Education & Training Needed to Be an Accountant
Accountants, also known as certified public accountants (CPA's), assist individuals, businesses and corporations with financial matters, including budgeting, payroll, taxes, retirement funds, investments and financial planning. Some CPAs investigate legal matters, such as fraud, money laundering or embezzlement. CPAs are required to have, at minimum, a bachelor's degree; they also must pass a rigorous accounting examination before becoming certified.
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Bachelor's Degree
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Students who wish to become certified public accountants are required to earn a bachelor's degree from an accredited college or university. Students should earn their degree in accountancy or a related field. All states have specific curriculum and credit hour requirements for students applying for an accounting certification. There are only four states--Colorado, New Hampshire, Vermont and California--that allow students to apply for certification having earned only a 120-credit-hour bachelor's degree. All other states require accounting certification applicants to have 150 credit hours of post-secondary education. Most states require the 150 credit hours to contain a specified amount of business and accounting courses. There are several accredited colleges and universities that offer five-year bachelor's degree programs with an accounting curriculum modified to include the additional 30-credit-hour requirement.
Certification Curriculum
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According to Education-portal.com, a typical undergraduate curriculum preparing students for accountant certification will include the following coursework: accounting and accountancy, accounting control systems, decision-making for accountants, accounting institutions and regulations, tax accounting, accounting analysis, managerial accounting, accounting information systems and business conditions analysis.
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Master's Degree
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Some accounting students earn a master's degree to fulfill the additional 30-credit-hour requirement. Although a master's degree is not typically required for state CPA certification, having the advanced degree can increase employment and earning potential.
Accounting Experience
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Most states require CPA applicants to complete a post-graduate year of accounting experience under the supervision of a certified public accountant.
Uniform CPA Examination
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As a certification prerequisite, public accountants are required to pass the uniform CPA examination. The examination is extremely difficult; less than 50 percent of individuals who take the examination pass. The exam is comprised of four sections that combine multiple-choice questions with case study simulations. The sections and time limits are listed as follows: Auditing and Attestation (4.5 hours), Financial Accounting and Reporting (4 hours), Regulation (3 hours), and Business Environment and Concepts (2.5 hours).
Ethics Exam
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Most states require CPA candidates also to take an examination regarding ethical practices in accounting.
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References
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