In Florida, becoming a Certified Public Accountant (CPA) is a rewarding and fulfilling career path for those interested in finance, accounting, or aspiring Limited Liability Company owners. CPAs are in high demand and enjoy lucrative salaries, job security, and growth opportunities. In Florida, as in any other state, aspiring CPAs must fulfill certain educational, experience, and examination requirements to become licensed. This comprehensive guide will walk you through the steps to Becoming a CPA in Florida and provide valuable tips and resources to help you succeed.
Webinarcare Editorial Team will help you gain knowledge through thorough research and market study. Before you become a CPA, all the steps in this article must guide you.
On this page, you’ll learn about the following:
What is a CPA?
A CPA, or Certified Public Accountant, is a professional accountant who meets the educational, examination, and experience requirements to become licensed in Florida. CPAs are accounting, finance, and taxation experts, providing valuable services to individuals, businesses, non-profit organizations, and government agencies.
In Florida, CPAs are licensed and regulated by the Florida Board of Accountancy, ensuring that they adhere to strict professional and ethical standards. CPAs in Florida offer a range of services, including but not limited to:
- Tax planning and preparation for individuals, LLCs, and corporations
- Financial statement preparation and analysis
- Auditing and assurance services
- Florida Business Consulting
- Internal control and risk management
- Forensic accounting and fraud investigation
As a CPA, one can work in various sectors, including public accounting firms, Florida Corporations, government agencies, non-profit organizations, or as a self-employed professional. Regardless of the specific role, a CPA has the necessary knowledge, skills, and expertise to help clients navigate the complexities of financial management and make informed decisions.
To maintain their CPA license in Florida, CPAs must also adhere to continuing professional education (CPE) requirements, ensuring that they stay up-to-date with current accounting standards, tax regulations, and industry best practices. This ensures Florida CPAs provide their clients with the highest service and expertise.
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How to Become a CPA in Florida
Suppose you’re considering becoming a CPA in Florida. In that case, it’s important to understand the steps and requirements involved in obtaining your license and starting your professional journey. This step-by-step guide will walk you through becoming a CPA.
Step 1: Fulfill The Educational Requirements
The first step to becoming a CPA in Florida is to complete the necessary education requirements. The Florida Board of Accountancy requires CPA candidates to hold a bachelor’s degree or higher from an accredited college or university. Additionally, candidates must complete 150 semester hours of college education, including specific coursework in accounting and business.
Accounting Coursework
In Florida, CPA candidates must complete at least 24 semester hours in accounting courses, including:
- Financial Accounting
- Managerial Accounting
- Auditing
- Taxation
- Accounting Information Systems
- Governmental or Not-For-Profit Accounting
It is important to note that introductory accounting courses may not be counted towards the 24-hour requirement.
Business Coursework
In addition to accounting courses, CPA candidates in Florida must also complete at least 24 semester hours in business-related courses, such as:
- Business Law
- Economics
- Finance
- Management
- Marketing
- Statistics
Some states also require specific coursework, such as Florida-specific ethics courses, so check with the Florida Board of Accountancy for any unique requirements.
Here is the coursework breakdown for becoming a CPA in Florida.
| Accounting Coursework | Business Coursework |
| Financial Accounting | Business Law |
| Managerial Accounting | Economics |
| Auditing | Finance |
| Taxation | Management |
| Accounting Information Systems | Marketing |
| Not-For-Profit Accounting | Statistics |
Step 2: Pass The Uniform CPA Examination
After completing the educational requirements, the next step to becoming a CPA in Florida is to pass the Uniform CPA Examination on the NASBA website.
The CPA Exam is a comprehensive, four-part test designed to assess a candidate’s knowledge and skills in accounting and business. The four sections of the CPA Exam are:
- Auditing and Attestation (AUD)
- Business Environment and Concepts (BEC)
- Financial Accounting and Reporting (FAR)
- Regulation (REG)
Each section of the CPA Exam is scored on a scale of 0 to 99, with a passing score of 75 or higher required for each section. The CPA Exam is administered by the American Institute of Certified Public Accountants (AICPA) and is offered at Prometric testing centers throughout the United States and, more specifically, in Florida.
CPA Exam Application Process
To apply for the CPA Exam in Florida, candidates must first create an account with the National Association of State Boards of Accountancy (NASBA). Once an account is created, candidates can submit their applications and send their official college transcripts to NASBA for evaluation. NASBA will then determine the candidate’s eligibility to sit for the CPA Exam based on their education and will provide an Authorization to Test (ATT) once approved. The required fee for the Florida CPA exam application costs $837 (4 exam sections) + $50 application fee.
CPA Exam Scheduling
Once candidates receive their ATT, they can schedule their CPA Exam sections at a Prometric testing center. The CPA Exam is offered during four testing windows throughout the year:
- January 1 – March 10
- April 1 – June 10
- July 1 – September 10
- October 1 – December 10
It is important to note that candidates must pass all four sections of the CPA Exam within an 18-month window, which begins upon passing the first section. If a candidate does not pass all four sections within this time frame, they will lose credit for the oldest passed section and must retake it.
Step 3: Complete The Experience Requirement
In addition to education and examination requirements, CPA candidates in Florida must fulfill an experience requirement to become licensed. The Florida Board of Accountancy requires candidates to complete at least one year (or 2,000 hours) of supervised work experience in accounting, auditing, tax, or management advisory services.
A licensed CPA must supervise the work experience with an active license in Florida or another jurisdiction with substantially equivalent requirements. It is important to note that the experience requirement must be completed within a timeframe of, at most, 36 months.
It is recommended that CPA candidates keep detailed records of their work experience, including dates, hours, tasks, and supervisor information. This documentation will be required when applying for licensure with the Florida Board of Accountancy.
Step 4: Pass The Florida Ethics Exam
Candidates must also pass an ethics exam before becoming a licensed CPA in Florida. The Florida Board of Accountancy may require a specific ethics course and exam, or candidates may be required to take the AICPA Professional Ethics Exam. This self-study course and exam cover ethical reasoning, independence, integrity, objectivity, and professional conduct. Candidates must score 90% or higher on the ethics exam to pass.
Step 5: Apply For Licensure
Once all educational, examination, and experience requirements have been met, CPA candidates can apply for licensure with the Florida Board of Accountancy. Candidates must apply, pay $50 initial license fee, $105 biennial renewal, and document their education, examination scores, work experience, and ethics exam completion.
After the Florida Board of Accountancy reviews and approves the application, candidates will be issued their CPA license and can begin practicing as a Certified Public Accountant in Florida.
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How Much Does a CPA Make?
The salary of a Certified Public Accountant (CPA) can vary greatly depending on factors such as years of experience, industry, company size, and job location. The average salary range for a CPA in Florida is between $60,000 and $120,000 annually.
Entry-level CPAs with less than one year of experience can expect to earn an average salary of around $50,000 to $60,000 per year. As CPAs gain experience, their earning potential typically increases. Those with five to nine years of experience can earn an average salary of $70,000 to $90,000 per year, while CPAs with more than ten years of experience can earn upwards of $100,000 or more annually.
In Florida, CPAs working in metropolitan areas or specialized industries, such as finance or technology, may command higher salaries than those in smaller cities or industries with lower demand for accounting services.
Additionally, obtaining specialized certifications, such as the Certified Management Accountant (CMA) or Certified Information Systems Auditor (CISA), or pursuing advanced degrees can further increase a CPA’s earning potential in accounting and finance.
FAQs
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- Become a CPA in Delaware
- Become a CPA in Florida
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- Become a CPA in Mississippi
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- Become a CPA in Nevada
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- Become a CPA in Rhode Island
- Become a CPA in South Carolina
- Become a CPA in South Dakota
- Become a CPA in Tennessee
- Become a CPA in Texas
- Become a CPA in Utah
- Become a CPA in Vermont
- Become a CPA in Virginia
- Become a CPA in Washington
- Become a CPA in West Virginia
- Become a CPA in Wisconsin
- Become a CPA in Wyoming
How to Save Money While Starting a Becoming Cpa in Florida
First and foremost, it’s essential for aspiring CPAs to carefully plan and budget for their journey to licensure. This includes researching the costs associated with education, examination, and licensing fees in Florida, as well as any additional expenses such as study materials and review courses. By creating a detailed budget and sticking to it, aspiring CPAs can ensure that they are financially prepared for every step of the process.
One way to save money while becoming a CPA in Florida is to take advantage of cost-effective educational opportunities. This may include enrolling in community college courses or online programs to fulfill the educational requirements needed to sit for the CPA exam. By carefully selecting educational options that are affordable yet still meet the necessary criteria, aspiring CPAs can save money on tuition and other related expenses.
Additionally, aspiring CPAs should consider studying for the CPA exam using free or low-cost resources available online. There are a variety of study materials and practice exams available for little to no cost, which can help reduce the need to purchase expensive review courses. By utilizing these resources effectively, aspiring CPAs can ensure that they are adequately prepared for the exam without breaking the bank.
When it comes to exam fees, aspiring CPAs can save money by registering for the exam early and scheduling their testing date during non-peak times. Many exam administrations offer early registration discounts, as well as lower fees for testing during off-peak seasons. By taking advantage of these cost-saving opportunities, aspiring CPAs can save money on exam fees and reduce the overall financial burden of becoming licensed.
Finally, aspiring CPAs should explore additional ways to save money during the licensure process, such as seeking out scholarships or financial assistance programs specifically for accounting students. Many organizations, universities, and governmental agencies offer scholarships and grants to students pursuing careers in accounting, which can help offset the costs of education and licensure. By researching and applying for these opportunities, aspiring CPAs can make their journey to licensure more affordable and attainable.
In conclusion, while becoming a CPA in Florida may require financial investment, there are several strategies that aspiring CPAs can implement to save money and make the process more manageable. By carefully planning and budgeting, taking advantage of affordable educational opportunities, utilizing free or low-cost study materials, and exploring financial assistance programs, aspiring CPAs can successfully navigate the path to licensure without breaking the bank. With dedication, perseverance, and a strategic approach to saving money, aspiring CPAs can achieve their goal of becoming licensed accountants in Florida while also maintaining financial stability.
Conclusion
Becoming a CPA in Florida requires dedication and hard work, but the rewards are worthwhile. With a strong foundation in education and experience, as well as successful completion of the CPA Exam and ethics exam, aspiring CPAs can enjoy a fulfilling and lucrative career in accounting and finance. By following the steps outlined in this guide, you’ll be well on your way to becoming a licensed CPA in Florida and making a significant impact in finance.