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+--- Thread: Easiest routes to CPA and other accounting qualifications (/Thread-Easiest-routes-to-CPA-and-other-accounting-qualifications)
Easiest routes to CPA and other accounting qualifications - Robson - 08-15-2024
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
RE: Easiest routes to CPA and other accounting qualifications - ss20ts - 08-15-2024
Licensing requirements from from state to state. Please don't bank on an international degree being acceptable in the US when it comes to licensing. Some states have VERY strict requirements. In 2027 some states are making changes to their licensing requirements for CPAs. Each person really needs to research their state requirements and how the upcoming changes will impact them.
RE: Easiest routes to CPA and other accounting qualifications - lisarox - 08-16-2024
Pretty sure to take the CPA exam as a Delaware candidate you don't even need a bachelor's degree
RE: Easiest routes to CPA and other accounting qualifications - ss20ts - 08-16-2024
(08-16-2024, 08:04 PM)lisarox Wrote: Pretty sure to take the CPA exam as a Delaware candidate you don't even need a bachelor's degree
Taking the exam and being able to get the CPA license are 2 different things.
https://regulations.delaware.gov/AdminCode/title24/100.shtml
6.2.4 Evidence in a form satisfactory to the Board that the applicant has completed at least 150 semester hours of college education including a Baccalaureate Degree or a higher degree or met the educational requirements of a state that was deemed to be substantially equivalent as of January 1, 2009 and in which the applicant was a CPA examination candidate and passed said exam. The total educational program shall include a concentration in accounting.
6.2.4.1 The applicant also must, upon request, submit proof that the college or university granting the degree was, at the time of the applicant's graduation, accredited by the Middle States Association of Colleges and Secondary Schools or by another comparable regional accrediting association. A degree granted by a college or university not so accredited at the time of applicant's graduation will not be accepted. Graduates of non-United States (U.S.) degree programs will be required to have their credentials evaluated by a credential evaluation service acceptable to the Board, to determine equivalency to U.S. regional accreditation.
6.2.4.2 The concentration in accounting must be completed at an accredited college or university and consist of at least 24 semester hours of courses in accounting principles, intermediate accounting, cost accounting, tax, auditing, advanced accounting, accounting information systems, and law. Courses in other business subjects, such as banking, computer science, economics, finance, insurance, management and marketing will not be accepted as accounting courses for this purpose.
RE: Easiest routes to CPA and other accounting qualifications - Robson - 08-17-2024
(08-16-2024, 08:18 PM)ss20ts Wrote:(08-16-2024, 08:04 PM)lisarox Wrote: Pretty sure to take the CPA exam as a Delaware candidate you don't even need a bachelor's degree
Taking the exam and being able to get the CPA license are 2 different things.
https://regulations.delaware.gov/AdminCode/title24/100.shtml
6.2.4 Evidence in a form satisfactory to the Board that the applicant has completed at least 150 semester hours of college education including a Baccalaureate Degree or a higher degree or met the educational requirements of a state that was deemed to be substantially equivalent as of January 1, 2009 and in which the applicant was a CPA examination candidate and passed said exam. The total educational program shall include a concentration in accounting.
6.2.4.1 The applicant also must, upon request, submit proof that the college or university granting the degree was, at the time of the applicant's graduation, accredited by the Middle States Association of Colleges and Secondary Schools or by another comparable regional accrediting association. A degree granted by a college or university not so accredited at the time of applicant's graduation will not be accepted. Graduates of non-United States (U.S.) degree programs will be required to have their credentials evaluated by a credential evaluation service acceptable to the Board, to determine equivalency to U.S. regional accreditation.
6.2.4.2 The concentration in accounting must be completed at an accredited college or university and consist of at least 24 semester hours of courses in accounting principles, intermediate accounting, cost accounting, tax, auditing, advanced accounting, accounting information systems, and law. Courses in other business subjects, such as banking, computer science, economics, finance, insurance, management and marketing will not be accepted as accounting courses for this purpose.
There are also states that allow you to have an unlicensed CPA credential.
https://www.becker.com/blog/cpa-certification-vs-cpa-license
"While all states require that you pass the CPA Exam to become a CPA, only "two-tier" states officially name and issue CPA certification before licensure. "Two-tier" simply means that there are two phases to becoming a CPA:
- Sit for and pass the CPA Exam to earn your CPA certification.
- Gain additional experience and/or education, then apply for and receive your CPA license.
RE: Easiest routes to CPA and other accounting qualifications - ss20ts - 08-17-2024
(08-17-2024, 08:51 AM)Robson Wrote: There are also states that allow you to have an unlicensed CPA credential.
https://www.becker.com/blog/cpa-certification-vs-cpa-license
"While all states require that you pass the CPA Exam to become a CPA, only "two-tier" states officially name and issue CPA certification before licensure. "Two-tier" simply means that there are two phases to becoming a CPA:
Nebraska, Alabama, Connecticut, Hawaii, Illinois, Kansas, and Oklahoma are the only two-tier states."
- Sit for and pass the CPA Exam to earn your CPA certification.
- Gain additional experience and/or education, then apply for and receive your CPA license.
That website isn't from a state licensing body. Always take them with a grain of salt as they frequently have errors or outdated information.
The fact remains that Delaware does require a bachelor's degree to become a licensed CPA.
RE: Easiest routes to CPA and other accounting qualifications - lisarox - 08-17-2024
I was just saying you can become a candidate in Delaware without a degree. Some people do that to pass the exam before graduating.
RE: Easiest routes to CPA and other accounting qualifications - Robson - 08-20-2024
(08-17-2024, 11:55 AM)ss20ts Wrote:https://nasba.org/licensure/substantialequivalency/(08-17-2024, 08:51 AM)Robson Wrote: There are also states that allow you to have an unlicensed CPA credential.
https://www.becker.com/blog/cpa-certification-vs-cpa-license
"While all states require that you pass the CPA Exam to become a CPA, only "two-tier" states officially name and issue CPA certification before licensure. "Two-tier" simply means that there are two phases to becoming a CPA:
Nebraska, Alabama, Connecticut, Hawaii, Illinois, Kansas, and Oklahoma are the only two-tier states."
- Sit for and pass the CPA Exam to earn your CPA certification.
- Gain additional experience and/or education, then apply for and receive your CPA license.
That website isn't from a state licensing body. Always take them with a grain of salt as they frequently have errors or outdated information.
The fact remains that Delaware does require a bachelor's degree to become a licensed CPA.
"*These states are two-tier. A certificate is initially obtained which does not allow the individual full privileges as a CPA. After additional requirements are met, the certificate holder may receive a license or permit. Only those CPAs holding an active license or permit are considered substantially equivalent."
RE: Easiest routes to CPA and other accounting qualifications - nykorn - 11-30-2024
I have a BA in an unrelated subject, so all I need is those final few credits of finance related skills.
I can get a titulo propio worth around 30 US credits, equivalent to a regionally accredited US Bachelor's according to NACES, in a Finance-focused subject which includes Accounting and Budgeting modules, to hopefully account for the Accounting credits they want. Then a second propio being an MBA to account for the 24 credits of Management courses they want. I also have accredited post-secondary education that contained an accounting class. The validity of these are questionable in regards to the evaluation service the CPA uses as no one has tried it. All this would cost around $400 for the two propio degrees, and $275 to $500 for the foreign degree evaluation.
I don't know if there is any other cheaper way to get the Education portion completed at a price tag of $1,000 or less. The cheapest MBA I saw, which I am not sure qualifies you for the CPA exam, is at Hellenic which I'm told is $3,000.
I have had a clerk / reception role where I dealt with finances in a very minor way - just setting prices, billing people and sending off the bill to the owner of the company. That page linked above states "Employment experience must occur in a work environment that provides the opportunity to utilize skills generally used in business, accounting, and auditing including: Accounting for transactions, Budgeting, Data analysis, Internal auditing, Preparation of reports to taxing authorities, Controllership functions, Financial analysis, Performance auditing.". This sounds like it means that you didn't necessarily have to had actually learned or mastered all of those skills, it just had to have been possible to learn them on the job. I can still log into my old account and get screenshots proving the system teaches me those skills, to show to the CPA to sign off on.
Additionally they will accept non-paid roles that utilize these skills, so someone could volunteer for something like treasurer of a club that uses those skills to get the "work experience" section down.
It sounds like the fastest way for me to qualify for the CPA exam would be to:
- Be in Washington state.
- Gather proof that my previous clerk role utilized the above skills.
- Show the proof I gathered to a licensed CPA to sign off on.
- Submit that with my academic qualifications and pray they accept two titulo propio.
Or does anyone have any other suggestions?
Are there free online courses from Europe which would count towards the CPA?
RE: Easiest routes to CPA and other accounting qualifications - lisarox - 11-30-2024
In which state are you trying to get licensed? Some states let you do the FEMA credits that are transcripted by Fredrick Community College.