The CPA Exam
The CPA exam is the name for the testing portion of the program designed to qualify accountants as Certified Public Accountants.
The CPA exam is short for the Certified Public Accountant exam. It is a test that is actually one of the most widely used professional certification exams in the world. As with most certification programs, the CPA program is intended to give a certain level of assurance and confidence to the public. In the same manner that one must first pass the Bar examination to become a lawyer, an accountant must pass the CPA exam to be considered a Certified Public Accountant. When we know that someone holds this certification, we are more likely to entrust them with our financial management requirements.
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The CPA exam is not the only part of the certification process. The CPA certification process uses a principle called the “3 E’s.” These stand for education, examination, and experience. So, merely passing the examination is not enough to earn a certification. The educational and experience requirements differ slightly from State to State and it is important to make sure they are completely understood for the jurisdiction where you intend to be certified.
The minimum educational require is a Bachelors Degree with a certain number of credit hours devoted to Accounting based courses. Most States specify certain courses that are required before the examination can be taken. It is interesting to note that Professional Ethics is one of these requirements. This further illustrates the idea that the purpose of the entire program is to protect the individual who will be using the services of the CPA. These people will be putting their financial information and maybe even their future financial security in the hands of the CPA. The Certification Program can not guarantee 100% assurance that you will be in good hands, but can make it as safe as possible.
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The examination is required by all 55 United States jurisdictions. This includes all the 50 States and the 5 dependent territories. In order to be a Certified Public Accountant, the exam must be successfully completed. The actual eligibility requirements for taking the exam and the education and experience ones as well vary from State to State. Information on these questions can be found on the Web sites of the various Boards of Accountancy
The CPA exam is demanding and somewhat difficult. In order to even be allowed to take it, you must meet strict experience and education requirements. This should give a clue to the other side of the picture. A Certified Public Accountant is in great demand in the public and private sectors. They can be doing any number of types of accounting from the handling of individual estate planning to tax advice.