1. What does it take to become a CPA?
Presented by ThisWayToCPA

2. What is a CPA?
Stands for Certified Public Accountant
Trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals
All CPAs are accountants, but not all accountants are CPAs

3. To become a CPA
3 E’s are required for licensure:
Education
Exam or Uniform CPA Examination
Experience
State Boards of Accountancy determine the laws and rules for each state/jurisdiction
Visit ThisWayToCPA.com for state requirements

4. Education
Requirements vary by state/jurisdiction
Require 150 semester hours
Number of accounting hours is dependent on state requirements

5. Uniform CPA Exam Computer-based format Consists of 4 sections
Auditing and Attestation (AUD)
Business Environment and Concepts (BEC)
Financial Accounting and Reporting (FAR)
Regulation (REG)
Same test no matter where it is taken
Passing score is 75 on a 0-99 scale
Question types include multiple choice, simulation and written communication
Eligibility to sit for exam depends on state requirements
According to the CPA Examination Mission Statement, the purpose of the Exam is "To admit individuals into the accounting profession only after they have demonstrated the entry-level knowledge and skills necessary to protect the public interest in a rapidly changing business and financial environment.“
Auditing and Attestation (AUD). This section covers knowledge of auditing procedures, generally accepted auditing standards and other standards related to attest engagements, and the skills needed to apply that knowledge. Business Environment and Concepts (BEC). This section covers knowledge of general business environment and business concepts that candidates need to know in order to understand the underlying business reasons for and accounting implications of business transactions, and the skills needed to apply that knowledge. Financial Accounting and Reporting (FAR). This section covers knowledge of generally accepted accounting principles for business enterprises, not-for-profit organizations, and governmental entities, and the skills needed to apply that knowledge. Regulation (REG). This section covers knowledge of federal taxation, ethics, professional and legal responsibilities, and business law, and the skills needed to apply that knowledge.

6. A candidate is an applicant for a CPA license
Experience
A candidate is an applicant for a CPA license
Many states require the candidate to have 1 – 2 years experience under a CPA
Additional requirements vary by the candidate’s:
Education – e.g., Graduate degree vs. 150 hours of undergraduate
Employer(s) – e.g., Public accounting firm vs. industry
Type of work – e.g., Tax professional vs. auditor

7. Licensure
Licenses gives the right to practice public accounting
Some state require ethics exam
Must comply with rules of professional conduct
CPA Exam & Licensure Center

8. Maintaining the license
Continuing Professional Education (CPE)
Typically 40 hours per year
Types (e.g., computer-based vs. group/classroom learning) of CPE vary by jurisdiction
May need Ethics training and compliance
Subjects vary depending to type of license and area of employment
Renewal every period

9. AICPA Student Affiliate Membership
Become an AICPA Student Affiliate member
Benefits include:
Exclusive scholarship opportunities
Member-only competitions
Special discounts on conferences
Access to industry news and publications
Exclusive discounts and offers on products and services from partners
Deals and access to the latest industry information at a fraction of regular prices

10. State Society membership
State CPA Society vs. State Board of Accountancy
Society is a membership organization
Board sets policy
How do State Societies and AICPA differ?
National vs. state/jurisdiction
Work closely together in many cases
State Societies
State societies are membership organizations that help members to keep current in state issues, participate in continuing education programs, enhance the accounting profession, and more
State Boards
A state board of accountancy establishes the educational requirements and determines the eligibility of candidates for attempting the CPA Exam. A state board of accountancy also controls the licensing of CPAs and the renewals of the licenses.
AICPA
The AICPA helps you enter the CPA profession and stay there, by connecting you to the people and information you need to succeed. It advocates on your behalf to regulators, legislators and the general public, letting them know how essential CPAs are to society. It provides continuing education opportunities to make smart accounting professionals even smarter. It launches websites like this one to provide all the tips, insight and data you could ever want to know. The AICPA also develops and grades the Uniform CPA Examination. It’s all part of the AICPA's plan to build accountancy’s reputation as a profession of individuals who are educated, ethical, and focused on serving the common good.

11. Let’s review Education Exam Experience Bachelor’s degree
150 semester hours
Exam
Apply to sit based on state requirements
Pass all 4 parts with a 75% or higher
Experience
1-2 years in accounting
Under a CPA
There are exceptions and variations to every bullet on this slide depending on the state/jurisdiction. This depicts a summary only.
Most requirements are determined by the state/jurisdiction in which you hope to practice. In general, this is a summary of the steps to CPA licensure.

12. Let’s review (continued)
License
Meet state/jurisdiction 3 E’s requirements
Other requirements (e.g., ethics exam)
Continuing Professional Education
40 hours of CPE per year
Renew license every 1, 2 or 3 years
Beyond
Join state society, AICPA and volunteer
Specialize in one or more areas (e.g., CFF)
There are exceptions and variations to every bullet on this slide depending on the state/jurisdiction. This depicts a summary only.
Most requirements are determined by the state/jurisdiction in which you hope to practice. In general, this is a summary of the steps to CPA licensure.

13. Understand your state/jurisdiction’s requirements
Tips
Understand your state/jurisdiction’s requirements
Take it one step at a time!
Focus on the education requirement first
Become eligible to sit for the Uniform CPA Examination
Study for (and pass!) the CPA Exam
Gain the required experience
The are many details included in this presentation. These are not meant to confuse you but rather to help you understand the differences among each jurisdiction. Remember to keep it simple for yourself by concentrating on the 3 E’s for your state. Typically, 150 hours of qualifying education, passing the CPA Exam and gaining 1-2 years of public accounting experience will get you to the CPA credential.

14. What’s ThisWayToCPA.com?
AICPA’s website for college students and CPA Exam candidates
A virtual warehouse chock full of the information (and motivation) you need to pursue a career in accounting
Includes features like
Find Your Fit
CPA Profiles
CPA Exam & Licensure Center

15. AICPA website for CPA candidates
Other resources
AICPA website for CPA candidates
AICPA’s website for high school students
NASBA website