Various countries in the world have various designations used to refer to those individuals qualified as to work as accountants. The title CPA is normally used to refer to local public accountants. In the United States for a CPA accountant must have sat and passed a certified public accountant examination that is normally uniform besides having all the requisite education and experience to be certified as a CPA and a member of professional accounting bodies.
Designation CPA can only be used by an individual certified in that particular state. Out of state accountants have to be licensed in other states before they are allowed to use the designation. In the states there exists other designations for low tier accountants such as PA (public accountants) and LPA (licensed public accountants)Certified public accountants can work in the private as well as public sector. They may occupy positions such as chief executive officers, chief financing officers or head finance departments depending on their business knowledge and practice. They have a responsibility to ensure that accepted accounting principles that are applicable are adhered to.
CPAs play various functions. They may work as chief operations officers, chief executive officers or even as heads of financial departments subject to their business practice and knowledge. In the delivery of their services, they ensure adherence to generally accepted accounting principles which are applicable. Their primary roles entail financial audit services or what is commonly referred to as assurance services.
Accountants may opt to be business consultants. However this line of work limits the scope of jobs an individual can do since professional standards and the law provide that those people carrying out business audits must maintain a certain level of independence from those an attestation is being carried on. Therefore most accountants who are consultants are bound not to provide auditing services.
Whether in the public sector or under the employment of associations or corporations, CPAs operate in almost all areas of finance such as financial planning, income tax, financial analysis, cooperate finance, forensic accounting(They look for evidence on money laundering, tax evasion, securities fraud and embezzlement) Financial reporting, venture capital, assurance and attestation services(auditing and reviewing), estate planning, management consulting, regulatory reporting, tax preparation and planning and information technology(Combines IT and also accounting. This specialization deals with activities like testing systems to ensure accuracy, compliance with regulations and security.), environmental accounting(Involves managing environmental disputes, taking note of compliance audits and monitoring green initiatives)Though the examination sat for by those intending to be CPAs may be the same in many countries in the world, in countries such as the US, certification and licensing requirements vary from one state to another since they are determined by the laws adopted by individual states.
However, State requirements for one be become a certified public accountant can be generalized as examination, education and experience . Education requirements are normally fulfilled as one seeks to meet the eligibility criteria required to sit for the CPA examination.
Examinations primary concentrate on four key areas; Regulation (tests candidates on federal or national tax procedures, business law and tax and ethics in business) audit and attestation ( covers issues like evaluating evidence, performing audits, communicating audit findings, professional responsibilities) Financial accounting and reporting and Business environment and concepts(tests on corporate governance, strategic planning and information systems).
Before one is licensed as an accountant with CPA, he or she has sit a special examination based on ethics. It lays emphasis on professional ethics and laws governing professional practice.
Designation CPA can only be used by an individual certified in that particular state. Out of state accountants have to be licensed in other states before they are allowed to use the designation. In the states there exists other designations for low tier accountants such as PA (public accountants) and LPA (licensed public accountants)Certified public accountants can work in the private as well as public sector. They may occupy positions such as chief executive officers, chief financing officers or head finance departments depending on their business knowledge and practice. They have a responsibility to ensure that accepted accounting principles that are applicable are adhered to.
CPAs play various functions. They may work as chief operations officers, chief executive officers or even as heads of financial departments subject to their business practice and knowledge. In the delivery of their services, they ensure adherence to generally accepted accounting principles which are applicable. Their primary roles entail financial audit services or what is commonly referred to as assurance services.
Accountants may opt to be business consultants. However this line of work limits the scope of jobs an individual can do since professional standards and the law provide that those people carrying out business audits must maintain a certain level of independence from those an attestation is being carried on. Therefore most accountants who are consultants are bound not to provide auditing services.
Whether in the public sector or under the employment of associations or corporations, CPAs operate in almost all areas of finance such as financial planning, income tax, financial analysis, cooperate finance, forensic accounting(They look for evidence on money laundering, tax evasion, securities fraud and embezzlement) Financial reporting, venture capital, assurance and attestation services(auditing and reviewing), estate planning, management consulting, regulatory reporting, tax preparation and planning and information technology(Combines IT and also accounting. This specialization deals with activities like testing systems to ensure accuracy, compliance with regulations and security.), environmental accounting(Involves managing environmental disputes, taking note of compliance audits and monitoring green initiatives)Though the examination sat for by those intending to be CPAs may be the same in many countries in the world, in countries such as the US, certification and licensing requirements vary from one state to another since they are determined by the laws adopted by individual states.
However, State requirements for one be become a certified public accountant can be generalized as examination, education and experience . Education requirements are normally fulfilled as one seeks to meet the eligibility criteria required to sit for the CPA examination.
Examinations primary concentrate on four key areas; Regulation (tests candidates on federal or national tax procedures, business law and tax and ethics in business) audit and attestation ( covers issues like evaluating evidence, performing audits, communicating audit findings, professional responsibilities) Financial accounting and reporting and Business environment and concepts(tests on corporate governance, strategic planning and information systems).
Before one is licensed as an accountant with CPA, he or she has sit a special examination based on ethics. It lays emphasis on professional ethics and laws governing professional practice.
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