A Certified Public Accountant (CPA) is a trusted and experienced financial advisor serving businesses to meet their daily fiscal goals while offer individual consultancy as well. All CPAs are accountants but not all accountants are CPAs, quite puzzling but a true statement! If you’re US native and wish to be a CPA, passing a series of exams conducted by the American Institute of Certified Public Accountants is a must whilst there’re associated institutions in different countries.
Examination pattern is divided into four parts and you’ve several study options available such as online or in-campus classes. Renowned companies around the world offer their products for review as a part of practical exam which you must take and pass. CPAs work in various industries; both private and multi-national. Accountants must meet highest education standards, years of experience in the field and adherence to strict ethics to be a CPA. Let’s have a look at fundamental requisites!
All accountants are and must be expert at devising and scrutinizing financial reports with a knack to handle multiple clienteles. Job nature may vary from one company to another but the basic concept remains constant. Providing accounting services, preparing financial statements, reporting balance sheets and PNL statements are a few typical duties. CPAs also perform general auditing for public listed companies and prepare stockholders reports.
At-least a bachelor’s degree with majors in accounting or finance is crucial while employers give priority to those who’ve attained Master’s degree as well. Accounting and CPA courses in Dubai comprise of taxation, cost accounting and auditing with a briefing of Managerial accounting for advance learners. Additional subjects such as statistics, business and labour laws, IT, marketing and economics whereas liberal arts courses like social studies, science and languages are required as well.
Licensing & Certification
Licensing requisites for CPA varies from one state to another as each has an accountancy board responsible for licensing these accountants. Applicants need to take and pass Uniform CPA Examination which is a comprehensive four-part exam managed under American Institute of Certified Public Accountants within USA. Around 150 college credits or credit hours in general must be completed for eligibility. Once you’ve the certificate, continue with the education and relevant courses to retain the title.
CPA certification is a proof that you possess in-depth knowledge of accounting principles and a symbol of professionalism plus commitment to your career. If you’re already designated as a CPA, several job opportunities would open doorways while you can demand a higher salary boldly but don’t be arrogant!
A few Concerns
Pathway to be a CPA is quite stressful and challenging as candidates are often involved in just studies, there’s simply no time for fun and entertainment. A mind with constant strategic thinking and an ability to comprehend complex financial concepts is required or how you would say “the most serious mind”! Statistical results show that nearly half or less from the entire batch completes 150 credit hours and emerge successful so the intensity of studies is quite clear!
Asides outstanding mathematical and accounting skills, you need to be a good researcher, good communicator and a listener. Be versatile, team player, self-motivated however keep your focus undiversified!
These are a few requisites and career objectives of CPAs. Understand carefully before enrolling in the certificate program!