In Oklahoma, 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 Oklahoma, 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 Oklahoma 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 Oklahoma. CPAs are accounting, finance, and taxation experts, providing valuable services to individuals, businesses, non-profit organizations, and government agencies.
In Oklahoma, CPAs are licensed and regulated by the Oklahoma Board of Accountancy, ensuring that they adhere to strict professional and ethical standards. CPAs in Oklahoma 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
- Oklahoma 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, Oklahoma 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 Oklahoma, 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 Oklahoma CPAs provide their clients with the highest service and expertise.
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How to Become a CPA in Oklahoma
Suppose you’re considering becoming a CPA in Oklahoma. 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 Oklahoma is to complete the necessary education requirements. The Oklahoma 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 Oklahoma, 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 Oklahoma 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 Oklahoma-specific ethics courses, so check with the Oklahoma Board of Accountancy for any unique requirements.
Here is the coursework breakdown for becoming a CPA in Oklahoma.
| 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 Oklahoma 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 Oklahoma.
CPA Exam Application Process
To apply for the CPA Exam in Oklahoma, 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 Oklahoma CPA exam application costs $774 (4 exam sections) + $75 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 Oklahoma must fulfill an experience requirement to become licensed. The Oklahoma 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 Oklahoma 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 Oklahoma Board of Accountancy.
Step 4: Pass The Oklahoma Ethics Exam
Candidates must also pass an ethics exam before becoming a licensed CPA in Oklahoma. The Oklahoma 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 Oklahoma 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 Oklahoma 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 Oklahoma.
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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 Oklahoma 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 Oklahoma, 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 Mississippi
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- Become a CPA in Nebraska
- Become a CPA in Nevada
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- Become a CPA in New Jersey
- Become a CPA in New Mexico
- Become a CPA in New York
- Become a CPA in North Carolina
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- Become a CPA in Ohio
- Become a CPA in Oklahoma
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- Become a CPA in Rhode Island
- Become a CPA in South Carolina
- Become a CPA in South Dakota
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- 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 Oklahoma
One of the most important things to consider when starting a career as a CPA in Oklahoma is education. Obtaining a bachelor’s degree in accounting is typically the first step towards becoming a CPA. While attending a prestigious university or college may seem like the best option, it’s worth considering more affordable alternatives such as community colleges or online programs. These options can be just as valuable in terms of education and accreditation while being significantly more cost-effective.
Once you have completed your education, the next step is to pass the CPA exam. The exam itself can be quite costly, with fees for each of the four sections, study materials, and preparatory courses adding up quickly. To save money on exam expenses, consider investing in used study materials, joining study groups with fellow CPA candidates, or taking advantage of free or low-cost online resources. Additionally, it’s important to budget and plan ahead for exam fees to avoid any last-minute financial stress.
After passing the CPA exam, the next step is to meet the experience requirements for licensure in Oklahoma. This typically involves working under a licensed CPA for a certain number of hours or years. While gaining this experience is crucial for your career, it’s important to consider the financial implications. Look for opportunities to gain experience through internships, part-time positions, or volunteer work to minimize the impact on your finances.
Once you have met all the education, exam, and experience requirements, the final step is to apply for licensure as a CPA in Oklahoma. This process involves paying an application fee, as well as meeting any ongoing continuing education requirements. To save money on licensing and continuing education costs, consider joining professional organizations that offer discounts on fees and resources, attending free or low-cost webinars and workshops, or utilizing employer-sponsored education programs.
In addition to education and licensing costs, it’s important to consider the ongoing expenses associated with being a CPA in Oklahoma. This may include professional liability insurance, software and technology upgrades, continuing education courses, and networking events. To save money on these expenses, consider comparing prices and shopping around for the best deals, taking advantage of discounts offered by professional organizations, and budgeting for these costs ahead of time.
In conclusion, while becoming a CPA in Oklahoma can be a significant financial undertaking, there are ways to save money and minimize expenses along the way. By carefully considering your education options, budgeting for exam and licensing fees, seeking out cost-effective experience opportunities, and being proactive about ongoing expenses, you can achieve your goal of becoming a CPA while staying financially responsible. Remember, a little extra planning and effort upfront can lead to long-term financial savings and success in your career as a Certified Public Accountant.
Conclusion
Becoming a CPA in Oklahoma 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 Oklahoma and making a significant impact in finance.