What services does a CPA provide?

Answer 1

Public Accountants, also known as Certified Public Accountants, or CPAs, offer a range of valuable financial services to their clients and employers. To become a Certified Public Accountant requires not only an education in accounting and other business areas, but at least a year's experience working in auditing and accounting under the guidance of another Certified Public Accountant. Becoming certified as a public accountant, though, also means passing an arduous exam that is designed to ensure that anyone with the Certified Public Accountant designation is fully competent in all areas of tax, accounting, and auditing.

You are most likely to find Certified Public Accountants at a Certified Public Accountant firm, which is staffed with these qualified financial professionals. Certified Public Accountant firms serve clients of all sizes, including businesses, not-for-profit organizations, and individuals, and charge an hourly rate for their services. The rate is typically based upon the expertise of the accountant or Certified Public Accountant who is working on the client's engagement, as well as the scope of the work involved.

Certified Public Accountants are best known for providing auditing services to major corporations. A Certified Public Accountant firm can verify that financial statements are materially free of misstatements for organizations ranging from mom-and-pop shops that are applying for loans to international publicly held organizations that must be audited to continue being listed on various exchanges. Not only do Certified Public Accountants audit financial statements, but they also audit the results of specific events, such as lottery drawings or even glamorous awards shows, like the Golden Globes.

You may know Certified Public Accountants as the individuals who prepare your personal tax return. Whether your income tax return is a simple Form 1040 or a complex one that includes exotic investments and detailed gains and losses, a Certified Public Accountant firm has accountants who are knowledgeable about the tax laws that can help to reduce or even eliminate your tax liability. As tax laws changes, Certified Public Accountants become valuable allies in ensuring that you are able to take advantage of the credits and deductions that are available from both the Internal Revenue Service and from your state taxing authority.

Answer 2

The CPA firm provides some combination of two or more of four types of services: accounting, auditing, income tax planning and reporting, and management advising/consulting.