What Is the Function of a CPA Firm?
If you or your business is looking to hire an accountant, you might consider those working for a certified public accountant (CPA) firm. CPA firms hire both regular and specialized CPAs to provide a variety of services. Many of these services are essential on and before tax season.
Basic Roles
CPA firms work with their clients – businesses and/or individuals to provide specific services. The accountants, in addition to basic accounting services such as bookkeeping, examine and analyze the client’s financial records to
• Evaluate performance metrics
• Prepare tax returns
• Create budget reports
• Conduct audits
To ensure the financial records of their clients comply with all laws and regulations, a CPA firm must have at least one CPA licensed and certified by the state in which it operates. The basic qualifications and requirements in Staten Island, NY are based on academics, examinations and experiences. They include:
• 150 semester hours of academic credit from an accredited institution to obtain a license. However, if you have only 120 you can take the CPA exam. On that test, you must pass all
• All four parts of the licensing exam must be passed with no lower than 75.
• The requirement by the New York State Board of Public Accountancy for a minimum of one year of work experience
Specialization
A CPA firm can specialize in diverse aspects. Among the most common are:
• Accounting
• Auditing
• Financial Consulting
• Systems Implementation
• Tax Preparation
These can extend beyond local and regional, general tax and accounting services into international taxation and consulting.