Section 872 IAC 1-0.5-1 - DefinitionsAuthority: IC 25-2.1-2-15
Affected: IC 25-2.1-1
Sec. 1.
The following definitions apply throughout this title:
(1) "Accounting internship" means work experience in accounting obtained with an employer for credit from a university or college.(2) "AICPA" means the American Institute of Certified Public Accountants.(3) "AP" means accounting practitioner.(4) "Board" has the meaning as set forth in IC 25-2.1-1-4.(5) "Bookkeeping" means the: (C) summarizing; of financial transactions of an entity from original documents for the purpose of preparing financial statements for internal use of management.(6) "Corporate internal audit position" means work experience in the examination and evaluation of the adequacy and effectiveness of an organization's accounting and financial records and its system of internal control.(7) "Course", for CPE, includes the following:(E) Similar terms to describe organized instruction.(8) "CPA" has the meaning as set forth in IC 25-2.1-1-6.5.(9) "CPE" means continuing professional education.(10) "Financial statements" means the results of arranging fiscal transactions into a form in order to provide readers with information.(11) "Firm" has the meaning as set forth in IC 25-2.1-1-7. The term includes entities organized under the laws of Indiana or any other state, including limited liability partnerships.(12) "Full-time employment" means a position in which the individual: (A) works at least forty (40) hours per week; or(B) if a teaching position, carries a teaching load of at least twelve (12) semester hours or the equivalent.(13) "Group program" means a CPE process designed to permit a participant to learn a given subject through real-time interaction with an instructor and other participants either: (A) in a classroom or conference setting;(B) by telephonic means; or(C) by using the Internet.(14) "He", "his", or "him", the masculine pronouns, includes the feminine and the neuter gender.(15) "Hours", used without a modifier, means CPE credit hours.(16) "Internet-based study" means a CPE learning activity, through a group program or a self-study course, that is designed to permit a participant to learn the given subject matter via the Internet.(17) "PA" has the meaning as set forth in IC 25-2.1-1-8.5.(18) "Public communication" means a communication made in identical form to multiple persons or to the world at large, as by: (19) "Self-study" means a CPE process designed to permit a participant to learn a given subject without involvement of an instructor. Any provision in this article that requires a specific number of semester credit hours shall be converted to the equivalent if a different grading period is used at the college or university. Unless it is established that a different equivalency applies, it shall be presumed that the correct equivalency is two (2) semester hours for every three (3) quarter hours.
Indiana Board of Accountancy; 872 IAC 1-0.5-1; filed Aug 18, 1983, 3:20 p.m.: 6 IR 1925; filed Mar 20, 1985, 3:25 p.m.: 8 IR 1029; filed Jun 1, 1994, 5:00 p.m.: 17 IR 2342; errata filed Sep 14, 1994, 2:50 p.m.: 18 IR 269; filed Jun 5, 1998, 3:58 p.m.: 21 IR 3932; errata filed Jul 28, 1998, 10:59 a.m.: 21 IR 4537; filed Feb 21, 2000, 7:06 a.m.: 23 IR 1650; readopted filed Jun 22, 2001, 8:57 a.m.: 24 IR 3824; readopted filed Oct 4, 2007, 3:32 p.m.: 20071031-IR-872070066RFA; filed Nov 5, 2008, 2:33 p.m.: 20081203-IR-872080293FRAReadopted filed 12/1/2014, 8:35 a.m.: 20141231-IR-872140395RFAFiled 10/3/2022, 9:07 a.m.: 20221102-IR-872220159FRAReadopted filed 1/12/2024, 11:32 a.m.: 20240207-IR-872230761RFA