Recognition of Cost Accounting As a Profession: Standard #3

Sep 17, 2014

Professional Recognition

Virtually all professions that I can think of have some method of recognizing professional proficiency achievements of their members. Examples include recognition in the form of a board certification, achievement by passing a test, or completing some combination of work assignments and professional education with demonstrated skills in both.

I believe to be considered a profession, cost accounting has to have some method of recognizing achievements by members of the profession based on both work experience and academic level.

I believe the board for the entity controlling this would have input as to how that certification would best be achieved related to cost accounting and I personally have no bias one way or the other. I do believe that in order for recognition by industry and society in general, there must be some level of significant effort and experience expended to achieve professional recognition.

I can think of several examples where professional organizations have undercut the value of their certification or recognition of achievement by making it so simple that virtually anyone can qualify by merely paying dues and applying. Such recognition is of little use in the achievement of professional recognition for cost accounting.

In conjunction with professional certification, I believe there should be some method of recognizing achievements by students and others, perhaps academics, who are working in the area or desire to work in the area, but have not been in a position to gain the actual work experience which is required for full recognition.

I’m thinking that the completion of some components of the academic portion of the overall completion requirements would qualify a student or an academic for some intermediate recognition towards a goal of achieving full status as a professional cost accountant.

Further, I believe that in order to keep the business community confident in the skills of a professional cost accountant there has to be ongoing continuing professional education requirements. These are typically expressed in hours of study per year required or perhaps hours of classroom work required. The board would oversee this reporting process to ensure that their recognition is dependent on the successful completion of a certain number of hours and perhaps in a certain field of study so as to provide reassurance to the business community and society in general that the professional cost accountants are technically proficient and constantly improving as new concepts are presented and accepted by the profession.

What are some areas of professional certification you feel are necessary?

Categories: Cost Accounting