The distinction between a CPA and a non-CPAaccounting professional is crucial. A non-CPA may have an accounting degree and perform bookkeeping or financial reporting tasks. A CPA is licensed and trained to handle more complex financial issues and provide legal tax advice. Most chain-store tax preparers are only certified for basic filings and don’t offer year-round support or personalized guidance. Events like the Great Depression and corporate scandals such as Enron in the early 2000s pushed governments to tighten financial regulations, further increasing the need for trusted CPAs.
Their education, examination, and experience requirements demonstrate a high level of expertise in accounting and auditing. As a CPA in the US, you can offer a variety of financial services to the public, including auditing, tax preparation, and financial consulting. A certified public accountant (CPA) is a licensed accounting professional who meets some of the highest standards in the industry.
- As a CPA, I find it can, at times, be challenging to manage various competing projects and deadlines.
- CPAs can also improve their earning and leadership potential with professional certifications, such as the certified fraud examiner, certified internal auditor, or certified management accountant credentials.
- Assurance services are independent professional services that improve the quality or context of both financial and nonfinancial information for decision makers.
- As a CPA, it’s very rewarding to be able to make a direct and positive impact on a business client, especially with a not-for-profit that makes a real difference in our community.
Chief Financial Officer (CFO)
Perfect for start ups and growing businesses that need readily-available financials and accurate record keeping. According to NASBA, CPA candidates could traditionally sit for the Uniform CPA Examination during any of the four quarterly testing windows opened each year. However, testing and scoring windows expanded in 2025, with multiple new windows opening for each of the four exam sections. With Guideline Pro, you get tools and expertise to help guide clients to a secure…
CPA Areas of Expertise
- The 2023 average CPA salary was $96,7523, though the average range is between $60,874 to $150,6124.
- It’s also easier to develop a personal relationship with your CPA if you can look each other in the eye.
- Tax accounting specialists develop deep expertise in complex tax code interpretations and strategic planning methodologies.
- For example, if you enjoy working more directly with clients, you may find being able to assist them directly with financial planning or defend them against the IRS to be more fulfilling.
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. Now that you know what a CPA is, the next step is finding one who actually makes things simple.
But many people choose to work with them regularly for ongoing support, especially if they own a business or have complex finances. CPA Portal is NASBA’s headquarters for the Uniform CPA Examination, serving those who wish to take the Exam in a jurisdiction supported by CPA Examination Services (CPAES), NASBA’s flagship program. Financial managers take responsibility for the financial operations and health of an organization.
All CPAs need some knowledge of tax law, but specializing in taxation means this will be the focus of your work. While the CPA Exam is the same for all candidates, other requirements may differ by jurisdiction. The BLS projects 6% growth in the accounting field between 2023 and 2033, an addition of about 91,000 new jobs, plus more than 130,000 annual openings from typical job turnover. In the states that have introduced the new 120-credit pathway, such as Ohio, Illinois and Tennessee, two years of work experience is the minimum requirement. Developed by AICPA, the Uniform CPA Exam is a four-part, 16-hour exam that uses multiple choice, essay and task-based questions to test your knowledge of the accounting profession. Work toward CPA licensure by building foundational or specialized knowledge in accounting on Coursera.
Since CPAs are experts in financial regulation and business environment, they help organizations and individuals adhere to set regulations and ensure organizational reporting is per set regulations. CPA holders are vital to firms in offering consultancy services, and they assist them in identifying problems, finding solutions, and implementing changes. Although an organization’s yearly returns could be in shares, they still need a CPA expert to look at quarterly financials for any issues. These activities might include budgeting, cash management, financial planning, insurance coordination, financial statements preparation, estate planning, investment guidance, and risk management. Please be aware that candidates must pass all four sections within an 18-month window. You can absolutely hire a CPA for one-time help, like filing taxes or handling a specific issue.
CPAs who specialize in taxation can advance to roles such as management accountants or financial managers. Their work requires extensive knowledge of financial systems, strong analytical skills, and the ability to translate complex financial data into actionable insights for clients and organizations. Whether working independently or as part of a larger firm, CPAs must maintain high professional standards while staying current with evolving financial regulations and industry best practices. Most CEOs are not accountants, but it is common for companies to hire certified public accountants as their chief financial officer or what is a cpa what does a certified public accountant do controllers. A certified public accountant can perform various jobs beyond their scope in accounting. Several organizations and corporations are looking for CPAs to fill different jobs, especially in upper management.
CPAs can also improve their earning and leadership potential with professional certifications, such as the certified fraud examiner, certified internal auditor, or certified management accountant credentials. All states require at least one year of accounting experience to obtain licensure. Again, you’ll want to check with your state board of accountancy to see what type of experience you’ll need, the exact amount of hours and if part-time work is accepted. All CPAs must have a bachelor’s degree and 150 semester (225 quarter) hours. However, the specific amount of upper-level accounting courses, business courses, and other requirements are left to individual states.
As a CPA, you will need to maintain your license by renewing it every one to three years and completing continuing professional education—typically around 40 credits each year, including an ethics component. After meeting the education, examination and work experience requirements, you can apply for CPA licensure with your state’s board of accountancy. The initial licensure fee varies by state but can cost anywhere from $75 to more than $400. The exam features three mandatory core sections on auditing and attestation, financial accounting and reporting, and taxation and regulation.
After you complete the required accounting credits, you’ll likely have enough to qualify as an accounting major anyway. In many cases, there are also minimum credit requirements for business, finance, statistics and economics courses. Check with your state’s board of accountancy for the specific educational requirements in your state or territory. Forbes Advisor’s education editors are committed to producing unbiased rankings and informative articles covering online colleges, tech bootcamps and career paths.
In most states, you do not need to major in accounting to meet CPA education requirements. However, an accounting bachelor’s or master’s degree offers the most direct and relevant preparation for CPA certification and licensure. The path to becoming a CPA requires careful planning and dedication, but offers substantial career rewards and professional recognition. Most aspiring CPAs begin with a bachelor’s degree in accounting or a related field from an accredited institution. Many businesses, especially large corporations, actively seek CPAs to fill accounting positions, particularly at higher levels and management positions. CPAs may work in areas such as financial accounting and reporting, management accounting, tax accounting, and internal auditing.
