Some consider becoming a certified public accountant (CPA) the holy grail of accounting. This accounting achievement is more than attainable, but the road can be challenging. Intuit is here to help with this guide on how to become a CPA.
A CPA is a licensed accounting professional with expertise in tax, accounting, auditing, and business strategy. They help both businesses and individuals reach their financial goals. A CPA’s duties might include filing corporate tax returns, business consulting, tax planning, and financial advising. Any accountant who files reports with the Securities and Exchange Commission (SEC) must be a licensed CPA.
In this guide, we’ll explore what CPAs do in more detail. We’ll also cover the step-by-step process of how to become a licensed CPA and how you can break into the industry.
Let’s get started!
Steps to become a CPA
The journey to becoming a CPA takes serious effort and dedication. A little different than becoming an enrolled agent (EA), it requires demonstrating you can take on the responsibility for the financial health of an entire organization.
A certain level of education, work experience, and a licensing exam are required—all of it more than achievable. One of the most important steps is fulfilling state requirements for licensure, which varies from state to state. So be sure to research what’s required in your area.
Ready to find out what it takes to become a CPA? Here is your roadmap:
Step 1: Earn your bachelor’s degree
First, you need a bachelor’s degree in a related field, although a few states allow certain levels of practical experience as a substitute for a degree. It doesn’t have to be an accounting degree, although that would be a wise option if you’re sure this is the career path you want to take. To be licensed, all states require at least 150 credit hours in a related area of study, such as:
- Finance
- Accounting
- Mathematics
- Business Administration
- Business Law
- Business Ethics
- Auditing
- Statistics
Some aspiring CPAs go beyond their bachelor’s degree and get a master’s. While a bachelor’s degree is the minimum requirement to become a CPA, most bachelor’s programs (typically 120 credits) don’t fulfill the 150-credit hour requirement for CPA licensure. You can meet that criteria another way, such as by pursuing a double major. But many candidates go the grad school route since it can broaden their knowledge and help with career advancement.
Step 2: Gain relevant work experience
Next, you need relevant experience working under a current CPA. This can be in the form of an internship or a full-time job. Depending on the state, you may need one or two years of experience—typically in public accounting.
Not only is this a requirement to become a CPA, but it’s also a great place to gain valuable knowledge and experience. You’ll see the day-to-day life of the CPA and the essential tools and protocols they use to get their job done.
But where do you go to gain work experience before becoming a CPA? The most traditional way would be to get an entry-level or part-time finance job after obtaining or while working on your accounting degree.
These types of roles provide invaluable experience toward your CPA certification—and your accounting career in general. You can find these opportunities at larger private or public accounting firms, nonprofits, and government agencies.
Your work experience should be in a role that familiarizes you with:
- Management accounting
- Business valuation
- Forensic accounting
- Treasury management
- Financial analysis
Starting with one of these positions and receiving your CPA license could significantly boost your career trajectory. If you’ve already shown your hard work and competency, having your CPA may be a good way to elevate your role.
Step 3: Pass the CPA exam
The next step is taking your Uniform CPA exam. This is a four-part assessment that will test your skills as an accountant. Some people take the exam immediately upon graduating college, but just be sure to complete the 150-credit hour requirement for your education before applying to take the exam.
The CPA exam has four sections, consisting of multiple choice and task-based simulation questions. The three core sections are Auditing and Attestation, Financial Accounting and Reporting, and Regulation. Candidates must take a fourth discipline section of their choice. Options include:
- Business Analysis and Reporting
- Information Systems and Controls
- Tax Compliance and Planning
Step 4: Apply for your CPA license and any other certifications
Once you successfully pass the exam, it’s time to apply for your CPA license. The application and its processing will incur a few fees. Here’s how the costs might break down, using California as an example:
- CPA license application fee: $250
- License fee: $340
- License renewal: $340 (every two years)
- Fingerprinting: $49
*Note: Research the exact fees and costs in your state to get a more precise idea of what you’ll pay.
Looking for a job as a CPA?
So, what’s next? Now that you know how to become a CPA, you’re free to step out into the job market. Achieving your CPA is no small feat and, as such, will afford you a lot of opportunities in a wide range of industries and organizations.
The Intuit team is always looking for driven, talented individuals. Check out one of our remote tax preparation jobs to learn more.
If you’re interested in joining a team leveraging the latest in fintech to wow their customers and help millions power their prosperity, consider applying. Intuit is consistently rated as one of the best places to work. We offer first-class training and equipment to our employees, and we’re focused on helping you do the best work of your life.
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