The Career Of A Professional Accountant

An Enrolled Agent (EA) is a tax professional authorized by the U.S. Government to represent taxpayers in matters concerning the Internal Revenue Service (IRS). EAs must pass an examination demonstrating ability or have sufficient experience as an IRS employee, as well as passing a background check, before receiving the designation. Enrolled agents first appeared in 1884 because of issues arising with Civil War loss claims.

5) Which of the specialty areas do you think you would most like to work in? Why?

Accountants are responsible in analyzing and assessing the revenue, expenses, reporting financial matters and giving advice about the financial health of their employer. They help their client to know the best way to run a business by tracking and analyzing where does the money of the business go. They also give suggestions on where money could be made and advice in budgeting the money in the business.

-Certified Public Accountant is the highest level for a tax professional. There are many bookkeepers and accountants, but only a small percentage of them are CPAs. Regular accountants and bookkeepers, regardless of how nice and pleasant they may be, can not, for example, represent the client with IRS, should any problem occur. Since many of the clients are successful

Therefore, if you are studying accounting in college you should have an idea of kind of accounting field you wish to enter. There is a quote that said, “CPA is always an accountant, but not all accountants are CPA.” Hence, there are a number of accountants who never pass the CPA exam and though they can perform a variety of accountancy task, they are not allowed to perform certain tasks that only a CPA can do. Hence, no matter if you are, a certified accountant or not you there will be a place for you in the accounting field. The larger companies will go out and hire a CPA (Certified Public Accountant) in order to maintain some form ethics within the company. However, the small businesses might hire an accountant to perform duties as a managerial accounting, cost accounting, and financial accounting.

The profession of accounting is a one that is highly regulated, due to the knowledge and power each accountant possesses. Although an accountants duties differ from one position to the next, the main sectors that accountants pursue are auditing or taxation. Auditing is ensuring the public that the information listed on the financial statements of public companies is free of material misstatements. While taxation is helping people or companies file their tax returns to the federal government or offering tax advice. In the world of auditing, you either follow the Public Company Accounting Oversight Board (PCAOB), for public company audits, or the American Institute of Certified Public Accountants (AICPA), for other entities

a. According to Dictionary.com, an accountant is, “a person concerned with the  maintenance and audit of business accounts and the preparation ofconsultant reports in tax and  finance”. (Dictionary.com, 2013)

Describe at least two (2) career options someone with an accounting education can pursue. Be sure to reference sources such as the Bureau of Labor Statistics and the American Institute of Certified Public Accountants.

One of the most misunderstood job positions in the United States is accounting. Accounting is often described as a dull job that requires a mastery in crunching numbers. Despite accountings misconceptions, it is often considered one of the most satisfying jobs. One particular accounting title, Certified Public Accountant (CPA), is one of the most popular qualifications accountants seek out. To organize and represent CPAs, the American Institute of CPAs (AICPA) was formed. Today, AICPA is informing the public about accounting and uses the slogan “Start Here, Go Places.”

.01 As professionals, certified public accountants perform an essential role in society. Consistent with that role, members of the American Institute of Certified Public Accountants have responsibilities to all those who use their professional services. Members also have a continuing responsibility to cooperate with each other to improve the art of accounting, maintain the public 's confidence, and carry out the profession 's special responsibilities for self-governance. The collective efforts of all members are required to maintain and enhance the traditions of the profession.

Real estate agents are generally independent sales employees who provide their services to licensed brokers on a contract basis.

Another topic of that exposes this topic is the treatment of competence. Both the SSTS and Circular 230 stress the importance of having a competent professional practicing due care for all clients. The AICPA denotes a competent person as “the member or member’s staff possesses the appropriate technical qualifications to perform professional services” (AICPA Code, pg.142). Circular 230 describes a competent person as “practice requires the appropriate level of knowledge, skill, thoroughness, and preparation necessary for the matter” (Circular 230, pg.25). These definitions are rather similar, as you must possess a specific skill set, usually you are deemed qualified when obtaining your CPA license, to practice as a tax professional. Both of the codes are rather vague, as they do not specify what constitutes as having “appropriate technical qualifications” or “appropriate level of knowledge”. A new CPA might be “qualified”, but might lack the knowledge that a tax senior possesses. Therefore, both Circular 230 and the AICPA define competence similarly, but both present the problem of

Chartered accountants are therefore expected to display professionalism in their work so that they are able to maintain public confidence in the companies. This is a result of the accountants reporting the true performance of the companies they represent (Radebaugh & et al, 2012).

There are four main fields of accounting and auditing listed by the Bureau of Labor Statistics: "public accounting, management accounting, government accounting, and internal auditing." CPAs are not limited to a narrow list of activities, in fact public accountants typically work with a "broad range of accounting, auditing, tax, and consulting

Following the undergraduate degree, an accounting student would choose an exclusive area to specialize in and work towards a completion of an additional year in university to finalize the 150 credit hours required in accounting to be eligible to sit for the Certified Public Accounting board exam. The 150 credit hours are needed to obtain the required body of knowledge and to develop the skills and abilities needed to be a successful CPA. After the theory portion of the educational experience is completed, the most important aspect becomes practical experience. Practical experience is what drives the market. The American Institute of Certified Public Accountants requires that either a one tier or two tier systems is required to obtain the CPA designation. This requires that relevant work experience is needed to become certified. This hands on experience helps to position a potential certified public accountant for a long and successful career. This professional curriculum is very detailed and requires a lot of individual steps entailed to reach the point of designation. If it were made into a professional school these segregated steps combined together would not only help to make things simpler, but it would allow the accounting profession to be similar to the curriculums of medicine, pharmacy and law. With an undergraduate degree, graduate theory and practice for four