An accountant is an individual who professionally practices accounting. CPAs have met licensing requirements, which include completing identified levels of education and work experience and passing the CPA exam. According to the AICPA (American Institute of Certified Public Accountants), earning the CPA designation provides professional benefits such as increased trust, opportunity, and financial reward. A certified public accountant (CPA) is a designation provided to licensed accounting professionals. The CPA license is provided by the Board of Accountancy for each state.
If you’re interested in becoming a CPA and starting your own firm, you can jump start your business by partnering with Intuit as a TurboTax Verified Pro. This can help you get referrals for your business and build your business quickly by tapping into what is a cpa their network of thousands of potential customers. If you’re starting right out of high school, the entire process could take up to 8 years. After licensing, then and only then, may the person use the designation and present themselves as a CPA.
How often can you take the CPA exam?
But the reward is a respected professional designation that most often comes with a significantly higher rate of pay. To give yourself the best chance possible when taking the exam, taking one of the best CPA prep courses might be worth considering. The REG section covers ethics and professional responsibility, business law, tax procedures and accounting, and federal taxation for individuals, entities, and property transactions.
Before you start your journey toward becoming a CPA, you may want to know what job or career opportunities you’ll have after obtaining the certification. After all, the certification requires putting in a lot of time, effort, and resources. Each state has different educational requirements, but they are all very similar in requiring at least 150 credit hours (a few states only require 120 credit hours) of relevant coursework. Are you ready for an exciting new career as a Certified Public Accountant (CPA)?
What Positions Can CPAs Hold?
This section will also test your knowledge of the ethics and independence required by the AICPA, the Sarbanes-Oxley Act of 2002, the Government Accountability Office, and the Department of Labor. In order to take the exam, most states first require that a student earns their bachelor’s degree. They are accounting professionals who have earned both their public license and also passed the privately-issued CPA exam. Although it may be easily confused with an accountant, a CPA is not a synonym for the role. CPA education requirements include a four-year bachelor’s degree and 150 total credits.
However, some are former CPAs with advanced business administration or financial management degrees and experience. These C-suite professionals supervise and direct their organization’s financial activities. In either case, remember that having a CPA license expands employment opportunities. For example, some law enforcement agencies hire CPAs to investigate financial crimes. Aspiring accounting professionals seeking to maximize their options generally choose to pursue licensure. According to the AICPA, the majority of U.S. jurisdictions offer licensure paths to candidates with two years of relevant professional experience.
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Though many states do not require candidates to hold an accounting degree, educational requirements usually include a minimum number of upper-level accounting courses. Thus, earning an accounting bachelor’s can help you fulfill the educational guidelines for your state. Many jurisdictions also stipulate that aspiring CPAs complete credits in related areas, such as economics, finance, business administration, and/or business management. A certified public accountant by definition is not a career path or job title, but a professional designation that can allow accounting professionals more flexibility and mobility in their career. Typically only licensed in one state, CPAs can become licensed in additional states based on reciprocity laws. Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world.
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- Accountants and auditors earned a median annual salary of $77,250 in 2021.
- As the accounting field continues to change, career opportunities are on the rise.
- You may choose to specialize in a particular area, such as forensic services, taxes, or working within an industry like health care.
- The three cores and three disciplines of the CPA exam each include both multiple-choice questions and task-based simulations.
- A CPA license affirms that you have gained the knowledge and mastered the skills needed to succeed as a CPA.
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In Canada, “CPA” is an initialism for Chartered Professional Accountant. This designation is for someone who would like to be a Canadian CPA. WGU is an accredited online university offering online bachelor’s and master’s degree programs. Preparing for the CPA exam takes significant motivation and focus, and studying with other CPA exam candidates could help you stay on track.
If you’re not sure where to start with your accounting degree search, see our ranking of the best online accounting degrees. In the field of finance, there are three broad categories of professionals. Two high-level accounting roles include financial controllers and chief financial officers (CFOs). This job board appeals particularly to accountants with international career aspirations. It lists openings in 19 global markets throughout North America, Europe, and the Asia-Pacific and Middle East regions. Those wondering how to become a CPA should understand the path is not easy.