Jordan Johnston, a Certified Public Accountant at Lowrey, Powell, Stevens, and Mangum, outlines the areas of specialization that CPAs cover in public accounting.
Heather:
What is that in accounting for you?
Jordan:
In the CPA world, we are accountants. So in Texas, believe it or not, you're not an accountant unless you're a Certified Public Accountant. So that word is exclusive for us, really. I have a license to practice accountancy, which sounds nerdy, but there you go. We're licensed by a statement.
Marc:
Sounds like a fake word. It does accountancy.
Jordan:
Throw it around off. I don't know why I'm doing it on a podcast now. But a piece of what we do is also tax. And so I work mostly with tax these days, but the areas that we cover in public accounting would be tax, accounting, and then audit services. So when you hear the word audit, a lot of people think of an IRS audit.
And yeah, we deal with IRS audits and IRS notices. But another thing we do is financial statement auditing, and that's where we will go and audit or review a set of financials. We'll draft an opinion letter and let third-party users know whether or not they can rely on these financials.
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- [110] SQ Segment 1 - Clip 2 -
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