Certified Public Accountant (CPA) Accountants

Certified Public Accountant (CPA)

Accountants have different designations based on their areas of expertise. The most widely recognized credential is the certified public accountant (CPA), the only individual permitted to sign an audit opinion that attests to the fairness of financial information. Two lesser known credentials that have wide acceptance are the certified management accountant (CMA) and the certified internal auditor the (CIA). Each of these professional designations assess the candidates' skills and abilities in areas important to an organization. The CMA designation puts more stress on management areas and internal decision-making abilities than the CPA designation. The CIA designation focuses on the understanding and skills required to analyze, evaluate and improve the organization's internal management processes. It is necessary to take an examination for these designations.

The CPA exam requirements vary from one jurisdiction to another. The requirements of a particular jurisdiction can be found on the Board of Accountancy website (NASBA) for example, in Ohio the criteria is a BA degree with 150 semester hours of college credit or a BA associates degree and a score of 1200 on the verbal and quantitative sections of the Graduate Record Examination General Test; 30 semester hours in accounting (or 24 semester hours in accounting, excluding principles) with coverage in auditing, financial accounting, management accounting, professional ethics, and taxation; 24 semester hours in business courses other than accounting courses. Economics and information systems count as business subjects. In Florida, the requirements are: A BA from an accredited institution, not necessarily tin accounting;

30 semester hours of coursework from an accredited institution, beyond what was required for the BA -- if it required 120 semester hours, then the total hour requirement is 150 semester hours; There is no requirement that the 30 additional semester hours be taken at the master's level. In addition, there is no requirement, per se, for a master's degree; Within the total hour requirement, 36 semester hours of accounting and/or tax courses above the principles level and 39 semester hours of general business courses, including six semester hours in business law (Uniform CPA Exam).

The Uniform CPA Examination consists of four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR) and Regulation (REG). The exam is offered up to six days a week during January, February, April, May, July, August, October and November each year.. After the state board determines a candidate is eligible to sit for specific sections of the CPA Examination, the candidate will receive a Notice to Schedule (NTS). The candidate can then register directly with a Prometric testing center to take one or more sections. The CPA exam is a closed book, secured examination. Candidates are required to sign a statement that they will not disclose the contents of the examination. Reciprocity is the granting of a CPA license by one state based on your CPA license from another state. Because they use the Uniform CPA Examination, most states recognize the validity of licenses from other states. Requirements for experience and education vary, but states generally allow people to claim credit for successful completion of the examination in another state (Uniform CPA exam).