08-15-2024, 02:17 AM
(This post was last modified: 08-15-2024, 05:04 AM by Robson.
Edit Reason: brevity
)
Certified Public Accountant (United States)
CPAs in the US have audit rights and can sign off on financial documents. To become a US CPA, you need to have:
(i) accounting education,
(ii) working experience, and
(iii) passed the CPA exam.
Each state has different requirements for these.
The most inclusive state to become a CPA is Washington. Through the Washington route, you can be a US CPA by doing UMPI accounting courses and working in a business-related, non-audit role.
Washington State CPA requirements
- Accounting education: 150 credit hours, including a bachelors or higher degree, 24 hours of accounting credits (with 15 UL or grad credits), and 24 hours of business admin credits
* Does not require degree to be from US RA institution
- Working experience requirements: Minimum 12 months + 2000 hours of any employment that involves accounting skills.
* Has to be verified by a US CPA with 5 years experience
- CPA exam: Can be completed around the world with no additional in-state requirements
* No residency/citizenship requirements
Texas
Unlike Washington, some states require (i) specific, in-person RA coursework that forms part of a degree; (ii) accounting work directly under a CPA; (iii) the exam to be taken in the US, with US citizenship and/or state residency requirements.
As a comparison, these are the requirements for becoming a CPA in Texas:
- Accounting education: At the board's discretion.
* Distance learning restrictions: Online credits must be "offered and accepted" for a bachelors degree or above. Community colleges and ACE credits are prohibited.
* International learning restrictions: WES and other evaluator services are not allowed. The board, with the help of UT Austin, will decide the equivalency of international degrees.
* Coursework restrictions: The board imposes a number of requirements for what the accounting and business admin courses should comprise.
- Experience requirements: 12 months of accounting work directly under a US-licensed CPA
- CPA exam: Has to be done in the United States.
* Residency: No residency/citizenship requirements.
International accounting qualifications
Chartered Global Management Accountant
The CGMA qualification, offered by the Chartered Institute of Management Accountants (CIMA), can be done online through the self-paced CIMA's Finance Leadership Program (FLP), without any in-person exams.
For a fixed annual rate, you complete 10 CGMA FLP "case study exams" at your own pace. Business or accounting degree graduates can receive exemptions for one to four courses.
This route is known to be one of the easier ways to get an accounting qualification, with some people doing all 10 modules within a few months. CIMA recommends three to four years.
One downside of the CGMA is that it doesn't give you any rights of signing financial documents.
Requirements:
- Self-paced online course, pay per year needed
- Three-years work experience in accounting and finance-related jobs, as verified by line manager
CPA Australia
An easy way to qualify as a CPA in Australia would be through the reciprocal agreement between CPA Australia and CIMA.
Under the agreement, if you qualify as a CGMA, you automatically satisfy the work, education, and examination requirements to be an Australian CPA. You only need to do an additional online course to get the CPA title.
However, Australian CPAs don't automatically have the right to sign off on audit documents. For this, you need to obtain a practice certificate, which requires additional work and education requirements.
Accounting qualifications as transfer credits
Some state boards and university degree programs recognise accounting qualifications as credits. For example, some US state boards will accept an international accounting qualification as equivalent to a degree and waive the bachelors requirement.
ACCA
The ACCA (Association of Chartered Certified Accountants) is an accounting body based in the UK with signing rights in a number of jurisdictions.
Ordinarily, the ACCA requires 13 exams for non-accounting degree-holders. The CGMA (which has no signing rights) can be transferred into the ACCA (which can have signing rights), resulting in five exemptions (BT, MA, FA, PM, and FM). Further exemptions can be obtained if you have an accounting degree.
Oxford Brookes University BSc (Hons) in Applied Accounting
The ACCA has a partnership with Oxford Brookes University to offer a Bachelor of Science in Applied Accounting through the completion of ACCA exams.
The requirements are:
* Completion of the exams Financial Reporting (FR), Audit and Assurance (AA), and Financial Management (FM). (Everything else can be exempted.)
* Submission of a research project before May 2026, which is when the degree program ends.
If you transfer the CGMA to the ACCA, you'd have to do 9 more exams (FM can't be exempted for the degree) and submit the project. This is a relatively cheap and quick way to get a degree in accounting.
University of London MSc in Professional Accounting
Last, the UoL MSc Professional Accounting is an online program that gives significant credit exemptions to qualified accountants, including CPA, CGMA, and ACCA members.
Whereas a UK are typically 180 UK credits, the UoL MPA is only 60 credits and can be completed in just 6 months:
* 2 elective courses in accounting or finance
* Submission of a capstone project
* 6-months if full time; ~5000 pounds
CPAs in the US have audit rights and can sign off on financial documents. To become a US CPA, you need to have:
(i) accounting education,
(ii) working experience, and
(iii) passed the CPA exam.
Each state has different requirements for these.
The most inclusive state to become a CPA is Washington. Through the Washington route, you can be a US CPA by doing UMPI accounting courses and working in a business-related, non-audit role.
Washington State CPA requirements
- Accounting education: 150 credit hours, including a bachelors or higher degree, 24 hours of accounting credits (with 15 UL or grad credits), and 24 hours of business admin credits
* Does not require degree to be from US RA institution
- Working experience requirements: Minimum 12 months + 2000 hours of any employment that involves accounting skills.
* Has to be verified by a US CPA with 5 years experience
- CPA exam: Can be completed around the world with no additional in-state requirements
* No residency/citizenship requirements
Texas
Unlike Washington, some states require (i) specific, in-person RA coursework that forms part of a degree; (ii) accounting work directly under a CPA; (iii) the exam to be taken in the US, with US citizenship and/or state residency requirements.
As a comparison, these are the requirements for becoming a CPA in Texas:
- Accounting education: At the board's discretion.
* Distance learning restrictions: Online credits must be "offered and accepted" for a bachelors degree or above. Community colleges and ACE credits are prohibited.
* International learning restrictions: WES and other evaluator services are not allowed. The board, with the help of UT Austin, will decide the equivalency of international degrees.
* Coursework restrictions: The board imposes a number of requirements for what the accounting and business admin courses should comprise.
- Experience requirements: 12 months of accounting work directly under a US-licensed CPA
- CPA exam: Has to be done in the United States.
* Residency: No residency/citizenship requirements.
International accounting qualifications
Chartered Global Management Accountant
The CGMA qualification, offered by the Chartered Institute of Management Accountants (CIMA), can be done online through the self-paced CIMA's Finance Leadership Program (FLP), without any in-person exams.
For a fixed annual rate, you complete 10 CGMA FLP "case study exams" at your own pace. Business or accounting degree graduates can receive exemptions for one to four courses.
This route is known to be one of the easier ways to get an accounting qualification, with some people doing all 10 modules within a few months. CIMA recommends three to four years.
One downside of the CGMA is that it doesn't give you any rights of signing financial documents.
Requirements:
- Self-paced online course, pay per year needed
- Three-years work experience in accounting and finance-related jobs, as verified by line manager
CPA Australia
An easy way to qualify as a CPA in Australia would be through the reciprocal agreement between CPA Australia and CIMA.
Under the agreement, if you qualify as a CGMA, you automatically satisfy the work, education, and examination requirements to be an Australian CPA. You only need to do an additional online course to get the CPA title.
However, Australian CPAs don't automatically have the right to sign off on audit documents. For this, you need to obtain a practice certificate, which requires additional work and education requirements.
Accounting qualifications as transfer credits
Some state boards and university degree programs recognise accounting qualifications as credits. For example, some US state boards will accept an international accounting qualification as equivalent to a degree and waive the bachelors requirement.
ACCA
The ACCA (Association of Chartered Certified Accountants) is an accounting body based in the UK with signing rights in a number of jurisdictions.
Ordinarily, the ACCA requires 13 exams for non-accounting degree-holders. The CGMA (which has no signing rights) can be transferred into the ACCA (which can have signing rights), resulting in five exemptions (BT, MA, FA, PM, and FM). Further exemptions can be obtained if you have an accounting degree.
Oxford Brookes University BSc (Hons) in Applied Accounting
The ACCA has a partnership with Oxford Brookes University to offer a Bachelor of Science in Applied Accounting through the completion of ACCA exams.
The requirements are:
* Completion of the exams Financial Reporting (FR), Audit and Assurance (AA), and Financial Management (FM). (Everything else can be exempted.)
* Submission of a research project before May 2026, which is when the degree program ends.
If you transfer the CGMA to the ACCA, you'd have to do 9 more exams (FM can't be exempted for the degree) and submit the project. This is a relatively cheap and quick way to get a degree in accounting.
University of London MSc in Professional Accounting
Last, the UoL MSc Professional Accounting is an online program that gives significant credit exemptions to qualified accountants, including CPA, CGMA, and ACCA members.
Whereas a UK are typically 180 UK credits, the UoL MPA is only 60 credits and can be completed in just 6 months:
* 2 elective courses in accounting or finance
* Submission of a capstone project
* 6-months if full time; ~5000 pounds
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