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Top 3 Takeaways from the 2020 AAA Annual Meeting

top-3-takeaways-from-the-2020-aaa-annual-meeting

The American Accounting Association’s (AAA) Annual Meeting was held virtually this year, August 10th through the 13th. The theme of the meeting, Teaching and Learning in Accounting, aligned with what most accounting professors are facing right now – teaching students how to learn accounting in a virtual world.

There were over 600 different presentations available to attendees in a Presentation Gallery, as well as over 150 live sessions covering the topics of research and teaching available in a Live Conference Site. Attendees were also able to network with colleagues through a 3-D exhibit hall. While the conference looked different this year, conversations about the profession and the CPA Exam remained consistent from previous years. Below are the top 3 takeaways that our team found most relevant during this year’s event.

  1. We can do this” mindset.
    As we continue to navigate the ever-changing world during a pandemic, academic institutions are shifting even more to virtual and remote teaching. AAA quickly shifted to a virtual conference, similar to how many professors had to shift to remote teaching earlier this year. Many of the AAA sessions touched upon the topic of how to successfully teach during these unprecedented times and overall, professors seemed encouraged and engaged in this new way of thinking.

  2. CPA Exam updates remain a hot topic.
    While the pandemic continues in all of our lives, the CPA Exam moves forward. The American Institute of CPAs (AICPA) provided updates on what to expect for the 2021 CPA Exam.

    There will be some exam updates to both the REG and FAR sections of the exam starting October 1st of this year, with the inclusion of the CARES Act and a change in the definition of an accelerated filer. The CARES Act affects both REG and FAR, but mostly REG. All four exam sections will have changes in July of 2021 due to the Practice Analysis, but AUD and BEC are the only two with additional content added. Also important to note, many of the larger AUD exam changes, expected in 2021, were moved to 2022 because of the COVID-19 pandemic.

  3. The CPA Evolution is coming!
    There were two primary sessions during AAA dedicated to the updates on the CPA Exam and what is expected from newly licensed CPAs (nlCPA). While the new CPA Exam won’t fully evolve until 2024, the AICPA and National Association of State Boards of Accountancy (NASBA) continue to push forward by soliciting feedback to proposed changes to the exam. As a profession, it’s good to know that we will all have a say in ensuring the long term continued success of CPAs today and the next generation.

As the world continues to evolve, so does our commitment to provide structured, comprehensive CPA Exam preparation for CPA candidates and hundreds of universities across the nation.  Partner with us to seamlessly incorporate the CPA Exam curriculum into your undergraduate and master’s level courses. Contact us to begin exploring the ways UWorld Roger CPA can help you elevate your classroom this fall. Visit our Partner Page.