CPA Certification Steps

Accountants working in specialized fields like forensic accounting, cost accounting, and financial advising may decide to pursue CPA licensure to boost their reputation and provide their clients with additional services. A certified public accountant (CPA) is a licensed professional who has passed an examination administered by a state’s Board of Accountancy. When you pay a professional to do your taxes, you are getting the added benefit of numerous other services, including accounting, record-keeping, tax consultation, and auditing.

What are the duties of a CPA?

Your exact path to CPA licensure may differ depending on where you live. This guide covers general CPA licensing details and standards followed throughout the nation. The CPA Evolution initiative will change the licensure model for future CPA candidates in 2024. Once you click “continue,” you will be brought to a third-party website. Please be aware, the privacy policy may differ on the third-party website. Adtalem Global Education is not responsible for the security, contents and accuracy of any information provided on the third-party website.

Why were CPA designations implemented?

Logan Allec is a CPA and the founder of tax relief company Choice Tax Relief, where he represents individuals and businesses who owe significant back taxes to the IRS or their state. He is also an expert in discreetly helping those who have gotten behind on their tax filings get back in compliance. An avid content creator, Logan publishes weekly videos to his YouTube channel to inform and educate everyday Americans who have found themselves in tax trouble on how they can get a fresh start.

Certified Public Accountant: What the CPA Credential Means

This section also covers the alternative minimum tax and both estate and gift taxation. Education requirements vary the most among state boards of accountancy. For instance, Georgia only requires exam candidates to have a bachelor’s degree with 20 https://www.bookstime.com/ semester hours in non-introductory accounting courses. A CPA is a financial professional licensed by a state board to provide accounting services to the public. A CPA performs accounting duties such as tax preparation, auditing, and consulting.

Careers for CPAs

Note that the website may still be a third-party website even the format is similar to the Becker.com website. It’s important to note that things like experience, location and role also affect salary, so it’s important to factor these in when considering earning potential. Let us know what type of degree you’re looking into, and we’ll find a list of the best programs to get you there.

These variables extend to areas such as U.S. citizenship and state residency. Social Security number (SSN) to sit for the exam or finalize your CPA certification. For instance, Alaska does not have any citizenship, residency, or SSN requirements, while North Carolina requires all three. States generally require CPA certification candidates to have at least one year of relevant experience.

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• The package also includes unlimited practice tests, flash cards, and detailed explanations.
• The interests and standards of the profession are centrally guided by the American Institute of Certified Public Accountants or “AICPA.”
• If you need extra semester hours after your degree, then a master’s degree is a viable option.
• Most test-takers focus on one section at a time, but you can schedule multiple sections back to back or even on the same day.
• You can also practice with a shortened sample test from AICPA, which familiarizes you with the CPA exam software.
• Beyond education, aspiring CPAs must meet other eligibility criteria to sit for the CPA Exam.

To comply with SEC regulations, you must be a CPA to prepare and file reports. The AICPA administers the four sections of the CPA exam on a rolling basis throughout the year. Within those 18 months, there are several windows to retake tests, what is a certified public accountant but you cannot retake a section in the same window. After receiving your test scores, you must wait 24 hours to reapply for the same section. The difficulty of the CPA certification process depends on your accounting skills and exam prep.

• Experience in public accounting and your degree and licensure can make getting hired as a CPA easier.
• CPAs who specialize in financial planning advise individuals and businesses on various aspects of financial management, such as investments, retirement planning and estate planning.
• Unlike some other standardized tests, the CPA exam score is not a percentage of your correct answers, and scores are not curved.
• On the day of your exam, you’ll need identification, such as a driver’s license, passport, or state identification card.
• Several other online resources are available to help you study for the CPA exam, although it’s important to ensure courses and materials are up to date and designed or taught by credentialed instructors.
• Beyond traditional accounting tasks, CPAs also serve as trusted advisors to their clients, offering insights on a wide array of business matters.

What is a CPA? Frequently asked questions

The three cores and three disciplines of the CPA exam each include both multiple-choice questions and task-based simulations. The exam lasts 16 hours in total—four hours per section—and candidates can take different sections of the exam on different days rather than in one sitting. The CPA exam consists of four sections, testing candidates on topics like taxation, financial planning, auditing and accounting technology.

States generally allow candidates to sit for each section individually and in any order. You can also take two, three, or all four of the exam sections in a single session. To become a licensed CPA, you must pass the CPA Exam, a four-section, 16-hour assessment.