Going after your CPA is a big decision - with a potentially bigger payoff. Ready to make your move in accounting? Gain insights for every career stage in our free Accounting Career Guide.Īre you ready to strengthen your credentials? Most states require 150 semester hours of educating before a candidate can sit for the exam.Veterans may qualify for reimbursement of testing expenses.Taking all four parts of the computer-based exam costs an average of $1,000.Here are some other facts about CPAs and the CPA exam: In fact, according to the Bureau of Labor Statistics, certification in a specific field of accounting, such as the CPA, greatly improves job prospects. That’s why, in addition to providing a full range of skills, Franklin’s Accounting curriculum and degree program helps prepare professionals for the CPA exam by providing foundational knowledge required to pass the exam.īut the rewards of becoming a CPA are many. In fact, the average passing rate in 2021 was, according to AICPA, just under 50 percent for all four sections of the exam. Licensing, however, is done by state, district and county Boards of Accountancy.Īfter licensing, then and only then, may the person use the designation and present themselves as a CPA. The exam itself is developed and graded by the American Institute of CPAs ( AICPA). In addition to completing a program of study in accounting, and acquiring professional work experience in public accounting, a CPA candidate also must sit for and pass the Uniform CPA Examination. In fact, anyone who does any type of accounting function - even someone without a degree - can call themselves an accountant.Ī certified public accountant (CPA), however, is someone who has earned a professional designation through a combination of education, experience and licensing. And while a CPA is an accountant, not all accountants are CPAs.Ī CPA is different than an accountant. Now before you roll your eyes thinking you already know what a CPA is and does, hear us out.īecause a CPA’s toolbox includes everything from tax preparation, to financial statements, to financial planning, to forensic accounting, to internal auditing, to income tax, the CPA’s primary function is to help businesses thrive. So the old joke goes: What’s does a CPA do? Solve a problem you didn’t know you had in a way you don’t understand.
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