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Thursday, January 11, 2007

CPA - certification supreme

Was gathering info on the Certified Public Accountant exam, so decided to post the info I had gathered. There are many accounting-related certifications but I personally think that CPA is a grand-daddy of all accounting certifications. Reason being that not only is CPA required by most states and SEC for auditing client firms but also because it is widely known and respected by not just among accounting professionals but even general public. From career opportunities and advancement purposes, having a CPA is very helpful for some one working in the field of accounting and even in certain areas of finance.

The certification is sponsored by American Institute of Certified Public Accountants (AICPA), and requires passing four different exams, with a combined duration of 14 hours. The four different exams cover the following areas:

Business Environment and Concepts (2.5 hours)
Auditing and Attestation (4.5 hours)
Regulation (3 hours)
Financial Accounting and Reporting (4 hours)

The exam consists of testlets, containing groups of 24 to 30 multiple-choice questions, and simulations, ie, condensed case studies. The passing score is 75 on a 0-99 scale, and the average passing rate is in 40 to 50% range. The exam is all computerized and can be taken any time during test windows that are open 8 out of 12 months in a year (Jan-Feb, Apr-May, Jul-Aug, and Oct-Nov).

Total cost varies by state and is usually in $500-$800 range. For complete and updated details on fees, schedule, education and experience requirements for each state, check out the NASBA site by clicking the link below:

NASBA

Also, see the following related links:

CPA-Exam

CPA Computer Based Exam FAQs

AICPA

For posts on other certifications, check out the following links:

Certified Management Accountant (CMA)

Certified Internal Auditor (CIA)

Enrolled Agent (EA)

Chartered Financial Analyst (CFA)

Certified Information Systems Auditor (CISA)

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posted by Ruby @ 7:19 AM

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