For those who don’t work in the world of finances, you may wonder what the difference is between a CPA in Overland Park and an accountant in Overland Park? Both roles are important no matter what company an accountant or a CPA (Certified Public Accountant) is working for. Our accounting firm, Pro 31 (based in Louisburg KS) knows just how critical both roles are to run a successful firm. This article will go a little more in-depth and explain what exactly separates the two roles.
An accountant in Overland Park has earned this title by obtaining a bachelor’s degree in accounting. Meanwhile, a CPA in Overland Park has earned their designation by completing ongoing education and specific work requirements, as well as passing a CPA exam.
Although these are specific to each state, typically, a CPA has more accounting knowledge than someone without a CPA designation. An Overland Park CPA can also perform specific duties that an accountant does not have permission to do. Typically, CPAs have started as accountants but have achieved a higher designation through additional work and education.
Common Duties of a CPA
A CPA in Overland Park works closely with financial data. Their duties include analyzing and reporting the data in several different ways. A few examples are:
- Establish Bookkeeping Procedures
- Create Budgets
- Ensure Accurate Reporting or Auditing
- Preparing Financial Statements
- Manage Accounts Receivable and Payable
- Stays Current on Financial Industry Changes and Government Regulations
Do You Need an Accounting Degree to be a CPA?
Every state is different when it comes to qualifications to be a certified CPA. However, one thing is consistent; all states require a degree with a certain number of hours dedicated to accounting. Some states require an accounting degree, which must be followed by work experience, and passing the CPA exam.
What Does the CPA Exam Consist Of?
There are four parts to a CPA exam, which include:
- Financial Accounting and Reporting
- Business Environment and Concepts
- Auditing and Attestation
The exam must be completed in 18 months, and those taking the test must score at least 75% in all four areas. After passing the exam, CPAs must complete continuing education yearly to keep their CPA designation.
As one of the leading tax and accounting firms in Overland Park(based in Louisburg) our accountants and CPAs at Pro 31 Tax and Accounting will assist you with all your personal or business financial needs. We can handle anything from individual income taxes to payroll services for your business. Contact us online or call our Louisburg office today at (913) 837-3131 to speak to a member of our team.
Pro 31 Tax and Accounting, where we build relationships with each client based on integrity and trust.