The Certification of Public Accounts is the exam you need to take to familiarize yourself in this field. But, it can be somewhat daunting, with all the information you have to learn and the test itself. In this article, we will do everything in our power to tell you what you need to know about the CPA exam in a nutshell. Keep reading!
What Does a CPA Exam Entail?
As you begin your CPA exam preparation, you may be wondering what to expect. CPA candidates should pass four exams along with an ethics exam. They include:
- Auditing and attestation
- Financial accounting and reporting
- Regulation, business environment, and concepts
- Federal taxation.
You can also expect to take two levels of the Uniform Certified Public Accountant Examination afterward and pass the ethics exam again after that.
Who Can Take The CPA Exam?
If you want to take the Certified Public Accountant Exam (CPA), you must meet qualification requirements. The requirements vary from state to state and include:
- Accounting experience
- Enroll in an accredited college or university
- Pass the state certification exam
- Complete any applicable college-related courses
- Pay a required exam fee
There’s a $175 examination fee that you must pay before taking the CPA examination. In cpa exam preparation, you’ll need to bring documents, such as payroll records, tax returns, bank statements, resumes, and T4 slips for work-related expenses.
How To Register For The CPA Exam
If you want to register for the CPA exam, you’ll need to provide a few pieces of information. You should provide the registration number, your job title, and your address. Also, you have to provide your social security number along with a suite of personal information, including your driver’s license number, home address, and telephone number.
Once you have satisfied all the requirements, you’ll be sent to a site where you can choose from multiple options on how you want your information stored. You may want to keep it in a file with your accounting firm, or you can choose to email yourself monthly updates with information about new updates of your exam content.
How Much Does the CPA Exam Cost?
The cost of the Certified Public Accountant (CPA) exam depends on where you intend to sit the exam and what type of exam you want to take. Usually, the CPA exam is taken by individuals who work in accounting services, government agencies, and public companies.
Because the exam is widely accepted and has such a hefty price tag, most individuals who aspire to become CPAs require financial aid before taking the test. The average cost of taking the exam ranges from $332 to $482.
Recently, this cost has gone up, but the process still isn’t cheap. The cost of taking the exam itself doesn’t get you a free license to practice law. You still have to pay for any training or resources needed to take the exam and for any work-related services you provide to an institution that takes your exam.
What Are The Benefits Of Taking The CPA Exam?
- After you pass the exam, you’ll have the CPA license
- You’ll be able to practice as a certified public accountant
- You can work for an accounting firm or start your own business
- You’ll have a higher salary compared to other accountants
- You’ll find more opportunities for advancement because there are fewer CPAs compared to accountants
- It increases your earning potential
- It shows employers you’re committed to your career
- It gets you picked among other numerous job seekers
- It improves your self-confidence
Conclusion
The CPA exam is one of the crucial steps you’ll take in your lifetime. Preparation is the key, and knowing how to answer questions correctly is essential. Preparing for the exam isn’t about memorizing information. It’s also about applying that knowledge in a way that will help you score higher in the exam and get more work. The CPA exam is designed to put individuals in a position where they need to make decisions that impact their financial standing. It presents an opportunity to improve your life by increasing your income and net worth.
Author Name– Zoya Maryam