Essential CPA Glossary — Flashcards | CPA (Certified Public Accountant) | FatSkills

Essential CPA Glossary — Flashcards

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Key terms, acronyms, and concepts used by Certified Public Accountants (CPAs) in accounting, auditing, tax, and finance. Understand industry-standard terminology, such as GAAP, depreciation, and financial reporting, ensuring accuracy in professional communication. 

CFA vs CPA: A CPA offers broader corporate finance access, while a CFA specializes in investment-focused roles, making the CPA a strong generalist credential and the CFA a deeper dive into investing.

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401(k) Plan
Employee benefit plan authorized by Internal Revenue Code section 401(k), whereby an employer establishes an account for each participating employee and each participant elects to deposit a portion of his or her salary into the account. The amount deposited is not subject to income tax. This is the most common type of salary reduction plans.
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