MM Accounting and CFO Solutions employs a team of professional bookkeepers and accountants offering exceptional services throughout the New York City area. We specialize in creating custom bookkeeping options such as real estate accounting and bookkeeping services. All of our services are tailored to fit your individual business needs including size, transactions and tasks. MM Accounting and CFO Solutions also offers the choice between on-site or remote bookkeeping.
Our full service bookkeeping and accounting firm does not offer CPA services. However we do work side by side with all CPA’s in order to streamline your businesses financial needs.
In order to understand the difference between a CPA and Accountant we must clearly define the two positions.
What is an Accountant?
Accountants are required to have a 4 year bachelors degree in accounting or a related field. Accountants prepare and review financial reports and records. Accountants depending on their field of expertise can have different jobs such as preparing financial statements and maintenance of general ledgers. Other accountants will work for corporations analyzing business costs of operations, products and implementing budget plans.
What is a CPA?
Certified Public Accountants (CPA) educational requirements vary by state however the minimum education is atlas 150 credit bachelors degree in accounting. After receiving this degree you can sign up to take the CPA exam. Upon successful completion of this exam you’ll become a licensed certified public accountant. CPA tasks include forensic accounting, tax and financial planning and consulting services. CPA’s can also land careers as management accounting or internal auditing.
5 Differences Between Accountants and CPA’s:
- Accountants can only prepare financial statements based on information given from management
- Accountants are not allowed to run an audit of financial statements
- CPA’s must pass four exams and pass the professional ethics exam
- CPA’s are required to completed 80 hours of education every two years
- CPA’s have the capability of advising financial components of a business over an accountant.
Need Bookkeeping or Accounting Services? Look No Further.
If you’re in need of bookkeeping, payroll or accounting services call the experts at MM Accounting and CFO Solutions. We have experience in providing services to various corporations throughout the New York City. We are not CPA’s but we can work side by side with your CPA to ensure your financial business needs are being satisfied.