A CPA (Certified Public Accountant) isn't inherently "better," but offers more advanced expertise, legal authority (like auditing), and stringent ethical standards than a general accountant; an accountant handles daily tasks (bookkeeping, basic taxes), while a CPA provides higher-level services, strategic planning, audit representation, and complex financial guidance, making them crucial for complex needs but potentially overkill (and pricier) for simple ones.
Because of these high standards, CPAs are recognized by the government as experts in the field. Therefore, CPAs are seen as better qualified to perform accounting functions and are allowed to execute duties that other accountants can't, including: Preparing audited financial statements.
A CPA can represent taxpayers and companies in the event of an audit. While accountants can prepare tax returns, only a CPA can defend a return if the IRS or state tax authorities have questions or concerns. Conducting company audits.
In fact, according to the Bureau of Labor Statistics, CPAs earn 10% to 25% more than non-certified accountants. However, salaries of CPAs and non-certified accountants vary by industry. They can be higher than average in industries experiencing a lot of growth, such as financial technology or software.
The term Certified Public Accountant is specific to a licensed profession. The term Accountant is generic; anyone can use it, same as the term Bookkeeper .
Con: Accounting Can Be Stressful at Times
Accountants are under high “stress during busy seasons, especially during tax season, when the hours can be very long,” says Dr. Machuca. Despite the benefits, an accounting career often brings tight deadlines, long hours, and high volumes of work during the annual tax season.
Research indicates that from 2020 to 2024, the average percentage of staff holding CPA licenses at said firms fell from 56% to 48.4%. At larger firms — where advisory and consulting services continue to expand as private equity money flows in — just over four in 10 (41.5%) of staff held CPA licenses in 2024.
The most common legal complaints against CPAs involve negligence and malpractice, primarily stemming from incorrect tax preparation/advice, causing clients penalties, audits, or financial losses, and failing to meet professional standards (GAAP/GAAS) in areas like auditing, financial reporting, or handling funds, often resulting in failure to detect fraud, missed deadlines, or misstated financials.
CPAs are highly qualified accountants who work on more complex, high-value tasks than regular accountants. As such, they often charge considerably more for their services. CPAs typically charge anywhere from $200 to $500 per hour depending on factors such as service type, complexity of work, and geographic location.
MORE THAN A CREDENTIAL—IT'S THE LAUNCHPAD FOR YOUR CAREER
They work in areas like financial planning, auditing, consulting, forensic accounting, business valuation, government, and nonprofit management—just to name a few. Becoming a CPA means you've mastered a broad set of skills that make you valuable in any industry.
A significant advantage CPAs have over regular tax preparers is their ability to fully represent clients before the IRS in audit and collection matters. CPAs provide audit representation during IRS audits.
5 accounting careers in demand
Apprenticeship overview
BPP's Level 7 Accounting Apprenticeships help you become technically qualified by passing professional exams, whilst developing the complementary skills and behaviours to succeed in your career.
Due to education and licensing requirements, CPAs are typically more qualified to pursue higher level jobs than bachelor's-level accountants. They also tend to have a deeper understanding of topics in accounting and finance, including tax law and data analysis.
Reason #1 to Become a CPA – Prestige in the Profession
The CPA credential alone will separate you from non-CPAs with well-earned knowledge and expertise. By completing years of academic training, rigorous testing, and extensive work experience, CPAs are considered the gold standard of accounting.
Key Takeaways
Lawyers typically earn more than accountants, especially right out of school. Both professions offer opportunities in public and private sectors. Becoming a CPA involves specialized study and a state exam, but it's not always required.
You can typically afford an $800,000 mortgage with an annual income between $200,000 and $260,000. The amount you can borrow depends on more than just your salary, though. We'll cover those factors below. Luckily, you don't have to rely on guesswork to understand your potential monthly payments.