CPA Exam
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Notice: The Oregon Board of Accountancy now allows students to count up to 18 internship credits (ACTG 404 at PSU) towards CPA eligibility. Effective January 1, 2024 the Oregon Board of Accountancy will also allow students to take the CPA exams before they have earned 225 quarter credit hours. 225 quarter credit hours are still required to receive your CPA license and public accounting employers still expect students to complete 225 credits before working full time.  

So, what does this mean? You still have to earn 225 credit hours to get your CPA license, but now you can start taking your CPA exams as soon as you finish your accounting degree AND you can utilize more internship credits to help you earn the 225 credits. 

Read below for the updated CPA licensure requirements.

To become a Certified Public Accountant in Oregon, you have to meet the following requirements (in no particular order): 

• 1. Educational requirements: 

     • • Earn a total of 150 semester or 225 quarter credits of college-level education

         • • These credits must include 36 quarter hours in upper-level accounting courses and 36 quarter hours in additional accounting or accounting-related courses. 

       • Earn a bachelor's degree from an accredited University

  2. Pass 4 sections of the CPA exams with a score of 75% or above: 

     • • In order to take the CPA exams, you must have your bachelor's degree, 36 quarter hours in upper level accounting, and 36 quarter hours in additional accounting or accounting-related courses. 

       • The CPA exams are broken out into 4 separate sections, which can be taken in any order:

         • • Core exams (all required):

             • • AUD: Audit & Attestation

               • FAR: Financial Accounting and Reporting

               • REG: Taxation and Regulation

           • Candidates choose between one of the following disciplines for their fourth exam: 

             • • BAR: Business Analysis and Reporting

               • ISC: Information Systems and Controls

               • TCP: Tax Compliance and Planning

  3. Pass the Oregon Board of Accountancy Ethics Exam

  4. Work for a minimum of 12 months full-time employment or a total of 2,000 hours under the active supervision of a licensed CPA.

     • • Work experience is required to meet a few different competencies. Refer to the Oregon Board of Accountancy's website for further details.
         
         

For more details regarding the requirements to become a licensed CPA in Oregon, please visit the Oregon Board of Accountancy's website.

Educational Requirements for the CPA Exam and CPA License

Educational Requirements for the CPA Exams: 

1. Bachelor’s degree from an accredited college or university (this degree does not have to be in accounting).

2.  Your coursework must include 36 quarter hours in upper division accounting, which at PSU includes the following courses:

   • •  Accounting core course required for bachelor's and post-bacc:

       • • ACTG 335 – Accounting Information Systems (4 credits)

         • ACTG 360 – Management Accounting (2)

         • ACTG 381, 382, 383 – Financial Accounting and Reporting (12)

         • ACTG 395 – Taxation (4) -previously listed as ACTG 421

         • ACTG 430 – Governmental and Not-for-Profit Accounting (2)

         • ACTG 492 – Auditing Concepts and Practices (4) 

         • ACTG 495 – Integrated Accounting Issues (4)

     • Accounting electives (1 required for bachelor's, 2 required for post-bacc): 

       • •  ACTG 407 – Accounting Analytics (4)

         • ACTG 407 – Advanced Not-for-Profit Accounting (2)

         • ACTG 407 – Seminar: Tax Research (4)

         • ACTG 416 – IT Cybersecurity and Compliance (4)

         • ACTG 422 – Advanced Taxation (4)

         • ACTG 445 – Forensic Accounting (4)

         • ACTG 485 – Business Law (4)

         • ACTG 490 – Advanced Financial Accounting (4)

         • ACTG 493 – Advanced Auditing (4)

3.  Your coursework must also include 36 quarter hours in additional upper division accounting or business courses at the 200 level or above, which at PSU includes the following courses:

   • • • • All accounting courses listed above

         • ACTG 404 - Accounting Internships (limited to 18 credits by the Oregon Board of Accountancy)

         • Business Law, Economics, Management, Marketing, Finance, Business Communication*, Statistics, Data Analytics. 

           • • *Business communication: whether taken in the business school or in another college or university program, such as English, Speech Communications, or other courses designed to improve a student's communication skills.

Educational Requirements for the CPA License:

1. All of the educational requirements listed above, and

2. Total of 225 quarter or 150 semester credits 

Students with International Credits:

If you have a degree earned outside of the US or a substantial amount of international educational credits that you plan to use towards your CPA eligibility, you will likely be required to complete an International Evaluation of your transcripts by NASBA.

For more information, see nasba.org/products/nasbainternationalevaluationservices/

Pathways to Earn 225 Quarter Credits

To become a fully licensed CPA, the Oregon Board of Accountancy requires that you earn 225 quarter credits. Most bachelor's degrees require that you earn 180 quarter credits, leaving students with an additional 45 credits to earn before they become a CPA. If you are unsure of how to earn 225 quarter credits, here are a few pathways to consider: 

• Add a double major to your accounting degree (recommend Finance or Business, Technology, & Analytics)

• Take additional electives (recommend utilizing internship credits through ACTG 404)

• Enroll in the Master of Taxation program at PSU: 1 year program, $3,000 scholarship automatically awarded to PSU alums. 

  • • 4+1 Master of Taxation Pathway program: Save money on your master’s by beginning coursework during your senior year.  An additional  $1,500 scholarship awarded to PSU students in their senior year.

• Enroll in the Master of Science in Finance at PSU: 1 year program, $3,000 scholarship automatically awarded to PSU alums

  • • 4+1 MSF Pathway program: Save money on your master’s by beginning coursework during your senior year.

• Enroll in the Master of Science in Applied Data Science for Business at PSU: 1 year program, $3,000 scholarship automatically awarded to PSU alums

Preparing to take the CPA Exams

• Apply to take the exams through NASBA once you have met the educational requirements for the exams. Plan for NASBA to take at least 4 weeks to process your application. For more information on the exam fees and the materials required for your application, click here. 

• Once your application is approved, NASBA will provide you with an "NTS" (Notice to Sit) for the exams that you paid for. This is essentially the permission slip that lets you schedule your exam at the Prometric testing center closest to you. Your NTS is typically valid for 6 months. 

• To study for the CPA exams, you'll need to purchase a CPA exam review program. There are multiple companies that offer CPA exam reviews, with prices for all four exams ranging between $800-$3,800.  Many public accounting firms directly pay for or reimburse the cost of the review programs. 

  • • These programs typically include an exam review book, recorded online lectures, practice problems, and practice exams. 

    • Most programs also have a built-in planner tool that assists you with planning your study schedule. 

    • The most popular review providers are Becker and UWorld (formerly Roger). 

      • • • PSU provides a limited number of 50% off scholarships for Becker's Review Program for students who are not being reimbursed for the materials from their employer. The application link for the 2023-2024 academic year will be posted in Winter term. 

• Be gentle with yourself while studying for the CPA exams. It is not uncommon to start off with scores between 50-60% when you begin your practice problems. As you study, you'll continue to increase your homework scores. Remember that you just need a 75% to pass the exam.

• Once you plan a study schedule for your exam, schedule your exam date to ensure that the testing center has availability.