What makes CPA special?

They are “certified”, meaning they have demonstrated a comprehensive performance of various activities of an accountant plus they have passed a thorough examination of all aspects of accounting.

The Certification is the accounting equivalent of passing the bar exam for a lawyer, or getting a Psychologist’s license for a psychologist.

There are no qualifications for calling oneself an “accountant.” Someone who performs the most basic accounting functions, such as recording bank deposits or printing payment checks, might use the job description of “accountant.”

A CPA has advanced knowledge and skills, obtained through an educational background, professional experience, passing a comprehensive exam, and getting annual CPE (continuing professional education) credits. The person may or may not need to have a valid state license to practice public accounting.

The qualifications vary among different states. Some states require a Masters Degree, while others require only a baccalaureate. In my own state, someone can’t use the CPA designation unless he/she is licensed; if somebody’s certified (has the education and passed the exam) but not licensed, that person can’t describe himself/herself as a CPA.

Fore some perspective only about 20% of people pass the exams on the first try.