sylvania CPA requirements

Pennsylvania is an exciting destination for accounting professionals. About two dozen Fortune 500 firms are located in Pennsylvania, as well as thriving industries such as manufacturing, health sciences and energy. Philadelphia and Pittsburgh are the two cities that anchor its urban landscape. Both cities have large populations who require complex financial services.

Certified Public Accountants (CPAs), help individuals and companies manage their financial obligations. The license profession tends to be well-paid. The U.S. As of May 20, 2021, U.S. The Bureau of Labor Statistics reported that the average wage of an accountant or auditor in Pennsylvania was nearly $80,000 annually.

The CPA requirements in Pennsylvania are the same as those of most other states. Candidates must have a bachelor’s with a strong focus on accounting and finance. Also, they need to have about one year of relevant experience.

There are many accredited Pennsylvania colleges that offer accounting programs. Candidates do not have to complete their education in Pennsylvania as long as they meet the CPA requirements.

This guide will help you learn how to become a CPA, and includes the experience and education requirements.

The Education Requirements to Become a CPA In Pennsylvania

Pennsylvania’s CPA eligibility requirements include a Bachelor’s Degree from an accredited College. The Pennsylvania Institute of Certified Public Accountants does not specify a specific major. Candidates from all backgrounds are welcome to apply if they have completed certain coursework.

In Pennsylvania, CPAs are required to have completed at least 150 college credits in order to be licensed. Some bachelor’s accounting programs allow students to meet this requirement with 150 credits, instead of the usual 120 credits.

Accelerated bachelor’s-to-master’s accounting programs offer an alternative. These programs often meet the CPA requirements.

Concentrations, credits, and course acceptance

A candidate must hold a bachelor’s or higher degree to qualify for the Pennsylvania CPA examination. The degree need not cover all 150 credits. The candidate must still complete the credits to be eligible for a Pennsylvania CPA licence.

Pennsylvania CPA exam requirements don’t specify a particular college major. Candidates must still meet certain credit requirements in order to qualify for the exam.

• Accounting and auditing
• Business law
• Economics
• 
  Finance
  
• 
  Taxation
  

The Pennsylvania State Board of Accountancy must sanction the subjects that qualify. The Pennsylvania State Board of Accountancy must approve the subjects that qualify. The candidate must have 12 credits of accounting, taxation, or auditing.

Pennsylvania allows for considerable flexibility in obtaining these credits. CPAs who are aspiring can earn these credits at either the undergraduate or graduate level. The credits do not need to be part of an undergraduate or graduate degree program.

There is an alternative path for people who have passed the CPA exam in Pennsylvania at least once before December 31, 2011. This alternative path allows candidates to be licensed with 120 credits rather than the normal 150.

Candidates who qualify under this option are required to have at least two years relevant experience, instead of just one. This section will provide more information on acceptable sources of experience.

Pennsylvania Experience Requirements

Pennsylvania CPA requirements include experience in the workplace. The majority of candidates require at least 1 year (1,600 hour) of relevant work experience. CPAs who are interested in becoming licensed must have this experience within five years of the application date.

Work experience must include providing professional advice or services in at least one of the following:

• Accounting
• Attestation is the verification of financial information according to internal procedures.
• Compilation is the process of assembling unaudited financial information into financial statements and reports.
• Consultancy, financial advisory or management advisory services
• Taxation

Your work experience must be verified by a licensed CPA. The candidate must have worked in the private sector, academia, government or public practice.

People who have passed the Pennsylvania CPA exam at least in part before December 31, 2011 are subject to different experience requirements. This group only needs 120 college credits instead of 150 to be eligible for a CPA licence.

The work experience requirement for CPAs is doubled. They must have at least 2 years (3200 hours) experience. Candidates must also have experience that is no older than 10 years before the application date for CPA licensure.

Pennsylvania CPA Exam Requirements

Candidates in Pennsylvania and other U.S. states must pass the Unified CPA Examination. The CPA test consists of four parts:

• Auditing and Attestation
• Business Environment and Concepts
• Accounting and reporting for financial transactions
• The Regulations of the United States

The CPA exam may be the same in every state, but eligibility requirements and other processes are different. The following subsections provide Pennsylvania-specific information.

Exam Eligibility

After earning a bachelor’s degree or a master’s, aspiring CPAs in Pennsylvania can apply to take the CPA exam. Candidates must have completed at least 24 credits of accounting before applying.

The CPA exam can be taken by a candidate who has less than 150 college credits. They cannot get a license unless they have 150 college credits.

Pennsylvania also has a number of general eligibility standards.

• The minimum age for candidates is 18 years old
• The test-takers are required to have a Social Security Number (SSN); those without SSNs will need to fill out a waiver
• No proof of U.S. citizenship or Pennsylvania residency is required

Pennsylvania does not require that candidates pass an ethical exam in order to receive initial licensure.

Exam Schedule and Application

For each applicant to apply for the Pennsylvania CPA exam they must create a user profile on the CPA Central website of National Association of State Boards of Accountancy.

Aspiring CPAs may apply to take all four sections of the exam simultaneously, or just one part. They must however complete each part within six months from the date of application. The candidate must also pass the four sections of the exam within 18 months. The 18-month period begins once a test taker has passed their first section.

Pennsylvania’s eligibility requirements require that each applicant hold a minimum of a Bachelor’s Degree before applying. The state CPA exam cannot be taken before a degree is completed.

A $105 application charge will be charged as of March 2023. This fee is paid by candidates each time they register for an examination. Applicants are required to submit their transcripts of academic records directly from their institutions to NASBA. Transcript submissions may incur additional fees.

There are important differences between the approval process to take an exam (or sections) and the scheduling of the test. After submitting their application, candidates will usually receive approval within 6-8 week for the relevant sections. NASBA will send a Notice to Schedule to the candidate after they have been approved.

The NTS contains instructions for scheduling. If you have any questions, please contact the NASBA coordinator for Pennsylvania by email.

After passing the Exam

The CPA exam in Pennsylvania is divided into four sections. Candidates who pass all four sections are well on their way to earning their license. They must, however, meet all requirements for education and experience before they can receive licenses.

You can get your CPA license in Pennsylvania if you pass all four parts of an exam. You don’t need to meet all education and experience requirements in order to apply. However:

• The required experience must be accumulated within five years of the date you applied for your CPA license.
• Before you can get your license, you must fill in any gaps between 150 college credit and the number you already have.

Results of exams expire after 18 months. You will have to retake the section(s) if you don’t apply for a CPA license in 18 months after passing an exam.

In March 2023, CPAs will have to pay $65 in order to obtain their license. The Bureau of Professional and Occupational Affairs in Pennsylvania allows employers to verify a candidate’s license status.

Retaining your Licensure

CPA licenses in Pennsylvania expire every odd-numbered December 31. Pennsylvania’s State Board of Accountancy sends renewal notices by mail to the license holder’s registered address at least two months before expiration.

Pennsylvania requires that licensees complete continuing professional development (CPE credits) during every licensing cycle. A licensed CPA who wants to maintain their renewal eligibility must complete 80 CPE credits every two years.

Additional details regarding CPE requirements include:

CPA licenses are generally transferable between states and jurisdictions in the United States. Alabama, Connecticut Hawaii, Illinois Kansas Nebraska and Oklahoma, however, use a “two-tiered” system. In these states, accountants must first obtain a CPA certificate before they can become fully licensed. In Pennsylvania, accountants must be fully licensed to have their credentials recognized.

In Pennsylvania, you do not have to be a CPA in order to start an accounting firm. Minority ownership can be held by unlicensed professionals in Pennsylvania CPA firms.

Pennsylvania CPA requirements

The article Pennsylvania CPA requirements first appeared on Accounting.com.

Author: Alaina McCartney