by individual state boards of accountancy. Internal auditors certified by the Institute of Internal Auditors perform audit responsibilities within businesses. Each of these certifications adds to the credibility of the profession and the individual holding the certification.
Continuing Professional Education
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Continuing professional education, or CPE, represents the ongoing education and training received by certified individuals. Each unit of CPE represents one 50-minute session of face-to-face training or an estimated 50-minute session of self-study. Sessions must be approved by the organization issuing the certification in order for the time to qualify for credit. Each organization maintains the records and performs random audits of certified individuals to ensure that the requirements are met.
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CPE Requirements
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CPE requirements vary by organization. CIAs must complete 80 units of continuing professional education over a two year period. CMAs must complete 30 units of continuing professional education each year and two of those units must be focused on ethics. CPAs follow different guidelines, depending on the state they are licensed in. Some states require CPAs to complete a specific number of continuing professional education units each year in any subject. Other states break down the requirements into separate categories, such as auditing, financial reporting or tax.
CPE Topics
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CPE topics include specialized accounting topics, management training, industry training or ethics. Specialized accounting topics include training on Sarbanes Oxley, FASB updates or fixed asset reporting. Management training includes training on lean organizations or project management. Industry training includes training that relates to specific industries, such as the regulated utility industry or the banking industry. Ethics training includes reviewing case studies and studying resolving ethical dilemmas.
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