CPA qualification is determined on a state basis. Each state’s specific requirements are slightly different, but there are 3 major requirements in order to reach CPA qualification.
- Education. To obtain CPA licensure, the typical requirement is a 4 year degree in accounting. This usually includes 150 semester hours. Some other business related degrees can also work for your CPA qualification if you meet the 150 semester hours of coursework, and if a certain number of those are in accounting. Check with your state for specific CPA qualification requirements in semester hours and coursework specifics.
- Exam. Each CPA candidate must sit for the Uniform Certified Public Accountant Examination. The CPA exam is the same uniform exam administered by each state. There are four sections of the CPA exam, each must be passed with a score of 75 or higher. The four sections are Regulation, Business Environment and Concepts, Financial Accounting and Reporting, and Auditing. Each of the four sections must be taken, and passed within 18 months of beginning the testing process. If you do not pass all four sections during that time, the first exam must be retaken, until each is passed during an 18 month window.
- Experience. The experience required is much like an apprenticeship. The business experience that meets CPA qualification varies from state to state. In some states, only one year of experience is required before sitting for the exam. In other states, 2 years of relevant work experience is necessary to apply. For CPA qualification, the work experience is necessary in order to take the CPA exam and apply for CPA licensure. The work experience must be endorsed by a supervising licensed CPA in order for it to qualify.
There is also an ethics exam that is required before receiving your CPA license. It is the final step in reaching CPA qualification and obtaining your CPA license. For CPA exam study materials, and additional information, see us at CPAarmy.com.
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