In the United States, the premier certification for general service accountants is that of the Certified Public Accountant, or CPA for short. Although every state has different requirements that hopeful CPAs have to meet in order to receive such licensure, all of them require Certified Public Accountants to have notched at least 150 credit hours of college courses under their belts. Another part of becoming a CPA is passing a grueling four-part exam that costs thousands of dollars. But what all do Certified Public Accountants do?
Forensic Accounting Is Used to Solve Crimes
Forensic accounting is a more sought-after field than any other subfield of accountancy. This is because forensic accounting is mentally stimulating and involves catching criminals based on their financial records. Certified Public Accountants often get other certifications if they perform forensic accounting services such as the and the Core Forensic Accounting Certificate.
Here’s the Most Popular Service Provided
Across the country, the most popular financial service provided by Certified Public Accountants, whether they work for themselves or a large accounting services firm, is that of preparing tax returns for individuals and businesses of all sizes, income streams, and structures. Tax preparation services are so popular because understanding the Internal Revenue Code is difficult, often causing laypeople to make mistakes that are likely to net them penalties, fees, and fines from the Internal Revenue Service.
Audits Are Also Highly Prevalent
Audits are inquiries into businesses’ financial records to determine if any money is being misappropriated. Audits must be carried out on companies that trade their stock on public financial exchanges, which are overseen by the Securities and Exchange Commission, though they aren’t for any other type of business. Audits sometimes prove helpful for small businesses, though such situations are limited.
At InSite CPAs, we proudly advertise our services as a leading accounting services firm packed to the brim with CPA licensure holders, the full list of which can be found here .
