I Pass CMA Exam

CMA Knowledge

To prepare and maintain financial records within the company the role of accountant is imperative. Accountants have a reasonable impact on organizational strength, so businesses sought for professionals with significant education and expertise in this discipline. Employees with Certified Public Accountant (CPA) certification are more preferential to fill these positions.

What is a CPA:
A Certified Public Accountant (CPA) is a designator with CPA accreditation from a state board of accountancy. Each of the US States has jurisdiction to provide the CPA license with varying prerequisites. The aspirants are required to get success in the CPA exam by the American Institute of Certified Public Accountants (AICPA).

Why should I become a Certified Public Accountant:
There may be different motives behind the decision of CPA certification as it’s the most lucrative accreditation. This prestigious credential boosts your career and allows you to get a plethora of benefits few are discussed below.

Career Development:
To qualify for CPA accreditation requires you to have certain capabilities and this enviable potential leads you to have career growth in the industry. As a professional accreditation holder businesses trust you more and you are given more responsibilities, these experiences allow you to emerge as a best Public Accountant.

Growing Job Opportunities:
Various organizations require this certification as a precondition to benchmark the level of the Public Accountant post. Candidats without certification are not compatible enough with their criteria. To avail the pool of such opportunities and to fill those open positions it’s imperative to pass the certification.

High Paying Jobs:
Earnings of Certified Public Accountants are pretty much higher than their non-certified counterparts. The salary covers all licensure costs within the year .

Respect and Credibility:
The best knowledge, and professional experience leads CPA certified to get prestige titles. As it’s the top level of the accountant so, you enjoy enviable respect and credibility. Organizations regard significant value to your judgements and this worth helps you to get quick promotion.

Career Security:
Least qualified and experienced are on the verge of losing their jobs in an economic downturn. The CPA certification assists you as an insurance policy against layoffs.

Meet the CPA Exam Prerequisites:

It’s essential to overview the prerequisite for the CPA exam set by AICPA before taking any further step. Just as required by other certifications CPAs have to fulfil the educational, as well as experience requirements. To ensure your eligibility for the CPA exam have a look at the section below.

Education:
To qualify for the credential it’s essential to have accounting education to get a CPA license. You are able to get certification if you have completed 150 credit hours of education from a higher institution including a bachelor’s degree and 30 credit hours of business and accounting courses.

Experience:
Professional accounting experience of 1-2 years must be possessed by the candidate.

Registration for the CPA Exam:

After fulfilling all prerequisites, it is advisable to perform registration and payment process to become a CPA designator.
On the basis of your transcript you get authorization to test (ATT) from the state, upon its submission to the National Association of State Boards of Accountancy (NASBA), you get Notice to Schedule (NTS) and this NTS is used in scheduling dates with Prometric.
As you got the NTS now to set up the first test date with Prometric you have 6 months. It’s preferable to manage dates in the beginning as it’s difficult to find a spot later.

Pass The CPA Exam:
The most eminent value of a certified Public Accountant demands significant hardwork and relevant experience. Aspirants are required to have a proper CPA study plan with authentic and most apposite syllabus. It’s impeccable to take help from multiple sources and access your knowledge with the following options.
CPA online quizzes
Online Practice tests
Exam Review courses
CPA online multiple choice questions
The passing rate of the CPA exam is about 50%, it’s the indication of utmost struggle you are supposed to do to pass the exam having 4 sections.

Maintain your CPA Certification with CPE:
To maintain the CPA license, the designator must have to complete 120 hours of Continuing Professional Education (CPE) every three years before license expiration. Bear in mind that registered CPAs are immune from this requirement.

CPA Exam Courses Syllabus:
CPA exam covers four parts and each part includes knowledge about business, auditing, attestation, ethics, financial reporting and many other relevant topics. The outline of all parts with the percentage of each section is as follows.

Auditing and Attestation (AUD):
Section 1: Ethics, Professional Responsibilities, and General Principles (15-25%)
Section 2:Assessing Risk and Developing a Planned Response (20-30%)
Section 3:Performing Further Procedures and Obtaining Evidence (30-40%)
Section 4:Forming Conclusions and Reporting (15-25%)
Business Environment and Concepts (BEC):
Section 1: Corporate Governance (17-27%)
Section 2: Economic Concepts and Analysis (17-27%)
Section 3: Financial Management (11-21%)
Section 4: Information Technology (15-25%)
Section 5: Operations Management (15-25%)
Financial Accounting and Reporting (FAR):
Section 1: Conceptual Framework, Standard-Setting, and Financial Reporting (25-35%)
Section 2: Select Financial Statement Accounts (30-40%)
Section 3: Select Transactions (20-30%)
Section 4: State and Local Governments (5-15%)
Regulation (REG):
Section 1: Ethics, Professional Responsibilities, and Federal Tax Procedures (10-20%)
Section 2: Business Law (10-20%)
Section 3: Federal Taxation of Property Transactions (12-22%)
Section 4: Federal Taxation of Individuals (15-25%)
Section 5: Federal Taxation of Entities (28-38%)
You have passed the CPA exam now what:
If you have completed the milestone of passing the CPA exam, you are one step away from certification as the experience requirement needs to be fulfilled. After completing all prerequisites you must apply for license to your state board. You are a designator with a renowned certification now and to maintain your certification you have to earn 150 credit hours of CPE, the more you focus to sustain your certification the highest benefits you’ll experience as a Certified Public Accountant.
If you fulfill prerequisites and possess the relevant experience, it’s the right time for you to qualify for this renowned certification.

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