You can also pursue management consulting, information technology, education, and financial planning careers. While these may not seem like typical professions for accountants, many industries rely on financial expertise. Discover what a CPA is, what they do, and how to become a certified public https://www.bookstime.com/ accountant. CPAs and accountants tend to focus on particular niches or specialties, such as small-business owners, high-net-worth individuals, or clients who work in certain industries.

• Another factor to consider if you live in an area that has a local or city tax, be sure that your tax preparer has dealt with the tax filings for these localities.
• Individuals with analytical, communication, and organizational skills may thrive in these roles.
• These analysts review financial data and create budgets for public and private organizations.
• Meeting all the education, experience, and examination requirements needed to obtain CPA certification will likely test the limits of your abilities.

Is there any other context you can provide?

Public accountants can work for individuals, companies, nonprofits, or the government. They may specialize in areas like taxation, financial reporting, consulting, auditing, and forensic accounting. They frequently work overtime during busy times of year, including tax season. While most states allow candidates to work in private personal accountant or public settings, not every jurisdiction accepts academic work experience.

• The Bureau of Labor and Statistics anticipates steady growth for accountants and auditors, including CPAs, with 6% projected job growth between 2023 and 2033.
• Approved applicants receive an authorization to test, which allows them to sign up for one part of the test within a certain number of months.
• She holds a Bachelor of Science in Finance degree from Bridgewater State University and helps develop content strategies.
• To receive a CPA license, applicants must pass the CPA exam administered by the National Association of State Boards of Accountancy.

Assists in Long-Term Financial Planning

The CPA exam can be challenging, often requiring months of studying. The four-part exam requires a minimum score of 75 in each section, and you must pass all sections within the same 18- to 30-month window. Prospective CPAs who meet this educational requirement and other state prerequisites can start the CPA exam process income summary through the National Association of State Boards of Accountancy (NASBA). One of the best ways to find someone you can have faith in right out of the gate is through referrals. Talk with people in your community to find a CPA that they have worked with and value, as this is more valuable than a good online review or Yelp rating. If you need extra semester hours after your degree, then a master’s degree is a viable option.

Benefits of becoming a CPA

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master’s in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology.

Looking For A CPA? 16 Tips For Finding The Right One

Calling in a CPA could make sense if you have complicated questions or need extra help. Certain life events — such as marriage, divorce, death, retirement, a home purchase or working with new types of investments — can make filing taxes more complex. Many small-business owners often choose to work with CPAs because of the nuance required to fill out their returns. There are also other tax preparers who may not hold these particular credentials but who have other types of educational training. CPAs use their knowledge of accounting and taxation to help businesses maintain their financial records. They can apply their expertise to multiple roles, including budget analyst, tax accountant, and auditor.