What do the acronyms CPA and CFP, mean?
CPA stands for Certified Public Accountant. Practitioners must be licensed in any state in which they work. All CPA’s have passed a stringent 2-day examination which tests for competence in the areas of accounting, tax and auditing. CFP, stands for Certified Financial Planner practitioner, which is a certification awarded by the the Certified Financial Planner Board of Standards, Inc. The CFP, practitioner has also passed a rigorous 2-day examination which tests a wide range of financial knowledge and skills. Besides the examinations, candidates need to have fulfilled substantial experience requirements. Practitioners are also required to maintain their knowledge with ongoing continuing education.
