Question

ompeng man Chapter 5: Discuss the costs and benefits of extensive liability of CPAs to society.

Answer 1

CERTIFIED PUBLIC ACCOUNTANT(CPA):

Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world. In the United States, the CPA is a license to provide accounting services to the public. It is awarded by each of the 50 states for practice in that state. Additionally, almost every state (49 out of 50) has passed mobility laws to allow CPAs from other countries to practice in their state. State licensing requirements vary, but the minimum standard requirements include passing the Uniform Certified Public Accountant Examination, 150-semester units of college education, and one year of accounting related experience.

Advantages of CPAS are

1. Career Development

2.More Employer Demand

3. Expanded Job Opportunities

4. Professional Independence

The benefits of CPA certification for accountants show no signs of abating, so it’s a solid goal for anyone entering the profession.

Disadvantages of CPAS are:

Despite the attractive salary, a career as CPA has its disadvantages.

• Extra Education and Experience. CPAs need more education than other accountants. ...
• CPA Examination. CPA examination requirements are rigorous. ...
• Image. Even accounting professionals recognize that the profession sometimes has a negative image. ...
• Stress.