Description of Professional Experience Needed During CPA Exam Study

March 25, 2012 by  Filed under: Taxes 

Most CPA candidates pursue two licensing objectives simultaneously following completion of their formal education requirements. While engaging in CPA exam study, they also satisfy the mandate for work experience under the supervision of a currently licensed CPA.

Most state accountancy boards stipulate that two years of supervised employment in public accounting is required to obtain a CPA license. However, advanced education is normally substituted for one year. Completion of additional education typically provides the CPA candidate with a post-baccalaureate degree. Alternatively, some states allow less education allocated to specific subjects as a substitute for one year of supervised work experience.

A typical CPA applicant obtains experience in auditing services. Accounting firms commonly hire CPA candidates to fulfill roles as staff auditors. Some states mandate that CPA candidates obtain a minimum amount of supervised experience in the areas of auditing and financial statement preparation.

Applicants for CPA certification must present evidence of satisfactory work history. Documentation must support the objective that a CPA possesses the ability to independently conduct a small audit with minimum supervision. Therefore, in addition to mastering CPA exam study materials, a prospective certified public accountant must learn the application of accounting and audit standards.

Although a combination of working plus studying for the CPA exam may entail long hours, the process is facilitated by the structure of a CPA examination study guide. A professionally designed training course is conducive to covering all the elements required to pass the CPA exam.

In most cases, relevant experience obtained during CPA exam preparation is acquired by working with an independent accounting firm. However, state accountancy boards retain some latitude to substitute employment history as an internal auditor at a private company or government entity. Other types of general accounting work may also suffice if the endeavors are devoted principally to comprehensive application of accounting standards and field examination measures.

In general, the audit work experience should culminate in reports about financial records and statements that a third party may rely upon. Someone with an existing CPA license attests to this employment background. The supervising professional is commonly permitted to possess licensing authority from any state. Hence, an applicant for CPA licensing in one state is usually allowed to present relevant work experience from another state.

CPA candidates often complete their educations in one state and obtain work in whatever regions offer promising prospects. Enrolling in an online CPA examination course results in portability to different locations and self-paced study.

IRS Circular 230 Disclosure

Pursuant to the requirements of the Internal Revenue Service Circular 230, we inform you that, to the extent any advice relating to a Federal tax issue is contained in this communication, including in any attachments, it was not written or intended to be used, and cannot be used, for the purpose of (a) avoiding any tax related penalties that may be imposed on you or any other person under the Internal Revenue Code, or (b) promoting, marketing or recommending to another person any transaction or matter addressed in this communication.

Fast Forward Academy is a leading publisher of education for CPA exam study and tax professionals. Access to free questions for the CPA exam study materials is available on their website.

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