Key Responsibilities and Required Skills for Certified Public Accountant (CPA)

🎯 Role Definition

A Certified Public Accountant (CPA) is a licensed accounting professional responsible for preparing, reviewing, and analyzing financial statements, ensuring tax and regulatory compliance, supporting audits, and advising leaders on financial strategy and internal controls. CPAs apply US GAAP/IFRS, lead month-end close processes, perform account reconciliations, manage tax filings, and improve accounting systems and policies. This role requires technical accounting expertise, strong analytical skills, and professional judgment; it frequently interfaces with executive leadership, external auditors, tax authorities, and cross-functional teams.

📈 Career Progression

Typical Career Path

Entry Point From:

Staff Accountant (Public or Private Accounting)
Tax Associate / Junior Tax Accountant
Junior Auditor or Audit Associate

Advancement To:

Senior Accountant / Senior Tax Accountant
Accounting Manager or Audit Manager
Controller / Assistant Controller
Director of Finance or Finance Business Partner
Partner (for public accounting firms) or VP of Finance (corporate)

Lateral Moves:

Financial Analyst / Senior Financial Analyst
Internal Auditor / Risk & Compliance Specialist
Tax Specialist / Tax Manager
Corporate Accounting Systems Analyst

Core Responsibilities

Primary Functions

Prepare, review and certify monthly, quarterly and annual financial statements in accordance with US GAAP and company accounting policies, ensuring accuracy and timely delivery to finance leadership and external stakeholders.
Lead and manage the month-end and year-end close processes, including journal entries, accruals, deferrals, reconciliations, consolidation of multi-entity financials, and issuance of management reports.
Maintain and reconcile general ledger accounts, prepare detailed account analyses and supporting workpapers for significant balance sheet accounts such as cash, A/R, A/P, fixed assets and inventory.
Plan, coordinate and support external and internal audits, prepare audit schedules and workpapers, respond to auditor inquiries, and implement corrective actions to address audit findings and control deficiencies.
Own the preparation, review and filing of federal, state and local tax returns and related compliance deliverables (corporate income tax, sales & use tax, payroll tax, and informational returns) and coordinate with external tax advisors as needed.
Design, document and monitor internal controls over financial reporting (SOX compliance where applicable), perform control testing, and recommend improvements to reduce risk and strengthen financial governance.
Research complex accounting and tax technical issues (ASC, FASB, IRS guidances), interpret standards, and provide practical recommendations to ensure compliant financial reporting and tax positions.
Develop and deliver budgets, forecasts and rolling financial projections; partner with business unit leaders to translate operational plans into financial models and actionable insights.
Perform variance analysis versus budget and prior periods, identify drivers of change, and present findings and recommendations to management in clear, data-driven formats.
Prepare and review cash flow analyses, working capital optimization strategies and liquidity forecasts to support treasury operations, capital allocation and short-term financing decisions.
Supervise, mentor and develop junior accounting staff and outside resources; delegate work, review outputs, provide technical training and map career development plans for the accounting team.
Manage fixed asset accounting including capitalization policies, depreciation, asset additions/disposals, impairment assessments and supporting schedules.
Execute intercompany accounting, reconciliations and eliminations for consolidated reporting; resolve intercompany discrepancies and support transfer pricing documentation where relevant.
Support financial system implementations, upgrades and ERP integrations (e.g., NetSuite, Oracle, SAP), define chart of accounts changes, map transaction flows and test financial postings and reports.
Prepare management, board and investor reporting packages, including KPI dashboards, segment reporting, commentary and executive summaries tailored to stakeholders.
Lead special projects such as cost accounting initiatives, process automation (RPA), expense management redesign or contract accounting to improve efficiency and accuracy.
Counsel senior leadership on tax planning opportunities, credits, incentives and the financial impact of strategic initiatives such as M&A, reorganizations and treasury transactions.
Ensure payroll accounting and payroll tax compliance by coordinating with payroll providers, reconciling payroll-related balance sheet accounts and reviewing benefit accounting treatments.
Maintain and update accounting policies, create standard operating procedures (SOPs) and train finance partners on new or revised processes to ensure consistent application across the organization.
Conduct month-end and ad hoc reconciliations for bank accounts, intercompany balances, inventory valuation and prepaid expenses; troubleshoot reconciling items and implement corrective actions.
Prepare and file regulatory and compliance reports, coordinate SEC filings and disclosure requirements for public companies (10-Q, 10-K), and support compliance with external reporting timelines.
Provide advisory support for cross-functional initiatives (procurement, sales contracts, lease accounting ASC 842 implementation) to ensure proper accounting treatment and controls.
Monitor changes in accounting standards, tax law and industry-specific regulations and proactively communicate their impact to finance leadership and operations teams.

Secondary Functions

Support cross-functional projects such as ERP rollouts, M&A due diligence, and process improvement initiatives by providing accounting expertise and validating financial assumptions.
Assist in the development and maintenance of financial process documentation, accounting manuals and internal knowledge bases to aid consistency and onboarding.
Coordinate with external advisors — auditors, tax consultants, valuation specialists — to efficiently collect information, validate conclusions and defend positions during reviews.
Provide ad hoc financial modeling and scenario analysis to support business cases, pricing decisions, capital investment evaluations and strategic planning.
Participate in continuous improvement efforts to automate reconciliations, reporting and routine accounting tasks using tools like Excel macros, Power BI, Tableau or workflow platforms.
Help manage banking relationships and debt covenant reporting; prepare covenant calculations and supporting documentation for lenders.
Serve as a point of contact for vendor and customer accounting issues, resolving disputes related to billing, credits, and contract accounting.
Support payroll and benefits teams with accounting inputs for new programs, plan changes and related tax treatments.
Provide periodic training sessions and knowledge-sharing to non-finance teams about basic accounting principles, expense policies and internal control responsibilities.
Assist with internal financial audits, compliance reviews and remediation activities to strengthen control environment and operational transparency.

Required Skills & Competencies

Hard Skills (Technical)

Certified Public Accountant (CPA) license required or active CPA candidate status.
Deep knowledge of US GAAP; experience applying ASC standards, revenue recognition (ASC 606), lease accounting (ASC 842) and other technical pronouncements.
Experience with tax compliance and preparation: corporate income tax, sales & use tax, payroll tax, state filings, and coordinating federal tax positions.
Audit experience: planning and supporting external audits, preparing audit schedules and managing remediation of audit findings.
Strong month-end close discipline including journal entries, accruals, consolidation and financial statement preparation.
Advanced financial modeling and forecasting skills with proficiency in Excel (pivot tables, VLOOKUP/XLOOKUP, complex formulas, macros).
ERP system expertise: hands-on experience with systems such as NetSuite, Oracle EBS, SAP, Microsoft Dynamics or QuickBooks Online.
Experience with account reconciliations, variance analysis, fixed assets accounting and intercompany eliminations.
Familiarity with Sarbanes-Oxley (SOX) controls, internal control design and control testing methodologies.
Tax and accounting research skills; proficiency using research tools (RIA, Thomson Reuters, BNA) to support technical positions.
Experience preparing SEC reporting and disclosures (preferred for public company roles).
Proficiency with reporting and visualization tools (Power BI, Tableau) and financial consolidation tools (Hyperion, OneStream) a plus.
Knowledge of payroll accounting, benefit plan accounting and compliance with related tax regulations.
Experience with accounting policy development, process documentation and implementation of SOPs.

Soft Skills

Exceptional attention to detail and commitment to accuracy in financial reporting and tax filings.
Strong analytical and problem-solving skills with the ability to identify root causes and recommend practical solutions.
Excellent written and verbal communication skills; able to explain complex accounting issues to non-accountants and senior executives.
Time management and prioritization skills; proven ability to meet tight deadlines in high-volume environments.
High ethical standards, integrity and professional skepticism when evaluating financial data and internal controls.
Collaborative team player who can work cross-functionally and build relationships with stakeholders across the organization.
Coaching and mentorship ability to develop junior staff and foster a culture of continuous learning.
Adaptability and resilience to manage changing priorities, regulatory updates and business growth.
Business partnering mindset with commercial acumen to translate accounting outcomes into strategic insights for leaders.
Detail-oriented project management skillset to lead implementations, audits and process improvement initiatives.

Education & Experience

Educational Background

Minimum Education:

Bachelor’s degree in Accounting or Finance (required).

Preferred Education:

Master’s in Accounting, MAcc, MST, or MBA with accounting concentration.
Active CPA license strongly preferred; Big Four or regional public accounting experience favorable.

Relevant Fields of Study:

Accounting
Finance
Taxation
Business Administration
Economics

Experience Requirements

Typical Experience Range: 3–7 years of progressive accounting experience (combination of public accounting and corporate accounting preferred).

Preferred:

5+ years of experience including public accounting audit or tax experience and at least 2–3 years in a corporate accounting role.
Prior exposure to ERP implementations, SOX compliance, SEC reporting or multi-entity consolidated environments is highly desirable.
Demonstrated history of leadership, process improvement and delivering accurate, audit-ready financial reporting.