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cpas vs. accountants: an important distinction
While most people use the terms "accountant" and "CPA" interchangeably, there is a big difference. CPAs are considered some of business' most trusted advisers, and that's not surprising, considering the strict requirements to enter and stay in the profession. Achieving CPA status takes intelligence, ethics, integrity and lifelong commitment.
About CPAs
Certified public accountants (CPAs) function as independent auditors and act as advisors to individuals, businesses, financial institutions, non-profit organizations and government agencies on a wide range of finance- and tax-related matters. They are also employed as financial managers in industry and hold key positions at various levels in both government and education. Here's a closer look at the roles CPAs play.
- Auditing services
- Auditing is one of the most important and best-known services CPAs provide.
- Compilations and reviews
- Privately held companies often ask CPAs to perform compilation or review services instead of an audit.
- CPAs in business and industry
- Wherever they are employed, CPAs in corporate America are key members of a company's management team.
- CPAs as educators
- As faculty members at colleges, universities and community colleges, CPAs prepare students for accounting careers.
- CPAs in government and non-profit organizations
CPAs perform a variety of services at all levels of government and for non-profit organizations.
As management consultants, CPAs can help businesses to improve the use of their resources, increase their efficiency and achieve their objectives.
CPAs as financial planners
CPAs play a vital role in helping individuals arrange their financial affairs.
CPAs as tax advisors
As tax advisors, CPAs help individuals and businesses solve a variety of tax problems.
CPAs as technology consultants
CPAs can offer their clients technology solutions to business problems.