5 Reasons Why You Can’t Wait Becoming a CPA
- CPAs = Black Belt Accountants CPA, or certified accountants, are finance professionals who have achieved expertise beyond a “normal” accountant does. This is done through advanced education, training, experience and hard work.
Accountants who aspire to become partners in the accounting firm or move up the corporate ladder want the CPA qualification.
- CPAs Are Needed Everywhere. Corporations, non-profit organizations and governments in every industry around the world look for CPAs to fill in their senior finance positions. It is not surprisingly that junior accountants with CPA are preferred when it comes to recruitment and promotion.
- CPAs Are Indispensable. After the financial crisis, corporate accountability has become the number one concern for companies and their shareholders. Senior management relies on Certified Public Accountants for financial health and integrity of the corporations.
- CPAs Are In Demand. As a result of the Sarbanes-Oxley Act, workload in the accounting department of every corporation has vastly increased, leading to a shortage of accounting experts in a global scale. At the same time, 75% of current CPAs will retire in 15 years, based on a study by the AICPA. This creates a golden opportunity for you to jump into this important industry.
- CPAs Are Paid Better. A study by global recruiting agency Robert Half points out that CPA on average earns 10% better than non-CPA. Also, CPAs with 5+ years experience are paid $80-110K in public accounting firms
It varies slightly from state to state. Most follow the fee schedule by NASBA (National Association of State Board of Accountancy):
- AUD: $193.45
- BEC: $193.45
- FAR: $193.45
- REG: $193.45
- Total: $773.8
2. Application Fee
- First-time candidates pay an initial application fee, which is around $30-$200 (varies from state to state).
- For return candidates, a repeat application fee is required for certain but not all states and this fee is generally lower than the initial application fee.
Note: In general you can expect the total CPA exam application fees (i.e. item 1 + 2) to cost you around $1,000.
3. CPA Exam Review Course
For our exam review course, we provide on average 80 hours of tuition per part. We also provide the relevant study material including but not limited to lecture slides, official text book and official question bank.Our exam review course fees is as follows:
- AUD: QR 6,500
- BEC: QR 6,500
- FAR: QR 7,000
- REG: QR 6,500
4. CPA Ethics Exam Fees
Most states required an ethics exam after the passing of the Uniform CPA exam. If you are to take the one administered by AICPA (chosen by most states), then you can expect to pay around $150 to $190.
5. CPA Licensing Fees and CPE Course Expenses
This is not part of the “CPA Exam Fees” per se, but you should expect to pay for this in order to become a licensed CPA.For the license, it depends on the states you register for, but the range is roughly $50 to $300.The price of CPE courses also varies. It isn’t too expensive and you may be able to get reimbursement from your employer, but this is a recurring cost once you become licensed.