Internet Exercise #1

As you know, financial accounting differs in many ways from managerial accounting.

• The website of the Institute of Management Accountants (IMA) at http://www.imanet.org/ provides an overview of the Certified Management Accountant (CMA) designation. (See the Certification link on the home page.)
• The website of the American Institute of Public Accountants (AICPA) at http://www.aicpa.org provides an overview of the Certified Public Accountant (CPA) designation. (Access the overview at http://www.startheregoplaces.com/.)

Review the information provided on these two websites. Then, write a brief paper (3 - 5 paragraphs) that:

• Compares and contrasts these two professional designations (that is, the CMA and CPA).
• Identifies the professional designation(s) (that is, the CMA, CPA, or both) that involves obtaining a license from the state in which the accountant practices.
• Lists and briefly describes other certifications discussed on the AICPA and IMA sites.

Internet Exercise #2

The website of the Institute of Management Accountants (IMA) includes information about scholarships and awards for students. Search the site (see search box at top-left of page) and locate the information about the scholarships and awards that are sponsored by the IMA. Briefly describe the various scholarships and awards that are available.

Internet Exercise #3

Perform an Internet search using the term, opportunity costs. Select and read a case study or article from the results of your search. (Make sure that you do not select an instructor's lecture notes or a class assignment from the results of your search.) Then, write a brief paper (3 - 5 paragraphs) that summarizes the case study or article. (Your paper should provide the appropriate citation. If necessary, you may wish to refer to the following website, which includes information about citations: http://www.cod.edu/library/research/citenet.htm.)