CPA vs Accountant
CPA or Certified Public Accountant and Accountant perform almost the same duties. But the fact is that all accountants cannot be Certified Public Accounts whereas all CPA’s are accountants.
An accountant is a person who looks after financial records. An accountant would have good knowledge about owner’s equity, cash flow, chart of accounts and balance sheet and how these are going to affect the business.
An accountant is responsible for the accounting works of an individual or a business firm. It is the accountant’s responsibility to issue financial reports. Accountants need not be certified professionals.
On the other hand, CPA is a professional who is regulated by the state. An accountant can become a CPA only if he passes certain tests conducted by the respective Institutes of a country. Though the requirements to become a certified Public Accountant varies from one state to another, the basic thing is that one has top undergo rigorous tests to qualify to become a certified profession.
When comparing the works of both the professions, an accountant cannot do the work that a Certified Public Accountant can do.
An accountant cannot do the same work as a Certified Public Accountant whereas a CPA can do all work of the accountant. Unlike the Accountant, the Certified Public Accountant has a higher position in the financial and business circles. It is the Certified Public Accounts who are capable of advising on the financial aspects of a company. The CPA are trusted more than an accountant in financial matters. Even if an accountant’s views are valued, the last word is always from a Certified Public Accountant.
More than passing the test, the CPAs have to flow a strict code of ethics. Every two-year, the CPAs should have to complete 80 hours of professional education to keep up the new trends in accounting.
Summary
1. All accountants cannot be Certified Public Accounts whereas all CPA’s are accountants.
2. An accountant cannot do the work that a Certified Public Accountant can do.
3. It is the Certified Public Accounts who are capable of advising on the financial aspects of a company.
4. The CPA are trusted more than an accountant in financial matters.
5. Even if an accountant’s views are valued, the last word is always from a Certified Public Accountant.
6. CPA is a professional who is regulated by the state.
7. It is the Certified Public Accounts who are capable of advising on the financial aspects of a company more than an accountant.