New Jersey CPA Certification
Individuals working in the accounting industry usually obtain professional certification. The most popular professional certification is the certified public accountant (CPA) license. The CPA license is issued through each state's accountancy board and requires individuals to complete the uniform certified public accountant exam. This exam is created by the American Institute of Certified Public Accountants (AICPA) in conjunction with the National Association of State Boards of Accountancy (NASBA).
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Regulations
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The New Jersey State Board of Accountancy is the government agency responsible for maintaining certification requirements for New Jersey CPAs. The board of accountancy offers information relating to CPA exam requirements, CPA certificate requirements, continuing professional education and other issues relating to the state's accounting industry. The board of accountancy also manages the proposal and adoption of accounting laws or regulations. Licensed CPAs have to abide by the state's accounting guidelines.
Education
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New Jersey requires individuals to have baccalaureate degree with 120 semester hours of education to sit for the CPA exam. A baccalaureate degree in business must contain at least 24 semester hours in accounting and 24 semester hours in business courses, if earned at the undergraduate level. A baccalaureate degree must contain 30 semester hours in accounting and at least 24 semester hours in business courses at the graduate or undergraduate level, if earned outside of a business degree. Graduate degrees must contain at least 24 semester hours in accounting in undergrad requirements, with at least 15 semester hours at the graduate level. Individuals must have 150 total semester hours prior to being granted the New Jersey CPA license.
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Work Experience
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While not required, CPA candidates may choose to gain accounting experience prior to sitting for the CPA exam. This experience can help individuals learn about accounting topics outside of traditional education and help prepare them for the exams topics. Individuals may also work with currently practicing CPAs to gain new knowledge or experience regarding the CPA exam. Individuals may find working in a public accounting firm, private accounting department or government agency to be the most beneficial when learning about practical accounting concepts.
Features
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The New Jersey Board of Accountancy requires licensed accountants to complete 120 credits of continuing professional education. This education must be earned during a three year period prior to renewing the CPA license. Official CPE requirements and accepted classes or coursework are listed on the board of accountancy use website.
CPA Exam
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The CPA exam consists of four parts: financial accounting and reporting, auditing and attestation, regulation, and business environment and concepts. Each section is taken and graded separately. This allows individuals to pass one section at a time and retake only the failed sections if necessary. Each section ranges from 2.5 to 4.5 hours and contain multiple choice questions testlets along with simulation testlets. A majority of the exam is taken via computer and reviewed carefully prior to grades being released.
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References
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