Certified public accountants (CPAs) help clients and employers with financial data, including analysis, reporting, and auditing. CPAs are distinguished from other accounting professionals by having passed a standardized license exam and meeting rigorous state requirements. Because of this, CPA certification is highly valued, and accountants with the credential can find work in diverse roles in various organizations.
A prospective accountant learning how to become a CPA must understand the requirements to take and pass the CPA exam. An advanced education not only helps individuals meet CPA requirements but also builds the critical accounting expertise needed to thrive in the field. With the right preparation and a commitment to growth, you can turn ambition into achievement and take the next step toward becoming a CPA.
What Does a CPA Do?
CPAs are typically responsible for high-level taxation services and audits. They help businesses file taxes, navigate tax laws, and avoid costly tax mistakes. They can also assist with budget management and help clients manage debts. CPAs can also assist with investment management, helping companies decide how much to invest and identifying likely returns.
CPAs can help lower costs through business restructuring and eliminate unnecessary spending. They regularly assist leadership in making business decisions by forecasting financial developments and adapting to economic and tax regulation changes. This can help companies better direct themselves toward their financial goals, making CPAs highly regarded assets.
Steps to Become a CPA
Becoming a CPA requires fulfilling education and work experience requirements and passing essential exams, which can vary by state.
1. Earn a Degree
Taking the CPA exam generally requires a minimum of 150 hours of college education, including a bachelor’s degree. Some states require hours of coursework on a specific subject, such as accounting or business. While some students choose to take additional undergraduate courses to fulfill these requirements, others pursue advanced education in a financial or an accounting field, such as a Master of Science (MS) in Taxation.
An advanced degree can help students understand finances at a higher level than many foundational courses in bachelor’s degree programs. Courses in these programs cover wealth management, federal income taxation, modern corporate tax laws, and data visualization. Master’s degree programs that concentrate on analytical components can qualify for STEM designation — science, technology, engineering, and mathematics — which offers benefits to qualifying international students looking to extend their work permits.
2. Develop Key Skills
Aspiring CPAs can benefit from developing the following skills:
- Leadership
- Communication
- Ethics
- Project management
- Proficiency with financial and accounting software, such as QuickBooks, TurboTax, and Copilot (by Copilot Platforms)
- Data analysis
- Research
3. Gain Work Experience
Becoming a CPA requires a minimum of one year of relevant work experience, although some states may have a higher requirement. Relevant work experience can include roles in government, public accounting, various industries, or academia. While the positions typically must involve accounting to some degree, they may also focus on attestation, taxes, financial consulting, management, or advisory services. Aside from CPA requirements, work experience may increase employability, as businesses may favor those with more significant work experience.
4. Gain CPA Licensure
The American Institute of CPAs (AICPA) awards CPA certification. To pass the Uniform CPA Examination, aspiring CPAs must demonstrate expertise in financial accounting, auditing, attestation, taxation, and regulation. The exam is divided into four parts, with accountants required to pass three core sections covering foundational knowledge and one of three discipline sections covering a more advanced aspect of accounting.
Depending on their state, accountants may also need to pass an ethics exam for licensure. This exam is often allowed to be taken as “open book,” and candidates are typically required to achieve a 90% passing score within one or two years after passing the CPA exam. Some states may have additional requirements for licensure.
CPA Salary and Job Outlook
Becoming a CPA can lead to competitive compensation. The median annual salary for accountants and auditors, including CPAs, was $79,880 as of May 2023, according to the U.S. Bureau of Labor Statistics (BLS).
The job outlook for CPAs is also promising, with the BLS projecting 6% growth for accountants and auditors between 2023 and 2033. This growth rate is higher than the average 4% growth predicted for all occupations. The BLS attributes this growth to globalization and a growing economy, which could help drive demand for those with accounting expertise in taxes and international trade.
Forecast Your Future Career as a CPA
Becoming a CPA involves meeting a stringent set of educational requirements and establishing a strong foundation in accounting and financial subjects. This challenge demands resilience, determination, and a commitment to excellence. Through Bryant University’s MS in Taxation Online, you can transform challenges into an opportunity for growth. This program equips aspiring CPAs with a robust foundation in accounting and financial subjects, offering specialized courses in individual income taxation, international, state, and local tax practices, and corporate and shareholder taxation.
This 10-week asynchronous degree program allows students to start at multiple points throughout the year, which enables them to balance their careers, gain the required work experience, and advance their education simultaneously. Take the first step toward becoming a CPA and discover how Bryant University can help you shape your future.
Discover your potential at Bryant.