What does a CPA do?

Spend your time wisely, and be confident that you’re gaining knowledge straight from the source. But it’s one that will reap big rewards if you choose to pursue it.

This means CPAs are legally required to act in the best interest of their clients, whereas a standard accountant does not have a license to lose. I would encourage students starting out in accounting to spend some time investigating their career options and talk to other people in the industry to get a sense of the best career fit for them. There are a lot of really interesting jobs and possibilities out there. As a self-employed consultant, I still use all the basic building blocks of accounting that I learned in college, pursuing my CPA, and working in public accounting. As a college student, I learned and liked that accounting is the basis and building block of many financial and business decisions. It seemed to be a great field to kick off my business career.

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An experienced CPA may provide testimony as an expert witness. The primary task of the CPA is to audit the books of clients. A lesser form of an audit is a review, which clients may prefer due to its lower cost. We are the American Institute of CPAs, the world’s largest member association representing the accounting profession. Our history of serving the public interest stretches back to 1887.

One of the main reasons why small https://quick-bookkeeping.net/ owners hesitate to hire an accountant is the expense. However, not hiring a CPA could be far more costly in the long run. Forecast and re-calibrate budgets periodically based on projected revenue from existing customers or growth plans for expanding into new businesses.

Tax Preparation Services

To receive the CPA designation, a candidate also must pass the Uniform CPA Exam. We will not represent you before the IRS or state tax authority or provide legal advice. If we are not able to connect you to one of our tax professionals, we will refund the applicable TurboTax Live Business or TurboTax Live Full Service Business federal and/or state purchase price paid. A CPA is an accounting professional licensed and credentialed by a state or territory to offer accounting services, including tax preparation, to the public.

• In this article, Long explains how she “fell into” being a CPA, the nuanced differences between financial professionals, and the unexpected ways that CPAs can propel any business forward.
• Despite that demand, Sleep cautions that being a CPA won’t guarantee you’ll rake in the money.
• Tax laws change quite frequently, and it’s difficult for many businesses to keep track of these changes.
• Once you meet the education requirements, you must pass four CPA exams lasting four hours each, Yoder explains.

Getting your CPA certification opens the kinds of doors that can fast-track you into influential jobs in every industry. Whom do you think the FBI recruits to investigate criminal fraud? What profession is often a stepping-stone to holding positions like Chief Financial Officer and Chief Executive Officer ? Who helps rock stars manage their money, and avoid going broke?