The Ultimate Guide to Becoming a Successful CPA
– The CPA Exam is required to become a licensed Certified Public Accountant (CPA).
– The CPA Exam consists of four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG).
– Other requirements for becoming a CPA may vary depending on jurisdiction.
– Changes to the CPA Exam are expected in 2024.
– CPAs earn their designation through educational training, experience, and passing the CPA Exam.
– CPAs have more flexibility and mobility in their career.
– They can become licensed in multiple states based on reciprocity laws.
– CPAs are sought out for their reliability, industry knowledge, and credentials.
– CPAs work in sectors such as public accounting, business and industry, government, education, and non-profit.
– CPAs are not limited to one industry or job function.
– They can perform services such as auditing, tax preparation, consulting, financial planning, and litigation consulting.
– Acquiring a CPA license requires time, patience, and planning.
– CPAs are required to complete 40 hours of continuing professional education (CPE) each year.
– The CPA license is considered prestigious and one of the highest accounting designations.
– Becoming a CPA assures quality and shows that an accounting professional has met high standards.
– Some reasons to become a CPA include prestige and respect, career development, and career security.
– After earning the CPA designation, individuals are more qualified to perform highly-specialized tasks.
– The average CPA accounting salary may be higher than other accounting professionals.
– All states require some level of accounting education to become a licensed CPA.
– Some states have experience requirements, such as a year of work experience under the supervision of a licensed CPA.
– The CPA Exam includes four separate sections: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation.
– Some states may require an ethics exam or ethics course to finalize CPA licensure.
– The CPA license shows that a professional accountant has met the profession’s highest standard of achievement.
– Each state has different requirements for taking the CPA Exam and earning CPA licensure.
– CPA license holders can work in a variety of sectors, including public accounting, business and industry, government, education, and non-profit.