A Certified Public Accountant (CPA) is vital to any business. Both small and large companies rely on CPAs and their extensive knowledge of financial management to budget, audit, and analyze the company’s financial status. CPAs play a diverse and complex financial management role, and are in charge of auditing and checking all financial reports. It is their task to ensure all reports are accurate and do not have discrepancies. The CPA job description also includes other duties like bookkeeping and financial planning.
CPA Job Description: Duties and Responsibilities
There are several responsibilities performed by a CPA. Generally, CPAs maintain and audit company financial records. They are knowledgeable in bookkeeping, taxes, government audits, and financial planning. It is the CPA who oversees budgets and business management, ensures the accuracy of financial records, and checks whether all investments, expenditures, and revenues are filed without discrepancies.
CPAs provide general financial management assistance to businesses. They research and analyze the company’s financial reports. They create a concrete financial plan wherein they offer suggestions on how the company could save money. CPAs follow a strict code of ethics and give their clients ethical financial advice, which guarantees financial stability for the company.
CPA Job Description: Skills and Education
Being a math geek is not necessary to be a good CPA. As long as you are comfortable working with numbers, you can be successful in this field.
Aspiring CPAs are required to have a bachelor’s degree in accounting, finance, or another related field. More prominent companies and corporations often require a master’s degree. Naturally, they should’ve passed the CPA exam. Work-related experience is always an advantage.
CPAs are required to take over 120 hours of continuing education courses. It should be done once every three years. This is to keep them updated with any changes in their profession.
New graduates must take the CPA exam first before practicing accounting. Also, the candidate should have completed over 150 hours of college coursework.
In order to be a successful CPA, a candidate should have excellent communications skills, can relate to people, and must demonstrate superior academic achievement. Computer literacy works as an advantage, as well. CPAs must be patient and extremely accurate, especially when dealing with numbers. You must have high ethical standards, honesty, and integrity.
CPA Job Description Continued
CPAs work about 35 to 40 hours per week in an office-type setting. They generally work during regular business hours. However, candidates must also be prepared to work overtime, especially during tax seasons. This position involves frequent client contact and travel.
There are plenty of job opportunities for CPAs. Aside from businesses and corporations, a CPA could work for Forensic and Fraud Accounting, which deals with investigations related to business issues. Some CPAs get promoted to higher positions, which could reach as high as the CEO position.
According to the BLS, the salary depends on the CPA’s educational background, years of experience, and the company they work for. CPAs generally earn about $50,770 per year. Those with one to three years of experience may be paid lower. And those working for large firms are paid higher. Partners in public accounting firms can earn around $175,000 annually. CPAs are given benefits, which includes paid vacations, health and life insurance, and pension plans.
CPA Job Descriptions: Specializations
There are different categories with the CPA field. So, if you’re undecided of which arena to get into, here’s a breakdown of each job description:
The role of an internal auditor is to evaluate and organize their company’s business by reviewing financial data, control processes, and problems with risk management.
A tax account is responsible for managing tax records, finishing tax returns, compliance, tax law and restrictions, and helping businesses with tax strategies.
Financial analysts help companies by reviewing their finances, finding data that’s hindering investment plans, preparing reports to show technical information, and assisting management with financial advice.
An account manager’s job is to put together financial documents and budgets, examine and correct accounting procedures, and speak with the management teams to assist them with making smart business decisions.
Information Technology Auditing
IT auditors review the technological side of businesses by checking compliance with tax laws and restrictions, testing systems for security, and compliance with regulations.
Final Thoughts On The CPA Job Description
Hopefully, this CPA job description article helped you out. The great thing about working in finance is that there will always be a need for financial advice. As long as you have education and experience in the field you apply for, landing a job should be a breeze.
However, managing finances is a big deal and it requires the ability to work under stress and good communication skills. It’ll be your job to explain finances to people who don’t understand it in depth. The better you can communicate, the easier it’ll be for everyone to get on the same page. If you think you have what it takes, don’t hesitate to apply for the job!
See also: Accountant Job Description