In this age, the need for a professional who will help you out in the financials is a necessity. You need a trusted voice that will guide you in the financial matters of your business. And that is not it either; there are numerous other things that a CPA in Kissimmee, FL can help you with. But we will tell you more about that later.
Before we go any further on the topic of CPA in Kissimmee, FL, let us start with the basics.
What Exactly is a CPA?
A certified public accountant or more commonly known as a CPA is a professional in accounting services who serve the citizens after passing their requisite examinations. A CPA in Kissimmee, FL is also required to have work experience as well as state education requirements. Those candidates who have fulfilled all these requirements will be allowed to work as a licensed CPA in Kissimmee, FL.
The licensing laws of CPA are the same as for attorneys. Candidates who have obtained their CPA in Kissimmee, FL will only be allowed to practice in this state. However, they can get a license in multiple states as well. Though, each state has a different set of requirements for becoming a CPA.
Being a CPA in Kissimmee, FL is one of the best careers you can ask for. The world of accounting and financing is always evolving, and that adds to the value of a CPA in Kissimmee, FL.
A lot of people believe that being an accountant is the same as being a CPA in Kissimmee, FL, but that is not true. Being a CPA in Kissimmee, FL gives you the chance to get your hands on more knowledge and expertise. And not just that, you can work in diverse fields. You can have more career opportunities working as a CPA in Kissimmee, FL than an accountant.
Following are some of the career paths that are popular with the CPAs in Kissimmee, FL:
- Auditing and Review
One of the main jobs performed by CPAs in Kissimmee, FL is auditing and review of the client’s financial statements. All companies want an unbiased person to review their company’s financial statement. CPAs in Kissimmee, FL give their sound and unbiased opinion and review on a company’s financial statements. Once the audit report is complete, a CPA in Kissimmee, FL can see if there are any material misstatements found in the company’s financial statements.
All the companies that are public are required by the U.S. Securities and Exchange Commission to have a certified CPA in Kissimmee, FL to perform an audit before they can issue their financial statements to the public and the shareholders.
2. Tax Services and Preparation
One of the most sought-after career paths for a CPA in Kissimmee, FL is in the tax industry. Everyone has to pay their taxes, and each year during tax season people are running around looking for a trained CPA in Kissimmee, FL. The job of a CPA in Kissimmee, FL is to minimize tax burdens on their clients. They provide their clients with different strategies and tactics to make sure that their clients understand the ins and outs of the tax laws. CPAs in Kissimmee, FL work on different types of taxes for their clients from income tax to property tax.
3. Consulting Services
When it comes to running a business, there are many operations that need to be carried out effectively. And a CPA in Kissimmee, FL can help you with different consulting services to make sure your business thrives. Some of the consultation services carried out by CPAs in Kissimmee, FL includes identification of possible operational improvements and evaluation of internal controls.
4. Forensic Accounting Services
In this time and age, white collar crimes are pretty common. You must have heard horror stories of owners or employees embezzling money from the business. Detection of those embezzlement schemes is hard. And sometimes it can take months or even years to figure out your company was a victim of an embezzlement scheme.
CPAs in Kissimmee, FL are often hired to uncover the money trail. They dig through the company’s financial records and figure out if someone embezzled in the company. If there were any fraudulent activities discovered, a CPA in Kissimmee, FL is duty bound to report it.
5. Business Valuation and Financial Planning
CPAs in Kissimmee, FL often advise their clients on matters such as when it is the right time to transfer their business or when they should sell their business. The succession planning and estate planning are also carried out by a certified CPA in Kissimmee, FL. Your CPA in Kissimmee, FL will help you understand the tax ramifications of your business as well.
6. Litigation Services
Though CPAs in Kissimmee, FL don’t have the license to practice law, however, they are often asked to serve as an expert witness. They are hired by attorneys to prove and find discrepancies in financial statements when dealing with business splits/ accusations/ mergers, bankruptcies cases, and divorce proceedings.
What are the Other Career Opportunities for CPAs in Kissimmee, FL?
It is not just the public accounting field where CPAs in Kissimmee, FL excel, but also other careers. Following are just a few of those professions:
- Non-Profit Organizations
Just like the profit businesses need CPAs in Kissimmee, FL to look into their financial matters, CPAs in Kissimmee, FL is also very vital for non-profit organizations. Since they have knowledge of finance, they can better guide the companies on how to spend their funds most effectively. CPAs in Kissimmee, FL look into the day-to-day operations and work with the organization to make it successful.
- Company Management
CPAs in Kissimmee, FL make pretty decent managers because they have inside knowledge on a company’s operations and finance. They also know how to improve the profitability of a company.
There are quite a few federal and government job that is well suited for CPAs in Kissimmee, FL. Congress, military, FBI, and IRS are always looking for trained and experienced CPAs in Kissimmee, FL to fill their ranks. The different capabilities of CPAs in Kissimmee, FL make them perfect candidates to get hired for these jobs.
- Company Executives
A company’s COO or CFO needs to be well versed in the dealings of finances. It is pretty common for companies to hire CPAs in Kissimmee, FL for these positions. They provide a unique insight into the job that other people might not be able to.
Who better to guide the future generation of CPAs in Kissimmee, FL than a certified CPA themselves? A lot of universities hire professional CPAs to influence young students to choose this career path.
CPA vs. Accountant – What One Can do and the Other Can’t
Like we said before, CPAs and accountant are different. Though there are a few things that are common between the two professions, that is not what we are here to talk about. We are here to tell you what is not common between these two professions. So, following are the couple of things that a CPA in Kissimmee, FL can do legally, and an accountant can’t:
U.S. Securities and Exchange Commission does not allow non-certified accountants to perform functions like review financial statements for a public company, issue opinion letters or audit reports, or audit public companies. Only a certified CPA in Kissimmee, FL is allowed to perform these functions.
- Taxation Services
Thanks to IRS, there are some special privileges that come with being a certified public accountant that accountants who are not certified don’t get. Certified CPAs in Kissimmee, FL are permitted to sign the tax returns of their client. And no just that, if the client needs to present their case to the IRS, their CPA can represent them. Attorneys and enrolled agents also enjoy these privileges.
Ethical Responsibilities of a CPA
CPAs in Kissimmee, FL perform work which requires them to abide by some ethical values. Since they work with tax services, accounting, and auditing, people generally trust them with their financial statements. Regulatory agencies, lenders, investors, potential shareholders, and many other people, as well as businesses, trust CPAs with their financial records so that they can provide them with sound advice which will help them make informed decisions about their assets.
You must have heard horror stories about scandals and fraud charges being brought upon accounting firms that resulted in a loss of business. That is why ethics is a must in CPAs in Kissimmee, FL.
All the agencies that train and give certification like AICPA, state societies of CPAs, and other agencies to CPAs have given strict guidelines when it comes to professional ethics. Following are the set of ethics that must be practiced by all CPAs in Kissimmee, FL:
Since CPAs are in the position to provide sound financial advice to people, they need to be very responsible. They play a very important role in society and have to provide their services responsibility. One small mistake from them can result in a big loss for their client. They should have the ability to give professional services with confidence. They should also corporate with their peers and cultivate the accounting profession.
- The Public Interest
CPAs are public servants. They serve the public who consist of financial and business community, investors, credit grantors, and government. All these people need their CPAs to work with them with integrity as well as objectivity. All the actions and decisions taken by CPAs in Kissimmee, FL should be in the interest of the public.
Everyone is aware of what is right and what is wrong. There is no rulebook that states how integrity works. CPAs in Kissimmee, FL should always go towards what is fair and right, no matter who is in front of them – friend or family. They have to be objective and work in accordance to the ethical standard. CPAs in Kissimmee, FL should always do what they think is ethically correct and stay away from any and all wrongdoing.
- Independence and Objectivity
CPAs in Kissimmee, FL work with the financial statements of their clients. And that gives them the opportunity to look into the depth of their finances. That is why it is crucial that they remain objective throughout the process. It is their responsibility to make sure that the company’s assets are protected. This practice should always be done with integrity and objectivity as it is for the interest of the public.
- Due Care
The education of CPAs in Kissimmee, FL is never finished. Each day they learn something new from their clients as well as their peers. It is their job to provide professional services to their clients to the best of their abilities. And that can only be achieved through cultivating experience, annual performance evaluations, adequate supervision and planning, seeking assistance or consultation when necessary, and continuing to learn.
All the business professionals, not just the CPAs in Kissimmee, FL should adhere to these rules and ethical guidelines. Respect your peers as well as superiors and strive for what is right. When you work with honesty and integrity, you are a better role model for the younger generation of CPAs in Kissimmee, FL.
Now that you know all about CPAs in Kissimmee, FL, make sure that you hire a professional CPA to handle your taxes or finances. We care about your finances, and that is why we want to make sure that you get the best CPA in Kissimmee, FL. Make sure you check the qualifications and experience of the CPA in Kissimmee, FL that you hire for your company.
If you need more information about accountingand tax services, please contact usat 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for almost 20 years. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin number, incorporations, and non profit 501c3 tax exempt. (Freedomtax’s accounting and tax professionals are NOT CPA’s. CPA services provided by third party provider.)