What does a Certified Public Accountant CPA do? Career Overview, Roles, Jobs KAPLAN
Not surprisingly, CPAs can find themselves in public and private companies holding management and executive positions. These positions can include Chief Financial Officer (CFO) and Chief Operations Officer (COO). Because of this, organizations seek out CPAs to lead teams, minimize inefficiencies, and maximize profitability. Similarly, CPAs also work closely with individual clients on personal business matters.
Once a person passes the exam and has met all educational and work experience criteria, they become a fully licensed CPA. Finally, you may need to take additional courses or earn continuing education credits to qualify for your CPA license. Depending on the state, these courses may be related to ethics, business management, or other accounting-related topics. Today’s Certified Public Accountants are tasked with expertly navigating complex financial rules, regulations, and standards to help companies to make informed decisions about their finances.
Why should I get a CPA license?
Commonly, CPAs provide litigation services in fraud, bankruptcy, merger and acquisition, and divorce proceedings. As a second piece of the audit, CPAs are often called on to explain their findings to a company’s executives and/or board. Therefore, they assure that these individuals can understand the report and act if needed. The CPA certificate opens so many doors and career paths that you wouldn’t be able to pursue otherwise.
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CPA exam
Every jurisdiction has different educational and experience requirements that must be met before taking the exam. As you can see, you have limited time to sit for and pass the CPA Exam. Therefore, I highly recommend that you invest in a CPA review course. These courses provide study materials and expert support to ensure you can pass the exam on the first try. To earn your CPA license, you must accumulate a great deal of accounting knowledge.
A certified public accountant (CPA) is a financial professional who has met certain education and licensure requirements set what is a cpa what does a certified public accountant do by their state board. They’re also licensed to represent clients before the IRS, which makes them a trusted resource when complex financial or legal matters come up. CPAs are still in demand as the accounting and finance industry grows. With the ever-evolving requirements for financial reporting, the need for certified public accountants who can offer expert advice and guidance is growing. Bureau of Labor Statistics states employment of accountants and auditors is projected to grow 4 percent from 2019 to 2029.
- In fact, most candidates work in an intern or entry-level accounting role to fulfil their experience requirements while they’re preparing for and taking the exam.
- Technological advancement is reshaping the profession, with CPAs increasingly focused on advisory services, strategic planning, and complex analysis rather than routine data entry and basic bookkeeping.
- One important quality in being a successful CPA is genuinely caring about your clients and their businesses.
- It means you’ve passed a nationally recognized test that has been modified to reflect your state’s regulations.
Where to find the state’s CPA requirements?
Many CPAs work in executive roles, such as Chief Financial Officers (CFOs) or financial consultants, guiding companies toward long-term financial success. Candidates must pass all four sections within an 18-month rolling window to earn their CPA license. Some states require CPA candidates to be at least 18 to 21 years old, and a few require that you’re a citizen or permanent resident. The career progression from CPA can take a few different directions.
- We also explain the education and experience requirements needed to become a CPA.
- The accounting profession offers competitive compensation packages that reflect the expertise and responsibilities required for these roles.
- This document confirms your eligibility and allows you to book your exam sections.
- So, if you choose to focus on auditing with your CPA license, you can expect to be in demand.
- With the title, you have greater flexibility in determining your own career path.
- It’s important to note that states have different CPE requirements and deadlines.
Despite automation and changing accounting tools, the CPA remains highly relevant. Companies still need licensed professionals to ensure compliance, financial accuracy, and regulatory oversight. In fact, demand for CPAs is actually expected to be high over the next decade. However, if you’re not planning to follow a career path that requires a CPA, you might not see the same level of ROI from getting your license. If you think this might be you, there are other financial qualifications that could actually be better suited to you. This doesn’t include the cost of any extra college credits or a master’s degree, as these can vary depending on which course/s you take and which school you go to.
Management Consultant
A Certified Public Accountant (CPA) is a licensed professional who has met specific educational and experience requirements set forth by their state board of accountancy. CPAs ensure the accuracy of financial statements, taxation, and other financial reporting. CPAs perform a wide range of accounting, tax, and consulting work for corporations, small businesses, non-profit organizations, governments, and individuals.
Education
For starters, they can provide guidance on when to sell a company or transfer ownership with minimum tax repercussions. Often, these types of conversations go hand in hand with helping a client conduct estate planning. Moreover, CPAs can assist clients with setting and meeting financial goals, planning for retirement and other major life events, and determining sound investment strategies. These professionals work with individuals, businesses, schools, non-profits, and government agencies to help them navigate their financial goals and needs.
CPAs who specialize in forensic accounting can sometimes move up into management accounting. Explore the rest of our guide to learn about typical CPA job tasks and responsibilities, CPA areas of expertise, and CPA salaries and career outlook. We also explain the education and experience requirements needed to become a CPA. These include performing audits of public U.S. companies and preparing audited financial statements for a company, such as a balance sheet or an income statement. CPAs have a wide range of career options available in public accounting (that is, working for an accounting firm), corporate accounting (working inside a company), or government service.
What is the CPA exam?
Not only does it promise job stability, but it also offers high compensation for the work done. By taking the necessary steps and staying dedicated to the program, you could develop a fulfilling career as a CPA. After meeting all qualifications, a student must take the CPA Exam, which is typically spread over four sections at different times.
A CPA isn’t just someone who files your taxes once a year they’re someone who can step in when money, rules, or decisions start to feel like a lot to figure out on your own. Somewhere along the way, you might’ve asked yourself what is a CPA really for, and hopefully now, the answer feels a lot clearer. They’re there to help you make the right moves with your finances whether you’re running a business, dealing with paperwork, or just trying to get things in order. And sometimes, having that kind of support is exactly what makes everything else a bit easier to handle. Overall, it is difficult to say whether one credential is more valuable than the other because it depends on the individual’s goals and interests.