Congratulations! So you got passed the biggest hurdle and succeeded in the difficult CPA exam. But do you know that passing the CPA exam is not the only bar to becoming a licensed CPA? Well, this will just take you one step closer to obtaining your CPA license. There are some other requirements you need to fulfill to become a licensed CPA.
From passing the exam to obtaining the license, Andrew Katz Tutoring helps you understand everything about becoming a CPA.
Let’s check the rest of the criteria to obtain your CPA license here in this blog.
Education
Before you appear in the exam, you have to meet your state’s specific requirements for accomplished credit hours. While most states require applicants to finish at least 150 credit hours before taking the exam, other states allow them to sit for the CPA exam after completing 120 credit hours, with the remaining 30 hours to be completed before licensing.
A bachelor’s degree usually requires more credits than 150 credit hours, hence a bachelor’s degree is one of the most fundamental prerequisites for becoming a CPA. Many candidates attend non-degree programs after receiving their bachelor’s degree to make up those extra credits.
While a master’s degree is not necessary to become a CPA, some applicants choose to pursue it to gain those extra credits. You should also verify your state’s guidelines to ensure you are earning the required amount of business and accounting hours.
Work Experience
Work experience criteria must be met regardless of whatever state you are attempting to obtain a license in. However, exact criteria differ by state, so make sure to verify the regulations in your jurisdiction. Most states need at least one year of experience working in public accounting or two years of experience working in private accounting for a government agency or teaching accounting at a university. In several situations, internships and voluntary work can count toward your required job experience.
Ethics Exam
Besides the three Es of the CPA exam- Exam, Education & Experience, there’s one more E you need to work on for the licensure process and that is Ethics. At present, there are over 30 states that require you to pass ethics exams. This means you may also have to pass one before you get your CPA license.
Some states that demand an ethics exam have their own test pattern developed by the state’s accountancy board. Most states that need an ethics exam, however, employ the pattern developed by the AICPA, which includes topics such as the AICPA’s Code of Professional Conduct, legal and regulatory concerns, and independence regulations.
The AICPA’s ethics exam is short and uses an open-book, self-guided study methodology. To pass the exam, you must score 90, but you are only permitted to make four mistakes. You can take the test online, but if you fail it three times, you must utilize a printed test sheet and mail it in.
Continuing Professional Education
Even after you have officially become a certified CPA, you may have to consider continuing your education. In most states, CPAs must take Continuing Professional Education (CPE) to maintain their CPE keeps CPAs up to date on new legislation and regulatory changes and allows them to learn new skills to aid them in their jobs.
Final Words
At Andrew Katz Tutoring, we not only help you prepare and pass the exam but stay on track in your journey to finally obtaining your CPA license. Unlike other review courses, we offer personalized gold assistance at every step of becoming a CPA, irrespective of the state in which you are taking the CPA exam.