A certified Public Accountant is the title of a qualified accountant that has gone through the process to receive a CPA license. A CPA has earned the title by completing a degree in accounting or another related business field, has sufficient experience in the accounting field (usually 2 years, 1 year is enough in some states) and has also completed (and passed!) the CPA exam. The CPA exam is the “accounting test” that will most certainly test your will and desire to become a licensed CPA.
The CPA exam, or accounting test, is a four part exam that must be taken and passed within a rolling 18 month period. In order to “pass” the accounting test, you must receive a score of 75 or higher, on each section. Each of the 4 sections can be taken separately, and it is highly recommended that you do this so you can spend adequate time on each section. The pass rate can be discouraging for CPA candidates. Only 3% of all CPA candidates pass all four sections of the CPA exam on their first attempt. Most candidates have to take 2 or more of the sections, 2 or more times.
The four different sections of the CPA test are:
- Auditing and Attestation
- Financial Accounting and Reporting
- Business Environment and Concepts
The CPA exam, or accounting test, is a uniform exam and is the same test that is given in every state of the United States and all US territories. It is called the Uniform Certified Public Accountant Examination and is administered by the National Association of State Boards of Accountancy (NASBA).
The requirements to apply for your CPA license are referred to as the “three E’s.” These “E”’s represent Education, Examination, and Experience. The requirements are state mandated, but are generally the same from state to state, with little variation.
It is important when studying for the accounting test, to be sure that you are using the best study materials on the market, in order to study efficiently and pass the exam in the 18 month rolling window. CPA Army offers new updated CPA Boot Camps that will guide you through the study process and help you pass the CPA exam in 30 days!