Anonymous
Anonymous asked in Business & FinanceSmall Business · 5 months ago

If i have a CPA license does that make me a professional accountant?

My goal is to manage wealthy individuals money .

12 Answers

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  • 5 months ago

    Yes, earning a CPA makes you an accounting professional once you begin working as an accountant. You can earn a CPA and never spend one day in accounting, but do something else instead.

    CPAs do not manage investments. They manage cashflow, accounts receivable and accounts payable, ie, see that the bills get paid and see that the client is not being cheated. They prepare tax returns, they can audit an individual's financial activity, or a company's books. You can do these things for a wealthy individual, but it will most likely be done as an accountant with a known company, not on your own, not until you are well-established in the profession.

    A CPA CAN manage someone's investments, but they aren't doing so AS a CPA. They are doing it with additional accreditation as a Certified Financial Planner or other credentials of an investment professional.

  • 5 months ago

    CPA's don't manage money, they do/check accounts and help file tax returns. Money Managers, CFA's, CFP's manage wealth

  • 5 months ago

    Go for it for sure yeh of course yesssirr

  • Truth
    Lv 7
    5 months ago

    yes. especially if you have clients

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  • 5 months ago

    If asking here...you will never be professional enough to handle serious wealth....

  • 5 months ago

    You are only a professional accountant if you actively work in accounting. Many accountants give financial advice and hold certified financial planner designations on top of the CPA designation.

    Some of the required CPE can be used for both.

    If you do client tax work and advise on tax and financial issues, you will work toward meeting the experience requirement to become a licensed CFP. Best of both worlds.

  • John
    Lv 7
    5 months ago

    Our CPA gives us tax advice. Our financial adviser is more like a stock broker. I've never asked him but I don't believe he's an accountant at all, by schooling. Just us, the rest of the world may vary.

  • Eva
    Lv 7
    5 months ago

    That makes you an accountant but it does not make you a financial advisor.

  • In
    Lv 7
    5 months ago

    CPA stands for Certified Public Accountant. If you are certified and engaged in that vocation then you are a professional accountant.

  • ?
    Lv 7
    5 months ago

    No. you're not a professional accountant until you're getting paid to do it.

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