New York - Become a CPA
If your goal is to become a CPA in New York you've made a wise choice: while the 10 year national projected job growth for CPAs is 10 percent in New York it's projected at a robust 21 percent. That said; there are student rules to become a New York CPA. Your first step should be to verify your program is accredited by the State Department of Education or the New York State Board of Regents before you begin so you know your education will be accepted.
Education Requirements to become a Licensed NY CPA
The educational requirements to become licensed are very specific. One of the first steps is to obtain a Bachelor's degree and complete a minimum of 150 college level credit hours including 33 hours in accounting courses and 36 hours of business courses. Each of these requirements must be fulfilled as follows and all classes must be above the introduction level:
The 33 hours of accounting courses must be from the following subjects:
Accounting information systems
Auditing and attestation services (must be earned from junior, senior, or graduate level; also satisfies the Ethics and Professional Responsibilities requirement. Minimum one course required)
Cost or managerial accounting (may be earned at a community college, minimum one course required)
Financial accounting and reporting (junior, senior, or graduate level, minimum one course)
Fraud examination
Internal controls and risk assessment
Taxation (may be earned at a community college; also satisfies the Accounting Research requirement; minimum one course required)
Each required subject has a wide range of course titles to choose from so you can customize your study to the area of accounting in which you plan to practice. Here are some course examples of each area of accounting study:
Financial accounting and reporting:
Accounting for governmental and nonprofit purposes
Accounting principles
Advanced accounting
Accounting theory
Corporate financial reporting
Financial accounting
Financial reporting
Financial statement analysis
Intermediate accounting
Principles of accounting
Cost or managerial accounting:
Advanced cost management
Cost accounting
Cost management
Managerial accounting
Taxation
Advanced taxation
Basic taxation
Business taxation
Corporate taxation
Individual taxation
International taxation
Taxation of business entities
Auditing and attestation services:
Advanced auditing
Auditing
Auditing and assurance services
Auditing and attestation
Principles of auditing
Accounting research:
Accounting research
Accounting theory
Auditing
Corporate taxation
Individual taxation
Tax research
The 36 hours of general business courses must be a combination of the following subjects:
Business law
Business statistics
Business strategy
Computer science
Economics
Finance
Information technology and systems
Management
Marketing
Operations management
Organizational behavior
Quantitative methods
In addition, these two specific subjects are required and may come from the business areas or may be taken from the Liberal Arts department:
Ethics and Professional Responsibilities
Business and Accounting Communications
The Ethics and Professional Responsibilities requirement can be met with a class such as:
Business ethics
Business law
Commercial law
Samples of classes that will meet the Business and Accounting Communications are:
Accounting communications
Business communications
Business writing
International business communications
Managerial communications
Professional speaking
Once you have your Bachelor's degree and have met the educational requirements you will be eligible to sit for the CPA exam, which is your next step to becoming a licensed New York CPA.
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How to Apply for the New York State CPA Exam
The New York CPA exam is overseen by the National Association of State Boards of Accountancy (NASBA) so your first step will be to register an account with the association, which you can do online using a credit card. If you're not sure whether you meet the academic requirements they offer an Advisory Evaluation; otherwise you'll need to submit your application and applicable fees as well as your school transcripts. Transcripts must be submitted directly from your school or schools to CPA Examination Services (CPAES) and NASBA allows 45 days for the process. If you need special accommodations due to disability you should submit the request at this time, too. Once all documentation is received you'll receive an acknowledgement of completion via email and within two to four weeks your application will be processed.
1. Fees
The CPA exam consists of four parts that can be taken individually or all at once. You'll need to score at least 75 percent on each section and may take a failed section again but must pass all four sections within an 18-month time frame. Besides the initial application fee there is a fee for each test section as well as a registration fee to sit for the exam. The test sections and fee structure is as follows:
Application fee: $150.00
Examination Fees:
Auditing and Attestation (AUD): $208.40
Business Environment and Concepts (BEC): $208.40
Financial Accounting and Reporting (FAR): $208.40
Regulation (REG): $208.40
Because the registration fee is for the testing facility it is the same amount whether you register for one test section or all four. You should plan to only register for the test sections you can complete within a six month time frame:
1 examination section: $75.00
2 examination sections: $75.00
3 examination sections: $75.00
4 examination sections: $75.00
If you fail one or more sections of the test you will be required to pay an additional testing fee as well as a registration fee but not the application fee.
2. How to sit for the New York CPA exam
Once your application is complete, all fees are paid, and your application has been processed you'll receive a Notice to Sit (NTS). You're required to show the NTS in order to be admitted to the exam location so keep it in a safe place.
New York CPA exams are given at Prometric Test Centers which are located throughout New York City as well as Albany, Buffalo, Poughkeepsie, Rochester, and Rye. Once you receive your NTS you'll schedule your exams via the Prometrics website.
You should plan to arrive at the testing site about an hour before your scheduled testing time. You'll be required to show a valid photo identification as well as your NTS to enter the exam and will be allowed no other personal items during the test. Prometrics will supply a secure locker for your other personal items.
Each exam section is allotted four hours to complete. Both AICPA and NASBA offer resources to help you practice for the test sections and you should plan to study hard before attempting the test.
You'll receive your scores anywhere for 48 hours to two weeks after the exam; Prometrics will have a schedule posted to let you know when scores will be available.
Required Experience
Once you've successfully passed all four sections of the New York CPA exam you'll need to meet the experience requirements before you're eligible for licensure. New York requires one year of full-time experience working between 35 and 40 hours a week under the guidance of a licensed CPA. Alternatively you can work part-time at least 20 hours per week with two weeks being counted as one week for the year requirement.
Your work experience must meet specific requirements, too. It must involve the practice of accounting consultation or services using skills related to:
Accounting
Auditing and attestation
Compilation
Financial or tax consulting
Management advisory services
The work must be documented and performed under the supervision of a licensed CPA or New York licensed accountant; it can be performed at a range of industries such as:
An educational institution
A government agency
A private industrial firm
A private organization
A public accounting firm
Once your work experience is met you'll fill out a Certification of Employer form and give it to your employer. Your employer in turn will fill out their required sections and submit it directly to the New York State Board of Education for processing. If you've had more than one employer while gaining your year of experience you'll need to submit a separate form for each employer.
New York Licensing Requirements
Besides the educational, exam, and work requirements in New York you must be at least 21 years old and of good moral character to apply for your CPA license. The license application fee is $377 and must be submitted with your application; if there is an interim raise in fee amount you will be billed for the balance.
Your application will request all of your pertinent personal information as well as any criminal history or current charges. You must have the form notarized before submission and your work experience forms should be included with the application; your educational and exam requirements should already be on file with the state via your NASBA application. Once your completed application is processed You'll receive your certificate and become a certified public accountant in New York state.
Renewal and Continuing Education
In New York you'll need to renew your CPA license every three years. During the first renewal cycle you won't be required to complete any professional continuing education (CPE) but after the first renewal you'll be required to complete the following CPE each year of the three-year period:
A minimum of 40 hours of formal education in the accepted subjects or a minimum of 24 hours of accepted formal education in a single accepted subject.
The following activities are considered as CPE:
Taking a live CPE course within the state
Taking a live CPE course outside the state that is presented by a NASBA approved provider
Completing a self-study course by a New York registered provider
Preparing and teaching a sponsored CPE college course (first time only)
Authoring an article that is published in a journal
Publishing a book in a CPE subject area
Approved subjects for CPE requirements are:
Accounting
Auditing
Advisory Services
Attestation
Specialized knowledge and applications pertaining to specialized industries
Taxation
Four hours of continuing education in professional ethics must be included in each three-year window, with credit given to the annual period in which the course was completed.
You will be required to maintain detailed records of your CPE work so you should verify the following as you complete each course:
The title of the course
The sponsor's name
The sponsor's New York ID number
The name of the program
The course subject area
The number of CPE credits awarded
The date and location of the course
You are required to retain your CPE records for a five-year period so it's a good idea to set up a file system for CPE as soon as you receive your New York CPA license.
One of the most typical misunderstandings that you will certainly find when you search for CPAs is that CPA certificate requirements by state coincide. This is not the situation at all.
As an example, there are numerous other state licensing regulations that you will certainly require to end up being a Cpa. Additionally, your licensing requirements by state are not the like a person that has actually come to be a Certified Public Accountant. Some of the needs vary from state to state and differ from one jurisdiction to an additional.
These differences are very important due to the fact that it would be difficult for any kind of state to verify your certification condition if the info was not up to date. For this reason, it is best to become a CPA with some understanding of the various state laws that you require to fulfill as well as pass.
A CPA degree is one means of getting a wide variety of information about the various CPA needs in your state. Many states need that you pass a created examination, an emotional examination, as well as a physical test. All of these examinations will certainly help to figure out whether you can handle the task.
You would also like to know what the state policies are regarding the area of accounting. Nevertheless, a CPA can make numerous bucks every year. He or she needs to be educated concerning the state laws worrying the various accounting kinds and also structures that the state needs its accountants to be familiar with.
Of course, the states do not just cover the standard matters of accounting. Each state additionally has its own set of financial controls, legal policies, and organisation methods. You will certainly wish to come to be accustomed to the different state laws so that you are prepared to meet them when you look for the CPA position that you are requesting.
If you want to end up being a CPA and also are already employed in a firm, it is essential to come to be acquainted with every one of the accountant settings in the firm. If you have actually been helping a firm for rather a long time and also have no experience in this field, after that you ought to end up being knowledgeable about each of the various accounting placements.
These CPA license needs by state will certainly vary relying on what sort of organisation you are running. If you run a local business that only requires an accountant, you should take into consideration becoming a State-licensed accountant. If you are running a big company, however, you will certainly require to end up being an independent accountant.
You will need to take a CPA test to become an independent. You will intend to obtain the CPA exam to develop on your own as an independent CPA in the eyes of individuals in business. It is your credentials that will certainly carry you with the CPA work demands.
Lots of firms will also require that you undergo a review process before they hire you as an accountant. As soon as you have actually passed the review process, you can end up being a CPA.
You must keep in mind that the work duties will vary from one state to another. The work obligations of a State-licensed accountant will vary from state to state. Actually, the two major task responsibilities are based on the state regulation that has been passed by the state.
Although it might appear hard to understand what the CPA certificate needs by state, you will locate it less complicated to get this info after you become a CPA. You can then use these details when you consider the various state demands for ending up being a CPA.
If you're intending to boost your making possible, end up being a senior-level professional or work at a huge firm, you should certainly invest your time and also power right into getting your CPA authorization. Cpa licenses are provided at the state degree, so requirements to end up being a CPA vary by state. Overall, there are 4 major requirements to wind up being a CPA.These are the total demands, yet once more, these differ by state.
Bachelor Online BS-Accounting and also a BS-Accounting CPA Course Bachelor Online AS along with BS in Audit with emphasis of Cash or Forensic Accounting Bachelor Online Bachelor's of Scientific research in Bookkeeping Bachelor Partner's and likewise Bachelor's Level Programs Master Online MBA Accounting along with Finance Self-Designed Master Online Master of Book-keeping Master Online MBA as well as MS in Bookkeeping with numerous emphasis selections Master Master's in Bookkeeping.
In order to end up being licensed as a CPA, The gold state requires candidates to complete advised job experience. You need to complete twelve month of standard accounting experience as well as also 500 human resources of affirm experience. The basic book-keeping experience needs to be as follows: Involve taking advantage of consulting, tax commitment, financial advisory, management advisory, collection, prove or accounting abilities Be obtained with work in government, personal market or public market.
The basic book-keeping experience ought to be tape-recorded. If earned in public audit, it needs to be tape-recorded on the Accreditation of General Experience Public Audit Kind. A recognized Certified Public Accountant needs to supervise the job as well as additionally authorize this record. If gained in private market or federal government accounting, it needs to be tape-recorded on the Certification of General Experience Non-Public Bookkeeping Kind.