ACT Certification: The Accreditation Council For...

ACAT Certification Bryant Stratton College Ms. Erina Masters Anita Bennett July 26, 2013 ACAT Certification ACAT is the Accreditation Council for Accountancy and Taxation. The Accreditation Council for Accountancy and Taxation is the regulatory and certification board for the Accredited Business Accountant (ABA). (Goodson, 2012) ACAT is proof that you have the knowledge and skills in the area of Accounting and Taxation. A person is giving their credentials if they can provide financial, accounting and taxation services. Professionals receive accreditation in accountancy and/or taxation through examination and/or coursework, and maintain their accreditation through commitment to a significant program of continuing professional education and adherence to the Councils Code of Ethics and Rules of Professional Conduct. (Kolar, 99) Accreditation is a voluntary credentialing progam for accountants and tax practitioners that recognizes individuals who have demonstrated a specific level of professional knowledge and competency. (Kolar, 99) When obtaining an accreditation, you are letting businesses, government and the public know that you will be providing the highest degree of specialization in accounting and tax services. The ACAT Board of Directors requires that a candidate have a minimum background of three years work experience or two years of college-level accounting plus one year work experience to earn the ABA credential. Individuals without substantive work experience are advised to have completed Principles, Intermediate, and either Cost or Managerial Accounting, as well as at least one semester in taxation, before taking the exam. You must make at least a 70 or better to pass. The test takes three-hours and you must have 72 hours everys three years of continuing professional education. The three hour examination consists of 58 multiple-choice questions which test your knowledge ot taxation and the standards of ethics for commerical tax return preparers. ACAT offers four credentials Accredited Business Accountant (ABA), Accredited Tax Advisor (ATA), Accredited Tax Preparer (ATP), and Accredited Retirement Advisor (ARA). Because ACAT certification is voluntary, the choice to become certified demonstrates individual pride in the profession, the desire to be recognized for mastery of the principles of accounting and taxation, and an ongoing commitment to quality client care. (Accrediation Council for Accountancy and Taxation) You have to register to take the exam. If its your first time taking the exam, you will have to create an account. There is 50 registration fee that is required for all exams. Once you have registered and paid the registration fee ---you will receive an authorization email that will provide you with the information on how to schedule the exam. The examination fees are as follows ABA Examination full exam practice 1 and practice 2 is 285 ABA Examination one part practice 1 or practice 2 is 200 ABA Examination Student Exam through Capstone is 125 ATA Examination is 200 ATP Examination is 200 and ARA Examination is 200. You must test within the testing window stated on the Authoriation-To-Test (ATT), which you receive after you

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ACT Certification: The Accreditation Council For Accountancy And Taxation

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