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Accounting Acronyms

In order to better understand the “alphabet soup” of abbreviations related to accounting, financial literacy, and various agencies, this list is being provided.

  • AICPA– American Institute of Certified Public Accountants
  • ASB– Auditing Standards Board of AICPA
  • CCH– Commerce Clearing House; tax and business law information and software for accounting, legal, human resources, securities, insurance, health care and small business professionals.
  • CPA – Certified Public Accountant
  • EA– Enrolled Agent
  • ERISA– Employee Retirement Income Security Act
  • FASB– Financial Accounting Standards Board, private organization which decides GAAP
  • GAAP– Generally Accepted Auditing Standards
  • GASB– Governmental Accounting Standards Board – sets rules for government accounting only
  • KPI– Key Performance Indicators (closing books)
  • MAP– Management of an Accounting Practice
  • OCBOA– Other Comprehensive Basis of Accounting
  • PMP– Project Management Professional
  • PRP– Peer Review Program
  • SAS– Statements of Auditing Standards from AICPA’s Auditing Standards Board (ASB)
  • SAS 99– Consideration of Fraud in a Financial Statement Audit
  • SECPS– Securities & Exchange Commission Practice Session (Peer Review Program, PRP)
  • SEP– Simplified Employee Pension
  • SIMPLE– Saving Incentive Match Plan for Employees
  • SOP– Statement of Position as in AICPA SOP
  • SSAE– Statements on Standards for Attestation Engagements (attestation is audit, compilation & review)
  • SSARS– Statements on Standards for Accounting & Review Services

Certifications:

  • CFE– Certified Fraud Examiner
  • CFM– Certified in Financial Management
  • CFP– Certified Financial Planner
  • CGFM– Certified Government Financial Manager
  • ChFC– Chartered Financial Consultant
  • CITP– Certified Information Technology Professional
  • CLU– Chartered Life Underwriter
  • CMA– Certified Management Accountant
  • CPIM– Certified in Production & Inventory Management
  • CSEP– Certified Specialist in Estate Planning
  • CSRP– Certified Specialist in Retirement Planning
  • CVA– Certified Valuation Analyst
  • PFS– Personal Financial Specialist