It has become a requirement in many states to complete 150 hours of study before sitting one can qualify to sit for CPA exam. In the current business atmosphere, a CPA must be able to communicate and work well with clients and colleagues, as well as develop the analytical skills needed in the current business environment. Complicated business problems require skills and maturity to make viable decisions in a service business environment. The 150 hours of study you need to have in the accounting, business, tax, and general education segments, are delineated below.
- Financial, Intermediate, Advanced, and International Accounting, Financial Statement Analysis, and Financial Reporting
- Financial Statement Auditing, Internal Audit, and IT Audit
- Income Taxation, Financial Planning, and Corporate Taxation,
- Cost Accounting, Accounting Information for Decision Making, and Managerial Accounting
A course that does not conform to those outlined above may require a written explanation, such as a course catalog or a syllabus, or even a letter from a professor explaining the course. An exam candidate should have documentation prepared in the event that it may be required at the exam.
Some other courses and activities that count toward the requirement for 150 accounting hours of study and may have the required coverage include Accounting Information Systems, Accounting Internship (limit of three semester hours), Contemporary Issues or Topics in Accounting, Accounting Theory, Governmental and Not-for-Profit Accounting.
There are several approaches to completing these 150 hours of study.
- Combine an undergraduate accounting degree with a master’s degree at the same school
- Combine a degree from a different discipline with an MBA concentrating on accounting
- A professional accounting school can lead to a master’s in accounting.
- An online course leading to an accounting degree
An online search will reveal many schools offering the appropriate courses.
- American Institute of Certified Public Accountants (AICPA) Examinations team has resources for boards of accountancy, such as presentations, materials, and informational meetings.
Receive benefits of AICPA membership, such as access to a community of accounting professionals, discounts, news and publications, while studying for the CPA Exam as a CPA Exam Candidate Affiliate.
- Accounting Coach offers good advice on how to become qualified for the CPA exam.
The level of learning needed to complete the courses of technical expertise and to develop CPA skills needed to work in today’s business world is best acquired at the graduate level. Students who learn at the graduate level also generally perform better on the CPA exam. In business, those with an MBA usually command 10 to 20 percent higher starting salaries. Additionally, an MBA holder is much more likely to be promoted, become part of the management team, and be invited to join the partnership.
The Uniform Certified Public Accountant (CPA) Examination must be passed to qualify for licensure as a CPA in any of the 55 U.S. jurisdictions (the 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, and the Commonwealth of Northern Mariana Islands. CPAs are the only licensed accounting professionals.
About the author:
Dee is an internet marketing strategist and is also responsible for vairous administrative tasks at her company. She does freelance writing/blogging on the side and enjoys ghost writing as well.