The CPA exam is a rigorous test of your knowledge and skills. It requires many hours of study and preparation, but the payoff is well worth it. Passing the exam is a major achievement that opens doors to many new career opportunities.
How long it takes to complete the CPA exam largely depends on your own schedule and motivation. Some candidates finish all four sections in a year or less, while others take multiple years to complete the entire process.
The time you need can also vary greatly depending on your test taking strategy and how much time you are able to spend studying each week. By understanding what you’re getting into, you can make a plan for how to approach each section of the exam.
If so, you’re undoubtedly aware that earning your CPA license is a vital step toward landing that high-paying job.
Well, it depends on your state’s requirements and how quickly you can complete each section of the exam.
In this article, we’ll cover everything you need to know about the timeline for completing the CPA Exam and becoming a licensed accountant.
If you are interested in becoming a Certified Public Accountant, you will have to pass the Uniform CPA Examination (CPA Exam), a test that has been around since the early part of the 20th century. This exam ensures that anyone who becomes a CPA meets certain standards and is capable of practicing accounting in the United States.
While the first step in becoming a CPA is passing the four-part exam, there are other requirements one must meet as well. Each state has its own rules and regulations regarding CPA licensure. In order to be eligible to sit for the exam, candidates must fulfill both their state’s education and experience requirements.
Most states have similar eligibility requirements for sitting for the CPA Exam.
The first step in becoming a CPA is determining if you’re eligible to sit for the exam. Each state Board of Accountancy sets its own requirements for CPA candidates, but most states require that you have at least 150 academic credits and 2 year of accounting experience, as well as other professional experience or college coursework.
To check the requirements in your state, visit the National Association of State Boards of Accountancy (NASBA) website and click on the link to your state board.
Once you’ve determined that you meet the eligibility requirements, decide which sections you want to take first and what type of study materials will work best for you. You can choose from live classes, online courses or self-study materials. Major number of candidates choose to study with the help of a coaching institute as it saves the time for understanding concepts on their own.
The CPA Exam is composed of four, four-hour sections:
Designed to test your knowledge and skills in auditing procedures, generally accepted auditing standards and other standards related to attest engagements, as well as your understanding of concepts and professional responsibilities in relation to attestation engagements.
Tests your knowledge and skills in accounting for business combinations and consolidations; the equity method; partnerships; corporations; nongovernmental entities; local government entities; state and local government pension plans; governmental accounting research tools; fiduciary accounting; investment companies; not-for-profit organizations, employee benefit plans and international financial reporting standards.
Designed to test your knowledge of ethics, professional responsibilities, federal taxation, federal tax laws governing property transactions, estates, trusts, gifts and income taxation of individuals.
The Business Environment Concepts (BEC) section of the Certified Public Accountant (CPA) exam covers many important business topics, such as corporate governance, ethics and business law. The BEC is one of four sections that make up the Uniform CPA Examination. All four sections must be passed in order to obtain a license to practice public accounting.
The BEC covers many topics related to Business and Accounting. As such, you’ll need to have knowledge of a wide range of concepts in order to pass this portion of the CPA exam.
Each exam section consists of multiple-choice questions (MCQs) and task-based simulations (TBS). The number of MCQs and TBS vary by section.
The CPA Exam is a computer-based exam administered at Prometric test centers.
For a more detailed description of the test structure, including the time allowed for each section of the exam as well as the number of questions you can expect from each testlet, please refer to the blueprints provided by the AICPA.
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