ana CPA Requirements

Montana is home to a number of highly concentrated financial and business operations, despite having one the smallest populations in the United States. Nearly 20% of Montana’s GDP is attributed to the financial activities industry. This sector grew by over 20% between 2008 and 2018.

Certified Public Accountants in the state will be pleased to learn of the importance of the financial service industry. These accounting specialists have the expertise to support even the most complex financial operations and activities. CPAs have advanced degrees and licenses, which allows them to compete for the highest positions and pay in the field.

It is not easy to become a CPA. To become a CPA, you must meet specific education, experience, and examination requirements. This guide will explore the CPA requirements in Montana, as well as the Accounting programs in Montana which can lead to a career in the field.

The Education Requirements to Become a CPA In Montana

Montana requires that prospective CPAs meet the education requirements in two phases: exam and licensure. Candidates need to have 24 credits of accounting and 24 credits of business courses in order to qualify for the Uniform Exam.

Candidates must have a bachelor’s degree with 150 credits to qualify for state licensing. The 150 credits must include 24 in accounting, and 24 in business. Candidates usually require 30 credits more since most bachelor’s degree programs have 120 credits. They can earn these from separate courses, a master’s degree, or a bachelor’s-to-master’s program.

Concentrations, credits, and course acceptance

According to the National Association of State Boards of Accountancy, Montana CPA requirements require a bachelor’s and 150 credits. Candidates must have 24 credits in accounting above the introductory-level, with at least one credit each in the following disciplines.

• Auditing
• Financial accounting
• Management Accounting
• Taxation

CPA candidates must also complete 24 credits of business courses, covering any or all of the topics below:

• Business law
• Communication
• The Ethics of the Law
• Financial Services
• Information systems
• Marketers
• Organisational Behavior
• Quantitative Applications

Montana does not have graduate credit requirements. However, the additional 30 credits can be obtained from a post-bachelor program.

Transfer credits are not eligible because they must appear on an official transcript. All credits must be from an accredited accounting school.

Credit requirements may be met by courses from a chartered accountant program. Courses from a CPA review program are not eligible.

Montana Experience Requirements

According to Montana Board of Public Accountants CPA candidates must have a minimum of 2,080 hours of experience in accounting or auditing to be eligible for licensure. This experience can be from part-time or full-time employment completed in the three years prior to an application.

All experience must have been verified by an active CPA on a experience sheet. Montana is a single-tier state. CPA candidates may complete their professional experience requirements either before or after taking the exam.

Experience that is eligible can be obtained in the following areas or services:

CPA Exam Requirements

The Uniform CPA Examination in Montana is the same as the one that’s used in other states. The test is administered by the American Institute of Certified Public Accountants.

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

All CPA candidates must take the same test. The only differences are the eligibility requirements for the exam and the steps afterward.

Exam Eligibility

Before taking the exam, CPA candidates in Montana must complete 24 credits of accounting and 24 credits of business. After meeting the requirements, they can take the test at any time.

Montana has no age, Social Security number, citizenship, or residency requirement. Candidates do require a Certificate of Good Moral Character. For initial licensure, they must also pass the AICPA’s Professional Ethics Exam.

Exam Schedule and Application

To apply for the test, candidates must go to CPA Central of NASBA. Along with their application, applicants are required to pay $245.

The application must be complete and include official transcripts that have been sent to CPA Examination Services by the school. The applicant must also specify which section of the test they want to take, and pay $238.15 for each.

After submitting the application, applicants will receive an email with instructions on how to schedule their test. The window for testing is six months. The sections can be scheduled in any order, or at one time. However, candidates should only schedule what they are able to complete within the six-month testing window. The failed sections can be repeated, but not within the same testing window.

The four sections of the test must be completed in 18 months. Applications that are incomplete will be rejected, and the fees will be forfeited. Candidates must pay $100 to reapply.

After passing the Exam

Candidates can apply for licensure at the Board of Public Accountants after completing the CPA exam and other requirements. CPA exam results do not expire once an applicant starts their application. They have 12 months to finish it.

AICPA usually releases the results of the exam within two weeks. The CBA receives the scores. A complete licensure application contains:

• Form
• AICPA Ethics Exam Passed
• Transcripts of official transcripts for 150 credits
• Experience Form
• Application Fee of $150
• The Board will prescribe the form of Oath.

The Montana Department of Labor and Industry can verify CPA licenses.

Maintaining your Licence

Montana CPAs must renew their licenses annually by the 31st of December. In order to maintain their license, CPAs in Montana must also complete 120 hours of continuing education (CPE), every three years. The CPE must include at least 60 hours in technical topics, as well as two hours on ethics.

CPAs who are licensed in states that have requirements similar to Montana can apply for a transfer of license. Montana requires that a majority ownership of a firm be held by CPAs.

Question about CPAs in Montana

What are the CPA requirements in Montana?

Montana’s CPA requirement includes a bachelor’s and 150 credits. This includes 24 accounting credits and 24 business credits. CPAs must also pass the exam, and have 2,000 hours of experience.

Who is eligible to take the CPA exam in Montana?

Candidates must have a minimum 24 accounting credits beyond the introductory level, and 24 credits in business.

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

The education requirement for the Montana CPA takes approximately five years. The exam can take up to 18 months, but the experience must be completed within a year. This totals 7.5 years.

Is it difficult to get a CPA’s license in Montana?

It can be challenging to obtain a CPA’s license in Montana. Candidates must be dedicated to meeting the educational and experience requirements. The CPA exam has passing rates ranging from 43-60%, depending on which section.

Does Montana require a CPA to pass an ethics exam?

Yes. The Montana CPA requirement includes the AICPA Ethics Exam. You must pass this exam before you can apply for licensure.

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

Author: Alaina McCartney