Definition
The Accounting and Financial Women’s Alliance (AFWA) is a U.S.-based organization dedicated to the career advancement of women working in accountancy and related fields. Founded originally as the American Society of Women Accountants (ASWA) in 1938 and rebranded in 2013, the AFWA aims to empower women through educational resources, networking opportunities, and fostering greater industry visibility.
Key Objectives:
- Education: Provide continuous learning opportunities for professional growth.
- Networking: Facilitate connections between members to build a robust professional support system.
- Publicity: Enhance the visibility and recognition of women’s contributions in finance and accounting.
Examples
Example 1: Professional Development
Jane, a certified public accountant (CPA), leverages AFWA’s extensive webinar series on the latest industry practices and regulatory changes. This helps her stay current and enhances her expertise, positioning her for potential promotions.
Example 2: Networking Opportunities
Mary, an internal auditor, attends an AFWA regional conference. There, she meets potential mentors and peers who provide valuable advice on navigating her career path, leading to a new job offer with better growth prospects.
Example 3: Scholarships
Lisa, a college student interested in accounting, receives an AFWA scholarship to support her studies. This financial aid reduces her educational burden and encourages her to pursue a career in accountancy.
Frequently Asked Questions (FAQs)
What is the mission of AFWA?
The mission of AFWA is to advance the careers of women in finance and accounting through education, networking, and publicity efforts that recognize women’s contributions to the industry.
How can one become a member of AFWA?
Individuals can become members of AFWA by applying through the organization’s website and paying the associated membership fees. Different membership levels are available, including student, professional, retired, and corporate memberships.
What types of events does AFWA organize?
AFWA organizes a variety of events, including regional and national conferences, local chapter meetings, webinars, and special interest group sessions focused on ongoing professional development.
Are there scholarships available through AFWA?
Yes, AFWA awards several scholarships annually to students pursuing degrees in accounting and finance-related fields, helping to alleviate the financial burden of their education.
How does AFWA support women in accounting and finance beyond networking and education?
AFWA also advocates for women’s representation in leadership roles within the industry and provides platforms for visibility and recognition of women’s achievements in accounting and finance.
Related Terms
American Society of Women Accountants (ASWA)
Definition: The original name of the Accounting and Financial Women’s Alliance (AFWA), founded in 1938 to support women in the accounting profession. The name was changed to AFWA in 2013 to better reflect the organization’s inclusive and expansive mission.
Certified Public Accountant (CPA)
Definition: A designation given to qualified accountants in the United States who have passed the CPA exam and met additional state certification and experience requirements.
Networking
Definition: The process of establishing and nurturing professional relationships which can lead to career development, opportunities, and support.
Professional Development
Definition: Ongoing education and training activities that help professionals advance their skills and knowledge within their field.
Online Resources
- AFWA Official Website
- National Association of State Boards of Accountancy (NASBA)
- American Institute of Certified Public Accountants (AICPA)
Suggested Books for Further Studies
- “Women in Accounting: Transition Through Development Stages and Economic Roles” by Susan L. Fredricks
- “Financial Accounting for Dummies” by Maire Loughran
- “Lean In: Women, Work, and the Will to Lead” by Sheryl Sandberg
- “Freakonomics: A Rogue Economist Explores the Hidden Side of Everything” by Steven D. Levitt and Stephen J. Dubner
- “Outliers: The Story of Success” by Malcolm Gladwell
Accounting Basics: “Accounting and Financial Women’s Alliance” Fundamentals Quiz
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