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What is a CPA?
1.
What is the difference between a CPA and other accountants?
2.
What are the educational requirements?
3.
What is the CPA exam?
4. So, can you summarize
the requirements to become a CPA?
5.
What do CPAs do when they are working?
6.
I am interested in becoming a CPA. Where can I get more information
about the profession?
If you have
any other questions, please contact
us.
1. What is the difference between a CPA and other accountants?
A CPA is licensed by the state.
To become a CPA an individual must demonstrate knowledge and competence
by passing a rigorous examination, must meet high educational standards,
and must have a specified amount of experience working in the profession.
While the requirements vary between states, it is difficult everywhere
to achieve a CPA license. But, the story does not end there. In
order to continue to be licensed, a CPA must meet stringent continuing
education requirements, undergo periodic
peer review if attest services are provided, and
achieve and demonstrate a high level of accountability in their
honesty and professionalism.
To get, and keep, a CPA license
requires a high level of knowledge, dedication, and continuing education.
As a user of CPA services you should expect to benefit from this.
CPAs are integral to the audit
process that provides an independent analysis of the financial records
of a company. They are also authorized to represent taxpayers in
an IRS audit.
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2.
What are the educational requirements?
In Texas, a candidate must meet
the following educational requirements in order to apply to take
the CPA exam.
-
baccalaureate or graduate degree conferred by an accredited institution
of higher education recognized by the Texas State Board of Public
Accountancy (the Board);
-
completion of courses recognized by the board reflecting not fewer
than 150 semester hours;
-
successful completion of at least 30 semester hours of
accounting coursework beyond the first two semesters of
elementary accounting, with a minimum of 2 semester credit
hours in research and analysis relevant to tax or accounting
research;
-
successful completion of at least 24 semester hours of related
business courses as defined by Board rule, with a minimum of 2
semester credit hours in accounting or business
communications;
-
successful completion of a 3-semester-hour ethics course that
has been approved by the Board.
There are also continuing education
requirements that state that a CPA must take 40 hours of approved
coursework per year after they are licensed.
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3. What
is the CPA exam?
The Uniform CPA Examination
tests the competence of an individual to perform the duties of a
professional accountant. The exam covers the candidate's knowledge
of accounting practice, auditing standards, accounting theory and
business law. The examination is prepared by the Board of Examiners
of the American Institute of CPAs (the AICPA, the national professional
society of CPAs) with the cooperation of the National Association
of State Boards of Accountancy (members of the state licensing boards
for accountants) and the American Accounting Association (the national
organization of university accounting professors).
The CPA exam takes two and one-half
days and is given by the state boards under controlled conditions.
It is graded by the AICPA, although the ultimate licensing decision
is retained by each state board.
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4. So, can you summarize the requirements
to be a CPA?
Yes, the requirements are as
follows.
-
successfully complete the Uniform CPA Examination;
-
file an application for issuance of the CPA certificate;
-
provide confirmation of good moral character as demonstrated by
a lack of history of dishonest of felonious acts;
-
meet the education requirements;
-
meet the work experience requirements: less than 150 hours of
college credit requires two years work experience under the supervision
of a CPA, 150 hours or more of college credit requires one year
experience under the supervision of a CPA;
-
pass an examination on the Rules of Professional Conduct as determined
by Board rule;
-
take an oath of office to support the laws and Constitution of
the United States and this state and rules adopted by the Board;
-
pay a fee for certification and a separate fee for licensing
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5.
What do CPAs do when they are working?
CPAs perform almost every conceivable
financial and management advisory service for business and individuals.
CPAs do general accounting, tax planning and advice, tax return
preparation, estate planning, personal financial planning and representation
of clients before government agencies. CPAs also are key to
audits whereby an independent opinion is expressed as to the fairness
of financial statements. CPAs also help clients choose and
implement accounting systems.
They help in the development and analysis of financial models,
cost controls, profit plans, and internal reports.
CPAs are often consulted
on business, civic and other problems on which their judgment, experience
and professional standards permit them to provide helpful advice
and assistance.
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6. I
am interested in becoming a CPA. Where can I get more information
about the profession?
The AICPA has some information
on their web site at www.aicpa.org. The
Texas Society of CPAs has information at
www.tscpa.org. Both of
these sites have a student section with more information.
You are also welcome to
contact us at WJH for more information
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