Are you wondering what it takes to become a Certified Public Accountant (CPA)? One of the main requirements is preparing for and passing the CPA Exam.
However, in order to take the exam, you must have the skills and practice to do so. With courses that focus on accounting, taxation and business, the B.S. in Accounting – Public online program from Northwest Missouri State University (NWMSU) effectively prepares students to sit for the CPA Exam.
Steps Towards Becoming A CPA
There are several important criteria for becoming a CPA to consider. Knowing this, the three specific requirements that individuals must meet to be a CPA include:
- Pass the Uniform Certified Public Accountant Examination (CPA Exam) set by the American Institute of Certified Public Accountants (AICPA) and administered by the National Association of State Boards of Accountancy.
- Complete 150 semester units of a college education.
- Hold one year of accounting experience.
Most professionals say preparing for and taking the CPA Exam is the most difficult part of becoming a Certified Public Accountant. According to the Association of International Certified Professional Accountants, the CPA Exam is composed of four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR) and Regulation (REG). Professionals must score a minimum of 75 on each part in order to be successful.
What Education and Experience Is Required for the CPA Licensure?
While some states allow candidates to sit for the CPA exam with 120 credit hours of collegiate study, all 50 states require 150 college credit hours for CPA licensure. A certain number of credits must be from accounting courses (some in specific subjects) and general business courses.
NWMSU’s B.S. in Accounting – Public online program helps students meet these content-specific educational requirements, although students still need to earn 150 credit hours (generally 30 hours more than a bachelor’s degree) for full CPA licensure.
Notably, students can continue working in accounting while earning this online accounting degree from NWMSU, potentially satisfying a portion of CPA licensure work requirements. Learn more about your specific state’s CPA licensure requirements here.
Benefits of CPA Licensure
Professionals who earn their CPA licensure benefit greatly from this prestigious accomplishment. According to Kenneth W. Boyd, former Certified Public Accountant, CPAs benefit in the following ways:
- Earn more money than non-CPAs: On average, CPAs earn between 5 and 15% more than non-CPAs.
- Have better opportunities: The career path for a CPA can be as versatile and exciting as you want it to be.
- A stable career to lean on: Those with a CPA license are in demand. The S. Bureau of Labor Statistics notes the demand for accountants and auditors is 6% through 2031.
- Earn more respect: CPAs often act as leaders and role models for other professionals.
Robert Half’s 2023 Salary Guide reports that CPA licensure is among the top accreditations and skills in the finance and accounting industry, putting public accountants and auditors in high demand for hiring. The industries hiring the most include construction, fintech, real estate, insurance, technology and more.
Earn an Online Bachelor of Science in Public Accounting
Due to their education, skills and areas of expertise, CPAs continue to be invaluable employees to companies and organizations of all sizes, spanning many industries. Besides education and experience, professionals must first pass the CPA Exam to pursue this coveted role in an organization.
Learn more about Northwest Missouri State University’s online B.S. in Accounting – Public Accounting program.
