Dear Fumi,

Thank you for your twelfth message. My comments follow.

Sincerely,

Prof. Sue Stiner

s2396055@slb.cgu.ac.jp wrote:

>

> Subject: The twelfth message

> Date: Tue, 27 Oct 1998 11:25:18 +0900 (JST)

>

> Dear Dr. M. Susan Stiner,

>

> I'm very pleased with the mail you sent me last week and it's good

> to see you again. We're sorry for being late.

I am sorry that you had computer trouble, Fumi. You have my complete

sympathies! I hope the problem is resolved.

>

> These days, the weather changed suddenly into like fall, I mean

> cool fall. It's very pleasing for studying and doing anything.

>

> In my homework,

> (Answers)

> 1.A. The population of Japan is about 126,000,000, and there are about

> 12,000 CPAs.

>

> 2. 44 states require the 150-hour plan in the U.S.

>

> 1.B&3. I quoted the following from the webpage you mentioned and

>

> In the U.S., the requirements for becoming a CPA are (1) complete

> a program of study in accounting at a college or university -- the

> AICPA recommends at least 150 hours of study; (2) pass the Uniform

> CPA Examination graded by AICPA; (3)obtain a certain amount of

> professional work experience in public accounting -- however, this

> is not required in all states. Licenses come from the states, not

> the federal government.

>

> In Japan, to be qualified as a CPA a person must pass CPA examination

> conducted by the Certified Public Accountants Board, an advisory body

> to the Minister of Finance. The CPA examinations consist of three stages.

> First stage

> The first stage assesses whether the candidate has the

> basic knowledge required to apply for the second stage

> examination. The test covers the Japanese language, mathematics,

> English and an essay. There are no educational requirements

> to sit for this examination. The first stage examination is

> waived for college/university graduates or those who have

> completed at least two years of their college/university

> education.

> Second stage

> As this stage the applicants are assessed for professional

> knowledge required for an accountant. The examination consists

> of multiple-choice test and written test. Only the candidates

> who have passed the multiple-choice test would be allowed to

> take the written test.

> The applicant must pass all subjects selected at one sitting

> and it is said that the second stage examination is one of the

> most difficult professional examinations in Japan. The applicant

> who has passed the second stage examination is qualified as a

> Junior CPA upon registration at the JICPA.

> Third stage

> The applicants are assessed for technical competence in professional

> judgement required for a CPA. The applicant, in order to become

> eligible to sit for the third stage examination, must have completed

> at least two-year training courses offered by the JICPA and other

> qualified organizations and two-year audit training at an accounting

> firm or specific training in industry. However, most applicants would

> complete both trainings within three years as one year overlapping

> is permitted.

>

> The applicant who has passed the third stage examination is permitted

> to practice as a CPA upon registration at and joining the membership

> of the JICPA.

>

> I think there are much more disclosure for firms' information in the U.S. than in

> Japan. So, there have to be a lot of experts for helping information disclose, and

> the CPA is one of the experts who has professional skills for that. I also think

> Japanese strict regulation should be changed to international standards.

>

> Thank you very much for taking your time.

>

>

> Sincerely,

> Fumi

>

>

Once again, Fumi, your answers were outstanding. You correctly

identified the requirements to be an American CPA. When are you coming

over to pass the exam? :)

The experience requirement in the U.S. (usually 2 years) is reduced to

one year if the candidate has a master's degree.

This week, for a change, I will not send a long, windy message. I am

late with the lesson. I hope to have the page up tomorrow. Sorry for

the delay. I promise the page will be short.

--

Prof. M. Susan Stiner