| CPA is the abbreviation for Certified Public | | | | to perform certain tasks that a CPA can execute. |
| Accountant. Although a CPA is essentially an | | | | To maintain the CPA license, the accountant must |
| accountant, not all accountants are CPAs. Certified | | | | take 120 hours of continuing education course in |
| Public Accountants handle a variety of tasks | | | | every three years in order to stay aware of the |
| related to money matters, such as income tax | | | | changes in their profession. |
| preparation; advice for home-based businesses, | | | | Like lawyers, certified public accountants have |
| small-scale businesses, or corporations; basic | | | | their code of conduct, and they should practice |
| business record keeping; auditing; and consulting | | | | those principles. They must provide their clients |
| work. | | | | with good, sound, and ethical advice. CPAs can |
| To become a CPA, an accountant must undergo | | | | perform a separate practice as consultants. The |
| a series of tests governed by the American | | | | CPAs have to research, provide varied advice, |
| Institute of Certified Public Accountants (AICPA). | | | | and save corporations or businesses money, by |
| This examination is known as the 'Uniform CPA | | | | developing financial plans that allow businesses to |
| Examination' and gives the license of Certified | | | | project an attractive balance sheet to the |
| Public Accountants (CPAs). This examination was | | | | investors. |
| first introduced by AICPA in June 1917. The | | | | There are many opportunities available for CPAs |
| uniform administration of the examination has | | | | such as joining The Federal Bureau of |
| enhanced the national prestige of the CPA | | | | Investigation (FBI) generally as an attorney or a |
| designation and promoted the interstate practice | | | | CPA. Many other federal and state government |
| of accounting. Other states also require CPAs to | | | | agencies also offer positions for CPAs, as |
| pass exams as well. However, a number of | | | | controllers, Chief Financial Officer (CFO) and Chief |
| accountants have never taken the CPA exam but | | | | Executive Officer (CEO) of corporations and small |
| still perform a variety of accountancy | | | | businesses. |
| responsibilities. However, they are not permitted | | | | |