A surprising number of people aren’t aware that a CPA is different to a bookkeeper, standard accountant, or tax preparer. In actual fact, CPAs are among the most recognized and trusted professional designations in the world of business. There are a host of stringent licensing and qualification requirements that separate CPAs from the pack. Those who have achieved the CPA designation have worked extremely hard and are committed to providing clients with the value associated with their profession.
‘Accountant’ is an umbrella term that relates to financial and tax professionals who follow set rules and regulations, such as Generally Accepted Accounting Principles (GAAP); these are standards created and overseen by the Financial Accounting Standards Board (FASB). A CPA is an accountant that has passed a state licensing examination.
Therefore, while not all accountants are CPAs, all CPAs are accountants.