Accounting: What does CPA stand for?

Public accounting is the term used to refer to a field of expertise in which activities related to the accounting profession are provided to individuals, businesses, or organizations in the form of services.

In order to be licensed to work independently in providing accounting services, an individual needs to undergo training courses and exams in order to obtain a practicing certificate.

CPA Meaning

A certified public accountant (CPA) is a certification given by the American Institute of Certified Public Accountants (AICPA) to individuals that pass the Uniform CPA Examination and meet the education and experience requirements

A certified public accountant is required to meet specialty, work, and experience requirements. To get this certificate, an accountant needs to have a relevant bachelor's degree (business administration, finance, or accounting) and completing 150 hours of education. In addition, they must have more than two years of experience in public accounting and passing the Uniform CPA Exam administered by the American Institute of Certified Public Accountants (AICPA).

A CPA can operate independently or join a professional company (auditing company, accounting service company...), providing accounting services to individuals units for charging.

Services Provided by Certified Public Accounting Firms

The main services provided in the field of public accounting include:

  • Audit

Public accountants usually perform an audit - an independent evaluation of an entity's financial statements. This is often the most basic of a CPA.

Audit work will be usually done by an auditing service company to perform. This independence is to ensure that the audit will be conducted in an objective manner.

After the audit, the auditing company will issue an audit report, which clearly presents the views and assessments of the auditor.

  • Tax services

This service is provided to individuals or businesses, to assist them in tax planning and tax reporting.

With their knowledge, the accountants will advise and assist his clients on the optimal solutions to harmonize compliance with the law and minimize tax obligations.

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  • Management consulting service

Along with the development of the economy, information technology, market... management consulting services provided by notarized accountants have increased significantly, bringing great revenue for companies. or individual practicing accountant.

Management consulting services cover many types, from financial planning to cost research, to the design and implementation of electronic data processing systems for businesses.

CONCLUSION

It can be said that hiring a CPA for your business is worth considering because they are not only an accountant but they can help you with your problems includes everything from tax preparation, to financial statements, to financial planning, to internal auditing, to income tax. They are the people who support your business to grow and predict the risks.

Are you ready to get help, or are you still not sure if you need help to run your construction business? Contact Construction Cost Accounting to have a free 15-minute consultation!

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