How to Become a CPA: Requirements, Exam Prep and More

Becoming a Certified Public Accountant (CPA) requires a significant commitment of time and effort. Candidates must fulfill education and experience requirements before passing four rigorous exam sections. However, earning a CPA credential can lead to a rewarding and lucrative career in accounting, auditing and forensic accounting. 

Below, we outline the steps to becoming a CPA, including exam requirements, study strategies and key areas of focus. 

Steps to Meeting CPA Requirements

Becoming a CPA involves multiple steps beyond passing the exam. Understanding these steps can help candidates efficiently navigate the process: 

1. Complete education requirements: Candidates must fulfill the minimum educational criteria to qualify for the exam. Exact requirements vary by state but typically include a bachelor’s degree and at least 150 college credits. 
2. Gain professional experience: Many states require one year of work experience to be eligible to sit for the exam. This is often gained through internships or employment. 
3. Apply for the CPA exam: Candidates must fill out an application to sit for the exam. This should be submitted within six months of when they plan to take the exam. 
4. Prepare for the exam: Thorough preparation using study tools and review materials is essential. (Keep reading for tips!) 
5. Pass all exam sections: Candidates must achieve a passing score of 75 or higher on all four sections of the exam. 
6. Apply for CPA certification: After passing all exam sections, candidates must apply to their state’s board of accountancy for certification. 

Eligibility and Educational Requirements

To take the Uniform CPA Exam, candidates must meet their state’s specific requirements. In most states, this includes completing at least 150 credits of education before earning a CPA certificate. Since a standard bachelor’s degree typically covers only 20 credits, many aspiring CPAs pursue a master’s degree to meet the requirements and gain deeper accounting knowledge.

Many states also require at least 24 credits of advanced accounting courses to qualify for the exam. To become certified, candidates typically need 48 total credits in accounting and business-related subjects, though only a small portion (usually six credits) can come from internships or work experience.

Additionally, most states require at least one year of professional accounting experience, and paid internships often count toward this requirement. 

Key Focus Areas When Studying for the CPA Exam

Once candidates meet the educational and experience prerequisites, they must prepare for the CPA exam. The American Institute of Certified Public Accountants (AICPA) regularly updates the exam to reflect changes in accounting standards and industry practices. These updates are based on the CPA Exam Blueprints, which outline the topics and skills assessed in each section. 

Staying current with evolving accounting regulations is crucial for success. Candidates should focus on mastering financial reporting, tax laws, auditing procedures, and regulatory compliance. 

Breakdown of CPA Exam Sections

The CPA exam consists of four sections, totaling up to 16 hours of testing time: 

• Auditing and Attestation (AUD): Covers audit procedures, internal controls, and financial statement evaluations. 

• Financial Accounting and Reporting (FAR): Tests knowledge of financial statement standards, government and nonprofit accounting, and reporting frameworks. 

• Taxation and Regulation (REG): Focuses on business ethics, tax laws, and regulatory compliance. 

• Discipline Section (Candidates Choose One): 

• Business Analysis and Reporting (BAR): Emphasizes financial analysis and reporting. 

• Information Systems and Controls (ISC): Covers IT systems, data security, and risk management. 

• Tax Compliance Planning (TCP): Focuses on tax strategy, compliance, and planning. 

Study Tools for the CPA Exam

Utilizing effective study tools can significantly enhance exam performance. The best approach depends on an individual's learning style and prior knowledge. Recommended resources include: 

• CPA review books: Updated materials with practice exams and answer explanations. 

• Online courses & video lectures: Comprehensive instruction covering all exam topics. 

• Interactive CPA prep platforms: Adaptive learning tools to reinforce key concepts. 

• Exam simulations & practice questions: Exposure to exam formats and question styles. 

Regardless of the preferred method of studying for the CPA exam, devoting some time to becoming familiar with the format and adopting some time management strategies can drastically improve performance. 

CPA Retesting and Certification

Historically, the CPA exam has a rather low pass rate – typically between 45-55%. Retaking sections is common, and candidates can reattempt a failed section in the next exam window. However, all four sections must be passed within 30 months to avoid retaking previously passed exams. 

Some states also impose deadlines between passing the CPA exam and applying for certification. To ensure compliance, candidates should plan their certification application well in advance. 

Advancing Your Career with a Master’s Degree in Accounting

Earning a CPA certification opens doors to exciting career opportunities in accounting, auditing, and forensic accounting. For those looking to further enhance their expertise and improve their exam preparedness, The University of Scranton offers an on-campus and online master’s degree in accounting. The program features advanced coursework in financial reporting, taxation, auditing, and regulatory compliance — essential skills for CPA exam success. 

By pursuing a Master of Accountancy at The University of Scranton, students gain the specialized skills needed to excel in high-level accounting roles while positioning themselves for CPA certification. 

For more details on the program and how it aligns with your career goals, visit The University of Scranton’s MAcc program page.