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Author: LaughingRaven Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 252  
Subject: Re: cpa question Date: 1/11/2006 4:20 PM
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Well, your profile says you're from New York, so the requirements for licensure are covered at your state's Board of Accountancy website at http://www.op.nysed.gov/cpa.htm . Generally, though, licensure requires a combination of education, experience, and an examination.

Education is generally at least 150 credits of college, including at least a Bachelor's Degree. I believe NY has a 120-credit option, so long as you meet certain requirements. Some states require that the degree be in accounting, or have a certain number of credits in accounting; your MBA may be considered sufficient.

Experience varies by state, but most states want two years of public accounting (mostly auditing) experience. This is the FUN part.

Examination is mostly the Uniform CPA Exam. The CPA Exam is usually the big hurdle; it requires hundreds of hours of study, and I know some sharp people who have taken it two or three times and still haven't passed. Many states, including NY, also have an ethics course or exam required for licensure, but that's pretty easy by comparison.

Finally, you have to submit your application, along with a hefty fee, to the state for approval, and you have to join the AICPA (www.aicpa.org) for $180+ per year. From there on out, there are continuing education requirements to maintain your license.

Of course, these are general requirements; 90% of this is decided at the state level, so it can and will vary from one state to the next. If you're interested in requirements for another state, try http://www.aicpa.org/yellow/ypsboa.htm . Also, they're working on a Uniform Accountancy Act which would change everything around again. So if you do pursue a CPA designation, be sure to keep up on your state's requirements.

Good luck!

--
LaughingRaven
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