CPA - Certified Public Accountant
The Certified Public Accountant (CPA) is the highest accounting credential in the U.S. and is similar to the CA Qualification in India. The CPA title is awarded by the American Institute of Certified Public Accountant.
U.S. CPA is an individual with thorough and complete knowledge of Accounting principles of the U.S. So, if you want to work in or for U.S. firms, understanding its accounting laws is essential.
U.S. CPA members and students play a vital role in both 'practice' and 'industry' in sectors such as financial services, banking, manufacturing, construction, education and consultancy.
The services of U.S. CPA are required in all areas of the business world
- Assurance and Attest Services
- Financial Accounting
- Management Consulting and Performance Management
- Information Technology (especially as applied to accounting and auditing)
- Corporate Finance (Merger & Acquisition, initial public offerings, share and debt issuing)
- Financial Planning
- Financial Analysis
- Venture Capital
- Forensic Accounting (preventing, detecting, and investigating financial frauds)
- Tax Preparation and Planning
- Estate Planning
- Corporate Governance
- Income Tax
While some CPAs are generalists and may offer a range of services (especially those in small practices) many CPAs specialize in just one area and may provide only one of the services listed above.
An UPDATE on AICPA membership
Source: Wikipedia - http://en.wikipedia.org/wiki/Certified_Public_Accountant#AICPA_membership
AICPA members approved a proposed bylaw amendment to make eligible for voting membership individuals who previously held a CPA certificate/license or have met all the requirements for CPA certification in accordance with the Uniform Accountancy Act (UAA). The AICPA announced its plan to accept applications from individuals meeting these criteria, beginning no later than January 1, 2011. Individuals eligible to join as regular members are those who hold or previously held a CPA certificate/license/permit that was not revoked because of disciplinary action or those who meet the UAA requirements of 150 hours of college/graduate education passed the uniform CPA examination and have at least 1 year of experience. This opens up regular membership to individuals who chose not to apply for a license or permit because they are not employed in public practice (e.g. business, industry, education, and government).
AICPA members approved a proposed bylaw amendment to make eligible for voting membership individuals who previously held a CPA certificate/license or have met all the requirements for CPA certification in accordance with the Uniform Accountancy Act (UAA). The AICPA announced its plan to accept applications from individuals meeting these criteria, beginning no later than January 1, 2011. Individuals eligible to join as regular members are those who hold or previously held a CPA certificate/license/permit that was not revoked because of disciplinary action or those who meet the UAA requirements of 150 hours of college/graduate education passed the uniform CPA examination and have at least 1 year of experience. This opens up regular membership to individuals who chose not to apply for a license or permit because they are not employed in public practice (e.g. business, industry, education, and government).
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