You may work for any large organization within public accounting, ranging

from a large, multinational CPA corporation to a small local accounting firm. You

will work within the company in fields such as accounting, tax consultancy and

management consulting.
BACKGROUND OF THE PROPOSAL

The opportunity to gain professional industry experience for accounting students

while undertaking their undergraduate degree provides them with both a competitive

edge in the marketplace and an opportunity to experience the activities undertaken in

their chosen profession. CPAs and potential CPAs have a variety of career paths from

which to choose. Within public accounting, you can work for any sized firm, ranging

from a large, international CPA firm to a small local accounting practice. Within the firm,

you can work in such areas as audit, tax and management consulting. The same holds

true in business and industry, where you can choose careers in companies of all sizes,

working in diverse areas such as financial accounting and reporting, management

accounting, financial analysis and treasury/cash management. CPAs can also provide

services in specialized areas of accounting like financial forensics, business valuation,

personal financial planning, and IT consulting. Within government, you can create a

path to success at either the federal, state or local level. Non-profit organizations and

education also offer many diverse opportunities.

The profession of accounting attracts several stakeholders not necessarily on the

student of accounting or practitioners. These stakeholders include the professional

accounting bodies (regulators), the lecturers/teachers of accounting as subject and

even employers who are seeking accounting services. It is befitting to rethink the

current scope for transforming students studying to become professional accountants

(the academy and education), the impact of the employer environment, professional
accounting bodies (education and experience), and policies because global and

national expectations of the accountants are undergoing rapid change.

This proposal paper was about the quality of the accounting profession in

Philippines. The target was accounting students, accountants at work places, members

from professional accounting bodies and regulators. The reason for carrying out this

proposal is due to numerous complaints against accountants but there was no basis for

corrective action, because the root cause remained unidentified. There was a general

feeling that accounting subjects that had been studied at schools, Universities and

accounting institutions was shallow and did not prepare the graduates for the real field.

The rationale was to assess the impact of the academic curricula on the quality

of the accounting profession in Philippines today. The rationale was to find out how the

work experience impacts on the quality of the accounting profession. The researcher

also learnt that the current academic curriculum does not impact the quality of the

accounting profession, but rather the work experience is critical.

From the smallest start-up to the largest government agency, every business or organization requires
the skills of a CPA. The CPA credential is highly regarded. To a potential employer it means high ethical
standards as well as measurable experience, education, and skills. CPAs work mainly in public
accounting, business and industry (corporate accounting), government, not-for-profit, and education. 

More and more women are becoming CPAs because accounting is a field with increasingly
interesting work, flexibility, a high level of respect and attractive financial rewards
The CPA credential is a symbol of trust and professionalism in the world of business. It's a highly
challenging professional track, but the reward is that CPAs are considered the most trusted advisors
in business.

In addition to completing business and accounting courses in college and passing a comprehensive
national exam, CPAs continue to maintain and update their skills as part of their commitment to a
truly dynamic profession. 

Accountancy is one of the top University courses in the Philippines. Each

year, 7000 to 8000 new Certified Public Accountants (CPAs) are added to the
roster of the Professional Regulatory Board of Accountancy.

These CPAs come from a batch of 9,830 examinees in the May 2018 Licensure board
examinations, which translates to a 28.9-percent passing rate. These passers came
from 466 schools throughout the country, which I believe, makes the Philippines the
country with the largest number of accounting schools in Asia. Since the time I
assumed the chairmanship of the Professional Regulatory Board of Accountancy in
2014, the BOA has been giving examinations to an average of about 21,000
examinees annually. The average passing percentage during this period was about 34
percent. Annually, an average of about 7,250 new CPAs join the profession to service
the needs of the local and global communities.

From my research, it appears that the Philippines has the “oldest” accountancy
profession in Asia. Compared to the other “oldies” in the region, Japan Accountancy
is celebrating its 75th anniversary this year, while CPA India is 74 years old. The
Philippines also may have one of the largest number of qualified professional
accountants among Asian countries. To date, per records of the Professional
Regulation Commission, there are 188,203 CPAs in the roster of the BOA. This is a
very significant jump in number since I passed the board examination in 1979 as the
39,500th (more or less) CPA.

Among Filipino students, there is great interest in accountancy as a profession.

Statistics from the Commission on Higher Education show that from 2015 to 2017,
there were about 160,622 enrollees in Bachelor of Science in Accountancy in 572
schools registered with the CHED. For the same period, only 23,225 students (about
14 percent of the enrollees) graduated. The number of enrollees and graduates of the
accountancy program is expected to increase over the next few years with the
introduction by the CHED and BOA of various reforms in the education system,
resulting in the issuance of CHED Memorandum Orders 27 to 30 in 2017.
BACKGROUND OF THE PROPOSAL

CPAs and potential CPAs have a variety of career paths from which to
choose. Within public accounting, you can work for any sized firm, ranging from
a large, international CPA firm to a small local accounting practice. Within the
firm, you can work in such areas as audit, tax and management consulting. The
same holds true in business and industry, where you can choose careers in
companies of all sizes, working in diverse areas such as financial accounting and
reporting, management accounting, financial analysis and treasury/cash
management. CPAs can also provide services in specialized areas of accounting
like financial forensics, business valuation, personal financial planning, and IT
consulting. Within government, you can create a path to success at either the
federal, state or local level. Non-profit organizations and education also offer
many diverse opportunities.

PUBLIC ACCOUNTING
In public accounting, the CPA serves many clients as an objective outsider or in an advisory capacity.

Currently there are over 46,000 public accounting firms in the United States ranging in size from small local

accounting practice to large international CPA firm.

ACADEME
As accounting educators, CPAs are members of the faculties of colleges of business administration,
professional schools of accountancy, graduate schools of business and community colleges. As
accounting faculty members, CPAs instruct students in areas such as auditing, financial accounting,
taxation, cost and managerial accounting, professional ethics, as well as many other interesting
areas. In addition to their teaching requirements, CPA educators conduct research to expand the
body of accounting knowledge and author books and articles on accounting theory. Due to their
research expertise, many educators also serve as business consultants to companies and firms as
well as expert witnesses in litigation situations.
Tuition for doctoral students is often funded by the institution or through another scholarship or grant
program. Doctoral students may receive stipends for work as research assistants and/or instructors.
Most doctoral programs are organized around a 4-year schedule, but there are exceptions. 

CORPORATE ACCOUNTING
CPAs in business and industry work for companies ranging from family-owned businesses to Fortune 500
companies. They are considered strategic business partners of their organizations and work in a variety of
different areas including the positions listed below. Powered by the resources and expertise of AICPA and
CIMA, two of the world’s leading accounting organizations, the CGMA designation gives you research, tools
and a global network. CGMA is the new global designation for CPAs working in business and government.
The CGMA is a strategically vital complement to your CPA credential - enhancing and powering your
experience and career path.