The Basics Of Certified Public Accounting

The Basics Of Certified Public Accounting

CPA or a certified public accountant is an individual who has passed the CPA Exam. The person has also had a practicing license by one of the fifty United States of America. If the state’s requirements continue to be met, the CPA’s license is renewed including continuing professional education credits. For getting more information about Use of Public accounting in Government and non-profit entities, click at

Most experts in this category can operate within public accounting services. This can range from a large international CPA firm to a sole practitioner. Nevertheless, many professionals leave public account while others do not make it up to the field of operation.

These CPAs can be found working as accounts in financial services, accountants, healthcare, not-for-profit organizations, education, government agencies and much more. Candidates are now required to have one hundred and fifty college credits for most state boards of accountancy in order to sit for the CPA Exam.

The Facts And Figures Of Certified Public Accounting:

A bachelor’s degree in accounting, finance or business administration is required for CPAs. They expected to have no less than 2 years of public accounting experience and complete one hundred and fifty hours of education. It is a must for CPAs to pass a certification exam.

Certification requirements will vary from one state to another. For CPAs, there is a wide range of career alternatives in corporate accounting or public accounting. CPAs can occupy executive positions in the likes of chief financial officers, controllers and chief executive officers.

In income tax preparation, CPAs are well-known for their amazing and unique role. They can as well specialize in a plethora of other areas in the likes of information technology, managerial accounting, forensic accounting, bookkeeping, and auditing. There is a special code of ethics associated with CPAs.

CPAs not sticking to a code of ethics can be found in the simple example of the Enron scandal. When performing reviews and audits, state and federal laws need CPAs to maintain independence.

The Basics Of Certified Public Accounting

Services Provided By CPAs:

Assurance services remain the key functions carried out by CPAs. The financial audit is the most common type of assurance services used by CPAs. This is where CPAs attest to the freedom from material misstatement, the reasonableness of disclosures, and the adherence to the applicable generally accepted accounting principles in financial statements. There are instances where CPA firms can serve or act as a business consultant. Below are some services that you can enjoy from CPAs:

Estate planning

Corporate governance

Corporate finance


Governmental accounting

Financial accounting

Financial planning

Financial analysis

Income tax

Forensic accounting

Regulatory compliance

Financial reporting

Venture capital

Tax preparation

Management consulting

Information technology


Small businesses are not in any way required to have a certified public accountant or CPA. When small businesses are having their financial statements reviewed or audited, a CPA would be needed. It is important to consider certain factors before hiring a CPA. This will help to get your project completed by a professional hand. CPAs are great professionals that can help in auditing and review top-notch information. Check professionalism, quality of service, experience, skill, and certification before hiring your dream CPA. Certified public accounting systems will help your business in a tons of ways. To get more information about public vs private accounting, click here.