Evolutionary Changes in the World of Accounting

A certified public accountant wears many different hats during a typical day. A CPA performs a large number of different functions, which are not completely understood by many. One can find certified public accountants in many different sectors of the workforce.

ROLE OF CERTIFIED PUBLIC ACCOUNTANTS

The role of a CPA is vast. Individuals who decide to specialize in auditing provide the assurance of financial statements and their integrity. When in the position of an auditor, a CPA needs to guarantee that financial statements are free of any mistakes or misrepresentation. Additionally, certified public accountants cannot perform an audit within a company where they may have family members working in positions of authority. There can never be any hint of impropriety but more than that, it is unethical to do so.

CPAs can also work in the sector of tax compliance and consulting. Individuals who choose this field of practice need to stay current with tax laws and regulations, which typically means continuing education seminars every year. There as so many new tax laws ever year that without this continuing course work, they would quickly be behind the times.

Not only are they able to perform services for individuals, but they are also able to work in the field of corporate tax compliance as well. Keep in mind that CPAs do not have the right to make decisions for management, nor can they accept any type of gift or compensation from their clients, excluding payment for services.

Accountants and CPAs can find work in almost every industry all over the world. From the world of entertainment, to government offices, and the field of technology, all of these companies require financial services. CPAs can also work for non-profit agencies and in school systems. Interestingly, the FBI also employs certified public accountants to investigate suspected embezzlement.

Not only can accountants and CPAs work in any industry, but they can have clients from every part of the United States, no matter where their office is. As long as they are licensed by their home state, they can serve clients long distance. Files are easily transferred and phone and skype communication is all that is needed. Not all accountants take long-distance clients, but many thrive on it. An accountant in Boca Raton, Jeffrey D. Ressler & Associates, has had many out of state clients over the years, and works as well with them as he does those in his local area.

Most people who want a career in accounting start their journey in college. Obtaining a BA or Masters in Accounting is the first step in becoming a certified public accountant. After obtaining a job in the field of accounting such as an accountant manager or budget analyst, the next step should be to strive to pass the four-part exam to become a certified public accountant.

From that point, there are many lucrative positions to be found, such as a comptroller and Chief Financial Officer (CFO). Many large companies hire for this position and most will pay moving expenses and bonuses for new hires. Because these are important positions for a company, they typically use an outside firm to handle the initial hiring process.

CPAs are often known as defenders because it is their sole duty to defend the financial reporting quality for individuals, small businesses, and major corporations. Unlike accountants, CPAs are permitted to act as a “stand-in” in regards to communications with the IRS.

A highly competent CPA is considered invaluable. Their training in the field of accounting allows them to develop an objective approach and strategy to resolving any issues that a company or individual may encounter financially.

CPA’s Don’t Get Much Sleep During Tax Season

CPA’s have several seasons when they are extremely busy, often working around the clock. Many businesses and individuals pay their taxes on a quarterly basis, along with the fact that business returns are due a month before individual returns, and you have for some very busy seasonal work.

When business returns file for an extension, all the extensions come due at the same time, meaning even more work when those quarter taxes need to be filed. One has to admit that it takes a certain type of temperament to work with numbers all day, and then when you add the season aspect of overwork to it, many people would not choose that line of work. Thankfully, there are many who do.