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CPA Exam. Beta Alpha Psi What is a CPA? CPA stands for certified public accountant This credential is highly respected in the accounting profession. This.

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Presentation on theme: "CPA Exam. Beta Alpha Psi What is a CPA? CPA stands for certified public accountant This credential is highly respected in the accounting profession. This."— Presentation transcript:

1 CPA Exam

2 Beta Alpha Psi What is a CPA? CPA stands for certified public accountant This credential is highly respected in the accounting profession. This is one of many potential credentials you can earn throughout a career in accounting.

3 Beta Alpha Psi First, does your career path need the CPA credential Certain accounting professions do not require the CPA  Example: government accounting and many corporate accounting careers. CPA is not required for many accounting careers but it is a beneficial credential by adding a degree of credibility next to your name.

4 Beta Alpha Psi Second, what are the CPA licensing requirements for the state you want to work in Each state has different requirements for granting a CPA license Find out what the licensing requirements are for the state you want to work in. The 150 credit hour requirement is universal and is required by the AICPA. It is not a state licensing requirement.

5 Beta Alpha Psi Licensing Requirements Successfully Complete all 4 sections of the CPA exam within a 18 month period. 2,000 working hours within a 36 month period verified by a CPA Successful Completion of the AICPA’s Ethics Exam 150 educational units These requirements can differ by state

6 Beta Alpha Psi CPA Exam Parts 4 Parts to the Exam Financial (FAR): financial accounting, US and IFRS, government and non profit. 4 hours 90 questions and 7 task based simulations Auditing(AUD): audit process 4 hours 90 questions and 7 task based simulations

7 Beta Alpha Psi CPA Exam Parts Regulation (REG): taxation, business law, ethics, and professional responsibilities 3 hours 72 questions and 6 task based simulations Business (BEC): operations, economics, financial management, information technology 3 hours and 72 questions 3 written communication tasks. 7

8 Beta Alpha Psi Application Process/Testing Can apply to take 1-4 sections at time. *Then must take the sections applied for within 6 months of payment to NASBA. Must complete all four parts within a 18 month period. Must apply for CPA license in the state you plan to be employed but can sit for the exam and test in any state.

9 Beta Alpha Psi Testing Windows All 12 months in the year can be used for scheduling tests. But only 8 months out of the year are open for testing! Testing available during: January, February, April, May, July, August, October, November. Testing not available during: March, June September, and December.

10 Beta Alpha Psi Studying for the exam 18 months go by quick! Find a study material that works best with your learning abilities and strengths. Just because one might be more expensive doesn't necessarily mean it's better. Note: often the company you work for if in public accounting will pay for your study materials and will reimburse you for a portion or all costs to take exams the 1st time.

11 Beta Alpha Psi Additional Informative Resources Idaho State Board of Accountancy ISBA.Idaho.govISBA.Idaho.gov National State Board of Accountancy NASBA.orgNASBA.org American Institute of CPA’s AICPA.orgAICPA.org Prometric Testing Center https://www.prometric.com/en-us/Pages/home.aspx Free CPA Review Help


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