Why Become a CPA?

The accounting profession today is changing at a dramatic and rapid pace. As a young accounting professional, or soon to be one, your skills, interests and attitude will all play an important part in redefining the future of the accounting profession-and particularly the CPA.

CPAs are many things. They are chief financial officers for Fortune 500 companies and advisors to small neighborhood businesses. They work for public accounting firms, both small and large. They are well-respected strategic business advisors and decision-makers. They act as consultants on many issues, including taxes and accounting.

CPA Profiles

Although they share a fundamental set of core competencies, skills, and values, CPAs come from all different backgrounds and use their talents in a remarkable variety of professions and purposes. Here is a closer look at a group of CPAs who have become stars in business.

Did You Know. . .

• Author John Grisham studied accounting at Mississippi State?

• Comedian Bob Newhart started out as an accountant?

• Phil Knight, the founder and chair of Nike, is a CPA?

• Walter Diemer, an accountant, created bubble gum?

• Thomas Pickard, the FBI's #2 man, is also a CPA?

• J.P. Morgan's first job was as a junior accountant?

• Gibby Haynes, of the Butthole Surfers, studied accounting in college?

• Jazz artist Kenny G. used to be an accountant?

• Arthur Blank, co-founder of Home Depot and owner of the Atlanta Falcons is a CPA.

Education & Experience Requirements

All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. While the exam is the same no matter where it's taken, every state/jurisdiction has its own set of education and experience requirements that individuals must meet.

Most states/jurisdictions require at least a bachelor's degree to be eligible to become a CPA. As for experience, most states/jurisdictions require at least two years public accounting experience. Many states/jurisdictions also accept non-public accounting experience (e.g., industry, government), although the number of years deemed acceptable are typically higher than for public accounting. In addition, some states/jurisdictions have a one-tier system, whereby candidates must pass the CPA exam and fulfill the experience requirements to obtain both the certificate and license. Others have a two-tier system in which you can obtain the certificate upon passing the exam, then must fulfill the experience requirements to obtain the license to practice in public accounting. Because so many factors determine whether a state/jurisdiction is considered one- or two-tier, it is recommended that you contact your state board for interpretation.

The 150-Hour Requirement

A certified public accountant (CPA) in today's environment must not only have a high level of technical competence and a sense of commitment to service, but must also have good communications and analytical skills, and the ability to work well with people. Employers are looking for individuals who have the ability to analyze and evaluate complex business problems and the interpersonal skills and maturity to make decisions in a client- and customer-service environment.

To obtain the required body of knowledge and to develop the skills and abilities needed to be successful CPAs, students should complete 150 semester hours of education. Many states/jurisdictions now require or will require 150 semester hours of education for obtaining the CPA certification. Colleges and universities in these states/jurisdictions determine the curriculum for pre-licensure education of CPAs; it typically features a good balance of accounting, business, and general education. More info

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