Certified public accountants, also known as CPAs, are professionals who deal with financial records. In addition to preparing and examining financial documents, CPAs ensure that the records are accurate. They also prepare taxes and assess the financial workings of a business to help ensure it’s operating at maximum efficiency. Here is an overview of what becoming a CPA all entails.

Education Requirements

Accountants, in general, must have at least a bachelor’s degree in accounting or a related field. Becoming a CPA requires additional education, certifications, and passing exams. Individuals who want to become CPAs typically go beyond a bachelor’s degree because of the education required to become a CPA.

The aspiring CPA may earn the degree in accounting or business administration with a specialization in accounting. The state in which the CPA works often mandates the amount of education the candidate must have. Most states do require that CPAs complete at least 150 hours of college coursework before they can become licensed. Since this is 30 hours more than they would earn with a bachelor’s degree, most candidates either earn the master’s degree or just take additional graduate courses to meet the state’s requirements.

Another option offered at many schools is a 5-year combined bachelor/master degree program that meets the requirements. The actual requirements to become a CPA can vary from state to state, and a lot of this specific information can be found on the American Institute of Certified Accountants (AICPA) website.

Certification and Licensure

CPAs obtain licensure through their state’s Board of Accountancy. To become licensed as a CPA, the individual must meet the educational requirements of 150 hours mentioned above and pass a national certification exam. The individual must also pass a four-part Uniform CPA Examination. This exam, which is offered through the AICPA, does not have to be passed all at one time.

Most states do require that all four parts be completed within a year-and-a-half after passing the first test, according to the U.S. Bureau of Labor Statistics (BLS). In addition to completing the education requirements, some states also require that CPAs have a certain amount of work experience before they can sit for the licensure/certification exams.

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Continuing Education

Because of the ever-changing laws in the accounting and financial industries, CPAs are required to complete continuing education in almost all the states. Failure to do so can result in the CPA license not being renewed. The number of hours required varies from state to state, and this information can also be found on the AICPA website. For instance, Florida requires 80 hours while Alabama requires 40 hours.

Career Outlook for a CPA

CPAs can expect to see job growth of 10 percent during the decade of 2016-2026, according to the BLS. They also make good wages. PayScale reports that CPA wages range from $45,335 to $102,720 or more with the average annual wage at $62,410. U.S. News & World Report ranks accountants #7 among the best business jobs, #8 among the best STEM jobs and #36 among the 100 best jobs.

Becoming a CPA involves quite a bit of training, passing exams, and continual education, but it’s a rewarding career that offers good pay. For the individual who enjoys working with numbers, it can be the perfect career.