Discover what a CPA is, what they do, and how to become a certified public accountant. To become a CPA, you’ll need a bachelor’s degree in accounting, which typically encompasses 120 hours of semester coursework. According to AICPA, the pre-licensure education required for a CPA is 150 semester hours of coursework.
- Check out the list below to explore some popular career paths for public accounting degree graduates.
- The Uniform CPA Exam consists of three core sections and three corresponding discipline sections.
- Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader.
- The difference between these certifications is primarily the legal status and the types of services provided, although individuals may earn more than one certification.
- Many prepare tax returns for individuals or businesses and advise them on ways to minimize taxes.
Charged with managing financial information and documents for corporations and individual taxpayers, CPAs receive training to properly analyze and prepare financial records, including tax returns and filings with the Securities and Exchange Commission (SEC). A general accounting education allows you to broaden your skills across the industry, opening up more job opportunities. If you’re interested in pursuing a finance job but unsure of your ideal role, a general accounting degree can help you identify areas https://www.bookstime.com/articles/present-value-of-an-annuity-table you find most appealing. These classes differ from typical accounting degree coursework by covering specific public accounting skills like conducting financial investigations and filing public accounting reports. Public accounting can be viewed as firms of accountants that serve clients such as businesses (retailers, manufacturers, service companies, etc.), individuals, nonprofit organizations, and governmental organizations. CPAs compile, maintain, and review financial statements and related transactions.
Public Accounting: Careers, Skills, and How to Become a CPA
Explore the list below to learn about courses common to public accounting programs. Earning a general accounting degree helps you pursue employment in different finance sectors. Understanding basic accounting principles gives you a comprehensive look into the overall scope of a business as required by various finance roles. The CPA designation is granted by individual state boards, not the American Institute of Certified Public Accountants (AICPA).
Obtaining the CPA designation requires a bachelor’s degree, typically with a major in business administration, finance, or accounting. Other majors are acceptable if the applicant meets minimum requirements for accounting courses. CPA is a license awarded by the state you want to work in, which allows you to practice as an advanced accountant. Once you’ve passed them and met the work experience requirement, you’re eligible to apply for a CPA license with your state board of accountancy.
What Is a Certified Public Accountant (CPA)?
Check out these materials and consider attending one of our free events to learn more about taxes, credit, debt, budgeting, the basics of investing and learning activities for children. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site. The CPA designation became more important after the Sarbanes-Oxley (SOX) Act of 2002, which was passed partly in response to corporate financial scandals like the Enron affair. When you become a CPA, you can be responsible for preparing financial statements for your clients and filing reports with the SEC.
Each state sets its specific requirements for your eligibility to take the Uniform CPA Exam. Many states require you to hold a bachelor’s degree, and most require or will require 150 hours of post-high school education. Some states require CPA candidates to be at least 18 to 21 years old, and a few require that you’re a citizen or permanent resident. As an aspiring CPA, you might want public accounting to consider an online accounting degree program, which offers convenience and flexibility, especially when working full time while going to school. You might like to consider the Online Master’s of Accounting (iMSA), offered by the University of Illinois Urbana-Champaign. You can also pursue management consulting, information technology, education, and financial planning careers.
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