Opinion 1: Clearing Up Misconceptions About CPAs
The CPA license demands a strict educational background, a difficult qualifying examination, and continued educational requirements for maintaining a current license. That said, the CPA is deemed competent to protect the public interest while helping consumers and businesses.
CPAs are innovative and strategic thinkers who provide a number of valuable and useful services to consumers, business owners, government agencies and nonprofit organizations.
What A CPA Offers
Whether you're looking for more effective ways to fund a college education, save for retirement, or better manage your cash flow, CPAs can help. They'll often work with you in establishing financial goals and design action plans to help you achieve them. Owners of privately-held businesses can also benefit from a CPA's help in setting up retirement plans and addressing insurance and investment issues.
To help you preserve the financial security that you are working so hard to achieve, many CPAs offer estate planning assistance. With your future and that of your heirs in mind, they'll show you how you can dispose of your property according to your wishes and minimize the tax burden on your estate.
CPAs play a vital role in helping businesses make better use of their resources to increase efficiency and profitability.
CPAs are trained to look at businesses with an objective eye. They can help you identify weaknesses in your organization and offer suggestions for improvements. A CPA can be your most valuable business partner, one who helps you reach for success.
CPAs are considered the foremost authorities on financial and economic issues. In the legal arena, CPAs act as either expert witnesses or consultants, presenting private advice to attorneys. CPAs also assist clients in divorce settlements, fraud investigations, bankruptcies and alternative dispute resolutions.
Many CPAs work with clients in harnessing the power of technology by providing IT planning and assessments, designing systems, selecting and implementing software solutions and advising on the use of electronic commerce. CPAs can also be instrumental in developing information security policies and helping both individuals and businesses remain technologically competent.
As client needs emerge, so too do new CPA services. More and more CPAs are being called on to use their accounting, tax and financial skills along with their investigative talents to help people resolve significant matters involving money, such as bankruptcy and insolvency reorganizations, divorce settlements, civil lawsuits, fraud investigations, and professional liability claims.
When you consult a CPA you are forming a business partnership with someone who values your success.
The MSCPA has adopted a strategic initiative to reach out to high school and college students to inform them of the diverse career opportunities within the accounting profession and the value of the CPA credential. "Road Trip - Destination...CPA," is the Society's newly-released DVD that highlights CPAs working in public accounting, forensic consulting, and the sports industry. The young professionals discuss the many different career paths available to a CPA, job perks, skills critical for success, and offer advice to aspiring accountants. View the DVD at www.youtube.com/mscpaonline.
Theodore J. Flynn is executive director of the Massachusetts Society of Certified Public Accountants.
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