Both Financial Consultants and Public Accountants are organizations registered with the government, so not everyone can establish such organizations/businesses. While these two professionals have at least a master's degree such as a Macc and an MBA, there are also differences in the specific certifications that the two organizations must have. A public accountant must have a certificate
Certified Public Accountant (CPA) while Financial Consultants must have Certified Management Accountants (CMA).
Task Difference
Financial Consultant Organizations are tasked with providing financial consulting services to people/institutions who need information assistance or advice for investments, accounts payable, taxes, budgeting etc. But Financial Consultants do not make decisions. So the decision-making remains in the hands of the client.
While the Public Accountant is tasked with assisting entrepreneurs or companies to prepare financial statements, make tax reports, general audits, and special audits. Special audits are only carried out if a company is suspected of fraud.
Certified Public Accountant (CPA) while Financial Consultants must have Certified Management Accountants (CMA).
Task Difference
Financial Consultant Organizations are tasked with providing financial consulting services to people/institutions who need information assistance or advice for investments, accounts payable, taxes, budgeting etc. But Financial Consultants do not make decisions. So the decision-making remains in the hands of the client.
While the Public Accountant is tasked with assisting entrepreneurs or companies to prepare financial statements, make tax reports, general audits, and special audits. Special audits are only carried out if a company is suspected of fraud.