Have you ever dreamed of becoming a CPA? If so, you’re not alone – the career path of a Certified Public Accountant is one that is both challenging and rewarding. While the journey to become a CPA may seem daunting, it is certainly achievable with hard work and dedication. In this post, we’ll explore what it takes to become a CPA, including the education and experience requirements. So if you’re ready to learn more about this exciting profession, read on!
Get 150 credit hours from an accredited college or university
Getting 150 credit hours from an accredited college or university is no small feat. It is a rigorous process that requires hard work and dedication. Having 150 credit hours often proves beneficial when applying for jobs or higher education, as it shows employers and universities the individual has a wide breadth of knowledge in the field that exceeds the basic requirements of an undergraduate degree. Therefore, anyone looking for a competitive edge on their job applications should strongly consider acquiring these additional credit hours from an accredited college or university. This is a great opportunity to get a masters degree and stand apart from peers even more.
Check your state’s requirements for specific direction on how many credits in each subject you need to apply to be a licensed CPA. Please note that some states will let you sit for the exams with 120 credits completed, but all states require 150 credits to be fully licensed.
Complete the Uniform CPA Examination
Completing the Uniform CPA Examination is a major milestone in the career journey of an aspiring certified public accountant. Developed by the American Institute of Certified Accountants, the core purpose of the examination is to provide an objective assessment of an applicant’s demonstrated knowledge, skills, and abilities related to professional competency requirements.
You need to prep for the exam! As crazy as it sounds, some people neglect to study at all after finishing the required credit hours. With pass rates around 50% this is a hard test! Get a great study plan – most employers cover a portion or all of it. This is really the only way to see great results on the exams. Trust us on this one!
The examination tests an individual’s capacity to apply theories and practical understanding of accounting principles and processes while adhering to standards such as Generally Accepted Accounting Principles (GAAP).
Consisting of four parts:
1. Auditing and Attestation (AUD)
2. Financial Accounting and Reporting (FAR)
3. Regulation (REG)
4. Business Environment and Concepts (BEC)
This comprehensive evaluation provides assurance that individuals can demonstrate their professional standing through technical familiarity with commonly accepted accounting practices. Passing this prestigious assessment not only represents a great accomplishment for prospective CPAs but also allows them to move towards meeting other prerequisites for obtaining a license to practice as a certified public accountant.
Meet experience requirements by working as a CPA for a certain amount of time
Certified public accountants (CPAs) must meet certain experience requirements in order to obtain their licensure. These requirements are typically met by working as a CPA for a specified amount of time; this usually is around 2,000 hours depending on the state you are practicing in. This amount of experience ensures that CPAs understand the fundamentals of the profession and have had the opportunity to acquire skills unique to their specialty. As CPAs strive to meet their experience requirement, they also demonstrate commitment to professional development and ongoing education throughout their career.
Obtain licensure in the state where you wish to practice accounting
Obtaining licensure in the state you wish to practice accounting is a process that requires research, time, and dedication. Depending on the region, it may involve taking extra ethics examinations or completing approved educational qualifications. It is important to check in with local governing bodies for specific rules regarding licensure, because there may be different qualifications depending on the types of services to be offered.
Although there can be logistical hurdles throughout the application process, dedicated professionals should feel confident knowing there is light at the end of the tunnel once all criteria are satisfied. With everything in place, they can feel prepared and proud to start their career as a licensed accountant… and get a nice pay raise too!
Summary
If you are considering a career in accounting or becoming a CPA, there are certain requirements that must be met. I’ve personally enjoyed my career in accounting and entrepreneurship. The CPA opens many doors, but getting it is tough.
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