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CPA from A to Z Part Two

Who can take the CPA Exam?

The CPA study eligibility criteria relate to the education and experience, striving accountants must show significant effort after the secondary stage to sit for this test.

A bachelor's degree from an accepted institution was considered sufficient training for the exam.

The generation of new supervisory and compliance laws has, however, resulted in a body of information that cannot be finished in a 4-year degree program in today's accounting climate. 

Fast developments in technology have also significantly altered the skill sets that CPAs are supposed to have in practice management, audit, and compliance. 

The AICPA has changed its educational commission in response to these changes. 

 30 hours of graduate-level instruction are also recommended in addition to the 120 semester hours usually offered in a baccalaureate degree program, This 150-hour rule is implemented by almost all US. states.

In general, CPAs comply with educational eligibility through:

  1. A bachelor's degree in accounting, plus an accounting master's degree.
  2. A bachelor's degree in another area, plus a master's degree in accounting or taxation, or an MBA with a focus on accounting.
  3. In five years of study, a dual program that offers both bachelor's and master's degrees in accounting.
  4. A bachelor's degree in accounting, supplemented by a graduate training course of 30 semester hours in taxation and accounting.

How do I apply for the CPA Exam?

Choose the field where you intend to sit for the test first. This isn't a hard question for many professionals; it's focused on residency and where you expect to practice. 

Different alliances of residence, citizenship, and academic qualifications can make some states more acceptable than others.
Again, follow the accountancy board rules of each state while you consider where the exam is best to sit.

Until entry, ensure that before you apply, all educational standards have been met. 

Collect original transcripts for assessment from undergraduate and graduate school courses.

Some states provide pre-evaluation services before enrollment and some command that registration materials be followed by transcripts. 

The length of time needed to process a registration varies; preparing for a wait of one or two months is suggested by many rules.

You decide your intent to sit for part or all of the four-section CPA review by registering. Within a specific period, each of the four exam sections is conducted separately; you can register and pay for all four at once, or for individual sections. 

You will be given a Notice to Schedule when your registration is approved (NTS). 

When you receive your NTS, during the next available testing window, you can register online for a seat. 

You can take any part of the CPA exam you want, It is usually recommended that you book your seat at least 45 days before your examination date.

The Preparation

The exact amount of time that aspiring CPAs need to prepare properly for the exam is difficult to predict. 

The preparation criteria of each applicant will vary, depending on individual levels of comfort with the content of each segment. 

However, for each test, the AICPA makes a blanket recommendation of 8 to 12 weeks of review. 

 More precisely, the following time allotments are suggested:

  • 100 hours of Auditing and Attestation (AUD).
  • Climate & Ideas for Industry (BEC)-80 hours.
  • 160 hours of Financial Accounting & Reporting (FAR).
  • (REG) regulation-110 hours.

 

Since each test section needs different training levels, for each exam, you will need to configure the timeline. 

Don't forget to include holidays, job commitments, or upcoming personal activities that will pull you away from your studies when you project your timeline.