Definition: The title given to an accountant who has passed the national CPA exam as well as received the education and accounting experience required by the state in which the accountant works.
Example: There are many CPA firms, ranging from a single CPA to firms with thousands of them. The “big four” accounting firms are .
Investeach explains: For an accountant, achieving the CPA title is very prestigious and shows that he or she is committed to being at the top of the field. To become a CPA, a person must have the three Es:
– Education: Usually about 150 hours of college education in accounting
– Exam: A score of 70 or higher (out of 100) on the national CPA exam
– Experience: One to two years working under the supervision of a current CPA
To maintain their status, CPAs must generally receive 40 hours of Continuing Professional Education per year. Finally, the national organization that represents the interests of CPAs and speaks for them is the AICPA.
Riddle me this:
1. What three Es do accountants need to become CPAs?
2. What national organization represents the interests of CPAs?
3. Once the CPA title is earned, what is required to keep this prestigious designation?