Dylanbeth:
No! A Certified Public Accountant is an American title. It is not the same as being an accountant. Typically, an accountant has a bachelor's degree in accounting. On the other hand, a CPA is a title earned after obtaining quality years of experience, meeting the educational requirements, and passing the CPA exam. Are you considering enrolling for one of the roles? What will help you make an informed decision? The site lewis.cpa will answer crucial questions that will help you understand what Accountants and CPAs do.

What Is the Percentage of Accountants That Are CPAs?

Research from the Accounting Institute for Success confirms that up to 50% of American accountants are CPAs. The Institute says the growth rate of 1% of CPAs is too low. The Bureau of Lab or Statistics (BLS) said the employment of all accountants, not individual CPAs, will grow to 10% in the coming years. The average growth rate for the entire occupation is 7%, which is considered excellent.

Is an Accountant Better Than a CPA?

A CPA is more qualified to handle accounting and has more recognition from the government. Individuals with a CPA designation get general training in best practices and accounting principles with the help of online tools. They also get better payment. A Certified Public Accountant has the permission to handle duties that regular accountants can’t handle.

For example, they can function as taxpayers or firm representatives. They can even audit financial statements with communication from Counsel or IRS Revenue Officers. An accountant with no CPA designation will not be able to handle it. The Journal of Accountancy says that an average CPA earns $119000 as of 2017, excluding benefits or bonuses.

This journal also said that:

1. CPAs with 20 years of experience earn $152000 annually.

2. CPAs with less than a year of experience earn $66000 annually.

Can You Become a CPA Without a Degree in Accounting?

No. While each state has various certifications and qualifications, every CPA needs a degree with a particular number of hours committed to accounting studies. Certain states particularly need a degree in accounting. With work experience and education, an exam is a requirement too.

This CPA exam is given in four parts, which are:

1. Regulation.

2. Concepts and Business Environmental.

3. Reporting and Financial Accounting.

4. Attestation and auditing

It will require 18 months to finish all four parts. This is not easy since all applicants must get at least 75% in each piece. CPAs must complete Continuing Education each year. States like Alabama let the candidate get relevant work experience after the exam. The percentage gets a certificate, but not the CPA designation, till after completing a work experience. Some states require you to be an American citizen, be a resident, or be both to take this exam. Many of them need candidates to get their Social Security Number.

Conclusion

An accountant is not the same as a CPA. A CPA writes more exams, has more requirements, and has a license an accountant does not have. If you are to choose between being an “Accountant vs. CPA,” examine these factors we have highlighted in this article.