Hello and welcome back, and now we're going to discuss some of the business  opportunities once you want to become an accountant. These include public  accounting, management, accounting government or other not for profit,  accounting and higher education. The demand for accountants will likely  increase dramatically in the future. This increase is greater than any other  profession you may want to consider accounting as a career. What is public  accounting? Public accounting firms offer professional accounting and related  services for a fee to companies other than organizations and individuals. An  accountant may become a Certified Public Accountant by passing an exam  prepared and graded by the American Institute of Certified Public Accountants.  This exam is administered by computer. In addition to passing the exam, CPA  candidates must meet other requirements, which include obtaining a state  license. These requirements vary by state. A number of states require a CPA  candidate to have completed specific accounting courses and earned a certain  number of college credits, five years of study. In many states, you must work a  certain number of years in the public accounting industry or government and  lived in that state a certain length of time before taking the CPA exam. As of the  year, 2000 5 years of course work were required to become a member of the  AICPA after a candidate passes the CPA exam, some states called one tier  states insist that the candidate meet all requirements before the state grants the  CPA license. I'm sorry, the CPA certificate and the license practice. Other states  called two tier states issue the CPA certificate immediately after the candidate  passes the exam. However, these states issue the license to practice only after  all of all requirements have been met. CPAs who want to renew their license to  practice must stay current through continuing, continuing professional education programs, and must provide that they have done so. No one can claim to be a  CPA and offer the services normally provided by a CPA unless that person holds an active license to practice the public accounting profession. In the United  States, consists of the big four international CPA firms, several national firms  and many regional firms and numerous local firms. The big four firms include  Deloitte and Touche Ernest and young KPMG and Pricewaterhouse Coopers at  all levels. These public accounting firms provide auditing, tax and non audit  clients, Management Advisory Services or consulting auditing. Which is a  business seeking Okay, auditing, if a business seeking a loan or attempting to  have its securities traded on a stock exchange, usually must provide financial  statements to support its request. Users of a company's financial statements are more confident that the company is preparing the statement fair, fairly when a  CPA has audited the statements. For this reason, companies hire CPA firms to  conduct examinations, which are called independent audits of their accounting  and related records. Independent auditors of the CPA firm check some of the  company's records by containing external sources. For example, the accountant may contact a bank to verify that the cash balances are correct for the client. 

After completing a company audit, the independent auditor will give an  independent auditor's opinion or a report. For an example of an auditor's  opinion, see the limited Inc annual report in the Annual Report appendix. At the  end of the text this report states whether the company's financial statements  fairly report the economic performances and financial condition of the business. 



Last modified: Monday, January 20, 2025, 10:11 AM