A Certified Public Accountant (CPA) is a person who has obtained a professional qualification by a program of education, license, and license. The Board of Accountancy in each state issues the CPA license. The American Institute of Certified Public Accountants (AICPA) gives details on where to get a CPA license. The CPA designation contributes to the enforcement of professional accounting standards.
A bachelor’s degree in accounting, business administration, or finance is needed to become a CPA. Candidates must also finish 150 hours of education and have at least two years of experience in public accounting. Additionally, a candidate must also pass the Uniform CPA Exam to receive the CPA designation.
There is no such thing as a national or universal CPA license. Each of the 50 states in the United States, as well as five additional licensing jurisdictions, works autonomously.
Moreover, certain credentials are necessary for licensure in each of these jurisdictions. Generally, every state board issues its own license depending on the state’s current rules and regulations.
Duties of a CPA
- Enhance the quality and significance of financial and non-financial data for decision-makers
- monitoring and managing the day-to-day activities of an organization or an individual, as well as providing strategic and long-term planning.
- Prepare financial statements that have been audited or reviewed, then file a report with the Securities and Exchange Commission (SEC).
- Represent their clients in front of the Internal Revenue Service.
- Working with individuals and businesses throughout the year to reduce tax liabilities.