As the CPA is one of the world’s highest accounting credentials, it is not a choice for all. But if you are an accounting graduate or working professional with a dream of pursuing a CPA, here’s what you need to know. Understanding CPA requirements is a key priority before you choose to become one. CPA eligibility criteria are an important step toward becoming a differentiated CPA in the professional world. Without taxing more time, let’s get started with the fundamental eligibility requirements to be a CPA.
Educational Background
Since the CPA course is more into accounting, audit, and tax, a foundational undergraduate degree in finance, accounting, law, or business would be an ideal place to start. The foundational degree helps you understand concepts in the CPA syllabus without much strain. The degree combined with the CPA credential can give you a powerful boost while starting your career as degrees and certifications are more valued in the commerce and business world. Bcom, BBA, or BBM would have given your capabilities, but to demonstrate it in a more competitive environment, you need a practical certification which a CPA can do well.
Get your Basics Right!
CPA is one of the upending and niche accounting certifications in the accounting world. To say further, it takes a ton of effort to crack and since the CPA course covers over 18 months, you need things at your fingertips. To achieve proficiency in the CPA syllabus, an ideal option is to take an intensive course in accounting basics that provides you exposure to accounting, auditing, taxation, regulations & legal compliance, risk, and management principles. This course excludes your regular 150 or 120 credit hours required to enroll for a CPA course.
CPA License
A CPA license is key as it promises you not only career opportunities but also validity and authority in the accounting domain. As soon as you complete your certification, apply for your licenses. The educational requirements differ from state to state in case you are planning to work in the US. This is not just for CPA but also for other global credentials like CFA too. After obtaining your license, ensure that you renew your CPA license every year according to the state rules and policies.
Before Sitting for CPA Exam
For academic evaluation, the US CPA exam board follows a credit-based system. The credits give you access either to sit for the CPA exam or earn a license. Based on the Indian academic system, you need to fulfill a certain number of credit hours to earn the CPA eligibility criteria: For US CPA Exam – Graduation +1 year of Postgraduation (120 credits), License – Graduation +1 year of Postgraduation (150 credits), and in addition to these academic qualifications, you also need to earn 2000 hours of work experience.
Career Opportunities
As a US CPA, opportunities are endless. Some work in full-time positions and others may choose relaxed environments. There are certain people who are active only during tax season. There are also CPA Reviews and CPA course providers who enable work while study options where you can fetch an internship at Big 4 and public accounting firms or MNCs at rewarding salaries. The average median salary for a US CPA at Big 4 and MNCs is 11 LPA and above.
