The CPA designation is specific to the country in which the exam is taken, though it is a well-known program that is offered in many countries around the world. International equivalency exams are also offered so that CPAs can work in countries other than the one in which they were certified. Multiple-choice questions count for 50% of the total score and tasked-based simulations count for the other 50%. Check the official Uniform CPA Examination website for news, frequently asked questions, the exam content, and exam sample tests/tutorials.
Remember that your preparation can help you pass each section the first time and avoid re-take fees. Of course, you have to pass law firm bookkeeping all four sections of the CPA exam first. Additionally, you have to be prepared to pay several thousand dollars in fees and costs.
CPA Exam Costs
Some states may bundle the cost of registration fees for candidates. This means you will have to schedule all four exams within that period or risk having to pay your registration fees again. Although the CPA Exam cost may seem high, it is important to schedule your exams based on your preparedness and NTS, not to save on CPA Exam costs. Once you have passed the CPA Exam and taken the ethics exam (if required!), it is time to apply for certification.
Once you meet the license requirements you will be issued a license number and you are entitled to practice in New York State as of the effective date of licensure. The first step you need to perform is to check the CPA exam and licensure requirements in Florida. In a nutshell, if you have 120+ semester hours from an accredited institution that fulfills the above CPA academic criteria, you are eligible to sit for the CPA exam in Florida. While most states require ethics exam before licensing, Florida candidates can become a CPA without it as there are no Florida CPA ethics exam requirements.
After the Exam
If you are unable to sit for the CPA Exam on the appointment date you scheduled, you may need to pay Prometric an additional fee to reschedule the CPA Exam. There’s no fee if you contact Prometric to reschedule 30 or more days in advance. With 6-29 days’ notice, the fee to reschedule is $35, and with 5 or fewer days’ notice, that fee increases to $83.76. As long as your rescheduled date is still within the period that your Notice to Schedule (NTS) is valid for, you will not need to repay the application and examination fees. After you have successfully completed all four sections of the CPA exam and you have completed the AICPA ethics exam, you will need to pay your CPA licensing fees to your state board. Even before you pay any actual CPA exam fees, you should purchase a CPA review course.
Scores are released on a rolling basis, dependent on when the AICPA receives your exam file. Schedules change annually, and the AICPA updates its score release timetable accordingly. States generally allow candidates to sit for each section individually and in any order.
Financial Accounting and Reporting (FAR)
Becoming a CPA typically requires 150 college credits and approximately 2,000 hours of accounting experience working with a licensed CPA professional. Also, candidates testing at international locations may have higher examination fees, depending on the jurisdiction. You must pay an initial application fee to your state board. To give you a sense of how much this fee will cost, I’ll discuss some examples.
As with so many good things in life, the CPA certification is not free. Even after you earn your degree, you’ll have to meet a few other CPA requirements that will cost you money, such as passing the CPA Exam. And unless you’re one of the fortunate few whose firm covers some or all of your CPA Exam costs, you’ll have to pay a handful of CPA Exam fees that will add up to 4 figures before you can say “certified”.
These hours are due based on an annual or biennial basis as determined by your state board. Gleim CPE courses are available for as low as $6 per hour, depending on the package you buy. After you pass your first section of the CPA Exam, you will have 18 months to pass the remaining three sections. If you don’t pass them all within that time period, you will lose credit for any you have passed and will have to retake them. Also, if your CPA Exam journey extends beyond 18 months for any reason, you may have to pay to extend access to your CPA review course.