The Certified Public Accountant (CPA) Exam now reflects the technology-driven marketplace of today’s accounting world. As a result, the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) developed a new licensure model that launched in January 2024. The updated test considers and incorporates the importance of technology into each of the core sections of accounting, taxation, and audit and attestation, as well as in each discipline section.
The online Master of Accountancy (MAcc) Data Analytics/Data Visualization Track program from Northern Kentucky University (NKU) helps students prepare for the certification exam while earning credentials to pursue in-demand careers that combine data analytics and accounting. This innovative, technology-based degree program provides students with transferable skills and career stability to maximize their earning potential.
How the CPA Exam Has Evolved
Studying for the CPA Exam helps prepare recent accounting graduates for the challenges they will face as new accounting professionals. For many established accountants, their educational training and exam prep did not ready them for the important role that technology plays in accounting. Instead of relying on their employer for on-the-job training to develop tech skills needed for the position, emerging accountants must prepare for what lies ahead with the recently updated CPA exam format, initially known as the CPA Evolution.
The Core Plus Discipline format of the current exam features three core sections: Accounting, taxation, and audit and attestation. These three sections, which all CPA candidates must pass, test vital and foundational accounting skills. CPA candidates then choose one of three discipline areas to test on: Information Systems and Controls (ISC), Business Analytics and Reporting (BAR), and Tax Compliance and Planning (TCP).
Specializing in one of these disciplines can open up opportunities in an area of expertise. Additionally, exposure to relevant, real-world topics on the exam prepares CPA candidates for their careers in accounting.
How Technology Shapes Modern Accounting Practice
Beyond the CPA exam’s Core Plus Discipline format, the CPA evolution integrated technology subjects throughout the entire exam. Incorporating technology concepts into every section of the CPA exam reflects how technology affects the profession of accounting. The following are several ways that technology impacts modern accounting:
- Information systems: The use of computer software made the paper ledger book a thing of the past. Computerized accounting is much faster than manual accounting systems, and accountants use it to easily collect, store, classify and process data to keep it safe for reporting.
- Data analytics: Accountants use data analytics to uncover valuable insights, analyze data, increase efficiency, find observable patterns and better manage risk. By using descriptive, diagnostic and predictive analytics, accounting professionals can classify, monitor and assess information, gleaning insight to improve decision-making.
- Artificial intelligence (AI): By automating complex and repetitive tasks with machine learning (ML) tools, AI increases accuracy and efficiency while reducing costs. AI also underlies emerging business intelligence and visualization tools central to tech-driven business.
- Cloud computing: Internet-based computing allows accountants to perform accounting services from any location and provide information reports via the cloud.
Technology and data analytics are key components of modern accounting. The evolved CPA exam prepares new accountants to tackle significant technological assignments. Relevant, real-world content across every section builds the accuracy, critical thinking and problem-solving skills the profession demands.
Building a Career in Data Analytics and Accounting
Since accounting firms and businesses seek accountants who can provide additional assistance, such as offering data science and analytics services, the online data visualization degree program at NKU can help graduates land in-demand roles. Students build expertise in accounting analytics, ethics, strategic management accounting, business intelligence systems and database design practice.
Graduates enter the field with a distinct advantage in a profession where technology and analytical fluency are increasingly central to career advancement. An online MAcc degree with a data analytics and visualization focus provides both the CPA exam preparation and the practical skill set employers look for.
Learn more about Northern Kentucky University’s online MAcc Data Analytics/Data Visualization Track program.
