In Oregon, 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 Oregon, 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 Oregon 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 Oregon. CPAs are accounting, finance, and taxation experts, providing valuable services to individuals, businesses, non-profit organizations, and government agencies.
In Oregon, CPAs are licensed and regulated by the Oregon Board of Accountancy, ensuring that they adhere to strict professional and ethical standards. CPAs in Oregon 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
- Oregon 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, Oregon 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 Oregon, 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 Oregon CPAs provide their clients with the highest service and expertise.
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How to Become a CPA in Oregon
Suppose you’re considering becoming a CPA in Oregon. 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 Oregon is to complete the necessary education requirements. The Oregon 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 Oregon, 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 Oregon 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 Oregon-specific ethics courses, so check with the Oregon Board of Accountancy for any unique requirements.
Here is the coursework breakdown for becoming a CPA in Oregon.
| 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 Oregon 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 Oregon.
CPA Exam Application Process
To apply for the CPA Exam in Oregon, 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 Oregon CPA exam application costs $774 (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 Oregon must fulfill an experience requirement to become licensed. The Oregon 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 Oregon 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 Oregon Board of Accountancy.
Step 4: Pass The Oregon Ethics Exam
Candidates must also pass an ethics exam before becoming a licensed CPA in Oregon. The Oregon 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 Oregon Board of Accountancy. Candidates must apply, pay $325 initial license fee, $325 biennial renewal, and document their education, examination scores, work experience, and ethics exam completion.
After the Oregon 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 Oregon.
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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 Oregon 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 Oregon, 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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How to Save Money While Starting a Becoming Cpa in Oregon
First and foremost, it is important to create a budget and prioritize expenses. Take the time to review your financial situation and determine how much you can afford to spend on your CPA journey. Set realistic goals for saving and make a plan for managing your expenses. By being mindful of where your money is going, you can avoid unnecessary costs and stay on track with your budget.
One of the major expenses associated with becoming a CPA is the cost of exam fees. The Uniform CPA Exam, administered by the American Institute of Certified Public Accountants (AICPA), can be quite costly. To save money on exam fees, consider studying smartly and only taking the exam when you feel fully prepared. By investing the time and effort in studying efficiently, you can increase your chances of passing on the first attempt and avoiding the additional costs of retaking the exam.
Another way to save money while starting your journey as a CPA in Oregon is to take advantage of free or low-cost study materials. Utilize resources such as online study guides, practice exams, and study groups to supplement your preparation without breaking the bank. Additionally, explore options for discounted or used textbooks to help reduce the cost of learning materials.
In addition to study expenses, there are other costs to consider when pursuing a CPA license in Oregon, such as application fees and licensure requirements. To save money on application fees, make sure to submit your application early and take advantage of any available discounts or waivers. Additionally, be proactive in fulfilling licensure requirements, such as completing the necessary education and work experience, to avoid any delays or additional fees down the road.
Networking can also be a valuable resource in helping you save money as you start your career as a CPA in Oregon. Connect with fellow accounting professionals, attend networking events, and join professional organizations to stay informed on opportunities for scholarships, grants, and financial aid. By leveraging your network, you may uncover resources that can help offset the costs of becoming a CPA and support your career development.
Ultimately, saving money while starting a career as a CPA in Oregon requires a combination of financial planning, strategic decision-making, and resourcefulness. By being proactive in managing your expenses, seeking out cost-effective study materials, and leveraging your network, you can successfully navigate the financial challenges of pursuing a CPA license and set yourself up for long-term success in the accounting profession.
Conclusion
Becoming a CPA in Oregon 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 Oregon and making a significant impact in finance.