Learn About Being a CPA (Certified Public Accountant)

Certified Public Accountants (CPAs) are the trusted professionals that help individuals, businesses and other organizations plan and reach their financial goals. CPAs provide a wide range of services including tax planning, budgeting and forecasting, bookkeeping, financial reporting and strategic business consulting.

Average salary

What’s the average salary for a CPA? The Bureau of Labor Statistics reports that accountants in the U.S. earn $90,000 per year on average, while those in Canada make $85,000 annually and those in the United Kingdom earn £42,000 (or just over $52,500).

Is your salary lower than these numbers? Don’t feel bad—it happens to the best of us. Just remember that there are many factors at work here: location, experience level and industry all play into how much an accountant earns.

CPA requirements

It may seem obvious, but you need a college degree to become a CPA. And it’s not just any degree; you must have at least 150 semester hours of college credit from a regionally accredited institution or another institution recognized by the US Department of Education. You’ll also need to take and pass two professional exams:

The Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA)
One additional exam that covers your state’s specific requirements

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CPA work environment

CPAs can be found in a variety of industries, including public accounting, industry, government, education and not-for-profit organizations.

Certified Public Accountants (CPAs) are the trusted professionals that help individuals, businesses and other organizations plan and reach their financial goals.

CPAs provide a wide range of services including tax planning, budgeting and forecasting, bookkeeping, financial reporting and strategic business consulting.

What does that entail?

Tax Planning: This function helps businesses manage the complicated tax laws so they can minimize their tax liability. It also includes ensuring compliance with all federal and state tax laws.
Budgeting: The CPA assesses whether or not your companies plan is feasible based on past financial history as well as external factors such as industry trends and economic conditions. If there are any issues with the plan submitted by management, they will advise you on how to make changes so it’s feasible (i.e., not a pipe dream).
Forecasting: In this function you’ll receive periodic updates on how your company’s performance compares with predictions made in previous years (or months). Forecasting helps clients understand what metrics need improvement in order to achieve projected goals set forth by leadership teams or boards of directors or shareholders.

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A CPA is a certified public accountant who has passed the Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA).

A CPA is a certified public accountant who has passed the Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA). The AICPA is the professional organization for CPAs.

CPAs are licensed by individual states, which sets requirements to practice and maintain licensure. In most cases, these requirements include passing an exam that covers knowledge needed to practice in any area of accounting, along with other areas such as ethics and business law.

A qualified applicant must also complete 150 semester hours of college credit and obtain one year of work experience in accounting functions.

To be eligible for examination in the State of New York, a qualified applicant must also complete 150 semester hours of college credit and obtain one year of work experience in accounting functions. The courses must be completed at an accredited institution and must include courses in accounting, business, economics or finance. Coursework should also be taken in the same field as you intend to take the CPA exam.

CPAs are bound by a strict code of ethics established by the American Institute of Certified Public Accountants (AICPA).

This means that CPAs are held to an extremely high standard of ethical behavior. They’re not permitted to:

Help clients evade taxes or tax law violations
Engage in any kind of fraud or unethical practice, including misleading clients about their financial situation
Misuse client funds (for example, spending money you’re supposed to be holding for a client)

Most people could use a CPA.

If you’re like most American families, you could use a CPA. That’s because most families have financial issues that can be addressed by the services of a CPA.

You may be wondering, “What does a CPA do?” Well, first of all, he or she will file your taxes for you. But that’s not all! A good accountant can help with:

Your business finances
Your retirement savings plan
Investments (stocks and bonds)
Estate planning and probate

Conclusion

The Certified Public Accountants (CPAs) are the top professionals in their field. They have the expertise, knowledge and experience to help you achieve your financial goals. They can be an invaluable asset in today’s complex business world where accounting services are needed more than ever before.

What Does A CPA Do?