Young CPA Network
CPA Young CPA Network: Network is an engaging community where young and aspiring CPAs can seek answers and advice from professional peers.by AICPA
CPA Young CPA Network: EDGE Experience
The Young CPA Network’s Premier Career Development Event. Leave all expectations of a traditional conference behind. That’s the best approach for embracing the benefits of the EDGE Experience.
CPA Young CPA Network: Leadership Academy
Only 38 outstanding leaders selected to attend, and get tools and support you need to become a leader within your organisation, the community and the profession at large.
Outstanding Young CPA Award
One exceptional CPA will receive the award — it could be you or someone you know.
MORE ABOUT CPA
Why CPA ans About CPA
Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world. In the United States, the CPA is a license to provide accounting services directly to the public. It is awarded by each of the 50 states for practice in that state. Additionally, almost every state (49 out of 50) has passed mobility laws in order to allow practice in their state by CPAs from other states. Although state licensing requirements vary, the minimum standard requirements include the passing of the Uniform Certified Public Accountant Examination, 150 semester units of college education, and one year of accounting related experience.
Continuing professional education (CPE) is also required to maintain licensure. Individuals who have been awarded the CPA but have lapsed in the fulfillment of the required CPE or have requested to be converted to inactive status are in many states permitted to use the designation “CPA Inactive” or an equivalent phrase. In most U.S. states, only CPAs are legally able to provide to the public attestation (including auditing) opinions on financial statements. Many CPAs are members of the American Institute of Certified Public Accountants and their state CPA society.
State laws vary widely regarding whether a non-CPA is even allowed to use the title accountant. To illustrate, Texas prohibits the use of the designations “accountant” and “auditor” by a person not certified as a Texas CPA, unless that person is a CPA in another state, is a non-resident of Texas, and otherwise meets the requirements for practice in Texas by out-of-state CPA firms and practitioners.
CPA Overview: Services provided
The primary functions performed by CPAs relate to assurance services. In assurance services, also known as financial audit services, CPAs attest to the reasonableness of disclosures, the freedom from material misstatement, and the adherence to the applicable generally accepted accounting principles (GAAP) in financial statements. CPAs can also be employed by corporations—termed “the private sector”—in finance functions such as Chief Financial Officer (CFO) or finance manager, or as CEOs subject to their full business knowledge and practice. These CPAs do not provide services directly to the public.
Although some CPA firms serve as business consultants, the consulting role has been under scrutiny following the Enron scandal where Arthur Andersen simultaneously provided audit and consulting services which affected their ability to maintain independence in their audit duties. This incident resulted in many accounting firms divesting in their consulting divisions, but this trend has since reversed. In audit engagements, CPAs are (and have always been) required by professional standards and Federal and State laws to maintain independence (both in fact and in appearance) from the entity for which they are conducting an attestation (audit and review) engagement. However, most individual CPAs who work as consultants do not also work as auditors.
CPAs also have a niche within the income tax return preparation industry. Many small to mid-sized firms have both a tax and an auditing department. Along with attorneys and enrolled agents, CPAs may represent taxpayers in matters before the Internal Revenue Service.
Whether providing services directly to the public or employed by corporations or associations, CPAs can operate in virtually any area of finance including:
- Assurance and attestation services
- Corporate finance (merger and acquisition, initial public offerings, share and debt issuings)
- Corporate governance
- Estate planning
- Financial accounting
- Governmental accounting
- Financial analysis
- Financial planning
- Forensic accounting (preventing, detecting, and investigating financial frauds)
- Income tax
- Information technology, especially as applied to accounting and auditing
- Management consulting and performance management
- Tax preparation and planning
- Venture Capital
- Financial reporting
- Regulatory reporting
CPA Young CPA Network : The CPA profession offers unlimited possibilities for career growth and development. From students to seasoned professionals, the AICPA has a variety of tools to help you take your career to the next level.
CPAs and potential CPAs have a variety of career paths from which to choose. Within public accounting, you can work for any sized firm, ranging from a large, international CPA firm to a small local accounting practice. Within the firm, you can work in such areas as audit, tax and management consulting. The same holds true in business and industry, where you can choose careers in companies of all sizes, working in diverse areas such as financial accounting and reporting, management accounting, financial analysis and treasury/cash management. CPAs can also provide services in specialized areas of accounting like financial forensics, business valuation, personal financial planning, and IT consulting. Within government, you can create a path to success at either the federal, state or local level. Non-profit organizations and education also offer many diverse opportunities.
CPA Young CPA Network For CPA Profession
CPA Young CPA Network : There are many resources available to research the salaries of CPAs. Here are a few that we use.
According to Robert Half’s 2016 Salary Guide for Accounting and Finance, professionals with a graduate degree or certifications (like a CPA license) make 5 to 15% more. Check out salary ranges for more than 400 positions in corporate and public accounting, finance, banking, and financial services.
Glassdoor is a career and workplace community where anyone can find and anonymously share salary details about specific jobs for specific employers or company and interview reviews describing life on the inside of an employer — all for free. What sets it apart is that all the information comes from the people who know these companies best — either the employees who work there or the candidates who have interviewed there.
The U.S. Bureau of Labor Statistics released a report in 2014 that looks at the job market for accountants and auditors through 2024. They project a growth rate of 11% during this time frame.
CPA Young CPA Network
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