Certified Public Accountant Job Description, Skills, and Salary
Get to know about the duties, responsibilities, qualifications, and skills requirements of a certified public accountant. Feel free to use our certified public accountant job description template to produce your own. We also provide you with information about the salary you can earn as a certified public accountant.
Who is a Certified Public Accountant?
Public accounting is a term that refers to accounting firms that assist a variety of clients—businesses and individuals alike—in preparing financial documents and statements. Additionally, public accountants audit client statements and prepare client tax returns. By contrast, a private accountant is dedicated to serving the unique needs of a business or other single entity. Public accountants hold a variety of positions within public accounting firms, including tax consultants and senior tax managers. Certified public accountants are employed by public accounting firms (CPAs). CPAs possess a higher level of accounting expertise, and as a result, many firms justify charging their clients more. Additionally, public accounting firms can specialize in areas such as healthcare auditing or sports accounting.
A certified public accountant (CPA) is a trusted financial advisor who has met the stringent requirements for licensure by their state Board of Accountancy and is authorized to perform duties such as tax preparation, government audit preparation, and client representation before the Internal Revenue Service, bookkeeping, and financial planning.
Certified Public Accountants can work for large corporations, small businesses, nonprofit organizations, or in an independent or group practice serving individuals, small groups, and businesses.
CPAs assist in the management of expenses, investments, taxes, audits, and financial planning and goal attainment. A CPA license is the most sought-after accounting credential and opens up numerous career opportunities, including working for individuals, small and large businesses, as a chief financial officer, or in government or non-profit organizations. A CPA is qualified to perform auditing and taxation services that a regular accountant is not qualified to perform, such as auditing public companies, signing tax returns, and submitting reports to the Securities and Exchange Commission. They are regarded as financial authorities.
Certified public accountants are licensed to provide attestation services to investors, such as financial statement audits, to assist them in determining an organization’s financial health. Certified public accountants’ advisory services assist businesses in moving forward through strategic financial planning that results in the best business growth decisions. Certified public accountants can also provide financial advice to individuals and families, as well as assistance with taxes and other financial services.
Accountants must obtain a certification as certified public accountants. A bachelor’s degree in accounting with a minimum of 150 hours of education is required. Additionally, you must pass a four-part examination and have between one and two years of public accounting experience.
After obtaining your certified public accountant license, you must commit to continuing education in your field. Additionally, you must adhere to a stringent Code of Professional Conduct, which requires you to demonstrate integrity, competence, objectivity, and independence.
Certified Public Accountant Job Description
Below are the certified public accountant job description examples you can use to develop your resume or write a certified public accountant job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
The duties and responsibilities of a certified public accountant include the following:
- Creating and filing tax returns on a local, state, and federal level
- Assisting clients in minimizing their tax liabilities
- Managing the financial operations of clients, including cash flow, budgeting, general accounting, and financial planning.
- Managing a team of accountants or a department of accountants
- Advising clients on appropriate investment strategies
- Planning your estate
- Consulting with clients to identify issues or risks and assisting them in effectively managing their businesses
- Maintaining and organizing financial records, both digital and physical.
- Conducting thorough examinations of all business transactions and generating accurate reports based on your findings.
- Coordinating income tax research and planning with employees.
- Conducting periodic audits to ensure that financial records, expenses, and savings are accurate.
- Contributing to the budgetary process.
- Informing management on a regular basis of the company’s financial position and making recommendations to improve results.
- Ascertaining that you are up to date on industry changes and regulatory changes.
- Resolve tax and accounting issues.
- Checking financial records for inaccuracies and balancing them
- Ascertaining that projects are completed within budget
- Publish financial statements that have been audited
- Supervising accountants and other financial specialists
- Making budgetary and other financial recommendations
- Assisting with external audits of the company
Qualifications
To become a CPA, the following education, certification, and skills are required:
Education
A bachelor’s degree is required of aspiring certified public accountants. Occasionally, additional courses are required, as some states require 150 semester hours to sit for the CPA exam, while a traditional bachelor’s program requires 120. CPAs may satisfy this requirement by taking additional classes or earning a master’s degree. Numerous universities offer a combined five-year bachelor’s and master’s degree in accounting or finance, which is an excellent option for aspiring CPAs.
Accounting principles, business ethics, management, finance, statistics, and economics are typically required courses. Advanced accounting courses cover a variety of accounting-related topics, including tax planning, financial controls, accounting theory, and cost accounting.
Once a person obtains a CPA license, they must also complete continuing education to maintain their license regularly. Different states have different requirements, but a typical standard is up to 40 hours per year.
Training
Apart from education, CPAs must complete extensive training before earning their license. They must be familiar with all of the accountant’s standard responsibilities, including the use of accounting software and spreadsheets, the preparation of tax returns, auditing practices, and the verification of financial documents. State requirements vary and can range from six months to two years of accounting experience before applying for an official CPA license. This experience can be obtained in either a business’s accounting department or a private or public accounting firm.
Certifications
To become a certified public accountant in the United States, accountants must meet CPA licensing or certification requirements, but because each state has its governing board, these requirements vary.
Typical requirements include the following:
- CPA Examination
The CPA exam is divided into four sections by the American Institute of Certified Public Accountants (AICPA). After passing the first exam, applicants have 18 months to complete the remaining three. The exams are graded on a scale of zero to one hundred, and candidates must earn a minimum score of 75 to pass. To be eligible to sit for the exams, an applicant must first demonstrate to the state board that they have met all educational requirements. Auditing and attestation, financial accounting and reporting, regulation, and business environment and concepts are the four exams. They are not required in any particular order. After passing the exams, a CPA license is not issued until the required work experience is also met.
- Exam for CPA Ethics
Certain states require an additional ethics examination, which is also administered by the AICPA. This is typically taken online following successful completion of the CPA exam.
Candidates can apply to their state board for an official CPA license after passing the required exams and accumulating the required work experience. The license is not free, and it must be renewed annually through continuing education. Consult your state board of accountancy to determine the specific requirements in your area.
CPAs can also enhance their skills and credentials by becoming members of professional organizations such as the International Federation of Accountants, the Institute of Management Accountants, the National Society of Accountants, the American Institute of CPAs, and the Institute of Internal Auditors, and the American Accounting Association. These organizations frequently offer opportunities for continuing education.
Essential Skills
- Leadership Skills
CPAs frequently serve as managers of accounting departments or as senior employees of accounting firms. They may be responsible for supervising a team of accountants and thus require strong leadership skills to oversee and direct the accounting team’s activities.
- Clear written and verbal communication skills
These skills are required of a CPA to submit timely reports and communicate with clients about critical financial matters.
- Integrity
These professionals must adhere to strict ethical standards, as they work closely with their clients’ financial information. CPAs must maintain their integrity and honesty to earn their clients’ trust.
- Time management
CPAs frequently face strict deadlines for large and important projects, such as the timely filing of tax returns or the submission of quarterly financial reports. They must be capable of planning, executing, and submitting projects within a specified timeframe.
- Technical skills
Apart from regularly utilizing email, spreadsheets, and accounting software, CPAs must be familiar with emerging technology to comprehend its impact on their clients’ businesses and financial prospects.
- Analytical skills
CPAs must be able to compile, analyze, and interpret data, which includes comparing reports and comprehending complicated spreadsheets.
How to Become a Certified Public Accountant
- Become familiar with the minimum requirements established by your state board.
When you decide to pursue a career as a CPA, it is critical to research the minimum requirements for eligibility to sit for the CPA exam in your state. Consult your state’s licensing board to ensure that you select the appropriate major and coursework during your college years.
- Acquire a degree
To become a Certified Public Accountant, you must have a bachelor’s degree in accounting or finance. Candidates with a bachelor’s degree in another related field, such as business, may sit for the CPA exam in some states, but eligibility varies by state. Typically, candidates must have a minimum of six core credit hours in accounting, auditing, and taxation, as well as business-related courses such as finance, management, and business law.
Most states require candidates to have a minimum of 150 college credit hours, which is 30 hours more than a standard bachelor’s degree. As a result, many CPAs pursue master’s degrees, though some accounting programs offer a coursework track that allows you to earn additional hours while completing your bachelor’s degree.
- Acquire pertinent experience
Most states require candidates to have at least one year of professional, full-time work experience in an accounting-related role. The amount of work experience required and the types of positions that qualify are set by your state’s Board of Accountancy and vary by state. Many states, however, require a minimum of two years of work experience in a position reporting directly to a licensed CPA.
- Apply to sit for the CPA exam.
Before sitting for the CPA exam, you must apply with the state board. Fees vary by state but typically range between $50 and $200. Because the application fee is non-refundable, you must meet all eligibility requirements for sitting for the CPA exam before applying.
Once your application to sit for the CPA exam is approved by the State Board of Accountancy, you will receive a document called a Notice to Schedule (NTS). The NTS will assist you in scheduling appointments for each section of the CPA exam. After passing the first section of the CPA exam, you have 18 months to pass the remaining sections.
- Study for the CPA examination
The Uniform CPA Examination is divided into four sections: auditing and attestation (AUD), financial accounting and reporting (FAR), regulation (REG), and business environment and concepts (BUSINESS) (BEC). The exam is divided into four sections, each of which is a four-hour test.
Because the exam is difficult, it is critical to prepare thoroughly for each section before taking it. You must prepare intensively for each section of the CPA Exam and ensure that you are prepared. Candidates should consider concentrating their efforts on no more than one or two test sections at a time due to the extensive preparation required for each section.
Each section of the CPA Exam is divided into “testlets” of questions, each of which contains either task-based simulations or multiple-choice questions. The test is scored using a weighted scoring system, which means that you will earn more points for more difficult questions or tasks. The business environment and concepts section of the test will also assess your written communication skills through the use of word processing software to write a client letter.
- Pass the AICPA’s Uniform CPA Examination and the AICPA’s Ethics Examination.
You must pass both the Uniform CPA Examination and the Ethics Examination to become a Certified Public Accountant. Both examinations are developed and graded by the American Institute of Certified Public Accountants (AICPA). The CPA Exam is graded on a scale of 1-99, with a passing score of 75 in each section.
After passing the CPA examination, you will receive a certificate. It is critical to understand that the certificate does not constitute a license to practice as a CPA, and you must complete all other requirements to obtain your license.
- Acquire and maintain a license
After meeting all requirements and passing each section of the Uniform CPA Examination and the Ethics Examination, the only remaining step is to apply for your license. This typically entails paying a licensing fee and demonstrating that you have met all requirements. Your license will then be mailed to you. Once licensed as a CPA, you must complete continuing education courses annually to keep your license current.
Where to Work as a Certified Public Accountant
Although the majority of certified public accountants work in offices, they can also work from home. They may be required to travel to court as an expert witness or to other businesses to conduct audits. They typically work full-time office hours but may be required to work overtime during peak seasons such as tax season.
While CPAs spend some time meeting with clients, they spend the majority of their time in their offices, working on computers and paper forms. Apart from having strong computer skills, they should be familiar with standard office equipment such as phones and copy machines.
Certified Public Accountant Salary Scale
The average salary that a Certified Public Accountant earns in the United States is $80,633 per year.