What are Certified Public Accountants and Their Services?
A certified public accountant or CPA is a qualified accountant who had satisfactorily completed a series of examinations. Aside from these examinations, this CPA has to have additional experiences as a requisite to get the certification. To accomplish this specialization, the CPA has to accomplish in meeting some specific qualifications and on-the-job training or experience, and also another way is to qualify this certification is to continue the professional education and experience in the areas of finance.
In most countries, the above qualifications are used as CPA while other areas call these professionals as chartered accountants. To arrive to this qualification, a person starts the career as a public accountant, after obtaining the basics in commerce. This is extended to a further qualification of a CPA by completing successfully the necessary examinations and at the same time gaining experiences related to the
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To further solidify their qualifications, most of the public accounts would join the National Society of Public Accountants, a prestigious group where the accountants are required to meet tough conditions before becoming a member. Note that states have different specific requirements, and this means that an out of town or state CPA is usually restricted and is not allowed to use the CPA designation until the accountant has acquired the certification of that particular new state.
A certified public accountant has many different services to offer, and the main service they provide is public accounting or sometimes referred to as financial audit services, or generally termed as assurance services.
A certified public accountant can attest to the compliance of the general principles of accounting in the financial statements used by a company. They can also attest to the reasonableness of disclosures, and most importantly, they can certify that the financial statement is free from misstatement. Generally, CPAs work in small businesses to provide a range of financial services and are considered as generalists. Other certified public accountants are considered specialists and can provide services and expertise in specific areas.
is expected to be well knowledgeable of the standards of profession of the Federal and State Laws. This means they are expected to abide in maintaining independence when they are to conduct audit and attestation when reviewing the financial aspects of an organization. In this case, it is a common observance that a CPA does not work as the auditor if they are hired as the consultant of the company. Generally, small to medium companies hire a CPA for taxation purposes, and also for audit purposes to ensure that correct practices are followed and assessed independently by another accountant.