Becoming A CPA – Steps To Be Taken

If you have studied accounting and want to go further up, the next big step is to obtain a Certified Public Accountant (CPA) license which is prepared by the American Institute of Certified Public Accountants (AICPA), an accounting professional association in the United States. If you have decided to become a CPA, you must complete the process of sitting for the examination, passing it and then obtaining a license.

Becoming a CPA will increase your credibility and add to the value of your portfolio. You can also earn higher wages and other financial advantages after CPA. To be eligible for Certified Public Accountant (CPA), an undergraduate degree in any major with 150 credit hours of course work along with a minimum of 36 credit hours in accounting is required.

Here are some important steps you should be following in order to become a CPA:

• Perform thorough research and learn everything about the CPA examinations. There are many online examination resources available easily or you can learn from past aspirants who have already sat for the CPA exams.

• Ensure that you fit all the qualifications and then apply for the examination by obtaining an application, furnishing it with required details and then submitting it appropriately with the required fees and documents.

• This process could take anywhere from 6 weeks to 8 weeks, during which you can prepare for the CPA examination. You should keep yourself updated about the changes in the CPA examination which are very frequent.

• Choose your territory where you wish to qualify, as different territories and different jurisdictions have different requirements from their CPAs. This has much to do with your eligibility. Different instruction will be given for different territories and you should be careful to make a note of the same.

• You have to pay your examination fees next, which may vary for each state as well as qualifications. For instance, there is a $95 application fee in Pennsylvania. The Business Environment (BEC) is $180.95, Auditing (AUD) section fee is $230.55, Regulation is $193.35 and Financial Accounting and Reporting (FAR) is $218.15. If you are sitting for a second attempt, you have to pay the application fee of $95 again.

• The most crucial part is the preparation. You have to study really hard as only about 10% of the candidates who sit for the CPA exams, emerge successful in the first attempt. You should make it appoint to pass all the four parts of the exam in one attempt. Though usually, this does not happen, sitting for the exam over, and over again can become very costly.

• There are various ways to study for the CPA examination. Popular among them are live classes, online classes, self study CDs and cram sessions. Many institutions offer study materials as well as CPA review classes.

• You should schedule each section of your exams properly and at least 45 days in advance.

• Once you are eligible, fully prepared and understand your schedule for the CPA examination, just follow all the rules and instructions properly.

After taking the examination, you just need to anticipate the results. After you get them, act accordingly. If you pass all the sections and achieve the required credits, you have gained CPA license but if not, you must study harder for your options and sit for the CPA examination again.

If you want to excel in Accounting, you have to become CPA i.e., a Certified Public Accountant. You will require sitting for an examination and then passing all the sections before becoming a certified or licensed CPA. This will give you an edge over others and you will also enjoy a salary hike.