Introduction
The Certified Public Accountant (CPA) credential is one of the most respected qualifications in the accounting profession, offering significant value in the job market. CPAs are highly sought after for their expertise, and earning this credential can open doors to a wide range of career opportunities. However, becoming a CPA requires a substantial investment of time and effort. On average, it takes about 7 years to meet all the requirements and become a licensed CPA.
Breaking Down the Timeline
Becoming a CPA involves meeting specific eligibility requirements, completing educational milestones, gaining relevant work experience, passing the CPA exam, and obtaining state licensure. Here’s a breakdown of the timeline:
What is CPA Eligibility?
CPA eligibility refers to the criteria that candidates must meet to sit for the CPA exam and eventually become licensed. These requirements vary by state but generally include a combination of education, work experience, and passing the CPA exam.
Education (4-6 Years)
The first step towards becoming a CPA is earning a bachelor’s degree. Most states require a minimum of 120 credit hours, which is typically achieved with a four-year degree. However, since CPA licensure often requires 150 credit hours, many students need additional coursework, which can extend their education by 1-2 years.
For those without a traditional accounting degree, there are alternative paths, such as pursuing a master’s degree in accounting or completing additional coursework through a post-baccalaureate program.
Work Experience (1-2 Years)
In addition to educational requirements, candidates must gain relevant work experience under the supervision of a licensed CPA. This experience typically ranges from 1 to 2 years, depending on the state’s requirements. Some states may have specific conditions, such as the number of hours worked per year or the type of accounting tasks performed.
CPA Exam (1-2 Years)
The CPA exam is divided into four sections:
- Auditing and Attestation (AUD)
- Business Environment and Concepts (BEC)
- Financial Accounting and Reporting (FAR)
- Regulation (REG)
Candidates have a testing window of 18 months to pass all four sections once they pass their first section. Given the exam’s difficulty, many candidates require multiple attempts, which can extend this part of the process to 1-2 years.
State Licensing (Variable)
After passing the CPA exam, candidates must complete the state licensing process, which can vary significantly depending on the state. Some states have additional requirements, such as ethics exams or continuing education, that must be fulfilled before licensure is granted. The time required for this step can be variable, ranging from a few months to a year.
Click here for quick links to CPA exam requirements by state
Factors Affecting the Timeline
Several factors can influence how long it takes to become a CPA:
- Schooling pace: Full-time vs. part-time study can impact how quickly you complete your education.
- Work experience opportunities: Securing relevant experience during or after school can affect the overall timeline.
- Performance on the CPA exam: The need for retakes can extend the exam process.
- State licensing procedures: Some states have more complex or lengthy licensing processes.
Tips for Shortening the Timeline
To potentially shorten the time it takes to become a CPA, consider the following strategies:
- Pursue a degree in accounting to minimize additional coursework.
- Gain relevant work experience while attending school, such as through internships or part-time jobs.
- Choose a comprehensive CPA review course to optimize your exam preparation.
- Develop effective study habits and time management skills to increase your chances of passing the CPA exam on the first try. Use these tips to assist in forming these skills.
Conclusion
While becoming a CPA requires a significant time commitment, the rewards are well worth the effort. The CPA credential not only enhances your professional standing but also opens up a world of opportunities in the accounting field. With careful planning and the right resources, you can achieve your CPA goals efficiently.
We encourage you to explore the wealth of resources available on CPAexam.com to support you on your journey to becoming a CPA. Start planning today to take control of your future in the accounting profession.