For a person to be fully recognized as one of the CPAs, he must take the qualification and pass it. Through this, once they have fully acquired and become a licensed CPA, it is also the time that they will be able to apply what they have learned and their knowledge into work. There are several qualifications that must be obtained before a person who want to be recognized one of the CPAs. These information will be further discussed after defining what a CPA is.
What Is A CPA?
CPA is a statutory title given to a qualified accountant in US. A person can only be recognized as one of the CPAs if he has already obtained all the necessary requirements. The most basic requirement for a person to earn the title of CPA is to take and pass Uniform Certified Public Accountant Examination. He or she must also obtain an additional state experience and education requirements. However, there are also people who have already passed the examination but haven't yet obtained or accomplished the requirement to have an on-the-job training, and have also lapsed o continuing their professional education. In such case, there are some states in the US in which the person is permitted and is designated to use CPA inactive and any other equivalent phrase. Nevertheless, most states in US only allow CPA with license in providing public attestation such as auditing opinions concerning the financial statement.
CPA Duties.
CPA covers a wide range of duties concerning accounting. However, the main role of CPAs is related in providing public accounting or an assurance service. An assurance service or financial audit service involves attesting to the sensibleness of disclosures, adherence to GAAP in the financial statements, and freedom on material misstatement. Generally, CPAs are not directly providing their services to the public. This is because they are commonly employed in the private sectors with finance related functions including the CFO, finance manager, and the CEOs subject for their business practice and knowledge. CPA can also choose to be business consultants. However, in auditing, CPA has always been needed or required by the Federal and State laws and professional standards to maintain their independence from an entity, which they're carrying out an attestation engagement. CPAs who are working as consultants typically don't work as the auditors. CPA can also represent taxpayers before Internal Revenue Service.
CPA Requirements.
As mentioned earlier, before a person can be considered as one of the licensed CPAs, he must first take and pass Uniform CPA Exam established by the AICPA. NASBA is the one that administers it. The state boards in Accountancy is also responsible for determining the eligibility of taking Uniform CPA Exam. In consideration with that, all the states in US except California have already conformed to "150 hour rule", which involves an added year after the typical 4 year college degree or master's degree. Generally, there are only three requirements for a person to qualify one of the CPAs. These CPA requirements include Education, Experience and Examination.
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