CPA. Certified Public Accountant. Handbook

Transcription

1 CPA Certified Public Accountant Handbook

2 CPA Certified Public Accountant What is a CPA A CPA is a certified public accountant who is licensed by a state board of accountancy. To earn the prestige associated with the CPA license, you are required to demonstrate knowledge and competence by meeting high educational standards, passing the CPA exam and completing a specific amount of general accounting experience. The two most important aspects of becoming a CPA are passing the Uniform CPA Exam and meeting licensing requirements in the state where you want to practice. Becoming a CPA 3 E s are required for licensure Education Have a bachelor's degree or higher Requirements vary by state/jurisdiction Exam Pass all 4 exams Eligibility to sit for exam depends on state Experience Many states require the candidate to have 1 2 years experience under a CPA

3 Why get licensed? The CPA license is a symbol to the public that an accountant has mastered the vital elements of the profession. A CPA license is a high standard recognized by employers and their clients, governments and the public as an assurance of skill, dedication and quality. In today s business world, a CPA represents a trusted voice in business and financial consulting and is a sought-after commodity among all walks of professional organizations. The AICPA does not license CPAs. The licensing authority and requirements for CPAs falls under the jurisdiction of the Board of Accountancy for the state, district, or country in which a CPA practices. Five popular reasons for earning a CPA license Prestige and Respect Career Development Career Security Money and Benefits Job Satisfaction and Variety

4 Why and Who Should Apply for the CPA The CPA examination is the most established and recognized professional accounting designation. The benefits include: Higher Salary Recognition in an Elite group Increase Confidence The opportunities available to a CPA are positions in: NGO Public/Privat Company Government CPA Accounting Firms As a CPA, you could specialize in: Tax Accounting Estate Planning Financial Planning Management IT CPA Auditing

5 Enrolment in CPA

6 Pay Application and Examination Fees Taking the examination involves two categories of required fees that are to be paid either to your board of accountancy or to NASBA. The required sections are as follows: o Application Fee: This fee is established by and paid to your board of accountancy or its designated agent. o Examination Fee: The amount of this fee depends on the section of the examination and is paid either to your board of accountancy, its designated agent or to NASBA. o Examination fees are established by boards of accountancy, NASBA, the AICPA and Prometric. o Note: You must pay additional fees for each examination section you plan to take internationally upon registration, regardless of which board of accountancy has declared you eligible for the examination. International Administration of the CPA Exam The CPA Examination application process is basically the same for U.S. and international candidates. In order to qualify to take the CPA Examination outside the U.S., candidates will have to establish their eligibility through a State Board participating in the International CPA Examination Administration program. Prospective candidates must select the participating U.S. jurisdiction to which they will apply, contact the Board of Accountancy in that jurisdiction to obtain application materials, submit completed applications and required fees asinstructed, and once deemed qualified, register for the examination. After receiving the Notice to Schedule, you may then register to take the examination in an international location through a participating state board.

7 The CPA Curriculum FAR: Financial Accounting and Reporting REG: Regulations AUD: Auditing and Attestation BEC: Business Enviroment and Concepts Examination Length and Formats *Passing score is 75 on a 0-99 scale for each exam.

8 Join the CPA Courses Now at Milestones Course Schedule: Once a week from 6:00 PM till 9:00 PM Course Location: Milestones Head Office, Antelias Course Duration: weeks Exam Location: Amideast, Beirut, Down Town Testing Windows: 1. January 1 February 28 (29) 2. April 1 May July 1 August October 1 November 30 You can take any or all sections of the examination during any testing window and in any order. However, you may not take the same section more than once during any one testing window. Gleim CPA Materials 1. The Gleim System for Success -- Our System for Success helps you develop and implement a system for success for the CPA exam. 2. Prepares you for the nondisclosed computer-based exam -- We solicit feedback from Gleim users following each exam, which helps us fine tune our study materials.

9 3. Intuitively appealing -- Gleim is easy to understand and easy to study. Rather than extra work, Gleim products are perceived as extra help. Gleim materials are used in CPA Reviews across the world and at universities throughout the United States! 4. Helps you understand why you answer practice CPA questions incorrectly -- Gleim helps you to avoid making mistakes on the actual exam. Most candidates are overly concerned with the correct answers, whereas understanding why each incorrect answer was selected is the key to improving performance. 5. EFFECTIVE -- We can help! Gleim candidates experience tremendous success when they complete 90% of the work in CPA Gleim Online. 6. Cost Effective -- The mission of Gleim is to provide the most effective knowledge transfer system and to assist users in achieving success with the minimum investment of time and resources. Gleim Works! Visit: or mail us on: Call us: / Follow us: