There are many advantages to entering the field of finance. The information one can apply to their own personal financial life is priceless in that being financially savvy can help one set themselves and their families up for long-term financial success. Accountants and CPAs make up some of the smartest and most well informed financial minds in the US. There is a bit of a misconception as to the functions accountants perform compared to that of a CPA. CPAs can be accountants but not all accountants can be CPAs.
An accountant is the individual who looks over and looks after one’s financial records. It’s common for accountants to have a solid working knowledge of a business owners cash flow cycles, equity, balance sheets as well as preparing financial reports for stake holders. Accountants are not regulated by their state of residency nor are there any specific education requirements. On the other hand, a CPA is a professional who is regulated by their state of residence, has passed each section of the Uniform CPA Exam as well as having the actual CPA license. Many times it is mistaken that passing the CPA Exam qualifies applicants for licensure. This is not the case. There is a specific process of applying for the CPA exam and for licensure. As a result, CPAs are trusted more than an accountant in financial matters. In addition, the benefits that CPAs enjoy are astronomical compared to that of the average accountant.
Below, find an infographic containing all you should consider before becoming a CPA.
Infographic by Bisk CPA Review. Learn the streamlined process of sitting for the CPA exam.