Requirements for Missouri

Missouri’s first accountant published their business in 1896. Accountants and auditors are able to enjoy the natural beauty of Missouri, its low cost, and its cultural diversity.

CPAs in Missouri work in top firms, such as those in St. Louis and other major cities. They can also help run agriculture or automotive businesses in Missouri’s rural areas. According to data collected by the Bureau of Labor Statistics in May 2022, Missouri’s accountants make an average annual wage of $77,000.

CPA requirements are similar in Missouri to those of other states. This includes education, experience and the examination. Find out how to become a Certified Public Accountant in Missouri.

Missouri CPA Education Requirements

You must have 120 college credits to sit for the CPA examination in Missouri. This includes 24 accounting credits and also 24 business education credits. After you pass the CPA exam, you will need 30 additional credits. These include six business credits and six accounting credits. These hours must culminate in either a bachelor’s or master’s.

The average bachelor’s degree is 120 credits. Most master’s degrees require 36 credits to be added on top of the bachelor’s. This is just six more credits than Missouri’s requirements for CPA licensing. An accelerated bachelor’s-to-master’s program can help students meet Missouri’s educational requirements quickly and efficiently.

Concentrations, credits, and course acceptance

You do not need to be a major in business or accounting to become a Missouri CPA. To apply for licensing, you will need to have 30 credits in business and 30 credits in accounting. Candidates often complete both an undergraduate and graduate degree in order to fulfill the credit requirements.

You can complete your CPA requirements by majoring in accounting or business. Consider a master’s degree in accountancy, taxation or MBA with an accounting concentration.

Missouri does not specify which courses or how many you must take at undergraduate or graduate level. The state recommends courses in the following areas.

• Accounting Information Systems
• Data analytics techniques or digital savvy
• The Ethics of the Law
• Fraud examination
• Mergers and Acquisitions
• Taxation
• Business law
• Information technology or systems
• Quantitative methods
• Statistics

The Missouri State Board of Accountancy will accept up to nine credits from formal internships and independent study. All credits must be from accredited institutions of higher education.

Missouri Experience Requirements

Missouri CPA requirements include one full-time year of experience in a position related to accounting. State board considers that 2,000 hours of work experience earned over a period of 1-3 years is equivalent to one year. For a candidate to pursue a career in auditing, they will need an additional 2,000 experience hours.

You can receive credit for work that involves accounting, tax review or attestation, management advisory services, compilations, financial advice, or consulting. You can work for government, academia or in public practice doing auditing, budgeting or governmental accounting. Your work must be supervised by a CPA. If you are performing attest services, the supervisor must have a minimum of 2,000 hours experience in attesting.

The candidate must document their experience in their application form. This requires the signature of their supervising CPA. The board will review your work after receiving your application. The board may require you to verify or substantiate your work experience.

CPA Exam Requirements

The Uniform CPA Exam is a crucial part of your journey to becoming a CPA. The exam is the only factor that is consistent across all states, even though each state sets its own requirements for licensing. Take a look at Missouri’s exam requirements.

Exam Eligibility

You must have 120 credits at an accredited university or college to apply for the CPA examination. You must have completed at least 24 credits in accounting, and another 24 in business. If you completed your higher education outside of the U.S., please submit your academic credentials to be reviewed.

You can apply if you do not meet the education requirements, but plan to within 60 days. However, you must take the test within 60 days after receiving approval.

All applicants must be 18 years old and have a good moral character. The only requirement is that you have a Missouri residence and a Social Security Number. You don’t need to be a U.S. Citizen. Candidates must pass the exam of the American Institute of Certified Public Accountants or an equivalent written test in professional ethics accepted by the Missouri board. This exam can be taken after you have passed the Uniform CPA Examination.

Exam Schedule and Application

You must create a CPA Center account to take the exam. You can apply to take a section of the exam using your account. Confirm that you meet all eligibility requirements for your application to get approved.

Ask the registrar of each school that you attended to send your transcripts to National Association of State Boards of Accountancy.

You must also submit a signed certificate of enrollment from an officer at the college if you are still enrolled. Request forms are also required by applicants who require an evaluation of credit earned at institutions outside the U.S. or candidates who request testing accommodations.

You will receive a Notice to Schedule after NASBA has approved your application. You have six month to schedule an exam at a Prometric centre. Call 800-580-9648 to schedule your exam. You will need your NTS number.

Each exam costs $238.15. You have up to 18 months in which to pass the four sections. You must retake the test if you fail any part of it within this time period. Test-takers who are returning to take the test pay an additional $100 registration fee in addition to their exam fees.

After passing the Exam

You must finish the remaining educational credits after passing the Uniform CPA Examination. If you take more than five years, you must earn 40 continuing professional education units (CPE).

After passing the exam, you must complete 2,000 hours in accounting under the supervision of a CPA. You must also pass an ethics test.

Complete the CPA application form at the Missouri Division for Professional Registration. The fee for the application is $90. You will receive your CPA certificate in the mail. This can be used to prove your license to potential employers.

Maintaining your Licence

Missouri CPA licenses expire every two years. The accounting board will send you a reminder 60 days prior to the expiration date so that you can finish the paperwork.

You must complete at least 40 CPE credits per calendar year to maintain your Missouri CPA certification. Two of the hours must be ethics-related. The Missouri State Board of Accountancy offers a grace period until March 1 for any CPE deficiencies from the previous year.

CPEs are required to meet the CPE standards of NASBA or a similar accounting board. CPE credits can be earned by CPAs for various activities, including leading an accounting workshop or taking an accounting course at a college, writing an article or book or assisting with a CPE. Keep certificates of completion, or use another method approved by the board to document your CPEs.

You can transfer your CPA license to Missouri after you pass the Uniform CPA Examination and a qualifying ethical exam. At least 2,000 hours supervised experience is required. Out-of-state applicants who wish to obtain a Missouri license must have at least four years’ experience. In Missouri, a majority of the owners of a CPA company must be CPAs.

Question about CPAs in Missouri

How can I become a CPA?

You must first complete 120 college credits to become a CPA. You must then pass the Uniform CPA Examination and earn 30 more credits. Then, you will need to pass the ethics test, as well as pass the Uniform CPA Examination. After you’ve completed Missouri CPA requirements, it is possible to apply for a license.

Who is eligible to take the CPA exam in Missouri?

The applicant must have at least 18-years-old and 120 credits including 24 business credits and 24 accounting credits. The applicants must also have a good moral character.

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

To earn 150 college credits, it takes approximately six years of study at full-time. Before applying for licensing, successful test-takers are required to complete 2,000 full-time hours of experience — approximately one year. Aspiring CPAs can expect to spend seven years or more studying and working.

When can I take the CPA examination in Missouri?

You need to have 120 college credits including 24 credits of accounting and 24 credits of general business. These credits will usually be enough to earn a bachelor’s, which is required for licensing.

What is the cost of a CPA in Missouri?

In Missouri, an individual license or a firm permit costs $90. Renewal costs $80 and late fees range from $25 per month to $100. These fees are in addition to the CPA exam, tuition and other fees.

The article CPA requirements in Missouri first appeared on Accounting.com.

Author: Emily Kelso