Oh, the Places You Can Go… CPA Edition

Reprinted with permission of the New Jersey Society of CPAs, njcpa.org

By Nicole DeRosa, CPA MAcc, SKC & Co. CPAs and UWorld Accounting

Grit, dedication and a strong commitment of time are essential to passing the CPA Exam, reflecting a level of perseverance that lays the foundation for long-term professional success. Earning a CPA license carries significant weight in the accounting field. Beyond signaling expertise and credibility, it distinguishes you from your peers and opens the door to a wide array of career opportunities across public accounting, corporate finance, government and beyond.

Public Accounting Versus Private Accounting

When somebody first hears of a career in accounting, the first question is typically, “Are you in public or private?” Public accounting and private accounting differ in several ways. Public accountants work for firms that serve a wide range of clients, including businesses, government agencies and individuals, across many industries. Responsibilities of a public accountant typically include auditing financial statements, preparing tax returns, offering consulting and providing advisory services. Generally speaking, the work environment in public accounting is more fast-paced, and career paths often allow for specialization which can lead to advancement to senior roles in the firm.

On the other hand, private accountants are employed by a single company and focus on managing the company’s internal financial processes which can include maintaining financial records, budgeting, financial reporting, cost analysis, com­pliance and internal controls. The work environment is generally more stable and centered within the company’s finance or accounting department. Career growth includes roles such as controller, finance manager and CFO.

Government

Government accountants work within public-sector agencies at the federal, state or local level, where they are responsible for managing and overseeing the use of public funds; their work centers on ensuring that taxpayer money is handled properly, efficiently and in accordance with laws and regulations. The work environment is typically structured and mission-driven, with a strong emphasis on transparency, accountability and regulatory compliance. Government accounting roles generally offer predictable schedules, clear processes and a stable work setting, though deadlines tied to budget cycles or audits can create peak periods of activity. Career advancement can include higher-level administrative positions overseeing broader financial operations for an agency or department.

Business Owner

Business owners are responsible for overseeing the financial health of their entire operation and balancing these responsibil­ities alongside strategic decision-making, operations, marketing and leadership. Financial duties can include managing cash flow, budgeting, tracking expenses and revenue, reviewing financial reports, ensuring compliance with tax laws and making long-term financial planning decisions that support the company’s growth.

As a business owner, the work environment is highly variable and often fast-paced; the financial workload can shift dramatically depending on the business’s stage, season or growth plans. Career growth as a business owner looks different from traditional paths as growth comes from scaling the business and expanding operations. Over time, an owner may transition into roles focused more on leadership and strategy, delegating day-to-day financial tasks to internal staff or out­sourced specialists as the business matures.

Forensic Accountant

Forensic accountants specialize in examining financial information to detect, investigate and help resolve potential fraud, misconduct or financial irregularities; their work sits at the intersection of accounting, investigation and law. They analyze complex financial data to uncover patterns which can involve reviewing financial statements, bank records, contracts, transaction histories and internal controls to develop a clear picture of what happened and who was involved. The work environment tends to be investigative and detail-focused, often requiring collaboration with attorneys, law enforcement, regulators, insurance companies or corpo­rate leadership.

Career paths for forensic accountants can lead to positions within specialized forensic accounting teams at public accounting firms, government agencies, consulting firms or corporate investigation units. Those with extensive litigation or investigative experience may choose to transition into expert witness consulting or fraud examination leadership roles.

No matter which path you choose in the accounting profession, the CPA license provides a powerful foundation that can elevate your career in any direction. Each career route offers dynamic opportunities that will enable you to shape your future and thrive as a financial professional. With commitment, curiosity and strategic deci­sion-making, the possibilities with a career in accounting are truly endless.

Nicole DeRosa, CPA, MAcc, is director of tax at SKC & Co., CPAs and a brand ambassador at UWorld Accounting. She can be reached at nderosa@skcandco.com.