You're considering taking the CPA exam. Maybe you're thinking about getting an accounting degree, or maybe you've already declared you're major but aren't sure about your next steps.
Accounting majors must ask themselves, is the CPA license just another resume buffer, or will it help me get the career I want?
What is a CPA?
A CPA, Certified Public Accountant, is a licensed accountant recognized for their advanced understanding of financial records and how to report them to the government. This includes things like filing tax returns and submitting financial reports.
Not all public accountants are CPAs, but having the license shows that you meet the specific requirements for your state, ensuring that you can be a trusted advisor.
It's more than the license; the education you receive makes you an asset for any company.
The Requirements for Licensure
1. Education: Credit Requirement
Graduating an accounting degree won't be enough to meet the requirements for taking the CPA exam. In the state of Idaho, before you even attempt the exam, you must contribute at least 150 credit hours.
To graduate from BYU-Idaho with an accounting major, you must complete the required courses which adds up to 120 credits. BYU-Idaho has a cap of 140 credit hours. To meet the requirement, consider some of these options:
- Graduate School: Transfer to an external MAcc program after obtaining your degree (such as BYU Marriott in Provo, Boise State, Idaho State, or University of Utah).
- External Credits: Complete additional credits via accredited community colleges, CLEP, or online platforms (subject to transfer rules) prior to or alongside BYU-I enrollment.
- Academic Petition: Create an academic plan and submit a petition to the Academic Exceptions Committee through the Student Records and Registration Office.
2. Examination: Pass the Exam
The Uniform CPA exam is your first major milestone in becoming a CPA. This exam will test your knowledge of accounting, auditing, taxation, and business concepts. It is split into four major sections:
- Auditing and Attestation (AUD)
- Business Environment and Concepts (BEC)
- Financial Accounting and Reporting (FAR)
- Regulation (REG)
3. Experience: Acting Like a CPA
The CPA Exam is not the end of your journey to become a CPA. Before you get your license, you must complete 2,000 hours of qualifying experience within 12-36 months supervised by another CPA.
Idaho accepts experience in various settings; examples can be found here.
Obtaining Your Idaho License
Once you have completed all of the steps you must complete Application for License.
Getting your CPA is a huge milestone and can lead to many opportunities. If you are up for the challenge, start your accounting major today.