CPA Requirements

[Publius]

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

-Have good moral character; and
-Must be at least 18 years old; and
-Have completed 150 semester hours of general college education AND mete ONE of the following requirements:

1. ….
2. ….
3. ….
4. Earned in lieu of completion of 150 semester hours of general college education, a minimum score of 620 on the Graduate Management Admission Test (GMAT), conferral of an associate’s or baccalaureate degree, from an institution recognized by CHEA or accredited by AACSB or recognized by the Board, with 30 semester hours of accounting with at least one course in each of the following:
- financial accounting,
- management accounting,
- auditing, (Internal auditing may not be used for auditing, but may be used as an elective),
- taxation, and
- professional ethics and responsibilities; AND
- 24 hours in business subjects.

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.