what-is-a-cpa

what-is-a-cpaA CPA, or certified public accountant, is an accounting professional who has passed the suʻega CPA. E le gata i, ua latou faataunuuina manaoga aafiaga uma le tulaga o aoaoga ma galuega e avea ma se CPA laiseneina. O nei tulaga faatonuina o loo latou tuuina mai e le setete laupapa o accountancy i le setete i lea ua ia faaaogaina.

Ae peitai, e leai se laisene CPA le atunuu po o le aoao. uma 50 setete US ma se puleaga faaopoopo laiseneina lima galue tutoatasi o le tasi i le isi. E le gata i, nei pulega uma e manaomia agavaa eseese mo licensure. O le mea moni, each state board issues its own license based on the current rules and requirements in that state.

In this way, a laisene CPA is much like an attorney’s license. Certified public accountants are typically only licensed in one state, but they can become licensed in additional states based on the reciprocity laws.

The CPA designation is the most sought after and used credential in the world of accounting and for good reason. This credential gives you the experience, expertise, knowledge, and opportunity to do many things in your career that a non-certified accountant wouldn’t be able to do.

o le mea lea, let’s take a look at some CPA job descriptions and a list of what CPAs are capable of doing!

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What is a Certified Public Accountant and What Does a CPA Do?

Certified Public Accountants have many different career paths and options available to them. That’s why this certificate is so popular. Ae peitai, the main two career paths include public accounting and industry accounting.

Let’s look at both:

Ā Fai se CPA i se Malosi Malo le tausiga o tusi?

O loo i ai le tele o ni galuega eseese e faatinoina se CPA i se ofisa CPA i le alamanuia o faamatalaga tau tupe a le Malo. O ni nai.

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O se tasi o galuega autu se tausitusi faamaonia faatinoina i le tausitusi o tagata lautele o le kalani sueina faasuetusi faamatalaga tau tupe ma le tuuina atu o se manatu o le faamatalaga. aupito, ua iloa e le suetusi o se unbiased vaega lona tolu o le iloiloina ma iloilo le faamatalaga tau tupe ua saunia e le pulega. Faavae i le sueina o tusi, tuuina atu e le CPA se manatu o le faamatalaga tau tupe le faailoaina atu pe na maua so o se meafaitino misstatements.

Mulimuli ane, all public companies are required by the SEC to have a CPA firm audit their financial statements before they are issued to shareholders and the public.

Tax Preparation and Services

One of the most popular and well-known career paths for a CPA is in the tax preparation industry. This includes preparing all different types of client tax forms from property taxes to income taxes. This also includes advising clients on tactics and strategies of how to structure their affairs to minimize tax burdens.

Consulting Services

CPAs are engaged in many different types of consulting services to help their clients identify business problems and run their operations more effectively. Some consultations include evaluating internal controls and identifying possible operational improvements.

Forensic Accounting Services

Far too often employees or owners embezzle money from the company. Most of the time embezzlement schemes aren’t caught until some time after the initial event. It could take months or even years to uncover a complicated embezzlement scheme.

CPAs are often hired to dig through financial records, identify if money was stolen, and report all fraudulent activities that were uncovered.

Financial Planning and Business Valuation

CPAs are often engaged to advise clients when the best time to sell a business is and how to transfer it to another person.

During the evaluation process and planning stages, latou faailoa atu foi ia latou auaunaga o le ramifications lafoga o le faatauina atu po o le faaliliuina atu o se pisinisi. ua taatele lenei i le fuafuaina esetete ma soloaiga.

Auaunaga faafaamasinoga

E ui lava e le o laiseneina CPAs i faiga tulafono, latou e masani ona faaaogaina e loia e maua ma faamaonia o faamatalaga molimau o se molimau tomai faapitoa i le potu faamasino. ua taatele lenei i taualumaga teteʻa, gau, ma pisinisi mergers / mauaina / vaeluaina.


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O le ā se CPA Pe i Alamanuia le tausiga o tusi?

There are several different jobs that CPAs perform outside of the scope of public accounting. Here are a few of them.

Company Management

CPAs make great managers because they understand finance, operations, and how to improve profitability.

Company Executives

Along the same lines, CPAs make great CEOs, CFOs, and COOs because they understand the inner workings of a company. It’s not uncommon for a company to hire a certified public accountant as the CFO or COO.

Non-Profit Organizations

Just like for-profit companies, faalapotopotoga e lē o ni tupe mama e manaomia le taitaiga ma le pule tau tupe e mafai ona tuuina atu fautuaga ma taiala le faalapotopotoga i le auala e faaaoga ana tupe o le auala sili.

CPAs e masani ona tofia e le laupapa o le lē-tupe mama ma fesoasoani i le puleaina o le galuega o aso e i le aso.

Malo

Le malo faafaigaluegaina CPAs mo le tele o galuega eseese. O le IRS, FBI, militeli, ma le Konekeresi lava faaaoga CPAs i tulaga eseese. O loo i ai se tane o avanoa eseese mo tausitusi i tulaga uma o le Malo mai i le lotoifale e le feterale.

aʻoga

Most accounting professors at major universities are certified. Although this isn’t a requirement, it is important seeing as they will be telling students to go become a CPA.


What Can a CPA Do that an Accountant Can’t Do?

There are a bunch of different things that CPAs are legally allowed to do that a non-certified accountant is unable to do. Here are a few examples.

Auditing

Non-certified accountants are not allowed to audit public companies, issue audit reports or opinion letters, or review public company financial statements for the SEC. The SEC only allows a CPA firm to perform these services.

Taxation Services

The IRS gives certified public accountants special privileges that non-certified accountants don’t get. A CPA is allowed to sign a clients’ tax return as a paid preparer and represent the client in front of the IRS. These privileges are also awarded to enrolled agents and attorneys.


Will You Become a CPA?

There are so many career options and opportunities available for certified public accountants that it’s crazy to not become one. If you are an accountant or are going into accounting, I would strongly recommend becoming certified. O le ae le salamo ai.

Kenneth W. Boyd

Kenneth W. Boyd is a former Certified Public Accountant (CPA) and the author of several of the popular "For Dummies" books published by John Wiley & Sons including 'CPA Exam for Dummies' and 'Cost Accounting for Dummies'.

Ken has gained a wealth of business experience through his previous employment as a CPA, suetusi, Lafoga Preparer ma Polofesa College. Today, Ken continues to use those finely tuned skills to educate students as a professional writer and teacher.