What Is a CPA? What Does a Certified Public Accountant Do for 2025?

by Imed Bouchrika, Phd

Co-Founder and Chief Data Scientist

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In the business world, Certified Public Accountants, or CPAs, are crucial as they are equipped with specialized knowledge and training in accounting that they offer through essential financial services. These services include accounting, auditing, and tax preparation, among others. CPAs work in various sectors, such as public accounting firms, private corporations, government agencies, nonprofit organizations, and academia.

In this article, we will delve into what is a CPA and the skills and requirements to become one. Please note that we will not discuss in detail the types of degrees one needs to complete. We will, however, explore the duties and responsibilities, potential career paths, salary outlook, as well as the challenges CPAs deal with in their line of work. Whether you are considering a career in accounting or simply curious about this profession, this article will provide a comprehensive overview of what a CPA is, what one does, and more.

What Is a CPA Table of Contents

1. What is a CPA?
2. Skills Required to Become a CPA
3. Duties and Responsibilities of a CPA
4. What networking opportunities are available for CPAs?
5. Career Paths for CPAs
6. Job Outlook for CPAs
7. The Role of Technology in Modern CPA Practices
8. Average CPA Salary
9. Can Specialized Master’s Degrees Enhance a CPA’s Career?
10. What are the Continuing Education Requirements for CPAs?
11. What emerging trends are shaping the future of the CPA profession?
12. What factors drive a higher salary for CPAs?
13. What Role Does Cost-Effective Foundational Education Play in a CPA Career?
14. Can supplementary certifications enhance my CPA career?
15. Challenges of Being a CPA
16. What educational path is required to become a CPA?
17. Accelerated Online Programs for Becoming a CPA
18. What opportunities are available for CPAs to advance their education?

What is a CPA?

Before we delve deeper into the subject, let us first address what is a CPA in accounting. A Certified Public Accountant is a board-certified accounting professional who completed specific educational and experiential requirements, as well as passed the state board exam to qualify for a CPA license in the state where they intend to practice. The CPA license is a mark of expertise and competence in the field of accounting and is highly valued by employers and clients.

A CPA possesses specialized knowledge and training in areas such as accounting, auditing, taxation, financial management, and consulting, which are also the services CPAs typically offer. By ensuring the accuracy and transparency of financial information, CPAs play a crucial role in assisting clients to make informed decisions regarding their financial matters (American Institute of CPAs, n.d.).

How to Become a CPA

The process involved in how to become a CPA (Certified Public Account) usually involves fulfilling certain educational, experiential, and examination criteria. It is much more rigid, however, than how to be a bookkeeper or from taking a certificate in accounting. The typical steps involved in becoming a CPA are as follows:

• Education. The academic requirements to become a CPA can vary by state. Most states require a minimum of a bachelor’s degree in accounting online or traditional, or undergraduate degrees in a related field such as an on-campus or online management degree. Some states may also have additional requirements, such as a certain number of accounting or business courses. In the United States, 69% of CPAs as of 2022 are bachelor’s degree holders (Zippia, 2022).
• Exam. Pass the Uniform Certified Public Accountant Examination, which covers auditing and attestation, business environment and concepts, financial accounting, reporting, and regulation. The exam is administered by the American Institute of Certified Public Accountants (AICPA).
• Work experience. Most states require a certain number of hours of supervised accounting experience. This is typically gained through working in public accounting, corporate accounting, government accounting, or nonprofit accounting.
• Professional ethics course. Many states require CPAs to complete an ethics course as part of their licensing requirements. The course may be offered through various providers, such as state boards of accountancy, professional organizations like the AICPA, and educational institutions. It may be available in various formats, including online, in-person, and self-study options.
• Ethics exam. Once done with the ethics course, you can take the ethics exam. This is administered by the Association of International Certified Professional Accountants. The exam consists of 40 multiple-choice questions, and you can choose to take it online or on paper.
• Licensing. An application for a CPA license needs to be submitted to the state board of accountancy, along with any required fees and supporting documentation.
• Continuing Professional Education. To maintain their skills and competence, CPAs are required to participate in Continuing Professional Education (CPE) programs. These programs are mandated by state boards of accountancy and aim to ensure that CPAs remain up-to-date with the latest developments in the accounting field. The number of CPE hours required may vary depending on the state and the specific requirements of the state board of accountancy. In the United States, CPAs are typically required to complete around 120 hours of CPE every three-year reporting period, as per the guidelines established by the American Institute of Certified Public Accountants.

Skills Required to Become a CPA

To become a CPA, several hard skills are necessary to develop. Here are some examples:

• Accounting. Accounting knowledge and skills include an understanding of accounting principles, financial statements, and the ability to analyze financial data.
• Taxation. This involves knowledge of tax laws, tax planning strategies, and tax compliance requirements.
• Auditing. This ability is necessary to perform audit procedures and analyze audit evidence.
• Financial reporting. This skill revolves around the understanding of Generally Accepted Accounting Principles (GAAP), financial statement analysis, and financial reporting requirements.
• Information technology. CPAs must be capable of working with accounting software and tools for database management, data analysis, and others.

Apart from technical abilities such as accounting expertise and financial reporting proficiency, a proficient Certified Public Accountant (CPA) must also possess various soft skills to execute the job efficiently. The following are some examples of soft skills that are essential for a CPA to have:

• Communication. A CPA should have excellent verbal and written communication skills to effectively communicate with clients, colleagues, and stakeholders. These include the ability to explain complex financial information in a clear and concise manner.
• Attention to detail. To guarantee the accuracy of financial records, a CPA needs to be detail-oriented and capable of working with precision.
• Time management. Effective time management skills are critical to ensure that work is completed on time, especially during tax season when there may be tight deadlines.
• Analytical thinking. A CPA must have strong analytical skills to review financial data and identify patterns or trends that require further investigation.
• Interpersonal skills. The ability to build strong relationships with clients, colleagues, and stakeholders by showing empathy, respect, and professionalism is another important skill CPAs must develop.
• Adaptability. A CPA should be able to adapt to changes in technology, tax laws, and regulations to ensure that they can provide up-to-date and accurate advice to their clients.
• Integrity. According to the AICPA Code of Professional Conduct, CPAs are required to maintain objectivity and integrity and avoid conflicts of interest when providing professional services. Additionally, CPAs must not knowingly misrepresent any facts in the performance of their duties.

Employers commonly prioritize certain skills and experiences when hiring CPAs. According to ZipRecruiter, the top three keywords used in CPA job descriptions are “Certified Public Accountant" which appears in 35.75% of postings, followed by “Public Accounting" and “Tax Preparation." These experiences are mentioned in 59.05% of CPA job postings, indicating their importance to employers. On the other hand, job seekers vying for CPA positions typically prioritize “Financial Statements" on their list of skills over tax preparation (ZipRecruiter, n.d.).

Soft skills and hard skills are often developed through experience, training, and education. While some of these skills may come naturally to individuals, others can be learned and improved over time through intentional effort and practice. Developing a combination of hard and soft skills is critical for success as a CPA.

Duties and Responsibilities of a CPA

What does a certified public accountant do? As a CPA, the duties and responsibilities can vary depending on the specific job or industry. Generally, however, they are responsible for financial reporting, accounting, and tax-related matters. Here are some of the key duties and responsibilities of a CPA:

• Financial reporting. CPAs are responsible for preparing and analyzing financial statements, such as balance sheets, income statements, and cash flow statements. They must ensure that financial information is accurate and complete, and they must comply with accounting principles and standards.
• Accounting. Another responsibility of CPAs is maintaining and reconciling financial records, ensuring that transactions are recorded accurately and timely, and identifying and addressing any discrepancies.
• Tax preparation and planning. Part of the duties of a CPA involves the preparation and submission of tax returns for individuals, companies, and entities, and staying informed of tax regulations and laws, as well as advising clients on tax planning approaches.
• Audit and assurance. This involves providing audit and assurance services to clients, including evaluating internal controls and ensuring compliance with accounting standards and regulations.
• Consulting. Consulting services CPAs can provide to clients include financial analysis, forecasting, and budgeting.
• Conducting forensic examinations. This is a specialized area for CPAs and involves using accounting, auditing, and investigative skills to analyze financial information and transactions for legal purposes. This can include investigating potential fraud or financial misconduct, conducting damage assessments in legal disputes, and providing expert testimony in court. To become a forensic accountant, you may need a traditional or online degree in criminal justice.
• Financial information management. This involves the collection, analysis, and management of financial data to support effective decision-making and financial planning.

What networking opportunities are available for CPAs?

Networking is a vital component for Certified Public Accountants (CPAs) looking to enhance their careers, build professional relationships, and stay updated on industry trends. Here are some valuable networking opportunities for CPAs:

• Professional Associations: Joining organizations such as the American Institute of CPAs (AICPA) or state CPA societies offers access to a vast network of professionals, resources, and industry events.
• Conferences and Seminars: Attending industry conferences, workshops, and seminars provides opportunities to meet other CPAs, share knowledge, and learn about the latest developments in accounting and finance.
• Local Networking Events: Participating in local business groups or networking events can help CPAs connect with other professionals in their area and expand their local network.
• Online Forums and Social Media: Engaging in online communities, such as LinkedIn groups or accounting forums, allows CPAs to exchange ideas, seek advice, and stay informed about industry news.
• Mentorship Programs: Seeking or becoming a mentor within the CPA community can foster valuable relationships and provide insights into career development and industry best practices.
• Continuing Professional Education (CPE): Many CPE courses and programs include networking components, allowing CPAs to meet peers while enhancing their skills and knowledge.

By leveraging these networking opportunities, CPAs can build strong professional connections, stay informed about industry trends, and enhance their career prospects.

Career Paths for CPAs

Certified Public Accountants (CPAs) have a diverse range of career paths available to them, with opportunities in public accounting, corporate finance, government agencies, and nonprofit organizations. Below are some of the career paths available to CPAs:

• Public accounting. Many CPAs start their careers in public accounting firms, where they provide accounting, auditing, and tax services to clients. Public accounting firms vary in size, from small local firms to large multinational firms.
• Corporate accounting. CPAs can work in the accounting departments of companies, performing various accounting and financial reporting functions. They may also work in other departments, such as finance, treasury, or internal audit.
• Government accounting. Working in government agencies is another option for CPAs. Some of these agencies include the Internal Revenue Service (IRS), Securities and Exchange Commission (SEC), or state and local agencies where CPAs can be involved in auditing, financial reporting, or tax compliance.
• Nonprofit accounting. CPAs can also work for nonprofit organizations, such as charities, educational institutions, or religious organizations. They may perform accounting and financial reporting functions, as well as budgeting and compliance activities.
• International accounting. CPAs with experience in international accounting and finance can work for multinational corporations or international accounting firms, providing accounting and financial reporting services across multiple countries and jurisdictions.
• Entrepreneurship. If they prefer to not work for other organizations, CPAs can start their own accounting firms and provide accounting, tax, and consulting services to clients. They may also start other types of businesses using their financial expertise to manage their operations and take cheap online business courses to further expand their knowledge in business management.
• Education. CPAs can teach accounting and related subjects at colleges and universities, as well as provide training and development programs to accounting professionals.

Job Outlook for CPAs

The United States Bureau of Labor Statistics projected a 6% growth in the employment of accountants and auditors, including CPAs, from 2021 to 2031. This projection is faster than the average for all occupations, which translates to a generally positive outlook for professionals working in this field. According to CPA firms, one of the main reasons behind the massive demand for CPAs is the looming mass retirement of Baby Boomers in the next 15 years. Baby Boomers make up 75% of today’s public accounting CPAs, and there is not enough supply of qualified younger-generation finance professionals to meet the demand as the number of accounting graduates and CPA examinees has been on a decline (AICPA, 2019).

Aside from the growing demand for CPAs, professionals in this field also have a diverse range of career paths available to them. Below are some of them:

• Public accounting. Many CPAs start their careers in public accounting firms, where they provide accounting, auditing, and tax services to clients. Public accounting firms vary in size, from small local firms to large multinational firms.
• Corporate accounting. CPAs can work in the accounting departments of companies, performing various accounting and financial reporting functions. They may also work in other departments, such as finance, treasury, or internal audit.
• Government accounting. Working in government agencies is another career option for CPAs. Some of these agencies are the Internal Revenue Service (IRS), Securities and Exchange Commission (SEC), or state and local agencies where CPAs can be involved in auditing, financial reporting, or tax compliance.
• Nonprofit accounting. CPAs can also work for nonprofit organizations, such as charities, educational institutions, or religious organizations. They may perform accounting and financial reporting functions, as well as budgeting and compliance activities.
• International accounting. CPAs with experience in international accounting and finance can work for multinational corporations or international accounting firms, providing accounting and financial reporting services across multiple countries and jurisdictions.
• Entrepreneurship. If they prefer to not work for other organizations, CPAs can start their own accounting firm and provide accounting, tax, and consulting services to clients. They may also start other types of businesses using their financial expertise to manage their operations.
• Education. CPAs can teach accounting and related subjects at colleges and universities, as well as provide training and development programs for accounting professionals.

The Role of Technology in Modern CPA Practices

In today’s rapidly evolving business environment, technology plays an integral role in shaping the field of accounting and the work of Certified Public Accountants (CPAs). Automation, artificial intelligence (AI), and cloud computing have revolutionized traditional accounting practices, enabling CPAs to increase efficiency, reduce errors, and focus on offering strategic financial advice.

For instance, advanced accounting software platforms now handle time-intensive tasks such as data entry, reconciliations, and financial reporting. Tools like QuickBooks, Xero, and Oracle NetSuite streamline the workflow, making it easier for CPAs to manage multiple accounts and access real-time financial data. Similarly, AI-powered analytics tools assist CPAs in identifying financial trends and making data-driven recommendations, elevating the strategic value they bring to organizations.

Cloud computing has also fundamentally changed the way CPAs operate. By enabling remote access to financial information, cloud-based systems facilitate enhanced collaboration between CPAs and their clients, regardless of location. Additionally, these systems offer improved security measures, such as encryption and multi-factor authentication, to ensure sensitive financial data is protected.

However, the integration of technology comes with its challenges. CPAs must stay current on emerging tools and platforms through ongoing professional development and training. While automation can handle routine aspects of accounting, CPAs still need advanced expertise to interpret complex financial data, ensure regulatory compliance, and navigate the ethical implications of new technology.

Ultimately, the intersection of technology and accounting highlights the evolving role of CPAs. As these professionals adopt tech-driven solutions, their focus shifts toward advisory, decision-making, and delivering higher-value insights to organizations and clients. For those juggling career advancement with personal commitments, pursuing online degrees for working adults can provide the flexibility needed to gain the technical proficiency essential for success in the CPA profession.

Average CPA Salary

What is a CPA salary on average? CPAs are typically in the above average accounting major salary range. As of May 2021, the median yearly salary for accountants and auditors was $77,250 or $37.14 per hour (U.S. Bureau of Labor Statistics, 2022). The salary, however, can differ based on different factors such as location, years of experience, industry, and level of education. Typically, CPA accountant salary goes up when the professional holds advanced degrees and certifications earns higher salaries. Below are some of the top accounting jobs that may require a CPA license, along with their respective national average salaries (Keiling, 2023):

• Chief Financial Officer (CFO) $122,499/year. The CFO also plays a key role in assessing and managing the financial risks and opportunities of a company. The duties and responsibilities of a CFO typically include overseeing the financial planning and analysis, financial reporting, accounting, treasury and cash management, and investor relations of a company. They also develop and implement financial strategies.
• Actuarial Analyst $112,381/year. Actuarial analysts are professionals who utilize data to assess risk for a company or an organization, typically insurance companies and financial services businesses. Their job involves developing graphs and charts to convey risk assessments, interpreting outcomes of data analysis, and ensuring the accuracy of all relevant reports.
• International Tax Manager $100,486/year. An international tax manager is in charge of managing a company’s tax compliance and planning for their operations abroad. Their primary goal is to reduce the amount of taxes the company is required to pay while also ensuring that they follow all tax laws and regulations in the different countries where they operate. The job entails examining financial information, reviewing tax returns, creating tax strategies, and communicating with other employees and external advisors to ensure that tax-related decisions align with the company’s objectives. They also stay current with changes to tax laws and regulations in different countries and provide advice to the company accordingly.
• Finance Director $96,751/year. A finance director is responsible for managing and maintaining the financial health of an organization. They make strategic decisions and provide guidance to meet financial goals, ensure compliance with financial regulations and laws, and oversee financial reporting and analysis. They work closely with other departments to develop budgets, forecasts, and financial plans, and communicate financial information to senior management and stakeholders. In addition, they may manage investment portfolios, negotiate financing, and assess risks and opportunities to support the long-term financial health of the organization.
• Accounting Professor $78,862/year. An accounting professor’s job is to teach courses in accounting, auditing, financial management, and related subjects to undergraduate and graduate students at a college or university. They design and develop course materials, prepare and deliver lectures, lead discussions and seminars, evaluate student performance, and provide guidance and support to students. Accounting professors may also conduct research, publish articles in academic journals, and serve on academic committees. They may collaborate with other professors and professionals in the field to advance their research and contribute to the accounting profession.

Can Specialized Master’s Degrees Enhance a CPA’s Career?

In today’s competitive financial landscape, advanced specialization can provide CPAs with a distinct advantage. Targeted graduate programs offer in-depth training in niche areas such as investigative techniques, fraud detection, and compliance, allowing professionals to tackle complex financial challenges. Pursuing specialized education not only enhances analytical skills but also broadens career options in high-demand sectors. For example, enrolling in a masters in forensic accounting program equips CPAs with the expertise needed to excel in specialized roles while reinforcing their commitment to industry best practices.

What are the Continuing Education Requirements for CPAs?

CPAs must adhere to mandatory continuing professional education (CPE) requirements to maintain their licenses and stay abreast of evolving industry standards, regulations, and technological advancements. These requirements typically involve completing a set number of CPE hours over a specific period and may include courses on ethics, regulatory changes, and emerging financial trends. This ongoing education not only supports professional growth but also reinforces the credibility and expertise expected of CPAs. For professionals seeking flexible and affordable ways to enhance their qualifications, exploring a CPA degree online can be a strategic move.

What emerging trends are shaping the future of the CPA profession?

The CPA field is rapidly evolving, driven by advancements in technology and changes in regulatory standards. Today’s professionals are increasingly leveraging artificial intelligence, blockchain, and data analytics to enhance audit precision and financial reporting. This shift not only streamlines routine tasks but also demands higher analytical capabilities to interpret complex data sets. Additionally, the trend toward remote work and digital collaboration tools is reshaping client interactions and the overall service delivery model. Staying informed about global regulatory adjustments and sustainable business practices has become essential for CPAs dedicated to maintaining industry relevance. For more insights on how these shifts can impact your accountancy career path, it is crucial to continuously update technical skills and strategic knowledge in line with emerging market demands.

What factors drive a higher salary for CPAs?

Compensation among CPAs is influenced by a combination of specialized certifications, industry expertise, geographical location, and continuous professional development. Advanced skills in areas such as forensic accounting, IT auditing, or financial analysis can open doors to high-value positions that command premium remuneration. Additionally, CPAs who proactively pursue further educational credentials and integrate emerging technologies into their practice often negotiate more competitive compensation packages. For a detailed comparison and further insights into compensation trends, consider reviewing the salary of an accountant.

What Role Does Cost-Effective Foundational Education Play in a CPA Career?

For aspiring CPAs, a cost-effective associate’s degree can serve as a strategic stepping stone toward a successful career. This foundational education provides core accounting principles and critical skills while offering an affordable entry point into higher-level studies and professional certifications. In particular, exploring options like the most affordable online associate's degree in accounting enables candidates to manage education costs efficiently without sacrificing quality. Such programs lay the groundwork for advanced studies and long-term career growth by balancing initial financial investment with robust academic preparation.

Can supplementary certifications enhance my CPA career?

Pursuing specialized credentials in distinct areas like bookkeeping, fraud examination, or financial analysis can further validate your expertise and diversify your skill set. Such certifications not only reinforce your technical proficiency but also open additional career pathways and may lead to enhanced compensation opportunities. Explore how to get CPB certification to broaden your professional portfolio and increase your competitive edge in the evolving financial landscape.

Challenges of Being a CPA

Becoming a CPA is not an easy feat. Before obtaining the license, there are several challenges that one must face, and these challenges continue after becoming a CPA. It requires resilience, dedication, and hard work to handle and overcome some of the challenges below and succeed in this field.

• Exam difficulty. One may ask, “What is a CPA exam and why is it so hard?" The CPA exam is known to be challenging due to its comprehensive and rigorous nature. It covers a wide range of topics in accounting, business, and finance and requires a deep understanding of the principles, regulations, and practices of the field. The exam also includes multiple-choice questions, task-based simulations, and written communication tasks that test candidates’ analytical and problem-solving skills. Moreover, the exam is lengthy, consisting of four sections that take a total of 16 hours to complete. Due to its difficulty level, the CPA exam passing rate is only around 45% to 55%, according to AICPA.
• Keeping up with constantly changing regulations. CPAs and other professionals in the accounting and finance field encounter a persistent challenge in the form of an ever-evolving regulatory environment. The continuous release of new accounting standards requires companies’ strict compliance to avoid penalties. This means that CPAs must ensure that their knowledge, understanding, and implementation of regulatory standards and requirements are always up to date.
• Technological adaptability. A recent survey conducted by Deloitte and the Institute of Management Accountants (IMA) found that 65% of finance and accounting professionals are unprepared for the future. Many of them do not have the necessary skills to succeed in a rapidly changing business environment, which is increasingly being influenced by new technologies such as artificial intelligence, data analytics, and automation. The survey also revealed that many finance and accounting professionals feel overwhelmed by the amount of data they are expected to manage and analyze. To adapt to these changes, the report recommends that finance and accounting professionals embrace new technologies, invest in their own learning and development, and collaborate more closely with other departments within their organizations.
• Ethical challenges. Ethical dilemmas in accounting are not new, and CPAs are not immune to them either. These include conflict of interest, risk of committing fraud knowingly or not, and breach of confidentiality. Depending on the type of violation found after an investigation, possible consequences can be dismissal of the complaint, penalties, mandated courses, or admonishment. In extreme cases, a violation could lead to the permanent or temporary revocation of membership. On rare occasions, punishment can even result in jail time.

According to a study by Gideol Els titled “Attitudes of accounting students towards ethics, continuous professional development and lifelong learning," one way to combat the growing problem with ethical issues among finance professionals is by making sure that accounting and finance students understand its importance. As Els wrote in the African Journal of Business Ethics: “Higher education institutions need to acknowledge the important role they play in ‘shaping young minds’ and, therefore, need to revisit their curricula. If today’s Chartered Accountants need skills over and above mere theoretical knowledge, the general education of Chartered Accountants should provide a foundation for these, including a foundation of ethical values provided in such a manner that it cultivates a culture of lifelong learning."

What educational path is required to become a CPA?

To become a CPA, you typically need to complete a bachelor's degree in accounting or a related field. A bachelor's degree program in accounting will provide you with the foundational knowledge and skills you need to succeed as a CPA. There are many accredited online accounting programs available that can help you achieve your educational goals while offering flexibility. You can find more information on top online accounting programs offered by various universities.

Accelerated Online Programs for Becoming a CPA

For individuals who are eager to pursue a career as a CPA but are concerned about the traditional timeline and rigid structures of in-person programs, accelerated online accounting degrees offer a viable solution. These programs allow students to complete their required coursework in a shorter amount of time while maintaining the flexibility to study at their own pace.

Online CPA preparation programs are growing in popularity due to their convenience and efficiency. Many universities now offer an accelerated online accounting degree, which is designed to provide the same high-quality education as traditional in-person programs but in a more condensed and flexible format. These programs can typically be completed in 12 to 18 months, depending on the pace at which students progress through the coursework.

What sets accelerated online accounting programs apart is their focus on efficiency. These programs are structured to fast-track students toward their goal of becoming a CPA without sacrificing the depth of knowledge required to succeed. Students in these programs often learn critical accounting topics such as financial reporting, taxation, auditing, and business law, all while preparing for the rigorous Uniform CPA Examination.

Additionally, online programs offer the flexibility to balance education with work and personal commitments. Many students choose accelerated online programs to continue working while studying, making it easier to gain relevant work experience that is required for the CPA licensure process.

What opportunities are available for CPAs to advance their education?

CPAs who wish to advance their education and stay competitive in the job market can consider pursuing a graduate degree, such as a master's in accounting or a related field. This can be achieved through traditional on-campus programs or online platforms, which offer flexibility and convenience. For those looking to complete their master's degree quickly, they can explore the fastest masters degree options available, allowing them to gain advanced knowledge and skills in a shorter amount of time. By investing in their education, CPAs! can enhance their career prospects, increase their earning potential, and stay up-to-date with the latest developments in the field.

Is CPA the right career for you?

Now that the questions of what is a CPA and what they do have been answered, the next would be determining if this is a career path you would like to take. Becoming a CPA requires dedication, hard work, and a commitment to lifelong learning that starts with taking an accounting degree, which is one of the affordable online bachelor degree programs. But as with any profession, there are both benefits and challenges to being a CPA. If you enjoy working with numbers, have strong analytical and problem-solving skills, and are interested in the financial well-being of individuals and businesses, then pursuing a career as a CPA may be the right choice for you.

However, it is important to consider the challenges that come with being a CPA, including the demanding education and licensing requirements, ongoing professional development, and the potential for ethical dilemmas. It is also essential to evaluate whether the career aligns with your personal and professional goals.

If you are wondering whether to take your preparation courses for CPA online but are wondering are online degrees respected, then know that it is respected by employers. But that fact does not free it from challenges, including managing your time.

Ultimately, the decision to pursue a career as a CPA should be based on a thorough understanding of the profession, your strengths and interests, and your long-term career aspirations. With the right preparation and a commitment to excellence, a career as a CPA can be a rewarding and fulfilling choice.

Key Insights

• High Demand and Job Growth: The employment of CPAs is expected to grow by 6% from 2021 to 2031, driven by the increasing need for accounting and auditing services across various sectors.
• Competitive Salary: The median annual salary for CPAs is $77,250, with higher earnings potential in specialized roles such as CFOs, actuaries, and international tax managers.
• Diverse Career Paths: CPAs can work in public accounting, corporate finance, government agencies, nonprofit organizations, and education. They also have opportunities for entrepreneurship and international accounting roles.
• Educational and Licensing Requirements: Becoming a CPA requires a bachelor's degree, passing the Uniform CPA Examination, completing a specified amount of supervised work experience, and adhering to continuing professional education requirements.
• Key Skills: CPAs need a mix of hard skills like accounting, taxation, auditing, and financial reporting, along with soft skills such as communication, attention to detail, analytical thinking, and integrity.
• Challenges: CPAs face challenges such as the rigorous CPA exam, constantly changing regulations, the need for technological adaptability, and ethical dilemmas.

FAQ

1. What is a CPA?

A Certified Public Accountant (CPA) is a board-certified accounting professional who has completed specific educational and experiential requirements and passed the state board exam. CPAs offer specialized financial services such as accounting, auditing, and tax preparation.

2. How do I become a CPA?

To become a CPA, you need to earn a bachelor's degree in accounting or a related field, pass the Uniform CPA Examination, complete a specified amount of supervised work experience, and meet any additional state-specific requirements, including ethics courses and exams.

3. What is the CPA exam?

The CPA exam is a comprehensive and rigorous test that covers auditing and attestation, business environment and concepts, financial accounting, reporting, and regulation. It is administered by the American Institute of Certified Public Accountants (AICPA).

4. What are the educational requirements to become a CPA?

Most states require a minimum of a bachelor's degree in accounting or a related field, along with specific accounting and business courses. Some states may have additional educational requirements.

5. What skills are required to be a successful CPA?

Successful CPAs need hard skills like accounting, taxation, auditing, and financial reporting, as well as soft skills such as communication, attention to detail, time management, analytical thinking, interpersonal skills, adaptability, and integrity.

6. What are the career paths available for CPAs?

CPAs can pursue careers in public accounting, corporate finance, government accounting, nonprofit accounting, international accounting, entrepreneurship, and education. They can also specialize in areas such as forensic accounting or become consultants.

7. What is the job outlook for CPAs?

The job outlook for CPAs is generally positive, with a projected 6% growth in employment from 2021 to 2031. This growth is driven by the increasing demand for accounting and auditing services across various industries.

8. How much does a CPA earn on average?

As of May 2021, the median annual salary for CPAs was $77,250. Salaries can vary based on factors such as location, years of experience, industry, and level of education. Specialized roles and advanced degrees typically lead to higher earnings.

9. What are some challenges CPAs face?

CPAs face several challenges, including the difficulty of the CPA exam, staying updated with constantly changing regulations, adapting to new technologies, and navigating ethical dilemmas.

10. Is a CPA career right for me?

A CPA career may be right for you if you enjoy working with numbers, have strong analytical and problem-solving skills, and are interested in the financial well-being of individuals and businesses. It requires dedication, hard work, and a commitment to ongoing professional development.

References

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• American Institute of CPAs. (n.d.). Become a CPA. American Institute of Certified Public Accountants. Retrieved April 17, 2023.
• Controllers Council. (2022, October 25). Accounting crisis CPA firms face 75% retirements. Controllers Council. Retrieved April 19, 2023.
• Els, G. (2014). “Attitudes of accounting students towards ethics, continuous professional development and lifelong learning." African Journal of Business Ethics, 4(1), 51. https://doi.org/10.15249/4-1-58
• Keiling, H. (2023, March 11). 22 accounting jobs that pay well. Indeed. Retrieved April 19, 2023.
• Simandhar Education. (2020, December 5). What is CPE? Why is it important for CPAs? LinkedIn. Retrieved April 17, 2023.
• U.S. Bureau of Labor Statistics. (2022, September 8). Accountants and auditors: Occupational outlook handbook. U.S. Bureau of Labor Statistics. Retrieved April 17, 2023.
• Zippia. (2022, April 18). Certified public accountant demographics and statistics [2022]: Number of certified public accountants in the US. Zippia. Retrieved April 19, 2023.
• ZipRecruiter Marketplace Research Team. (n.d.). CPA must-have skills list & keywords for your resume. ZipRecruiter. Retrieved April 17, 2023.
• ZipRecruiter. (2023). What is the average CPA salary by state. ZipRecruiter. Retrieved April 19, 2023.