What is a CPA?

A Certified Public Accountant (CPA) gives guidance on a wide range of financial matters, including business financial planning, personal financial planning, estate planning, and taxation planning.

CPAs are considered to be among the most trusted financial advisors, and adhere to strict professional standards of conduct. In order to keep their CPA designation, they are required to meet continuing education requirements that keep them up-to-date on changing accounting standards.

 

Qualifications to consider before selecting a CPA

• Is the CPA licensed to practice in your state?
• Are your needs compatible with the CPA’s expertise?
• How active is he/she in professional organizations?
Professional membership is important. CPAs who are members of the American Institute of CPAs and/or the Arizona Society of CPAs are regulated by a strict code of professional ethics. Once every three years, their peers rigorously review their accounting and auditing practices.

 

How to get the most value from a CPA's service?

• Discuss your goals with your CPA.
• Consult with your CPA when considering business or personal financial decisions.
• Keep good records and prepare routine work ahead of time so you won’t have to pay extra fees.
• Keep your CPA informed of all changes in your personal and professional life. A recent marriage or divorce, the birth of a child, a career change or an especially generous bonus can all have a significant impact on your tax liability and personal financial goals.

Back to top

*This artilce is presented for information and educational purposes only and is not intended to constitute legal, tax or accounting advice. The article profices only a very general summary of complex rules. For advice on how these rules may apply to your specific situation, contact a professional advisor.

All Content Copyright ©2002 - CW Barsness, CPA