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Related to accountant: chartered accountant


A person who has the requisite skill and experience in establishing and maintaining accurate financial records for an individual or a business. The duties of an accountant may include designing and controlling systems of records, auditing books, and preparing financial statements. An accountant may give tax advice and prepare tax returns.

A public accountant renders accounting or auditing services for a number of employees, each of whom pays the accountant a fee for services rendered. He or she does more than just bookkeeping but does not generally have all the qualifications of a certified public accountant.

A certified public accountant is one who has earned a license in his or her state that attests to a high degree of skill, training, and experience. In addition to passing an accounting examination, a candidate must have the proper business experience, education, and moral character in order to qualify for the license. The letters CPA are commonly used and generally recognized to be the abbreviation for the title Certified Public Accountant.

The practice of accounting is a highly skilled and technical profession that affects public welfare. It is entirely appropriate for the state to regulate the profession by means of a licensing system for accountants. Some states do not permit anyone to practice accounting except certified public accountants, but other states use the title to recognize the more distinguished skills of a CPA while permitting others to practice as public accountants. All states limit the use of the title and the initials to those who are licensed as certified public accountants.

All accountants are held to high standards of skill in issuing professional opinions. They can be sued for Malpractice if performance of their duties falls below standards for the profession.


noun bookkeeper, calculator, certified public accountant, chartered accountant, clerk, reckoner, recorder, registrar, statistician
See also: comptroller

ACCOUNTANT. This word has several significations: 1. One who is versed in accounts; 2. A person or officer appointed to keep the accounts of a public company; 3. He who renders to another or to a court a just and detailed statement of the administration of property which he holds as trustee, executor, administrator or guardian. Vide 16 Vin. Ab. 155.

References in periodicals archive ?
John Cromwell, a New Hampshire accountant, becomes the first black CPA.
Communications between a taxpayer and a nonlawyer accountant acting alone are not covered by the attorney-client privilege.
The Seventh Circuit agreed with the government, holding that (1) the preparation of a tax return is traditional "accounting work" and not the providing of legal advice; (2) communications between a lawyer and a taxpayer relating to the preparation of an as-yet unfiled tax return are not privileged because the lawyer is then functioning as an accountant and not as a lawyer (on the ground that tax return preparation is not "lawyer's work"); (3) communications between the lawyer and the client that touched on matters relating to both the tax return preparation and the ongoing investigation had a "dual purpose," only one of which was privileged; and (4) the non-privileged purpose of the communication contaminated the otherwise privileged nature of the same communication.
The committee believes that by offering these communication options when performing a compilation, the accountant will use his or her professional judgment about the type of communication options appropriate for the client, provide a quality service and respond to the needs of clients.
Other information required includes (1) current financial information; (2) a statement of quality control polices for its accounting and auditing practices; (3) a list of accountants associated with the firm who participate in or contribute to the preparation of audit reports, stating the firm's license or certificate number and state license numbers; (4) information on criminal, civil, or administrative actions or disciplinary proceedings pending; (5) copies of any periodic or annual disclosures to the SEC on accounting disagreements between a firm and an issuer; and (6) other such information as deemed necessary by PCAOB or SEC rules.
When a business is looking for a management accountant or needs research information or products dealing with management accounting, our goal is for them to contact us.
Yet whatever the career path next-generation accountants choose, the certified public accountant (CPA) credential remains a key requirement for advancement.
For example, the accountant is required to inquire with management responsible for financial and accounting matters about the following:
The accountant or client simply enters the payroll information and AccountantsWorld completes the entire process behind the scenes -- from printing checks, direct deposit, electronic tax payments and full compliance reporting -- at its completely secure, state-of-the-art payroll processing center.
Under the proposed rules, violations of law, certain negligent conduct, reckless violations of professional standards or lack of qualifications to perform auditing services would be considered good cause to remove, suspend, or bar an accountant or firm from providing services for such an insured institution.

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