16
Mar

The Road To Becoming A Certified Public Accountant (CPA)

Certified Public Accountants in many countries in the English-language world is known as¬†Certified Public Accountant or CPAs. It’s commonly equivalent to the name of a chartered accountant in many other English-language countries. In the United States, however, the CPA is merely a professional license to offer certified accounting services to the general public. CPAs are required to be licensed by the American Institute of CPAs (AICPA) and pass a test that assesses their understanding and skills in financial management. They must also complete an additional three years of experience as a Norfolk Certified Public Accountant¬†with the Internal Revenue Service (IRS). This professional accreditation assures potential clients that CPAs have the necessary skills and knowledge to perform the tasks related to accounting and bookkeeping.

A certified public accountant’s major responsibility is preparing the financial records of a company. He or she can prepare individual income statements, payrolls, and reports on the day to day financial activities of the corporation. The CPA can also prepare tax reports that include the company’s annual report to the federal government and individual tax returns for the year. CPAs also prepare detailed financial reports for investors, lenders, and other sources.

Today, there are several career paths available in the CPA profession. Certified Public Accountant training programs offer students the ability to choose two of four main concentrations. They may choose to specialize in accounting or business law, taxation, Social Security and Medicare, or health care. All students will receive comprehensive training to prepare them for their Certified Public Accountant designation and to ensure that they have strong analytical and communication skills to succeed in this challenging and rewarding profession.

15
Feb

All About Parramatta Chartered Accountants

Chartered accountants are accountants who are registered with a chartered body and have their own license to practise. The original chartered accountants were also the first lawyers to form an independent professional accounting body, originally established in Scotland in 18 54. They first made professional accounts of their clients and provided them with professional legal services. This was followed by other professional bodies that made professions out of chartered accountants. Have a look at Parramatta chartered accountants.

The most important area of chartered accountancy is taxation because it is here that one gets most of his or her job. Taxation involves the collection of all the money owed to the government and handling the money. In order to become a chartered accountant all that is needed is evidence of academic qualification, a law degree and certification. As for the specialization, the most sought after is financial accounting, which involves the financial reporting on all the activities related to business as well as income and expenses of a firm. Chartered accountants also help the organizations with tax planning and compliance and prepare all the tax reports.

A large number of chartered accountants work in the public sector. These include the NHS, schools, prisons and hospitals among many others. In the private sector, the most prominent is KPMG and Atkins. Chartered accountancy is also seen in the areas such as defense, energy, media, finance and insurance where there are huge expenses reported daily. Other than these, there are also firms engaged in various activities that require specialized accountancy to report on the financial performance. It is therefore, always beneficial to approach a chartered accountant for all your accounting needs.