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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 ?
To ensure that all communications between a taxpayer and an accountant are privileged, the attorney and the accountant should carefully structure their relationship.
If you have unusual accounting problems, you should look for an accountant with specialized training or experience.
If an existing client wants to hire you as a neutral accountant, ask yourself whether you truly can be impartial.
The purpose of section 7525 was to protect tax advice from disclosure to the government whether it was rendered to a taxpayer by a lawyer or an accountant.
One major service accountants can offer real estate companies is cost segregation studies.
You may begrudge paying out for an accountant but it is a worthwhile and necessary investment which in the long run could help save your company money and help your business grow.
While solo and very small groups have typically used the same accountant for practice and personal purposes, you can break with tradition if it suits you.
Thus, in Florida, an accountant is liable for negligence to members of a "known or intended class" of users of financial statements.
The second thing you should know about this book is that it thoroughly debunks the stereotype of the humorless accountant.
While it's true a plaintiff must prove its case to prevail, even if the accountant wins, the financial and emotional costs of a lawsuit can be tremendous.
The second step involves turning over these financial records to a forensic accountant for the cash flow analysis.

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