Accountant

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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.

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 ?
"The phrase 'holding out to the public as a licensee,' as used in the definition of practice of (or practicing) public accountancy' in Section 3(i) of the Act and in these Rules, means any representation of the fact that a licensee holds a certificate, registration or permit, made in connection with the performance or an offer to perform services for the public.
Meston Reid & Co previously accepted placement students from Robert Gordon University's accountancy and finance degree.
The Yorkshire Accountancy Award winners will be announced at a ceremony on Thursday, May 10, at New Dock Hall in Leeds.
Terrell is a graduate of Mississippi State University where she earned a bachelor's degree in accountancy and master's degree in taxation.
The Accountancy Partnership managing director, and founder, Lee Murphy first started the business in Merseyside as a sole trader in 2006 before becoming incorporated in 2009.
The newly-merged firm will offer a wider range of services including management accountancy.
"I am delighted to welcome Kate to the team to launch and develop our clerical and transactional team and I'm confident that her background and professionalism will greatly enhance the output of our current team of accountancy and finance specialists," said Nick Pearce, director at Alexander Daniels.
These included forensic accountancy services, major corporate finance deals and the success in obtaining significant levels of grant funding for clients.
Although the hall is closing in December all accountancy courses and weddings will be honoured until then.
[USPRwire, Fri Feb 27 2015] Accountancy in France industry profile provides top-line qualitative and quantitative summary information including: market size (value 2010-14, and forecast to 2019).
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PESHAWAR -- The University of Peshawar, Institute of Management Studies and Association of Chartered Certified Accountants (ACCA) have join hands for enhancement of accountancy and finance skills among the management students of varsity.

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