consulting, information technology consulting, tax planning and preparation, personal financial planning, valuation services, elder care services, and compliance. The consumer often expects a CPA to be proficient at many specializations, even those just indirectly related to the traditional role of an accountant. The CPA's role has been quickly expanding, and one leading CPA proposed that the term CPA more appropriately stand for Certified Professional Advisor. The CPA profession is currently grappling with how best to define the CPA in today's world and whether to change the moniker CPA. One preliminary recommendation of the AICPA for a new term to encompass CPAs worldwide has met with much criticism within the industry. Stay tuned for further developments.
One thing is clear - the CPA is a very valued and trusted advisor and a professional who has not only kept up with the rapidly changing world around us, but who has helped shape it.
CPA vs Accountant
A CPA is different from an Accountant who is not a CPA in many important respects.
By Linda Jenkins O’Rourke
Linda Jenkins O’Rourke, CPA, PA
- Higher level of knowledge and experience with serving clients.
- Greater experience with issues involving independence and objectivity.
- Deeper understanding of matters which are not traditionally in the domain of accounting, such as personal financial planning and information technology consulting, but which are related to accounting and serving clients.
- Credentials
- More experience working with other professionals such as attorneys, brokers, agents, etc.
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financial decisions, or a thousand other money-related matters. But operating on your own, without guidance, is like putting an addition on your house without the help of an architect, or carpenter, or electrician, or plumber, or painter. You could learn to do the tasks, but probably not with as much skill as the experts, and the years necessary to acquire the knowledge and experience would make anticlimactic the completion of the task. Even if you could finish the house addition within enough time to enjoy it, it might not be built well enough to stand up over time. Also, two heads are always, well almost always, better than one. If you are a smart independent self-starter, try this approach - do all the research, lay the plans, assemble the team if others could be involved, and then call in the CPA to be quarterback, or at least your guide
If you are an individual or a business and you need to choose a CPA, there are many guidelines which might be helpful. They fall into these categories:
1. Determine your needs and desires, immediate and narrow, and longer-term and broader and make an assessment of your own particular circumstances, quirks and preferences
2. Gather several candidates; using various methods such as (a) referrals from close associates (b) directories such as CPAdirectory.com (c) searches among information sources such as industry publications, articles, internet search engines, etc.
3. Match what you need and want from #1 with the candidates from #2 for an initial short list of candidates to interview.
4. Conduct interviews and use the article Choosing the Right CPA for guidance as to particular questions and attributes to consider. 5. Narrow the list based on subjective considerations such as chemistry, attitude, impressions, etc., and return to step #1 if not fully satisfied.
See “CPA vs Accountant”
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