In Idaho, 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 Idaho, 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 Idaho 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 Idaho. CPAs are accounting, finance, and taxation experts, providing valuable services to individuals, businesses, non-profit organizations, and government agencies.
In Idaho, CPAs are licensed and regulated by the Idaho Board of Accountancy, ensuring that they adhere to strict professional and ethical standards. CPAs in Idaho 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
- Idaho 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, Idaho 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 Idaho, 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 Idaho CPAs provide their clients with the highest service and expertise.
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How to Become a CPA in Idaho
Suppose you’re considering becoming a CPA in Idaho. 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 Idaho is to complete the necessary education requirements. The Idaho 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 Idaho, 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 Idaho 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 Idaho-specific ethics courses, so check with the Idaho Board of Accountancy for any unique requirements.
Here is the coursework breakdown for becoming a CPA in Idaho.
| 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 Idaho 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 Idaho.
CPA Exam Application Process
To apply for the CPA Exam in Idaho, 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 Idaho CPA exam application costs $743.60 (4 exam sections) + $150 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 Idaho must fulfill an experience requirement to become licensed. The Idaho 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 Idaho 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 Idaho Board of Accountancy.
Step 4: Pass The Idaho Ethics Exam
Candidates must also pass an ethics exam before becoming a licensed CPA in Idaho. The Idaho 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 Idaho Board of Accountancy. Candidates must apply, pay $100 initial license fee, $95 biennial renewal, and document their education, examination scores, work experience, and ethics exam completion.
After the Idaho 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 Idaho.
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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 Idaho 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 Idaho, 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 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 Idaho
One of the biggest expenses on the road to becoming a CPA is obtaining the necessary education. Whether you choose to pursue a bachelor’s or master’s degree in accounting, this can be a substantial financial investment. To save money on your education, consider starting at a community college or attending an online program. Community colleges often offer more affordable tuition rates, and online programs can allow you to continue working while pursuing your degree. Additionally, don’t overlook the option of applying for scholarships, grants, or student loans to help offset the costs.
Once you’ve obtained your degree, the next step is to pass the CPA exam. Preparation courses for the exam can come with a hefty price tag, but there are ways to save money here as well. Look for free or low-cost study materials online, such as practice exams and study guides. You can also reach out to local accounting firms or professionals for advice on how to best prepare for the exam without breaking the bank.
After passing the exam, you’ll need to fulfill the experience requirements to become licensed as a CPA in Idaho. Working for a large accounting firm can offer many advantages, but it may not always be the most cost-effective option. Consider starting your own practice or working for a smaller firm where you may have more flexibility and a better work-life balance. This can not only save you money on commuting and work-related expenses but also give you valuable hands-on experience as you work towards becoming a licensed CPA.
Setting up your own practice as a CPA in Idaho can also be a significant financial endeavor. To save money on office space and equipment, consider starting out as a home-based business or renting a shared workspace. This can help reduce overhead costs and allow you to focus on building your client base without the added pressure of sky-high rent or mortgage payments.
In addition to saving money on education, exam preparation, and practice setup, there are other ways to be savvy with your finances as you embark on your journey to becoming a CPA in Idaho. Look for networking opportunities where you can connect with other accounting professionals and learn from their experiences. Join professional organizations or attend conferences and seminars to stay current on industry trends and best practices.
While becoming a CPA in Idaho may require an initial investment of time and money, there are ways to save and be smart with your finances along the way. By taking a strategic approach to your education, exam preparation, work experience, and practice setup, you can achieve your goal of becoming a CPA without breaking the bank. Remember, success as a CPA is not just about how much money you spend, but how wisely you invest in your future.
Conclusion
Becoming a CPA in Idaho 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 Idaho and making a significant impact in finance.