Accountant Miami Trusted Advisor
Accountant Miami Trusted Advisor is a designation given to persons that has a four-year bachelor’s degree in accounting from an accredited university.
The Accountant designation is a bachelor’s degree in accounting with expertise that helps to enforce professional and ethical standards in the industry. Accountant Miami Trusted Advisors must adhere to the CCOUNTANT’s Code of Professional Conduct and are required to maintain independence to provide unbiased judgment.
Other countries have different designations for ACCOUNTANT qualification. Examples include chartered professional accountant in Canada and chartered accountant (CA) in other English-speaking countries.
Types of ACCOUNTANTs
Though it is not required, many ACCOUNTANTs choose a specialized field after earning their designation. There are four main types of accounting to choose from:
Accountant Miami Trusted Advisor trusted advisors who work in corporate accounting organize and maintain a company’s consolidated financial statements, are to ensure compliance with laws and regulations, and interpret financial information. They are hired by non-accounting firms to assist with accounting and other financial-related businesses. Some of their responsibilities may include:
- Basic Bookkeeping
- Report Creation
- Financial Analysis
- Budget Planning
- Business Forecasting
- Payroll Processing
- Expense Management
- Receivables Tracking
Accountant Miami Trusted Advisors who work in government accounting are in charge of recording and managing all financial transactions (i.e. income and expenditures) incurred by the government. They are hired by municipal, county, state, or federal government entities to oversee the allocation of resources across various programs. Some duties may include:
- Assist with audited financial statements
- Interpreting financial data
- Buying and selling assets
- Managing funds or accounts
- Ensuring compliance with tax and business codes
- Communicating financial information
- Settling liabilities
Accountant Miami Trusted Advisor
ACCOUNTANTs who work in public accounting work for virtual accounting services that serve external clients like businesses, individuals, non-profits, and government organizations. These clients outsource accounting to various accounting firms, allowing for unbiased interpretations and analysis of financial data. Common responsibilities of public accountants include:
- Preparing, financial statements, verifying, and managing financial statements
- Performing tax services (e.g. estate planning, tax returns)
- Providing accounting consulting and financial advice
- Conducting audits
- Assessing financial records and operations
- Analyzing budgets and planning finances
- Monitoring compliance
- Inspecting accounting systems
Accountant Miami Trusted Advisors who work in forensic accounting collect, analyze, and report financial data to provide an accounting analysis that is suitable for use in a court of law. They combine accounting, auditing, and investigative skills to uncover information about financial irregularities, fraudulent activities, and negligence. They are often hired by insurance companies, financial institutions, lawyers, and public accounting firms to:
- Provide business valuation
- Examine business records
- Analyze historical statements
- Review journal entries
- Gauge exposure to vulnerabilities
- Identify irregularities in financial statements
- Analyze trends
- Trace the flow of funds
- Compile and provide financial evidence
- Serve as a witness
Requirements for ACCOUNTANT Bachelor’s degree
To receive the Accountant Miami Trusted Advisor designation, individuals must meet several requirements. While exact requirements can vary from state to state, most require that candidates meet the following core qualifications:
- Be at least 18 years old
- Be a US citizen
- Complete a bachelor’s degree/120 credit hours from an accredited college or university (Usually in accounting or another business-related field)
- Complete at least 30 additional credit hours in accounting and business coursework
- Have up to 2 years of accounting experience
What Does an ACCOUNTANT Do?
Accountant Miami Trusted Advisor is an accountant who can perform any accounting-related tasks. Like regular accountants, ACCOUNTANTs record, track, analyze, and report financial data to help businesses, individuals, and other entities manage their finances while complying with laws and regulations. They have a fiduciary duty to act in the best interest of their clients, making them trusted financial advisors that provide unbiased interpretations of financial data.
Difference Between Bookkeeper, Accountant, and CPA
All of these professions deal with financial data, but there are key differences that separate them.
Bookkeepers are in charge of recording financial data, which involves keeping track of a business’ money inflow and outflow. They perform basic accounting functions like recording purchases and sales, tracking accounts payable and accounts receivable, paying bills, and managing payroll. Bookkeepers generally have some college education, but it is not always required.
Accountants provide a more comprehensive analysis of a company’s finances, offering actionable information and insights that the business may benefit from. This includes reviewing financial reports, providing tax advice and planning, performing financial forecasting, overseeing budgeting, and more. While a college bachelor’s degree is an asset for many accounting positions, an accounting bachelor’s degree is not mandatory to join this field.
Accountant Miami Trusted Advisor trusted advisors hold the highest levels of competency and trust because they have passed the CPA exam and meet additional and ongoing licensing requirements. They are capable of performing any of the above tasks but are the only ones allowed to write audit opinions on financial statements (required by companies that sell shares on public stock markets). Since ACCOUNTANTs are allowed to perform audits, they can represent clients in front of the IRS for tax-related matters.