In Pennsylvania, 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 Pennsylvania, 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 Pennsylvania 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 Pennsylvania. CPAs are accounting, finance, and taxation experts, providing valuable services to individuals, businesses, non-profit organizations, and government agencies.
In Pennsylvania, CPAs are licensed and regulated by the Pennsylvania Board of Accountancy, ensuring that they adhere to strict professional and ethical standards. CPAs in Pennsylvania 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
- Pennsylvania 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, Pennsylvania 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 Pennsylvania, 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 Pennsylvania CPAs provide their clients with the highest service and expertise.
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How to Become a CPA in Pennsylvania
Suppose you’re considering becoming a CPA in Pennsylvania. 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 Pennsylvania is to complete the necessary education requirements. The Pennsylvania 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 Pennsylvania, 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 Pennsylvania 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 Pennsylvania-specific ethics courses, so check with the Pennsylvania Board of Accountancy for any unique requirements.
Here is the coursework breakdown for becoming a CPA in Pennsylvania.
| 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 Pennsylvania 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 Pennsylvania.
CPA Exam Application Process
To apply for the CPA Exam in Pennsylvania, 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 Pennsylvania 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 Pennsylvania must fulfill an experience requirement to become licensed. The Pennsylvania 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 Pennsylvania 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 Pennsylvania Board of Accountancy.
Step 4: Pass The Pennsylvania Ethics Exam
Candidates must also pass an ethics exam before becoming a licensed CPA in Pennsylvania. The Pennsylvania 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 Pennsylvania Board of Accountancy. Candidates must apply, pay $100 initial license fee, $100 biennial renewal, and document their education, examination scores, work experience, and ethics exam completion.
After the Pennsylvania 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 Pennsylvania.
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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 Pennsylvania 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 Pennsylvania, 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 Pennsylvania
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- 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 Pennsylvania
For individuals looking to save money while pursuing their dream of becoming a CPA in Pennsylvania, there are several cost-saving strategies that can help alleviate some of the financial burdens associated with this career path.
First and foremost, one of the best ways to save money while starting a career as a CPA is to carefully consider your education options. Before enrolling in a costly degree program, explore less expensive alternatives such as community colleges or online universities. Many reputable institutions offer accounting programs that are more affordable than traditional four-year universities.
Additionally, consider exploring scholarship opportunities and financial aid options to help offset the costs of tuition and fees. Many accounting firms, professional organizations, and government agencies offer scholarships and grants specifically for individuals pursuing a career in accounting. By taking the time to research and apply for these opportunities, you may be able to significantly reduce your out-of-pocket expenses.
Another way to save money while becoming a CPA in Pennsylvania is to carefully plan and budget for your examination fees. The Uniform CPA Examination is a critical step on the path to becoming a licensed CPA, but the associated fees can be substantial. To minimize costs, create a study plan and timeline that allows you to pass the exam on the first try, thereby avoiding the need to retake any sections.
Furthermore, consider purchasing used study materials or utilizing free resources and study groups to prepare for the CPA exam. Many online platforms and forums offer valuable study materials and resources at little to no cost, making it easier to save money while still adequately preparing for the examination.
Once you have passed the CPA exam and are ready to start working as a licensed CPA in Pennsylvania, it is essential to budget for licensing and professional development requirements. Be sure to research the licensing fees and continuing education requirements in your state and plan ahead to ensure that you have the necessary funds available when the time comes to renew your license.
Finally, consider joining professional organizations and networking groups to connect with other accountants and CPAs in Pennsylvania. These groups often offer networking opportunities, job leads, and valuable resources that can help you advance your career without breaking the bank.
In conclusion, becoming a CPA in Pennsylvania is a significant investment of time and money, but there are ways to save money and reduce costs along the way. By carefully planning your education, budgeting for examination fees, and taking advantage of scholarship opportunities and free resources, you can pursue your dream of becoming a CPA while still saving money. With a little foresight and savvy financial planning, you can achieve your career goals without sacrificing your financial stability.
Conclusion
Becoming a CPA in Pennsylvania 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 Pennsylvania and making a significant impact in finance.