Earning the certified public accountant (CPA) designation is the most pivotal growth step you can take in becoming a versatile accounting professional. Higher income potential, professional prestige, and opportunities for entrepreneurship and partnerships are just some of the benefits. At the School of Accountancy at Cal State Fullerton’s College of Business and Economics, we have one of the best M.S. in Accountancy Programs in the United States, designed to prepare students for this designation. The program is the only of its kind in Orange County accredited by the Association to Advance Collegiate Schools of Business (AACSB). Here are some of the steps, from the initial requirements in your college days to the ongoing professional involvement required of CPAs. It’s a long journey. But so well worth the effort.
- Meet the Educational Requirements
The education needed to become a CPA is fulfilled by completing a bachelor’s degree from an accredited institution and 150 credit hours per California regulations, including 24 units each in accounting and other business-related topics, 20 units in accounting study, and 10 units in ethics studies. In other states, the CPA licensure credit hours requirements vary between 120 and 150 units.
At the CSUF School of Accountancy, we have numerous courses designed specifically to make our students CPA-ready. These courses count toward the credit hours and have the CPA exam specifically in mind. Courses such as ACCT 301A and B – Intermediate Accounting, ACCT 302 – Cost Accounting, ACCT 307 – Accounting Information Systems, and ACCT 308 – Concepts of Federal Income Tax Accounting are some of our required courses that will help you prepare. Numerous electives covering the AI-focused future of accounting, taxation, auditing and more are great preparations to round out your knowledge.
- Prep for the Exam
Once you’ve completed the required coursework and degree, your next step is to apply through the California Board of Accountancy. You will need to establish a client account, complete the application, print and sign the remittance form, and mail this form along with transcripts. An application fee, which is lower for repeat exams, and a cost per section are among the fees. There is an additional license application fee once you pass. Additionally, non-California residents need to be fingerprinted for a nominal fee. For more on California fees, visit the website of Cal CPA.
In other states, the process to register may vary, but you will generally have to apply to the state board in your jurisdiction, and then schedule your exam through Prometric, the company that oversees this test in the U.S.
The CPA exam is not a sprint, it’s a marathon. So you’ll want to be ready. In the days and hours before, prep by eating brain food such as Omega-3 fatty acid-rich fish or seeds; antioxidant-rich berries or veggies; and B-vitamin-heavy eggs, whole greens or beans. Set aside a certain window of time each day to study. Utilize online resources for example tests and reach out to your professors and fellow alumni for tips.
- Take the Test
The CPA exam is four hours long, consisting of four sections, totaling 16 hours of testing time. The core sections involve auditing and attestation, financial accounting and reporting, and regulation. To specialize, test takers can choose any one of the discipline sections, such as business analysis and reporting or information systems and controls. And since it isn’t an open-book exam, you’ll need to have strong knowledge. There are both multiple-choice and task-based simulations. The most common pitfall would be having strong knowledge in one aspect of accounting but not others. That is why you’ll need to totally immerse yourself in this field to be successful.
The good news is you don’t need to pass the CPA exam all in one day. Test-takers have 18 months and it is generally considered a reasonable timeframe to take sections of the exam about six to seven weeks apart. The exam is scored on a scale from 0 to 99, with a minimum passing score of 75.
Ethics are an essential aspect of the accounting field. In California, this is emphasized in the test itself. But in other states, there is a separate ethics exam. So check the requirements if you’re taking this test elsewhere in the U.S. And regardless of the exam you have to take, familiarize yourself with the ethics needed to become an upstanding professional.
Finally, you’ll need to apply for the license. At that point, you are ready to practice CPA accounting at the professional level.
- Staying Relevant
The CPA exam may be a milestone accomplishment, but it is only the beginning. In California, CPAs must complete 80 hours of continuing professional education every two years to retain their license. Many courses are available through the CalCPA Education Foundation. And a number of events at Cal State Fullerton, such as our annual SEC “Hot Topics” Conference, provide continuing education credits, while also providing opportunities for networking and reconnecting with your professors at the same time. For more on continuing education requirements in other states, please see the FurtherEd CPE Requirements page.
- Find a Good Career Job
With median salaries of around $80,000 according to the U.S. Bureau of Labor Statistics, accounting majors have many opportunities for career advancement and growth. For Cal State Fullerton grads, Business Career Services and the School of Accountancy are both strong allies in helping alumni land internships, entry-level jobs and workforce advancement. Connect with our career advisors, your former professors, and members of our massive alumni base to find and obtain opportunities.
The CPA is a life-changing experience, and no institution better prepares students for this crucial step than Cal State Fullerton. I invite you to learn more about our accounting programs at the website of the School of Accountancy. Or read more of our articles on accounting education and research.
