h Carolina CPA requirements

South Carolina is an excellent place to work because of its warm climate and diverse scenery. Tourists from all over the world flock to South Carolina’s beaches and its golf courses, which help drive economic growth and employment. You can start your journey towards becoming a South Carolina CPA by attending the state’s best colleges and universities.

According to the Bureau of Labor Statistics in May 2022, South Carolina’s accountants and auditors earned a median salary of $72,820. The low cost-of-living in South Carolina can make this salary go a long ways. CPAs earn more than other accountants and may be able to find employment in South Carolina’s growing education, healthcare, manufacturing, or automotive industries.

The road to being a CPA can be long and difficult, but with the right plan, you will get the education and the experience you need. Learn more about becoming a CPA.

South Carolina CPA Education Requirements

Before you can take the Uniform CPA Examination, South Carolina requires that you complete 120 college credit hours, including a Bachelor’s Degree. These credits must include four courses at the junior level or above — auditing, cost/managerial accounting, intermediate/financial accounting, and a U.S. tax course. You will also need to complete 24 credits in business courses.

You will need to earn another 30 credits after passing the exam before you can be licensed as a public accounting. These credits must include 36 semester-hours of accounting and another 36 hours in business.

While South Carolina does not require a master’s degree for this career, enrolling in an accelerated bachelor’s-to-master’s program can help you meet these requirements quickly and efficiently.

Concentrations, credits, and course acceptance

You do not have to major in business or accounting to become a CPA. Although it may be helpful to select one of these majors because South Carolina CPA requirements have a list of specific courses that students must complete.

South Carolina students who wish to apply for the Uniform Certified Public Accountant Exam must have a Bachelor’s Degree with at least 24 semester credits in accounting courses. These courses include auditing, intermediate and financial accounting, managerial or cost accounting, as well as U.S. Taxation. State accepts 12 credits from lower-level classes. You will also need to complete 24 credits in business courses, at any level.

You will need to have 36 credits of accounting, 24 of which must be at the third year level or higher, as well as 36 credits from business. The same course cannot be used to fulfill both the business and accounting requirements.

South Carolina will not accept credit earned by non-traditional means, such as through prior learning assessment, life or work experience, placement credits, or exemptions via exam. The state will recognize undergraduate, graduate or doctoral courses from regionally accredited schools.

These courses may help you to meet South Carolina’s education requirements.

• Financial accounting
• Accounting for managers
• Taxation
• Auditing
• Macroeconomics
• Microeconomics
• Financial Services
• Business law

South Carolina Experience Requirements

To apply for the South Carolina CPA License, you must have completed one year of accounting experience. What is considered qualifying accounting experience by the state?

This requirement can be met in three different ways:

• Spend 12 months under the direct supervision of an accountant or CPA licensed in any State or District of Columbia.
• You must teach accounting for at least five years in a college or university. The institution at which you teach must be recognized by the South Carolina Board of Accountancy.
• The board may consider any combination of experience as substantial.

After completing at least 24 accounting credits, the board expects that applicants will meet their experience requirement. The credits must include taxation, auditing, financial accounting and managerial accounting at the junior or higher level.

You must use a Verification of Experience Form to document your experience when applying for your CPA licence. List the dates you obtained your experience. Identify the CPA that verifies your work. Write a description of your tasks. This document will be signed by both you and the CPA who supervises you.

CPA Exam Requirements

The education and experience requirements for becoming a CPA are determined by each state. The Unified CPA Examination is the only factor that all states have in common. The exam itself is the same, but the requirements are different. Learn about the eligibility requirements for South Carolina and how to apply.

Exam Eligibility

You must be 18 years of age and have a good moral character to take the CPA test in South Carolina. If you are a resident of South Carolina, then “good moral character”, means that you do not have any criminal convictions and your CPA license is still valid. No U.S. Citizenship or South Carolina Residency is required, but you do need a Social Security Number or Lawful Permanent Resident Number (green card).

South Carolina academic requirements require you to earn 120 credits including a Bachelor’s Degree. You must have at least 24 credit hours in accounting courses on your transcript. These need to include courses in auditing, intermediate/financial accounting, cost/managerial accounting, and U.S. taxation at the junior level or higher.

South Carolina accepts a maximum of 12 credits for lower-level accounting courses. The applicant must also have 24 credits in business courses.

The state does accept credits that are earned in non-traditional ways. You cannot, for example, count credits earned by way of placement credit, exemption from exams, or prior-learning assessments.

Exam Schedule and Application

You can apply for the CPA Exam in South Carolina if you meet the requirements. You will need to create an account and a password. The $135 fee for first-time applicants can be paid with a credit card.

CPA Examination Services can be contacted by contacting the registrar of each school that you attended and asking them to send a transcript to CPA Examination Services. This transcript must only include credit courses taken at accredited colleges and universities. Online courses are acceptable, but CPA prep classes offered by commercial firms do not qualify.

If you have earned credits outside of the U.S. you must submit an evaluation report and the credit information to CPA Examination Services. Applicants with disabilities must submit their requests for accommodations with their application.

You can choose to take four different parts of the test: auditing and attestation, business environment concepts, financial reporting and accounting, or regulation. Each part costs $238.15. Exam fees are non-refundable, except in exceptional circumstances.

You should only apply for sections of the exam you intend to complete within six months. All four sections must be completed within 18 months after passing the first exam.

After passing the Exam

After passing all four CPA exams, you must complete the educational, experience and ethics requirements. Then, you can apply for a state license. You can either submit an online application via the South Carolina Board of Accountancy or print out a paper version.

Pay your $50 application fee, send your copy of the state issued ID, your social security card and a passport-size photograph. You can also upload your certificate of completion from a professional ethical course, as well as evidence of your work experience.

You can download the Interstate Exchange of Examination Form from the Board’s website if you wish to apply for certification by reciprocity.

Maintaining your Licensure

You must renew your license each year once you are licensed. The Board of Accountancy sends you 3-5 emails to remind you of your expiration date. It is important that the board has up-to-date contact information.

For renewal, you must complete 40 credits of continuing professional education (CPE), including two ethics credits, in a calendar year. South Carolina will no longer require a specific course in ethics as of 2022. You can now meet this requirement by taking any course that qualifies in ethical behavior or regulatory ethics. The South Carolina Association of CPAs provides many CPE courses including ethics courses.

Your license can be renewed in two easy steps. You must first complete the renewal application with South Carolina Board of Accountancy, and then pay the $80 renewal fee. You must then submit proof of continuing professional education using the annual reporting and attach it to your renewal form.

You can carry forward up to 20 CPE credits from one year to another. Reporting carryover credits and new credits can be done on the report form. This form must be completed and signed, along with any certificates of completion.

Question about CPAs in South Carolina

How can I become a CPA?

You should first earn a Bachelor’s Degree that includes at minimum 24 credits of accounting-related coursework. You must then pass the Uniform CPA Exam. You must also complete a year of experience to qualify and earn 30 additional college credits.

Who is eligible to take the CPA exam in South Carolina.

You must have a Bachelor’s Degree and be 18 years of age to take the CPA Exam in South Carolina. Your degree must include 120 credits total, including 24 accounting credits.

How long does it usually take to become a CPA in South Carolina?

It can take between 6-10 years to become a South Carolina CPA. You will need to complete a four year degree, plus an extra year of study. Then, you must perform a year’s worth of work experience and study and pass the CPA exam.

How difficult is it to get a CPA’s license in South Carolina?

It is a long road to become a CPA, and there are many requirements. You must complete 150 credits of higher education, have one year of supervised work experience and pass the Uniform CPA Examination to earn a South Carolina CPA License.

Is there reciprocity between South Carolina and the CPA?

You can get a South Carolina CPA license if you have a CPA license in another state. On the South Carolina Board of Accountancy site, you can download both a paper and electronic application.

The article South Carolina CPA requirements first appeared on Accounting.com.

Author: Emily Kelso