CPAs are required to have a broad understanding of a wide variety of concepts in the field of accounting. However, having extensive expertise only in accounting is just not enough. CPAs are required to be more than accountants.
CPAs must be professionals who are broadly educated and who have the necessary technical competence and the analytical abilities, interpersonal and communication skills, and the cultural awareness that are necessary to serve the public. The reason a CPA is required to endow himself with so many skills lies in the complex and constantly changing environments around them.
There are a variety of courses that CPAs must focus on to gain the necessary expertise.
Accounting is obviously a must. In order to build a strong accounting foundation, the CPA must master the basics of accounting, which include financial accounting, managerial accounting, taxation and auditing.
Behavioral Sciences are important because they give the CPA an in-depth understanding of the management practices followed in various business organizations. They teach the CPA the human factors that are involved in all levels of an organization.
Business Law allows the CPA to be familiar with matters like constitutionality and jurisdiction, law of contracts, agency, federal and state laws, statutory laws and administrative regulation.
Communication is of critical importance. It teaches the CPA to take a bunch of numbers and statistics and convey them in a clear, concise way that makes sense to the layman. Since the primary resource of the CPA is the public, interpersonal skills are mandatory.
Finance is essential. Understanding of the concepts and tools used in financial analysis, knowledge of financial instruments, familiarity with the structure and terminology of domestic and international stock markets all go a long way in helping the CPA become an expert in his profession.