The Universal System of Accounting Education
The USAEdTM Universal System of Accounting Education is a sister organization of the Universal Alliance in Accounting Education UAAEd, both under the patronage of the International Institute of Certified Professional Accountants Verein IICPA®, an association organized under the laws of Switzerland promoting the interests of international accounting and finance educators and professionals, firms and practitioners on this

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"The fundamental nature of most accounting debates is that we don't agree on what should be considered earnings or profit and loss."

    — James J. Leisenring (2004), retired member IASB and FASB, Conceptual Framework, IASCF, London video 2004 — More

The relationship between academic accounting education and professional training has always been contentious, the goal being to move accounting preparation on to a more efficient, economic and practical basis.

The issues arising about the alignment lie at the relationships between

  • the professional knowledge base,
  • learning in a university on the one hand, and professional practice on the other, and
  • the skills to be acquired before entrance into the profession, and the skills to be acquired after.1
  • The International Accounting Standards Board's (IASB) project, developing IASs/IFRSs, has been boosted by support of the key stock exchanges — The International Organization of Securities Commissions IOSC0, the global standard setter for securities markets regulation — and its regulatory importance.

    The giant international corporations have spread systems of internal accounting, control and financial reporting throughout the world, helped by the very large accounting firms, or the Big Four, which are clearly global.

    Elite international Schools of Business including Cornell in Ithaca NY, Ivey in Canada, LSE in London England, Bocconi in Milan Italy, National University of Singapore, Korea University in Seoul and others, are forming exclusive Global Alliances in Education — only one per country — to lift themselves out of this alignment conundrum in order to preserve their status and autonomy and attract high-performing students, preparing them for visible and lucrative careers in accounting and related professions, government, commerce and industry — all this at a time when student enrollment is shrinking, and colleges and universities start closing down. See Forbes "2019 College Financial Health Grades: How Fit Is Your School?" — let alone the "Impact of Coronavirus on Internatinal Recruitment," published by QS .

    Business School — IICPA Accounting Accreditation

    IICPA was founded in 2003 as a forum for university accounting faculties and has kept up a dialogue with central bankers, ministers of finance and the profession on pressing issues. It has list of Institutional Academic Members of international schools of business. The present USAEd Universal System of Accounting Education is obviously in the trend.

    USAEd's alliance members stand out by their elevated IICPA-accredited accounting programs. See Professional Accounting Accreditation for Faculties/Departments at university-level Schools of Business involving a straight-forward self-assessed checklist and affirmation submitted to the IICPA for verification and approval.

    Purpose: Two Qualifications in One

    Under this USAEd alliance, bachelor's and master's business and economics students are qualified to sit for the IICPA's uniform professional examination in their final year to earn the designation "International Certified Professional Accountant," the ICPA® — an Associate designation ACPA® is available for two-year accounting diploma programs — in addition to their academic degrees, both of which are granted for life. See also About us.

    USAEd's member Accounting Faculties, Schools of Business and their professional accounting and inseperable finance graduates are well set to make their mark.

    1 Elaine Evans, Roger Juchau, Richard M.S. Wilson (2014), The Interface of Accounting Education and Professional Training Routledge.

    Created/updated 2020-11-18