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Finance: What is AICPA? 6 Views
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What is AICPA? The AICPA is the American Institute of Certified Public Accountants, or CPAs. It is the group of accountants that basically make all of the rules for the accounting profession and those who want to join it. They do things like set auditing standards for the use of accountants, write CPA exams, and provide further certifications for current CPAs.
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Transcript
- 00:00
Finance a la shmoop what is the AICPA alright people when you think wild and [People dancing in a club]
- 00:08
crazy parties rock stars jumping into swimming pools from the seventh floor [Man jumps off rooftop into swimming pool]
- 00:12
teenagers in skimpy swimsuits running down the halls of hotels you don't think
- 00:18
of the AICPA why because it stands for the American Institute of Certified
- 00:24
Public Accountants and their parties are just different [Group of people sipping cocktails]
Full Transcript
- 00:28
yeah the AICPA is responsible for setting US accounting standards it
- 00:32
sets ethical standards so there isn't a CPA somewhere writing off weekly [Roosters preparing to fight]
- 00:37
trips to a cockfighting arena as, you know travel expense it sets all kinds of
- 00:42
professional standards as well like common tax practices, financial statement
- 00:47
auditing practices and quality control for accounting firms so that no matter
- 00:52
which accounting office you visit the coffee in the lobby can't be cold [Man drinking coffee]
- 00:57
come on AICPA you can do better than that all right well the AICPA also puts
- 01:01
together and grades the exam you have to take if you want to become one of those [Boy studying for exam]
- 01:06
accountant people the uniform CPA exam ...Fail to pass that
- 01:11
baby and you may only be able to get a job counting actual beans not the [Man counting beans on conveyor belt]
- 01:16
financial ones so yeah the AICPA is the wizard behind
- 01:19
the curtain of the world of CPA-ing certified public accounting yeah they're
- 01:24
they're just concerned with a different kind of green like AC/DC green [Man singing AC/DC into microphone]
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