There's no secret that you had a hard time deciding out what CPA exam study materials worked best for you while preparing for the US CPA exam. You might sometimes go from not studying hard enough to locking yourself away like a crazy person poring over multiple-choice questions (MCQs). Though, it won't be continuous if you get yourself prepared and make the best study plan to pass the CPA exam in one go.
If you’re currently a US CPA aspirant looking to become identified by the AICPA (American Institute of Certified Public Accountants) as a Certified Public Accountant then you must be in the same boat. So here are a few things you should learn during your exam review that will make your life a lot easier and help you get your US CPA license. Below are a few steps to take if you are ready to be a US CPA in 2021.
There are some specific requirements to become a US CPA that differ across state groups, candidates typically require at least 150 total credits, which signifies you should have a bachelor’s degree in accountancy with extra hours, or else you can also obtain a master’s degree to complete that 150 credits.
If you live in a country where US CPA aspirants need 120 credits, you need only a bachelor’s degree and you're eligible to take the exams.
It is totally fine if you don’t have a bachelor's degree in finance or accounting, but make sure you must at least minor in accounting or have at least 24 credits in accounting/finance or a related focus. In some states groups, you can also qualify for a CPA degree if you don't have an accounting degree with adequate experience in the field. Moreover, some US CPA aspirants need quality experience working with a US CPA.
Did you freshly shift to a new state? If yes, you would definitely require to wait till you pass the six-month mark window in your current state before applying for US CPA exam eligibility in that particular state. Make sure to review your state’s current requirements to know for sure. On a similar note, you may live in a state where US CPA aspirants must have U.S. citizenship. If yes, you must provide the current state's licensing board and the AICPA (American Institute of Certified Public Accountants) your Social Security Number.
The US CPA exam contains four exam sections including:
The US CPA Exam consists of simulations (SIM), multiple-choice questions (MCQs), and written communication questions. Despite the fact, you don’t have to pass all sections of the US CPA exam at once. Some states require aspirants to pass the entire CPA exam within 18 months of passing their first section of the US CPA exam. To pass each section of the exam, you must obtain a score of 75 marks or higher on each section of the CPA Exam.
Please note that even after you have passed all four sections of the US CPA exam and earn your license, make sure to complete your education requirements to further maintain your licensure. Normally, US CPAs should achieve 40 hours of proceeding education every year. Types of continuing education incorporate classroom learning (virtual learning), computer-based learning, group learning, etc. Whichever option you are well suited with, but make sure that you must complete maintaining your CPA license depends on your geographic region. Apart from maintaining the license, standard continuing education hours, you might also require complete CPA compliance and values education. Make sure to verify it with your state board of Accountancy for the specific US CPA requirements needed in your state.
After becoming US CPA, you can prefer working with a special industry designation or certification such as certified IT professional, accredited in business valuation, certified financial forensics, personal financial certified, etc. For each expertise area, you require to continue relevant experience and education.
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