“W i thin the last decade accountancy has made rapid strides. Several states have formally recognized it as a profession by providing for examinations leading to the degree of certified public accountant. Five of the largest American universities have organized instruction in accountancy. A large number of the most important railroads and industrial corporations subject their books to periodical audit by public accountants. Banks, trust companies and insurance companies have more recently adopted the same plan as a guarantee of security to depositors and policyholders, and the best method of protecting against fraud. Manufacturers are calling upon the public accountant to install cost systems, banks are requiring borrowers to secure accountants’ certificates to the statements submitted as a basis for credit, and states, municipalities and public institutions in constantly increasing numbers are engaging the services of the profession to introduce system and order into their affairs. These indications of the growing appreciation of accountancy are the source of gratification and encouragement to its members; and there is no reason to doubt that they will receive even more substantial recognition in the future.

“Much, however, still remains to be done before accountancy can take the stand on the plane of medicine and law. Every state must grant legal recognition to this new profession, not merely by establishing boards of examination and registration, but by according the recognized public accountants certain privileges and some protection of their relations with their clients. The universities must be brought to a clearer recognition of the importance of accountancy instruction, both as a branch of professional training and as an indispensable element of general education. Other means of education must also be devised for the benefit of those whom circumstances exclude from the advantages of a university education. A body of accountancy literature must be developed. The corporation laws of the United States must be modified to require compulsory audit and publicity of corporate accounts. Above all, the accountants themselves must improve and firmly maintain those standards of professional efficiency and ethics which already exist, and without which the dignity and value of their calling as a learned profession cannot be maintained.

“To the attainment and the realization of these ideals, the Journal of Accountancy will be devoted. Its pages will contain the best thought of the profession on the intricate problems which they are called upon to solve, and will also present the literary work of men eminent in their various branches of business on accountancy subjects…The Journal of Accountancy will represent in the best and broadest sense, the interests of the accountancy profession, and its editors invite and expect in return the co-operation and support of every public accountant in the United States.”

he AICPA is committed to supporting its members who specialize in business valuation and forensic & litigation services (BV/FLS). Through member research and feedback, the AICPA learned that CPAs in BV/FLS believed that a sense of community was a top priority. “Our goal is to provide an online home for CPAs in the BV/FLS community—an area where they can find professional guidance and where they can network with members who share their interest and expertise,” said Anthony Pugliese, AICPA vice-president for business reporting and member specialization. “Our intention is that this new online community be a center to support our members in better serving their clients or employers.”

Members also said they were looking for more resources and tools in business valuation and forensic litigation services from the AICPA. “One of our primary goals has been to provide our members with the products and tools they need,” said Sandra Johnigan, CPA, most recent past chair of the AICPA forensic & litigation services committee. “With our new community Web site, we are able to accomplish that efficiently by giving our members the ability to find what they need in one convenient place.”

As with any Web site, freshness and relevance of content are critical, and the AICPA BV/FLS team has dedicated itself to making this happen. They also have created premium content that is reserved for members of the BV/FLS section and ABV credential holders. “This site is an important accomplishment for our community and is the result of a tremendous amount of collective effort,” said Thomas Hilton, CPA/ABV, most recent past chair of the AICPA business valuation committee. “I’m excited because this milestone is only the first stage. New materials and guidance will be added regularly in order to keep the content up to date and vital for our members.”

Interested in becoming a member of the BV/FLS membership section or an ABV credential holder? Learn about premium member benefits by clicking on the “Membership” tab of the Web site at www.aicpa.org/BVFLS .

Registration is open for the June ABV credential exam. For information, go to www.aicpa.org/BVFLS/Events and click on “AICPA ABV Exam Review Courses and ABV Exam Dates.”