CPA stands for certified public accountant. This accountancy is quite different from traditional accountancy. For becoming CPA, an accountant must take and pass series of rigorous tests administered by the American institute of Certified Public accountants.

The process of globalization and liberalization has removed the barriers for international trade and with it has paved the way for both opportunities and threats for the accounting professionals. There are a lot of opportunities and potentials for the accounting professionals in the traditional accounting disciplines, but also possess cutting- edge integrative and professional competencies with multi- disciplinary knowledge and skills.

In addition to public sectors CPA can also be employed by corporate termed as the private sector and such CPA are termed as Chief Financial Officer abbreviated as CFO or finance manager. CPA performs many functions. The CPA provides service to their concerned organization rather than the public directly. CPA takes a strong leadership and up-to-date processes to make a firm ready to compete in today’s market.

The CPA has gained importance after Enron Scandal. CPA serve as business consultants and they are under regular scrutiny. In audit engagements, CPA are required by professional standards and Federal and State laws to maintain independence from the entity for which they are conducting an attestation engagement. However, people who work as CPA consultants do not work as auditors.

The primary functions CPA relate to assurance services, or public accounting. In assurance services, also known as financial audit services, CPAs attest to the reasonableness of disclosures, the freedom from material misstatement, and the adherence to the applicable generally accepted accounting principles (GAAP) in financial statements. CPAs can also be employed by corporations-termed „the private sector“-in finance functions such as Chief Financial Officer (CFO) or finance manager, or as CEOs subject to their full business knowledge and practice. These CPAs do not provide services directly to the public. In addition to above-mentioned areas of concern the CPAs also have a little to say in income tax field.

Check out more videos for Shreveport Tax Accountant and Shreveport CPA .