A Certified Public Accountant (CPA) in the US must pass an exam and meet state-specific criteria, including education and experience. A CPA can supervise other accountants and perform tasks such as financial auditing. International candidates can take the International Qualifying Examination to earn a CPA qualification.
Certified Public Accountant (CPA), is the term used in the United States for a person who has proven to be qualified to handle various types of accounting tasks. The criteria for earning the CPA qualification vary by state and may include parameters such as age, training, and residency. In all US cases, the accountant must pass an exam to receive their CPA qualification, although the exam itself is typically state-specific. Other countries have similar designations with associated requirements, but the nomenclature is different.
One of the most essential components to earning a CPA qualification is education. Each state’s State Board of Accountancy specifies how many hours of specific accounting classes each candidate must take before they can take the CPA qualifying test. In most states, 150 hours of accounting education are required, usually as part of a full college program leading to a bachelor’s degree in business administration. An additional year of specialized study is also required once a four-year degree is obtained to complete educational requirements and prepare the student to become a CPA.
Once a person passes and passes the CPA exam, he or she is typically certified as a certified public accountant. This means that the person can do more than just handle basic accounting tasks. A CPA qualification allows a person to supervise the work of other accountants. Common tasks for a CPA include financial auditing and verifying that a company or individual is applying generally accepted accounting principles, commonly referred to as GAAP, to its finances.
Each state determines when a person who has received a CPA qualification can become a licensed CPA. While most states consider a person to be a certified public accountant after educational requirements are met and the exam is passed, as a general rule, the new CPA must also gain some hands-on experience before they can be licensed. This is done by working with a licensed CPA until the required amount of experience is gained.
A qualified accountant from another country can earn a CPA qualification by taking and passing a different test. This test is called the International Qualifying Examination. When and where this exam is offered varies by state, but each state’s State Board of Accountancy usually has testing information available for those who are interested.
Protect your devices with Threat Protection by NordVPN
