Various countries in the world have various designations used to refer to those individuals qualified as to work as accountants. The title CPA is normally used to refer to local public accountants. In the United States for a CPA accountant must have sat and passed a certified public accountant examination that is normally uniform besides having all the requisite education and experience to be certified as a CPA and a member of professional accounting bodies.
However, in the United States, individuals are prohibited from using the designation CPA if they are not certified in that particular state. Therefore the use of that particular designation is restricted the state it was obtained until an out of state CPA acquires a license in the new state. There are other designations used to refer to lower tier accountants such as LPA (licensed public accountants) PA (public accountants).
Though in many countries accountants may work as business consultants, this is limited due to legal provisions and professional standards that require accountants conducting audits to maintain the greatest possible levels of independence with the entity attestation is being conducted on. Thus it becomes impossible for CPAs to be consultants and auditors.
Whether working in private or public sector, certified public accountants deal with virtually all financial matters such as financial analysis, cooperate finance, financial planning, forensic accounting(deals with matters of tax evasion, embezzlement, securities fraud and money laundering), venture capital, estate planning, information technology(looks at information technology and accounting), management consulting, environmental accounting(involves dealing with environmental disputes, monitoring green initiatives and taking note of audit compliance), assurance and attestation services, income tax, tax preparation and planning and regulatory reporting.
Though CPA examinations may be the same for all students in the country, in others like the US, state governments greatly influence the licensing and certification since they hold the final verdict on the various licensing requirements that are outlined in the laws enacted by the state.
State requirements for an individual to qualify as a certified public accountant can be generally viewed as examinational, experience and education requirements. Some of these such as educational requirements are achieved as one seeks to realize the requirements to be eligible for certified public accountant examination. After one has had the stipulated experience, they are considered eligible for licensing.
Accounting examinations have four main parts; audit and attestation( covers topics such as communicating audit findings, evaluating evidence, ethics, professional responsibilities, performing and audits)Regulation(tests candidates on business law, federal tax procedures, tax ethics business law and more) Business Environment and Concepts (deals with things like information systems, strategic planning and corporate governance.) and financial accounting and reporting. Though a number of aspects of this examination may vary depending on the country, the examination is principally based on these areas.
Before one is licensed as an accountant with CPA, he or she has sit a special examination based on ethics. It lays emphasis on professional ethics and laws governing professional practice.
However, in the United States, individuals are prohibited from using the designation CPA if they are not certified in that particular state. Therefore the use of that particular designation is restricted the state it was obtained until an out of state CPA acquires a license in the new state. There are other designations used to refer to lower tier accountants such as LPA (licensed public accountants) PA (public accountants).
Though in many countries accountants may work as business consultants, this is limited due to legal provisions and professional standards that require accountants conducting audits to maintain the greatest possible levels of independence with the entity attestation is being conducted on. Thus it becomes impossible for CPAs to be consultants and auditors.
Whether working in private or public sector, certified public accountants deal with virtually all financial matters such as financial analysis, cooperate finance, financial planning, forensic accounting(deals with matters of tax evasion, embezzlement, securities fraud and money laundering), venture capital, estate planning, information technology(looks at information technology and accounting), management consulting, environmental accounting(involves dealing with environmental disputes, monitoring green initiatives and taking note of audit compliance), assurance and attestation services, income tax, tax preparation and planning and regulatory reporting.
Though CPA examinations may be the same for all students in the country, in others like the US, state governments greatly influence the licensing and certification since they hold the final verdict on the various licensing requirements that are outlined in the laws enacted by the state.
State requirements for an individual to qualify as a certified public accountant can be generally viewed as examinational, experience and education requirements. Some of these such as educational requirements are achieved as one seeks to realize the requirements to be eligible for certified public accountant examination. After one has had the stipulated experience, they are considered eligible for licensing.
Accounting examinations have four main parts; audit and attestation( covers topics such as communicating audit findings, evaluating evidence, ethics, professional responsibilities, performing and audits)Regulation(tests candidates on business law, federal tax procedures, tax ethics business law and more) Business Environment and Concepts (deals with things like information systems, strategic planning and corporate governance.) and financial accounting and reporting. Though a number of aspects of this examination may vary depending on the country, the examination is principally based on these areas.
Before one is licensed as an accountant with CPA, he or she has sit a special examination based on ethics. It lays emphasis on professional ethics and laws governing professional practice.
About the Author:
You can get useful tips for picking a CPA accountant and more information about a reputable accounting firm at http://wcb-cpa.com now.
No comments:
Post a Comment