Online Learning is the Evolution of CPD for CPAs

The exciting new technologies available today for online learning are opening new possibilities for CPAs to learn and develop professionally. 

Continuing Professional Development (CPD) is a requirement for all of us; but how often do we consider options other than just another seminar to meet our target hours?

Distance education (correspondence) has been with us for a long time.  You might remember self-studying your accounting modules, and mailing your assignments in to a marker for evaluation. But in the early 2000's, online learning began to work its way into mainstream professional development. After 20 years of development, the benefits are significant and growing.

Technology in Education at all levels 

As in every other facet of life, technology is changing the definition of education. Last week there was a story by the CBC discussing how technology is changing how work is being done in high schools in Canada.

"Two years into a pilot program, 20,000 Nova Scotia students are using Google Apps for Education, a suite of free web-based programs that allow students to collaborate on projects online and submit them electronically for grading.

They're able to communicate and collaborate on the same document at the same time from multiple sources. So they could be at different sides of the room, they could be in the same group, or one student could even be at home," said Doug Ross, a Grade 9 teacher at École Five Bridges Junior High in Hubley."  CBC.ca 

Clearly there are many benefits to be gained by this strategic use of technology. The question is how can we use these new tools to our advantage? 

Technology for Higher Education

As this technology has matured, there have been a number of developments that will make professionals chasing their CPD hours and those looking to add a degree to their resume happy.

It started with the proliferation of the personal computer and the Internet. High speed internet has allowed for real time exchanges, the “virtual classroom” that is the mainstay of online education today. Courses that you can take at your own pace, webinars and live chats with instructors are all features of this new era.

Technology in Accounting Education

Any accounting student receiving their education in the past decade will have some experience with elements of distributed and online education technologies. As a CMA student, we took it to the next level and had an almost entirely "virtual classroom." We conducted twice-weekly online lecture and discussion sessions.  Each student and the instructor participated from their home using their own computer.  I completed the 18-month Accelerated Program with a number of good friends and a close working relationship with my instructors, but with almost no idea what they actually looked like in person.

Later, as a student in the Stategic Leadership Program, our group work happened every Tuesday night - no matter where we were located. If I was on a personal vacation or on a business trip, collaboration, screen sharing, web cameras, and voice-over-ip connections meant that the learning never stopped - not even sitting on the dock at the cottage.

For students in the current CPA PREP or PEP programs, you too will be familiar with this mixed-delivery approach, as those program use a combination of self-directed, online, and group in-person delivery styles.

Massive Online Open Courses (MOOC)

For those CPAs looking to add another degree (an MBA perhaps),  Massive Online Open Courses (MOOCS) should be considered carefully. A MOOC is a course delivered via online technologies which is designed for the instruction of an unlimited number of students to participate. Lessons, assignments, evaluations and even collaboration with classmates and instructors are built to scale to very large numbers.  

In fact, the term MOOC was coined related to a 2008 course delivered by the University of Manitoba, in which 25 students were tuition paying students, and over 2200 online students who participated for no charge. (source)

Since then, universities all over the world have supported and developed these courses. Much more than just an online course, some herald the MOOC as the evolution of higher education. Just a few of the most prestigious institutions participating in this new educational world:

• Harvard University
• Stanford University
• Princeton University
• Massachusetts Institute of Technology
• ... and many more

Sound promising? Just look at some of the courses (and the universities that provide the content) offered by MOOC provider Coursera:

Challenges of Online Education

Some of the factors that make online training one person’s educational paradise may rule it out for another. 

1. People that thrive on competition want to be ranked according to their peers and others may feel isolated working from home. In fact this lack of connection is cited as being one of the most important challenges of the online course.
2. Digital literacy is a requirement to participate.
3. If you do not have high speed Internet available, these courses are likely out of your reach for now.
4. MOOCs in particular are not universally hailed as superior to the physical classroom.  A University of Pennsylvania survey released in 2013 found that few students made it past the first lecture.  Interestingly however, a study by Harvard and MIT released in early 2014  had some interesting insights into those extremely low completion rates:

"Our data show that many who register for HarvardX courses are engaging substantially in courses without earning a certificate. In these course, “dropping out” is not a breach of expectations but the natural result of an open, free, and asynchronous registration process, where students get just as much as they wish out of a course and registering for a course does not imply a commitment to completing it." The Atlantic 

Benefits

So with these challenges in mind, why should the finance professional / CPA be embracing the revolution? 

1. Access to content - Students have been given the freedom to learn nearly anything, anywhere there is an Internet connection. What a game changer! For those that live in a small community their choices are no longer limited to what their community college offers.
2. Schedule flexibility - Even if you lived in a major centre, being able to accommodate a course's (or even worse, an entire degree program's) schedule can be very difficult. Between chauffeuring the kids to hockey and the challenges of quarter or year end, your schedule may not allow you to get to a traditional class. Or perhaps you have a small window of time to take the training now but the course you want is not offered for 60 days. All of these challenges tend to evaporate when you look at the self-paced world of eLearning.
3. Access to world leading experts - The best educators from, with the most experience from the most prestigious institutions are now available to all, not just those that live in Toronto, Vancouver, Montreal or other major centres.
4. Privacy - Students gain complete privacy and competition is removed from the educational process.
5. Reduced Cost - The costs associated with training are also dramatically lower, as you can eliminate air fare, taxi, parking, hotel, meal costs and even travel time to and from the course!

Where to from here for the CPA?