Business, Legal & Accounting Glossary
An individual who has passed the Uniform CPA examination administered by the American Institute Of Certified Public Accountants, and who has received state certification to practice accounting. To achieve this designation, an individual usually has to complete 5 years of education, and a certain degree of work experience. Additionally, once an individual becomes a CPA, they typically must complete a certain number of hours of continuing education each year.
an accountant who has passed certain examinations and met all other statutory and licensing requirements of a United States state to be certified by that state.
A CPA, the common acronym for Certified Public Accountant, is an accountant licensed by a state board to engage in public accounting. The requirements to become a CPA vary by state, but each CPA candidate must pass the Uniform CPA Examination and fulfil certain experience requirements. After gaining certification, a CPA is required to take continuing professional education courses to keep current on developments in the field. Both a CPA and a non-CPA can offer services in a wide range of accounting areas — such as tax preparation, forensic accounting, and estate planning — and often perform similar duties. Only a CPA, however, can express an opinion on whether the financial statements of a public company present fairly its financial position. Thus public companies commonly hire a CPA firm to prepare the annual 10-K required by the Securities and Exchange Commission This form provides a comprehensive overview of the company’s business and financial condition and includes audited financial statements.
Certified Public Accountant
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This glossary post was last updated: 11th August, 2022 | 0 Views.