The CPA full form in finance is Certified Public Accountants. It refers to a highly qualified financial expert who passed a licensing exam conducted by the Board of Accountancy of any state.
These CPA exams follow the guidelines set by the American Institute of Certified Public Accountants (AICPA).
Examples of CPA
CPAs work in different industries and hold a diverse range of roles. Some examples are:
- Auditors
- Tax Advisors
- Financial Consultants
- Forensic Accountants
Core Responsibilities of a CPA
This qualified professional needs to wear many hats in the realm of finance. They are:
- Providing thorough tax-related services
- Offering detailed auditing work
- Ensuring regulatory compliance
- Developing strategies for tax planning
- Providing business advisory services
- Preparing annual tax filings
- Investigating financial misconduct
What is the Difference Between a CPA and an Accountant?
| Particulars | CPA | Accountant |
| Qualification | Certified | No specific certification |
| Exam | Pass the CPA exam (mandatory) | No mandatory exam |
| Expertise | Auditing, tax planning, preparation, and forensic accounting | Financial analysis and reporting, budgeting and forecasting |
How to Become a CPA?
Becoming a CPA involves several significant steps.
- You first need to earn a bachelor’s degree.
- The next step is to crack the CPA exam.
- Then, you have to acquire relevant work experience (around 2 years), typically in public accounting.
- After clearing all the mentioned requirements, you can apply for a CPA license in your state's Board of Accountancy.
Once you get the license, you need to keep it active by completing the CPE or Continuing Professional Education regularly.
When considering a CPA's salary, they generally earn higher compensation in India. Also, they get access to a broad range of career opportunities.
From public accounting firms and government departments to private corporations and nonprofit organisations, they can secure good positions in diverse workplaces.
