The Accreditation Council for Accountancy and Taxation (ACAT) seeks to ensure that all accredited individuals possess theoretical knowledge and the practical knowledge necessary to be successful practitioners. With that goal in mind we created The Accredited Business Accountant/Advisor® (ABA). This accreditation program establishes a uniform measure of proficiency that employers and clients can use when selecting an accountant and recognizes those who demonstrate a practice level of knowledge in accounting.
The ABA credential is earned by successfully completing the exam offered by ACAT and meeting a three-year experience requirement, up to two of which may be satisfied by college credit. The ABA exam is two Parts/Practices consisting of 100 multiple-choice questions each. Practice One covers Financial Accounting, Financial Statement Preparation, Presentation and Reporting. Practice Two covers Business Consulting Services, Taxation, Business Law, Ethics and Professional Conduct. This mirrors the Regulation section of the CPA exam; however the emphasis of the ABA is on the concepts of individual and small-to-medium business taxation.Once accredited, the individual agrees to earn 120 hours of continuing professional education credits every three years in order to maintain accreditation status.
• The ABA examination is used as a state-licensing examination in three states – Iowa, Minnesota, and Delaware
• Accredited Business Accountants/Advisors (ABA) are exempt from taking the Annual Federal Tax Refresher course an exam and qualify for the IRS Annual Filing Season Program (AFSP) Record of Completion upon meeting other IRS requirements