Facts

• Most of public accounting firms require potential employees to have a bachelor's degree in accounting prior to being hired. While professional certification is usually not a requirement to work in a public accounting firm, many individuals obtain licensure while working in a public accounting environment. The certified public accountant (CPA) license is the premier certification for public accountants. The requirements to earn this license are set by state accountancy boards in conjunction with the American Institute of Certified Public Accountants (AICPA).
  
  

Education

• Most state accountancy boards require candidates for the CPA license to have 150 semester credit hours when sitting for the CPA exam. This educational requirement is usually met by obtaining a bachelor's degree containing 120 semester credit hours along with a master's degree containing a minimum of 30 semester credit hours. Each state has its own requirements regarding specific accounting courses for these degrees.
  
  

CPA Exam

• The CPA exam is a computerized test covering four major sections of accounting and business information. These sections include auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation. Each section of the exam is taken separately; the exam takes approximately 14 total hours to complete. State accountancy boards provide individual candidates with the information on the testing locations in the times the exam is offered.
  
  

Considerations

• A few states may also require individuals to have accounting experience before obtaining the CPA license. Individuals may find working in a public accounting environment provides them with a strong background for achieving the experience needed for earning the CPA license. Being able to work in an environment first hand and learn the specific procedures regarding accounting topics can help individuals expand their knowledge about accounting information to have practical experience for taking the exam.
  
  

Benefits

• The U.S. Bureau of Labor Statistics (BLS) reports the need for accountants and auditors is expected to grow much faster than average between 2008 and 2018 according to its website. The BLS also expects growth to be around 22 percent during this decade, with individuals possessing a professional certification, such as a CPA license, having the best job opportunities and prospects. The growth in the accounting industry is attributed to changes in financial regulations, corporate governance changes and the increase in businesses in the economic environment.