Highlights
1. A CPA is a certified accountant who has achieved a professional certification, while an accountant may not have any certification at all.
2. The CPA exam is difficult to pass, with only about 20% of test-takers successfully clearing it. CPA’s are required to maintain high professional standards and stay updated on accounting regulations.
3. CPAs not only handle tax returns and financial statements, but they also act as financial strategists and help businesses make informed financial decisions. They are certified to carry out audits and have more authority and credibility compared to accountants without a professional certification.
Introduction
CPAs and accountants both work in the field of accounting, but there are some key differences between the two. A CPA is a Certified Public Accountant who has achieved a professional certification, while an accountant may not have any formal certification or degree in accounting. CPAs have a higher level of expertise and respect in the field, and their opinions hold more weight than those of accountants. Additionally, CPAs are certified to carry out audits, while accountants are not. When dealing with the IRS, a CPA is the representative for a business, whereas an accountant is only called upon to prepare individual tax returns.
