Recognition of Cost Accounting As a Profession: Standard #5

Oct 02, 2014

Continuing educational requirements for the profession of cost accounting.

In my opinion, progressive professional accountants are constantly being encouraged and/or required to maintain and expand their technical knowledge. This includes both professional experiences in board certifications, as well as the need to take relevant continuing professional education related to the completion of their professional duties.

I do not believe any profession can maintain the confidence and trust of the business community and society, in general, without the need to constantly assure that the members are maintaining technical skills that are current with technical advancements in the profession. I do not believe it is enough to just have a general education, but that it is important to stay up-to-date within your own industry as far as technical advancements are concerned.

In my view, the CPE requirement will compel the oversight board to consistently review and update the diversity and technical relevance of courses offered. This will ensure members of the profession are constantly presented with options that are very relevant to their current work. Furthermore, I believe that the profession should pursue and employ the highest and best talent available in all possible technical areas. This will guarantee the development of new courses of study, as well as the advancement of technical achievement in one area or another.

Today’s advanced technologies allow for these courses to be offered in a variety of forms including online, self-study, and in-person courses. I believe the overall implementation and monitoring of this entire CPE requirement would be under the overall responsibilities of the oversight board formed for the profession. However, I feel that the CPE component should be a subcommittee reporting directly to that main oversight board.

This post concludes my series on recognizing cost accounting as a profession. I would enjoy hearing your feedback on any thoughts on this occurring and any ideas you may have.

Categories: Cost Accounting