How Is A Tax Accountant’s KRA Different From That Of A CPA?

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How Is A Tax Accountants KRA Different From That
Of A CPA?
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Educational Qualifications Tax accountants need
not have a dedicated degree like that of a CPA,
but should hold expertise in accountancy and
taxation-related matters. What they need to have
is a relevant qualification, and experience to
fulfill their responsibilities efficiently.
Becoming a CPA is tough. It requires individuals
to meet state-specific educational requirements,
and also for them to qualify for a rigorous CPA
exam before having the degree.
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Services and Responsibilities A tax accountant
is generally involved in matters such as tax
filing, tax submission, tax planning, and helping
clients who are suffering from tax-related
issues. They need to have a sound knowledge of
the latest tax laws to adhere to the correct
guidelines. When it comes to CPAs, their services
are vaster, which include financial planning,
forensic accounting, budget planning, audits,
etc, along with taxation as well.
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Scope When it comes to tax accountants, a tax
accountant in West Los Angeles only has
taxation-related matters as their scope of work.
As they are specialized in this specific kind of
job only, their scope seems narrow. But when it
comes to a CPA, their scope of work is a lot more
diverse. This allows them to work on a variety of
financial areas which includes taxation as well.
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Specialization A tax accountant in West Los
Angeles specializes in tax-related matters only.
They indulge in tax planning and preparation.
Their expertise lies in tax laws, and helping
clients minimize their tax liabilities. But CPAs
are multi-faceted professionals who have
expertise in many branches of accounting, like
auditing, budgeting, financial planning and
analysis, financial consulting, etc.
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Ethics Tax accountants are expected to adhere to
ethical norms and regulations. But they are not
entitled to rigorous regulations like that of a
CPA. A CPA is entitled to strict regulatory
standards from their respective state regulatory
boards. A CPA is also required to adhere to the
dynamic regulations and education standards to
remain updated with the latest amendments.
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