In Mississippi, 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 Mississippi, 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 Mississippi 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 Mississippi. CPAs are accounting, finance, and taxation experts, providing valuable services to individuals, businesses, non-profit organizations, and government agencies.
In Mississippi, CPAs are licensed and regulated by the Mississippi Board of Accountancy, ensuring that they adhere to strict professional and ethical standards. CPAs in Mississippi 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
- Mississippi 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, Mississippi 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 Mississippi, 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 Mississippi CPAs provide their clients with the highest service and expertise.
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How to Become a CPA in Mississippi
Suppose you’re considering becoming a CPA in Mississippi. 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 Mississippi is to complete the necessary education requirements. The Mississippi 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 Mississippi, 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 Mississippi 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 Mississippi-specific ethics courses, so check with the Mississippi Board of Accountancy for any unique requirements.
Here is the coursework breakdown for becoming a CPA in Mississippi.
| 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 Mississippi 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 Mississippi.
CPA Exam Application Process
To apply for the CPA Exam in Mississippi, 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 Mississippi CPA exam application costs $774 (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 Mississippi must fulfill an experience requirement to become licensed. The Mississippi 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 Mississippi 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 Mississippi Board of Accountancy.
Step 4: Pass The Mississippi Ethics Exam
Candidates must also pass an ethics exam before becoming a licensed CPA in Mississippi. The Mississippi 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 Mississippi Board of Accountancy. Candidates must apply, pay $200 initial license fee, $200 annual renewal, and document their education, examination scores, work experience, and ethics exam completion.
After the Mississippi 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 Mississippi.
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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 Mississippi 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 Mississippi, 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 Alabama
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- Become a CPA in Connecticut
- Become a CPA in DC
- Become a CPA in Delaware
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- Become a CPA in Georgia
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- Become a CPA in Indiana
- Become a CPA in Iowa
- Become a CPA in Kansas
- Become a CPA in Kentucky
- Become a CPA in Louisiana
- Become a CPA in Maine
- Become a CPA in Maryland
- Become a CPA in Massachusetts
- Become a CPA in Michigan
- Become a CPA in Minnesota
- Become a CPA in Mississippi
- Become a CPA in Missouri
- Become a CPA in Montana
- Become a CPA in Nebraska
- Become a CPA in Nevada
- Become a CPA in New Hampshire
- Become a CPA in New Jersey
- Become a CPA in New Mexico
- Become a CPA in New York
- Become a CPA in North Carolina
- Become a CPA in North Dakota
- Become a CPA in Ohio
- Become a CPA in Oklahoma
- Become a CPA in Oregon
- Become a CPA in Pennsylvania
- 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 Mississippi
First and foremost, it’s essential to create a budget and stick to it. Before starting your CPA journey, sit down and carefully calculate all of the anticipated expenses, including exam fees, study materials, and any additional costs such as review courses or tutoring. By outlining your anticipated costs upfront, you can better prepare financially and prevent any unexpected financial surprises along the way.
Another way to save money while becoming a CPA in Mississippi is to take advantage of available resources and discounts. Many review courses offer discounts or promotions for students, so be sure to shop around and compare prices to find the best deal. Additionally, there are numerous free or low-cost study resources available online, such as practice exams, study guides, and video lectures. By utilizing these resources, you can supplement your study materials without breaking the bank.
When it comes to studying for the CPA exams, it’s essential to be efficient and focused. While it may be tempting to purchase all of the latest study materials and resources, remember that expensive does not always equate to better quality. Take the time to research different study materials and choose those that best align with your learning style and budget. Additionally, be diligent in your studying and make the most of your time by creating a study schedule and sticking to it. By being disciplined in your study habits, you can maximize your learning potential and reduce the need for costly review courses or tutoring.
Networking can also be a valuable tool in saving money while becoming a CPA in Mississippi. Connect with other aspiring accountants or current CPAs to share study materials, tips, and advice. By building a strong network of peers, you can lean on each other for support and potentially save money by pooling resources. Additionally, consider attending networking events or industry conferences to make valuable connections and learn from experienced professionals in the field. By leveraging your network, you can gain valuable insights and resources to help you succeed on your CPA journey.
In conclusion, pursuing a CPA certification in Mississippi is undoubtedly a significant investment of both time and money. However, by being proactive, budget-conscious, and resourceful, you can save money while still achieving your goals. With careful planning, efficient studying habits, and networking with peers, you can navigate the financial challenges of becoming a CPA and set yourself up for success in your accounting career.
Conclusion
Becoming a CPA in Mississippi 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 Mississippi and making a significant impact in finance.