A certified public accountant (CPA) is a title that is given to accounting professionals who have earned their accreditation. Each state's Board of Accountancy issues the CPA license. The American Institute of Certified Public Accountants (AICPA) offers resources to obtain the license. The CPA designation is key in maintaining professional standards in the accounting industry.
- A professional distinction known as the certified public accountant (CPA) is given to qualified accountants.
- To become a CPA, you must pass the Uniform CPA Exam, which is a difficult exam.
Role of a Certified Public Accountant (CPA)
Not all accountants are CPAs. A CPA is a certified public accountant who has distinguished themselves with their dedication, knowledge, and skill. CPAs are involved in accounting tasks such as producing reports that accurately reflect the business dealings of the companies and individuals for which they work. They're also involved in tax accounting and submitting for both individuals and businesses. A CPA can assist consumers and firms in determining the finest option for lowering taxes while maintaining earnings.
While many people associate Certified Public Accountants (CPAs) only with taxes and tax planning, an increasing number of CPAs are providing financial planning and advisory services. These additional services may cover risk management, investment strategies, estate planning, or retirement plans.
What Are the Responsibilities of a CPA?
Depending on their role, a CPA may be involved in different aspects of the accounting profession. For example, CPAs can specialize in areas like forensic accounting, taxation or personal financial planning. Also, CPAs must regularly update their education and uphold a code of ethics.