1991-1993 Catalog - Catalogs - West Virginia University

Given this extended educational requirement, students may want to considerpursuing the additional hours immediately after earning the baccalaureate degree.Pursuing the Master of Professional Accountancy degree at WVU is one way to satisfythe additional hour requirement and earn a graduate degree at the same time.Interested students should contact the Director of Graduate Programs for the Collegeof Business and Economics for details.Career Paths in AccountingCareers in accounting are frequently identified as being in public accounting,management accounting, governmental accounting, and internal auditing. Theundergraduate accounting curriculum provides students with the basic educationalbackground necessary to pursue careers in these fields. Accounting majors andpotential majors are encouraged to consult with the faculty about the opportunitiesavailable and the preparation needed in the several career areas. A brief description ofthe activities in each area follows.Public AccountingPublic accountants provide auditing, accounting, management consulting, andtaxation services to their clients. In auditing, independent certified public accountantsexamine clients' financial statements and express a professional opinion on thepresentation. Those engaged in auditing must become certified public accountants, theonly class of accountants who are licensed and regulated by the various legal jurisdictionsin the United States. In the case of accounting services, CPAs assist clients inperforming accounting functions that, in larger companies, are normally provided bytheir employees. In the area of management consulting, CPAs advise clients on avariety of problems and assist with the development of information and controlsystems, and production and marketing systems. CPAs assist clients in the tax areawith planning and advice, tax return and supporting document preparation, andrepresentation before governmental agencies.Management AccountingManagement accountants, the largest group of accountants, provide financialinformation that executives, creditors, and investors need to make sound businessdecisions. They also may prepare financial reports to meet the public disclosurerequirements of various stock exchanges, the Securities and Exchange Commission,and other regulatory bodies. Management accountants may also be involved withtaxation, budgeting, cost accounting, or investments. Management accountants maytake an examination to become a certified management accountant.Governmental AccountingGovernmental accountants work for federal, state, and local governments. Thefederal government hires accountants in many of its agencies, especially the InternalRevenue Service, the General Accounting Office, and the Defense Contract AuditAgency. Accountants at all levels of government are engaged in general accountingfunctions, financial management, budget preparation and administration, and operationsaudits to evaluate the efficiency and effectiveness of governmental activities.Internal AuditingInternal auditors examine and evaluate their firms' financial and informationsystems, management procedures, and internal controls. They review companyoperations by evaluating their efficiency, effectiveness, and compliance with corporatepolicies and procedures, laws, and government regulations. Internal auditing isgrowing in importance as top management must increasingly base its decisions onreports and records rather than personal observation. Internal auditors may take anexamination to become a certified internal auditor.156 College of Business and Economics