certified public accountant
Tax filing professional
A certified public accountant is an accountant who has passed a standardized examination and met state licensing requirements.
The designation, usually abbreviated CPA, authorizes the holder to perform audits, sign tax returns, and represent clients before the IRS.
Our CPA found several deductions we'd missed.
In the UK, the equivalent credential is chartered accountant.
Federal tax collector
- deductionsConclusions from reasoning
- filingStoring documents systematically
- returnsProfits from investments
- 1040Annual federal filing
e-file · withholding · exemptions · credits · brackets · itemize · W-2 · W-4
Methodical assessment or review
- internal controlsOrganizational oversight procedures
- assuranceFirm promise or certainty
- reviewCritical written assessment
- verificationProving something accurate
inspection · financial statements · due diligence · forensic · materiality · risk assessment · attestation · independent
Licensed accounting professional
- licensureOfficial permission to practice
- accreditationOfficial quality approval
- state boardRegional administrative authority
- continuing educationOngoing professional coursework after graduation
designation · Big Four · professional standards · peer review · malpractice insurance
Moral soundness and consistency
- fiduciaryAgent bound by loyalty
- confidentialityQuality of protecting secrets
- objectivityFreedom from personal bias
- independenceFreedom from external control
professional conduct · due care · conflict of interest · client trust · whistleblowing · fraud detection
Recording financial transactions systematically
- ledgerFinancial record book
- balance sheetAssets-liabilities-equity report
- income statementPeriodic profit-loss report
- cash flow statementReport of money entering, leaving
GAAP · journal entries · reconciliation · accrual · depreciation · amortization · trial balance · general ledger
Giving expert advice professionally
- strategyPlanned approach to goals
- guidanceAdvice for decisions
- planningArranging for future events
- analysisMethodical study of parts
recommendations · financial planning · business valuation · estate planning · retirement planning · wealth management · succession planning · mergers
IRS
Federal tax collector
- deductionsConclusions from reasoning
- filingStoring documents systematically
- returnsProfits from investments
1040 · e-file · withholding · exemptions · credits · brackets · itemize · W-2 · W-4 · 1099
examination
Methodical assessment or review
- internal controlsOrganizational oversight procedures
- assuranceFirm promise or certainty
- reviewCritical written assessment
verification · inspection · financial statements · due diligence · forensic · materiality · risk assessment · attestation · independent · findings
CPA
Licensed accounting professional
- licensureOfficial permission to practice
- accreditationOfficial quality approval
- state boardRegional administrative authority
continuing education · designation · Big Four · professional standards · peer review · malpractice insurance
integrity
Moral soundness and consistency
- fiduciaryAgent bound by loyalty
- confidentialityQuality of protecting secrets
- objectivityFreedom from personal bias
independence · professional conduct · due care · conflict of interest · client trust · whistleblowing · fraud detection
bookkeeping
Recording financial transactions systematically
- ledgerFinancial record book
- balance sheetAssets-liabilities-equity report
- income statementPeriodic profit-loss report
cash flow statement · GAAP · journal entries · reconciliation · accrual · depreciation · amortization · trial balance · general ledger · double-entry
consulting
Giving expert advice professionally
analysis · recommendations · financial planning · business valuation · estate planning · retirement planning · wealth management · succession planning · mergers · acquisitions
- accountingbookkeeping, ledger, balance sheet, general ledger, auditing
- taxationtax, income tax, sales tax, tax return, tax refund
certified public accountantbookkeeper
Financial records maintainer
layperson · accounting clerk · accounts payable clerk · tax preparer
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