Solution
David answered on
Dec 22 2021
Introduction
The paper aims to provide a collection of findings based upon the study and research ca
ied
out to determine the educational and experience requirements for the purpose of appearing in
the Uniform CPA Examination, along with the requirements for licensure and continuing
professional education. Further, an attempt is made to present the purpose, structure and
format of the Uniform CPA Examination along with the other organizations involved in
delivering the examination on a continuous basis. The research and study is based upon a
thorough and extensive study of the website of the American Institute of CPAs (AICPA) and
some professional journals published by the AICPA and other such . besides,
there is a discussion following it to assess, evaluate and gauge the progress made cu
ently in
meeting these educational and experience requirements for the Uniform CPA Examination.
The paper goes on to reflect upon the opportunities available for student and membership in
the various accounting associations at state and national level. Further down, it presents the
avenues and opportunities available for taking up internships with any public accounting
firms. It lays down the strategies for staying up to date in accounting knowledge once and
after graduation has been completed. Finally, the paper concludes with the latest trends and
developments in accounting career.
Educational and experience requirements
The educational requirements for sitting for the Uniform CPA exam and which are set by
each state accountancy board are completing a program of study in accounting at the
university or college level. In particular, the California Board of Accountancy requires that
the candidate appearing for the Uniform CPA exam must have a baccalaureate degree or a
degree which is higher than that from a college or university which grants such degrees. A
foreign equivalent of such a degree is also acceptable provided that it is evaluated by an
evaluation service which evaluates foreign academic credentials and is at the same time,
approved by the CBA or the California Board of Accountancy for the state of California.
It is required that the candidate must have completed 24 semester units of accounting subjects
such as Accounting, Auditing, Financial Reporting, External or Internal Reporting, Financial
Statement Analysis and Taxation. Besides, in addition to these, there are few subjects or
courses which meet the definition of accounting subjects and these include Assurance,
Attestation, Bookkeeping, Cost including Cost Analysis and Costing, Quickbooks and
Peachtree. Moreover, it also includes the CPA Review courses which may have been taken
from accredited institutions at the regional and national level.
It is required that the candidate must have completed 24 semester units of business-related
subjects. The business-related subjects approved by the California Board of Accountancy
(CBA) and qualifying in this respect are Business Administration, Business Law, Computer
Science/Information Systems, Finance, Mathematics, Business Management, Business
Communications, Marketing, Economics, Statistics and also includes Business –related law
courses which may be offered by a law school which has been accredited.
In terms of experience requirements, it varies according to the licensing jurisdiction. It is
desired that a precise and particular amount of professional work experience be gained in the
field of public accounting.
Licensure and continuing professional educational requirements
The licensure for CPA requires that the “Three Es” of Education, Experience and
Examination have been met. This requirement of Education is uniform and same in all the
jurisdictions and states of U.S. But, the requirements for Experience and Examination are
different according to the state in which the license is being granted. The licensure
equirements for CPA have been modified in California lately and these are effective from
January 1, 2014. It is required that in case you apply for the CPA license after the date of
December 31, 2013; it becomes necessary to produce the relevant documents for completion
of educational requirements before the CPA license is issued.
Further, as regards the Continuing Professional Education (CPE) , it is required that the
licensee who needs a renewal of the license, must have accumulated for himself, 80 hours of
qualifying continuing education.
Purpose, structure and format of the Uniform CPA Examination
In order to qualify and obtain license to practice as a Certified Public Accountant in the
various U.S. states, it is essential that an individual must have passed the Uniform Certified
Public Accountant examination. The purpose of the Uniform CPA Examination is to provide
easonable, sufficient and complete assurance to the various Board of accountancy in the
various states to the effect that the candidates who have passed the said examination have
come to possess the required skills and technical knowledge for the practise of the profession
of accountancy. Further, it provides reasonable assurance to the effect that they shall be
granted the license and shall be able to practise the profession in public interest.
The Uniform CPA examination is so structured to contain four sections. These include the
Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial
Accounting and Reporting (FAR), and Regulation (REG). It is...