CPA Requirements

[purplewoman]

Which state are you in? I am in IL and the last time I checked this option did not exist here. I really wish it did!

[Publius]

Which state are you in? I am in IL and the last time I checked this option did not exist here. I really wish it did!

Ohio, though I doubt OH is the only one out there with that option. I was really excited when I came across it!

[Yenisei]

In the Information for First-time candidates for the uniform CPA Exam for my state I found the following...

When I contacted the board in reference to this (the fourth option), they defined it as "for the really smart people". Nor did they care if credit was earned through CLEP, DSST, SL, ALEKS, etc. in their words "college credit is college credit". Granted that's one out of 50 state's accounting boards, but if you have something like this as an option it can save tons.
Make sure you have the necessary accounting classes (30 semester hours with one course in financial accounting, management accounting, auditing, and taxation), 24 business courses, an Associates or Bachelors degree (from a recognized institution), and a minimum score of 620 on the GMAT.
The accounting and business courses are easily worked into a degree from TESC (not sure about Excelsior, but I don't see why it wouldn't) and then all that's necessary is min score of 620 on the GMAT. Instead of going on to a masters program (where I'd most likely still have to take the GMAT) I'll just have to incorporate the necessary classes into my degree and take the GMAT and hope I score above 620. No 150 semester hours necessary.Not even a bachelors when it comes down to it... just an Associates (with necessary accounting and business classes of course).

I wasn't aware this even existed... had I not checked I'd of more then likely just went on to accumulate 150 credits. (BTW... the first three options all included the 150 hrs )The point of this post was to say, it isn't always necessary to hit the 150hrs to sit for CPA exam and do things the "norm". Yes, requirements vary from states but yes, there are "loop holes" occasionally, When it is there though it's usually in the fine print or on the last option, but it's still there nonetheless.

This is an interesting option, but a word of caution on this- these are educational requirements for taking the CPA exams- these are not the complete licensing requirements; furthermore, what a prospective CPA should be looking at are the CPA firms' expectations as far as educational requirements go, and I'd imagine that they would be looking for at least a bachelor's degree. The 150 semester hours don't generally have to include graduate credits, either, as far as I can tell.

Here's a link to the full Ohio educational requirements for taking the CPA exams: http://www.acc.ohio.gov/LinkClick.aspx?f...59&mid=387, and note this in particular:

"Correspondence, online courses and CLEP credit are acceptable when a candidate receives credit for the courses at a regionally accredited university. These courses must appear on an official transcript".

Seems to me, for an Ohio applicant, that getting a bachelor's degree and taking additional CLEP/DSST exams rather than taking the GMAT would be the easier path assuming

1) no intention to attend graduate school with five years of taking the GMAT
2) The Big 3 school you are laundering the credits through is willing to add additional CLEP/DSST credits to your official transcript during your enrollment period that were not technically part of the degree.

Part 2) of my suggestion should be gone over with a fine-tooth comb and verified with an advisor at the relevant Big 3 institution and the Ohio state CPA licensing authority before you embark on it. Be sure to do your due diligence and make sure it would work!

EDIT: one other thing, IIRC, the 150 credit requirement may become standardized across all jurisdictions at some point, so be sure to verify that any jurisdiction still allows you to sit for the CPA exams with fewer credits if you decide to use that option in Ohio or elsewhere.

[AZDan]

Since I am working to complete my BSBA in Accounting at TESC, I've been researching how I can gain the total 150 hours to take the CPA exams once I am done with the 120 hours. I revived this thread since it had some good comments.

I am not yet convinced that I should start a Masters program to get the additional 30 hours and have been researching what other possible avenues there might be. I am considering a dual major, if that can be accomplished at TESC, because of my change in major. I have a lot of aviation related coursework but have been in accounting for several years. I am wondering if I should try for a LA degree while completing my BSBA in accounting (in which I will get the necessary 36 hours of accounting courses).

I would love to get opinions on this.