Ability to Work on the Smallest Details

Many people actually do not know the difference among a CPA (certified public account) a bookkeeper, and a typical accountant. A Westlake certified accountant is the typical accountant. From the business point of view however, all three have differences among themselves.

For one, Westlake certified accountant are one level higher than bookkeepers. CPAs are bound by their legal responsibilities to their clients.

Accountants can perform bookkeeping, but most usually they don’t. However, their work calls for the preparation of detailed financial statements. They can also perform audits of the books of public companies with accompanying reports.

Accountants don’t have any standing with the Internal Revenue System (IRS) regarding matters of tax returns or representing clients in tax audits.

Work

Professionally, an accountant performs accounting functions like financial statement analysis and the common audits. These professionals are usually employed by accounting firms. (Some set up their own practice.)

|As professionals, they have certifications from national professional associations with corresponding requirements to meet. (Those that don’t have them can still work under other accountants.)

Designations

They can have more than one designation but can perform several types of accounting duties. This is dependent on the individual’s educational attainment that he trained for.

Typically, they have bachelor’s degrees and may get their certificate on the work they want to do in their state. It can take a year sometimes to get one.  Their certification includes Certified Management account (called CMA) and Certified Internal Auditor (CIA), all validations to the levels of their competence.

Some accountants specialize in areas like tax accounting, oil and gas accounting, forensic accounting (bankruptcy) and international accounting.

The requirement in every state is the Uniform Certified Public Accountant examination. These are written and graded by the American Institute of Certified Public Accountants should the candidate would want to pursue that.

Other details

Accountants studied to compile, inspect, interpret and report financial statements and tax returns. These would need to comply with the governmental and regulatory requirements.

Most of the time, they work in a company’s accounting department or in an auditing firm or in a private practice. The work revolves mostly on recording, measuring, and presenting financial information anywhere they work.

In accounting departments, the functions they are usually in include billing customers, collecting payment, paying vendors and employees, reconcile bank accounts, calculate and remit taxes and recording the transactions.

The job details also include creating budgets, setting spending policies and making or participating in major decisions.

Audit

The audit work includes verification of the company’s financial information, helping a company determine the right accounting treatment for complex transactions and providing public opinions on the quality of the company’s records.

The practitioners in private may provide bookkeeping services for small companies while preparing tax returns. They sometimes offer consulting services for certain types of transactions.

Accountants have been called “bean counters” that can always focus on the smallest details. Fortunately, they have the rare advantage of being able to understand the details of every area of a company as well as the big picture itself.