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Please write a 3-page (double space) report on a CPA (CertifiedPublic Accountant). Please mention everything and anything you canabout a CPA. This is very urgent and important. Doesn't have to betechnical. Just please be sure to include 3 pages worth of content,again double spaced.

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Irving Heathcote
Irving HeathcoteLv2
2 May 2018
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Please edit and rewrite the following in YOUR OWN WORDS... sothat it cannot be passed as plagiarism. Also, it needs to passturnitin.com inspection. I am just asking for a very skillfullrewording of this passage that is distinguishably and uniquelydifferent.

What is a CPA?

A CPA, or Certified Public Accountant, is a designation reservedfor accountants in the US who pass the CPA exam. This designationshows an expertise in the field. To become a CPA in the US, astudent must pass the exam and meet other state requirements suchas gaining a certain amount of work experience or furtherededucation. The CPA licenses accountants to provide their servicesto the general public. The CPA designation is taken very seriously,as its requirements maintain that only the most knowledgeableaccounts can qualify. The designation is usually used behind aperson’s name to signify the level of experience, and is often apunishable offense if it is used without actually passing the examand requirements.

The CPA Exam Requirements

International students who want to become an expert inaccounting and achieve the CPA designation will first need to passthe CPA exam. The exam is certainly not easy and tests many of themost important accounting principles. The exam is called theUniform CPA exam, and the eligibility to actually take the examdepends on the exact state the student plans to test in. There arethree main requirements for taking the CPA Exam. They arecategorized as the 3 E’s: Exam, Education, and experience. One ofthe main qualifications to sit for the exam is advanced education.Undergraduate degrees carry 120 credit hours. The CPA exam usuallyrequires 150 credit hours. This means students will have to achieve30 hours of graduate level coursework. It most cases, aninternational student will take the 30 extra hours and thencomplete a few extra classes to earn a master’s degree inaccounting. The exam also tests some of the laws of the stateincluding contract and state laws and often tests the knowledge offederal laws as well. The third requirement to sit for the exam isusually some type of experience in the field of accounting. Whilenot mandatory in all states, some states require that a CPAcandidate have 2 years of work experience in accounting or taxpreparation. Some states only require general experience inaccounting.

Learn What a CPA Does

While the main function is to offer public accounting services,the CPA designation can allow accountants to do many other things.One of the main functions of a CPA is auditing, either for a smallor large business. Auditors go through financial statements andmake sure there are no discrepancies. Many CPAs go on to theexecutive levels for companies, as either CFOs or CEOs. Inaddition, many CPAs work in the tax field working income taxes andfederal and state taxes for small or mid-sized companies. Otherroles of CPAs include financial analysts, financial planners,forensic accountants, Management consulting, estate planning andcorporate finance.

The Many Benefits of Becoming a CPA

Certified public accountants are at the top of their field.Students interested in studying accounting should give seriousconsideration about getting the CPA in the US. In order to grow inan accounting career a CPA designation is almost necessary. Inaddition, CPAs will usually get paid higher. Those with a master’sdegree and CPA will see their salary go up even higher. Inaddition, being a CPA in the US will open the door for so many morecareer opportunities. Accounting professional are a hot commodity,and those with an advanced degree and CPA designation will be onthe top of the list for most employers. Certified publicaccountants in the US have a lot of responsibility, but being atthe top of your field is a great feeling! International studentsinterested in studying accounting will find that becoming a CPA andgraduating with a degree in accounting will allow them to chasethere dream, whatever it may be, because it is such a versatilecareer and skillset.

What types of skills will I need?

To begin a successful career in accounting, you will need todevelop a wide array of knowledge, skills and competencies, rangingfrom a strong understanding of accounting and business concepts toeffective leadership and communication skills. You will also needto have a broad business perspective, which will enable you to "seethe big picture" of the internal and external factors that impacthow a business operates. Technology will also be a major enablerthroughout your career, so it's critical to stay abreast of andutilize new computer applications and systems as necessary.

Problem-solving, analytical and researchskills - You should be able to analyze, compare andinterpret facts and figures. The ability to identify and solveunstructured problems in an unfamiliar setting and provideinsightful consulting advice is a valued quality. Creative thinkingwill help you face issues on a daily basis and generate innovativesolutions. Also, it is essential to be able to effectively andefficiently research, organize and report on technical and/orindustry specific issues utilizing print, electronic or humansources.

Personal skills -Accounting is a service activity, and you will have to work well inteams as well as in one-on-one situations. Critical to anyorganization's success is the ability to lead, motivate and empowerteams to attain clear, concrete, timely and measurable results.

Strong communication skills including the ability tobe a good listener- You will becalled upon to persuasively present, discuss and defend your viewsboth formally and informally, in writing and verbally. Clients andco-workers will present you with issues and questions you will needto interpret and respond to quickly. The ability to show empathyand sensitivity to their situations will position you in afavorable light and earn their respect and trust.

Understand emergingtechnologies- You need to keepcurrent on emerging technologies like e-commerce, image processingand workflow technology, and understand how these impact businessoperations and the use of information for decision making. Youshould know how to use the Internet, e-mail and discussion boards,as well as be familiar with the latest spreadsheet, database, wordprocessing, accounting, and business and presentation softwarepackages.

Broad BusinessPerspective- You need a keenbusiness sense and an awareness of current events, both locally aswell as globally. As a key business partner to clients and/orcompany management, you add value to the organization by makingappropriate recommendations based on your understanding of companyoperations, policies, practices and competitive factors.

I do not need you to write essay, just provide as many impacts that the new Trump Tax Plan will have on a family like this. Before I construct this essay I would like all the advice and tips about this tax plan that I can get.

John and Janet Baker are husband and wife and maintain a household in which the following persons live: Calvin and Florence Carter and Darin, Andrea, and Morgan Baker. The Baker’s address is: 12591 Tiger Lane, Baton Rouge, LA 70809.

· John and Janet have asked you how they will be impacted by the Trump Tax Plan. They have read some articles but they are curious how these changes will impact individual taxpayers.

1. Explain three provisions of the Trump Tax Plan that will impact the Baker’s as individual taxpayers.

· Write a letter to the Baker’s from your CPA firm providing answers to the questions.

· Use fake firm name.

· Letter should be one-page single spaced.

· The letter should be written on your company letterhead (same letterhead used in Research Problem 1).

· Write a memo for your firm’s client file that lists and discusses the basis for the advice rendered.

You are the new assistant controller for Supreme SportsPerformance and Training (SSPT), Inc. SSPT just leased a new copierfrom Zeros Corporation, and the terms of the lease are: •The leasewas signed on January 2 of the current year. •The lease cannot becancelled. •The cost and fair value of the copier is $30,325. •Thelease term is five years, which is also the useful life of thecopier, and payments of $8,000 are to be made at the end of eachyear. There is no renewal option or bargain purchase option. BothSSPT and Zeros use straight-line depreciation. •The interest rateused by Zeros to compute the payments is stated in the leaseagreement as 10%. •Residual value is unguaranteed and estimated at$2,000. •The lessee will pay executor costs of $200 per year. •Thelast time SSPT tried to get a loan, the company received a quotefor an interest rate of 18%. The company has been shaky financiallyfor the past two years and has missed some payments on loans. Therehave even been rumors that the company may not be around in acouple of years. •The copier will go back to Zeros at the end ofthe lease. As you finish looking over the copier lease, Mr. Kahn,your boss, stops by your office. "I see you're looking at thecopier lease. So, how do you think we should account for it?" heasks. "I just reviewed lease accounting before I took the CertifiedPublic Accountant (CPA) exam," you reply. "I'm sure it's a capitallease." "That can't be right!" your boss exclaims. "The agreementspecifically says that Zeros will account for the lease as anoperating lease. That means they will still show it as their asset.If we report it as a capital lease, we'll be showing it as anasset, too! You'd better go back and check. Write me a memo whenyou are sure about what we should do." Based on your analysis ofthe information provided, answer the following questions: •Howshould the lease be classified for SSPT? Why? •How will Zerosclassify the lease? Why? •Are there any journal entries needed forthe first two years for SSPT? Why or why not? If yes, what journalentries are needed? If not, why are they not needed? •How will thelease be reported in the financial statements for both SSPT andZeros?

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