Thin Line of Difference between Accountant and Certified Public Accountant
Public accountancy refers to the investigation as well as auditing of accounting records. It also includes the preparation as well as reporting on profit and loss accounts, financial statements and balance sheets. Therefore, a public accountant is an individual who carries on public accountancy practice as his/her profession. Moreover, the individual also offers his/her services to the public through independent practice as a licensed public accountant or with an organization.
Generally, a Certified Public Accountant is the professional who works independently or as a part of an accounting firm. However in the present business scenario, these professionals are employed by even leading companies for performing crucial accounting activities. The Certified Public Accountants are responsible for monitoring as well as keeping a track of financial records of a business or an individual.
Becoming a Certified Public Accountant (CPA) is certainly a challenging and rewarding professional accomplishment. Moreover, obtaining a CPA certification would not have symbolized the zenith of professional success in the field of accounting if it had not been challenging and difficult. The Certified Public Accountant examination is a difficult test. However, the certification is extremely useful and offers lucrative career options to the certified individuals.
In case an individual fails to pass in the Certified Public Accountant exam, he/she would be required to wait for a long time to reappear in the test. This also prevents the individual from obtaining the certification as well as from practicing as a licensed public accountant. Generally, an individual is prohibited from using the designation of a Public Accountant or a Certified Public Accountant till he/she passes the examination. Apart from the Certified Public Accountants, any firm that is registered as a public accounting practice should make use of the term licensed public accountant.
Although the field of accounting offers a wide variety of career options, having a certification like that of a Certified Public Accountant offers an edge over other accountants. This is because organizations often seek Certified Public Accountants for various job positions. Hence, the possibility of a bright career in the field of public accounting makes it an immensely popular career choice for several students.