PURPOSE
The Accounting Math credential documents the essential mathematical and statistical competencies needed by a professional accountant. Algebra skills include working with equations, graphs, matrices, sequences, and induction.
AUDIENCE
This credential is appropriate for individuals looking to highlight their mathematics and statistics skills in an accounting, finance, or general business role.
JOB/CAREER REQUIREMENTS
Statistical skills include descriptive statistics, probability, and inferential statistics, and correlation and regression These credentials document the mathematical competencies that support accounting and other business tasks. Strong skills in algebra and statistics greatly increase an accounting professional’s value. Algebra is particularly relevant to management accounting analysis in in which the accountant uses mathematical models to understand relationships and facilitate decision-making. Statistics plays an increasingly important role in accounting especially in this age of “Big Data.” As companies aim to leverage greater amounts of consumer data, a thorough grounding in statistics becomes an increasingly important skill. Additionally, accountants in an auditing role conduct reliability assessments when gathering evidence. Controllers and others use statistics to create analyses and forecasts, and managerial accountants leverage statistical models to gather evidence for policy recommendations.
ACCOUNTING MATH WORKPLACE TASKS:
- Prepare, examine, or analyze accounting records, financial statements, or other financial reports to assess accuracy
- Solve equations and determine relationships among variables
- Create and analyze graphical representations of equations
- Report results of statistical analyses, including information in the form of graphs, charts, and tables.
- Analyze and interpret statistical data to identify significant differences in relationships among sources of information.
EXAM STRUCTURE OVERVIEW
Number of Questions in Exam: 70
Total Time: 180 minutes
Overall Passing Score: 70%
(All sections require an individual passing score of 70%)
