Make The Money As A CPA
Remember when you were young and you were always trying to think of what you would do when you were older? You always wanted to be someone famous or someone who would make lots of money. For awhile I wanted to be a CPA because they made lots of money. Of course I was never good at math!
All CPAs are accountants, but all accountants are not CPAs. CPAs are distinguished from other accountants by stringent state and licensing requirements, including education, examination, and experience. CPAs working in public practice are also required to take Continuing Professional Educational (CPE) courses to keep current on all facets of CPA services.
They must adhere to a strict code of professional ethics that the public recognizes and respects highly. CPAs are among the most extensively trained and experienced tax advisors. Only accountants who are CPAs are part of a licensed profession that provides you with a sense of pride and prestige and gives recognition to your achievements.
To fulfill the education requirement for licensure, you must complete: an accounting program registered by the Department as licensure-qualifying, or
an accounting program that is accredited by an accrediting body accepted by the Department.
Currently the Association for the Advancement of Collegiate Schools of Business (AACSB) is accepted, or a program determined by the Department to be equivalent to a registered program, or 15 years of public accounting experience acceptable to the State Board for Public Accountancy.
The curriculum requirements can be met by courses at the undergraduate or graduate level or by any combination of the two. You must have an overall average in the accounting subjects of “C” or better at the undergraduate level and “B” or better at the graduate level. Courses in federal taxation, professional auditing and advanced financial accounting must be taken at the upper division level (third or fourth year of an undergraduate program) or in a higher degree program. All prerequisite accounting courses must be completed before these courses are attempted.
Fifteen years of public accounting experience acceptable to the State Board for Public Accountancy may be substituted for education for admission to the examination. This experience must be earned under the direct supervision of a U.S. certified public accountant or a New York State public accountant, involve the application of U.S. generally accepted accounting principles (GAAP) and generally accepted auditing standards (GAAS), and contain substantial exposure to auditing and financial statement preparation.
New York State recognizes the Uniform CPA Examination, prepared and graded by the American Institute of Certified Public Accountants (AICPA). In New York, the examination is administered by CPA Examination Services, a division of the National Association of State Boards of Accountancy.
This examination is a computerized examination consisting of four parts:
Auditing & Attestation
Financial Accounting and Reporting
Regulation
Business Environment and Concepts
The passing score for each of the four examination parts will be 75 and will be reported to each New York candidate as a numbered grade. You must successfully pass all parts of the examination within eighteen (18) months. You may sit parts individually, once during each calendar quarter.