Certified Public Accountant (CPA) is awarded by American Institute of Certified Public Accountant and it is the highest qualification in accounting in the Unites States. CPA courses empower students to work in financial companies, education, consultancy, construction, manufacturing, banking, etc. CPAs must be able to provide their services in areas such as assurance and attest services, venture capital, financial analysis, financial planning, corporate finance, information technology, income tax, corporate governance, estate planning, tax preparation and planning, forensic accounting (detecting, prevention and investigating frauds), etc. There are clear demarcations between the education, examinations and work of CPAs and accountants. Even if you are planning to do public practice, you need to enroll in Continuing Professional Educational (CPE) courses. The schools and universities, which offer such courses, adhere to professional ethics strictly in order to maintain the quality and recognition of the course.
You can work as a certified public accountant if you have a bachelor’s degree in accounting. You can appear for a Uniform CPA examination for getting certification. You also need to complete at least 150 academic hours for appearing the examination.
Bachelor of Science in Accounting
This is the entry level course for becoming a CPA. There are lots of CPA schools and colleges, which offer accredited bachelor’s degree programs. Such CPA courses are combined with master’s degree in accounting so that students can become CPAs. Through Bachelor’s degree programs, CPA schools and colleges aim to teach financial processes, financial management, business operations, tax and legal concepts to the students. This CPA course also empowers students to attend CPA examinations for obtaining a certification.
Educational Qualifications
You can enroll in Bachelor’s degree programs for getting CPA certification if you have a high school diploma. CPA courses for Bachelor’s degree include basic finance, law, and general business, intermediate and advanced accounting. After the completion of this course, you will be able to prepare financial reports, provide advice to financial institutions, individuals and organisations, and have a thorough knowledge in basic financial processes. Most of the CPA courses offer training in communication. Other CPA courses include
- Tax preparation
- Cost management
- Accounting research
- Bookkeeping processes
- Auditing and financial analysis
- Financial management,
- Insurance
- Investing, etc.
Certification
Students can apply for CPA certification after the successful completion of Bachelor’s degree in accounting. The requirements of CPA certification vary depending on state rules. However, many states insist that the candidates have a minimum 150 academic credits. But, Bachelor’s degree in accounting demands only 120 credits. Therefore, master’s degree in accounting is inevitable for meeting the state requirements for certification.
Master of Science in Accounting
The duration of most Master’s degree in accounting courses is two years. During this course, students get practical experience and academic credits required for CPA course certification. After the completion of this course, students can appear for state regulated CPA examinations for getting certification.
If you want to enroll in CPA courses for getting master’s degree, you must have a bachelor’s degree from an accredited university. You must also have a high score in GMAT or GRE examinations.
Coursework
Master’s degree in accounting offers advanced courses in financial analysis, accounting and business operations. It also enables students to analyse complex finaincial records, business entities and documents through advanced strategies in accounting. Master’s degree program is based on case studies and research. Typical CPA courses for Master’s degree program include:
- Advanced managerial accounting
- Principles of risk management
- Auditing and assurance services
- Financial accounting research and theory
- Information systems in accounting.
In order to become a certified public accountant, you must pass a four-part examination administered by American Institute of Certified Public Accountants (AICPA). It is very difficult to pass all the four parts at once. In such cases, you can complete all of them within 18 months. According to the US Bureau of Labor Statistics, this examination is highly technical and percentage of students who pass this examination is below 50. After getting CPA certification, you have to participate in continuing education programs in accounting and finance. It is inevitable for renewing and upholding your certification.
An experienced and certified CPA can earn around $72,132 per years (As per Payscale.com). Professionals who prepare tax preparations and bookkeeping services can earn the highest salaries.
