You can Become a CPA even without an Accounting Degree

October 31, 2024

Accounting

by acquaint

Becoming a CPA for Non-Accounting Majors
The Benefits of a Certified Public Accountant License
1. Esteemed Role
2. More Career Opportunities
3. Higher Level Performance
4. Better Long-Term Possibilities
5. Powerful Earning Prospective
6. More Flexibility
Challenges of Non-Traditional CPA Candidates
Steps to becoming a CPA without an Accounting Degree
Coursework Recommendations
Tips to Prepare for the CPA Exam for Non-Accounting Majors
Conclusion
FAQs

BECOMING A CPA FOR NON-ACCOUNTING MAJORS

The accounting field has been reliable for decades. Accounting professionals continue to thrive despite the many economic downfalls, the pandemic, and many others. These days, a considerable number of professionals who are interested in accounting but majored in other areas wonder if they could become a CPA without an accounting degree.

Is it possible to become a CPA even if you’re a non-accounting graduate? The answer is a resounding yes. It is not necessary for you to study accountancy to become a certified public accountant. These days, there are just too many good reasons why becoming a CPA even for non-accounting majors is the right path to take.

THE BENEFITS OF A CERTIFIED PUBLIC ACCOUNTANT LICENSE

Being a certified public accountant will advance your career a great deal. There are several benefits to becoming a CPA, and all are linked to career progression. Let’s find out.

1. Esteemed Role

Without a doubt, CPAs are extraordinarily well respected. As AICPA puts it: the CPA credential symbolizes professionalism and trust. CPAs continuously commit to a high standard of ethics and education; thus, they’re held with such high regard.

2. More Career Opportunities

The demand for CPAs continues to grow. Highly regarded for their strategic and technical accounting skills, these professionals are positioned uniquely to help organizations big and small navigate the different economic challenges across the globe.

3. Higher Level Performance

Unlike unlicensed accountants, CPAs are curators with a legal power and duty to act on behalf of clients. This means that as a certified public accountant, you can:

Represent a client before the IRS.
Prepare audited financial statements for reports with the SEC.
Prepare external audits and auditing of public companies.
Far more tax code and auditing knowledge compared to non-licensed peers.

4. Better Long-Term Possibilities

If your goal is to hold a senior-level role in accounting and finance, then being a CPA certainly has advantages. Furthermore, an enhanced level of continuous knowledge sets you apart from non-CPAs. You can become a manager or a partner in a public accounting firm. And, if you should ever decide to start your public accounting firm, being a CPA is a great advantage.

5. Powerful Earning Prospective

One of the main reasons why one wants to become a certified public accountant is the earning potential. CPAs must complete 150 college credit hours, pass a 4-part exam, and acquire specific experience. Moreover, they must commit to 40 hours of continuing education every year. Thus, CPAs typically have a higher salary range than unlicensed accountants. In research, the average CPA salary in the first three years is around $91,980.00 per year.

6. More Flexibility

Flexibility and job security are two of the lesser-spoken benefits of having a certified public accountant license. Although several accounting functions are now being automated, the CPA role is not. Simply put, there’s no replacement for the level of critical thinking and knowledge that a CPA can bring. Even during economic instability, certified public accountants are needed more than ever since they help companies navigate the ups and downs in the industry.

Flexibility lets you work anywhere for anyone, whatever the size of the industry may be. Accounting will always be a necessary and integral function to any organization and accountants have more opportunities to travel to different places and visit clients.

CHALLENGES OF NON-TRADITIONAL CPA CANDIDATES

Since the CPA Exam is the hardest requirement for aspiring CPAs, those who are not accounting majors should understand that they have to face an even bigger obstacle when it comes to passing the exam. Let’s delve into the unique challenges and determine ways to successfully overcome them.

Foundation Strength

If you’re not an accounting degree holder, then you need to adjust your study strategy. The CPA exam is not easy for several reasons. However, the volume of tested material is one of the biggest factors in the difficulty level. Whether because of professional specialization and/or the length of time away from college, non-traditional aspirants are most likely to have pronounced weaknesses and strengths.

Time

The time you have been away from college plays a big factor as well. The exam changes continuously due to the new AICPA audit standards, new FASB pronouncements, and new tax laws passed. The longer the time between one’s college classes and the CPA exam, the more changes that one needs to catch up on.

Before you start to study, you will have to invest additional preparation time to address your particular weaknesses and build them into your strategy. The path to becoming a CPA for non-accounting majors may be challenging, but by sizing up your situation and creating a tailored plan, these challenges can be overcome.

Career Path

If your career has focused on tax, then your strength would likely lean on the Regulation section. However, you may possibly be weaker in Audit or Financial Accounting. If you have worked in corporate accounting, then you may have greater capability for Financial, but may also be less familiar with the other sections.

STEPS TO BECOMING A CPA WITHOUT AN ACCOUNTING DEGREE

1. Educational Requirements

Education requirements may vary from one state to another, but in general, you need to at least have a 4-year Bachelor’s degree course with a minimum number of business and accounting credit hours. Moreover, you should also earn a total of 150 higher education credit hours.

2. Experience Requirements

Professional work experience is a must and this could differ from state to state. Nevertheless, aspiring CPAs need to complete 1-2 years of verified and relevant accounting experience. Several states are very lenient in terms of work experience. Some stricter states require that you directly work under a practicing or licensed CPA doing audit work.

3. Pass the Certified Public Accountant Exam

There are 4 parts to the exam and all 4 should be passed to become a CPA. The parts include Auditing and Attestation or AUD, Financial Accounting and Reporting or FAR, and Regulation or REG. Most sections are comprised of multiple-choice and task-based simulations.

AUD (Auditing and Attestation)
– Multiple Choice: 78
– Tasked-Based Simulations: 7
FAR (Financial Accounting and Reporting)
– Multiple Choice – 50
– Task-Based Simulations – 7
REG (Regulation)
– Multiple Choice – 72
– Task-Based Simulations – 8
BAR (Business Analysis and Reporting)
– Multiple Choice – 50
– Task-Based Simulations – 7

4. Schedule the Exam Test Date

There are several steps to take to apply for the CPA exam. These include:

Checking your eligibility to take the examination
Submitting the CPA exam application and the corresponding fees
Receiving the ATT or the Authorization to Test
Verifying the information on the Notice to Schedule or NTS

5. Pass the AICPA Ethics Exam

After you pass all the sections of the CPA exam, you also have to pass the AICPA ethics exam. The exam is a brief self-study course that’s a refresher on professional ethical rules and regulations and can be taken home. Although this is not mandatory in all 50 US states, the ethics exam is required in most states and encouraged in all.

6. Pay the Fees and Get the License

When you have met all the requirements and passed the exam, you can now apply for a CPA certification. There is a corresponding application fee to get your license.

Coursework Recommendations

Non-accounting majors should focus on enrolling in these courses:

Auditing. Understand the procedures and principles of auditing accounts as well as financial statements.
Financial Accounting. Acquire a strong foundation in the principles of accounting used to prepare financial statements.
Business Law. Understand the legal business environment, focusing on commercial transactions, contracts, and corporate law.
Taxation. Explore the fundamentals of tax law in the United States, which include individual and business taxation.
Cost/Managerial Accounting. Determine the internal use of accounting information for planning, control, and decision-making.

TIPS TO PREPARE FOR THE CPA EXAM FOR NON-ACCOUNTING MAJORS

Success in navigating the CPA exam requires strategic preparation. This is especially true for non-accounting majors. Below are some targeted tips to help prepare effectively:

Go for the right CPA Review Course.
Find CPA review courses that are recommended by accounting experts.
Check out programs that provide additional support for those without an accounting degree.
Spend more time on areas where you may be weaker, such as taxation or financial accounting.
Find additional resources.
Supplement the CPA review course with more study materials, including textbooks and online tutorials.
Participate in online forums or join local study groups to gain tips and insights from fellow candidates.

CONCLUSION

Becoming a certified public accountant without an accounting degree is challenging but attainable. Non-accounting majors can become CPAs by understanding and navigating through the entire process, such as the prerequisites, the exam, work experience, and ethical standards. Leveraging the resource guide from NASBA, engaging in strategic exam preparation, and pursuing additional coursework are major steps.
With the right strategy, determination, and the use of available resources, non-accounting majors who aspire to become CPAs can achieve professional success in the field. This guide serves as a roadmap to help you reach your goals to become an esteemed and highly regarded certified public accountant.

FAQs

Q. I am a non-accounting major, can I still become a CPA?

Ans. The short answer is Yes. Nonetheless, it’s necessary to complete the required number of accounting as well as business-related credits specified by the State Board of Accountancy.

Q. How long will it take me to become a certified public accountant?

Ans. From beginning to end, meeting all the education, exam, and experience requirements, it could take you around 7 years to become one. This factors in the 4 years bachelor’s Degree and an extra year to complete the additional credit hour requirements. Furthermore, you also need 1 to 2 years of qualified work experience.

Q. How can I acquire the necessary credits if I don’t have an accounting degree?

Ans. There are several options for acquiring the necessary accounting credits. These include enrolling in post-baccalaureate accounting programs, completing online courses that are recognized by the state board of accountancy, and taking up accounting courses at accredited colleges and universities. These are flexible options to fulfill the requirements.

Q. Are there states with more flexible requirements for non-accounting majors?

Ans. There are some states known for their flexible requirements for non-accounting majors. The states of Georgia and Maine, for instance, may allow candidates to sit for the CPA exam with a wider range of accounting and business coursework. Nevertheless, candidates would still have to meet the overall credit hours and work experience necessary. It’s important to research and understand the requirements of the state you prefer.

Q. Can I fulfill the education requirements with online courses?

Ans. Yes. Accredited institutions offer online courses that can help with your CPA education requirements, including business credits and accounting.

Q. What are the available resources for non-accounting majors to prepare for the exam?

Ans. There are CPA prep courses tailored for candidates who are non-accounting majors. Furthermore, there are study groups you can join. There are also additional CPA study materials like online tutorials and textbooks you can use.

Q. Why is the CPA Exam Difficult?

Ans. The certified public accountant exam is difficult since it covers comprehensive information. Nevertheless, newly licensed CPAs should know all of this information to do their jobs well.

Q. How many times can you retake the certified public accountant exam?

Ans. CPA exams can be taken again and again until you pass. The only stipulation to take into account is that you will not be able to retake a section of the exam until you receive your score report. Furthermore, you should also pass all 4 exam sections within 18 months to 30 months, depending on your jurisdiction.