What Is a Certified Personal Accountant?
The federal government mandates that accountants who submit documents to the U.S. Securities and Exchange Commission (SEC) have a state-issued license. Accountants who receive this license are known as Certified Public Accountants (CPAs) or certified personal accountants.
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Duties
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Certified accountants compile financial reports for companies, non-profit organizations and small businesses, including profit-and-loss statements and expense reports. CPAs also provide advice about how to decrease the amount of income taxes a person owes and prepare income tax returns for individuals and organizations.
Education
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In 2009, every state but California, Colorado, New Hampshire and Vermont required 150 hours of college-level training in accounting in order to become a CPA. This typically requires four to five years of college education, such as a bachelor's degree or a master's degree in the field.
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Exam
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After receiving the necessary education, all states require certified accountants to take the Uniform CPA Examination, which was developed by the American Institute of Certified Public Accountants. The exam is given in an electronic form using a computer in most states.
Time Frame
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The Uniform CPA exam is given in four parts and accountants must pass all four parts within 18 months of passing the first part.
Compensation
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As of December 2009, the average annual salary earned by CPAs was $81,000, according to Indeed.com.
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