CPA Requirements in Virginia
If you have been following this blog, then you know I am pursuing my B.A. in Accounting. My tentative graduation date is January 2010. This means I am in my last stretch of classes and must start deciding what I will do with my degree upon graduation. In a discussion with my professor last week I was informed of some changes in the requirements for CPA certification (in the state of Florida where my school is located). I live in Virginia, though. So I did some research, which consequently was a discussion question this week in my new class, Auditing. Let me back track just a moment. My college is a little different in that instead of taking multiple classes over the course of several months they hold one class each month for a total of 12 classes per year. This is extremely helpful when you have a full time life outside of school. So, when one class ends, the next typically starts (the exception is spring, summer, and winter break).
Now, I am unsure of the field of accounting I want to pursue and would really love to go back for my MBA. The MBA would take another 14 months. Or 18 months if I opt for two different MBA designations; I cannot decide between marketing and international business. This leads me to the field of accounting which most interests me. I am considering the CPA designation due to its recognition. Personally, I would love to practice cost accounting taking me towards the CMA (Certified Managerial Accountant) certification. Then there is the CIA designation (Certified Internal Auditor). Oh, and then there is Forensic Accounting. This would be a CFE (Certified Fraud Examiner). Now that sounds interesting. I am seriously considering Forensic Accounting.
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Today I am going to share the requirements for becoming a CPA in the Commonwealth of Virginia.
There are four sections of the exam and candidates must pass each section in any order within a “rolling” 18-month period beginning on the date of the first section(s) passed is taken (www.boa.state.va.us/BRegs.pdf).
To practice in the Commonwealth of Virginia an individual must hold a valid CPA certificate or meet the substantial equivalency requirements (holds license in another state).
Original CPA certificate:
- 150 semester hours required
- minimum degree - Baccalaureate (conferred by an accredited college or university)
- at least 30 semester hours of accounting (to include financial accounting, auditing, taxation, & management accounting)
- at least 24 semester hours in business courses (other than those required under accounting semester hours)
- US Citizenship is not required
- Do not have to be a resident, employee, or have office in the sate
- No minimum age
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Experience requirements (http://www.vscpa.org/2004WS/Students/CPAreqs.htm):
Exam (http://www.vscpa.org/2004WS/Students/CPAreqs.htm):
Experience requirements (http://www.vscpa.org/2004WS/Students/CPAreqs.htm):
- at least one year of acceptable experience in accounting or related field (full- or part-time employment that extends over a period of no less than a year and no more than three years and includes no fewer than 2,000 hours of performance of services described) - may include providing any type of service or advice involving the use of accounting, management, financial, tax or consulting advisory skills or services. Acceptable experience shall include employment in government, industry, academia or public accounting or related services. This may be performed under a non-CPA, but must be verified by a CPA prior to sitting for the exam.
Exam (http://www.vscpa.org/2004WS/Students/CPAreqs.htm):
- must pass the exam according to the minimum grade established by the board in all sections of the exam
There are four sections of the exam and candidates must pass each section in any order within a “rolling” 18-month period beginning on the date of the first section(s) passed is taken (www.boa.state.va.us/BRegs.pdf).
To practice in the Commonwealth of Virginia an individual must hold a valid CPA certificate or meet the substantial equivalency requirements (holds license in another state).
Original CPA certificate:
- must submit an application on a form provided by the board documenting the requirements of 18 VAC 5-21-30 have been met.
- must agree to comply with statutes and regulations of any state in which he/she is authorized to practice
If application is received three or more years after successful completion of the CPA exam, additional evidence of having met the CPE requirements and completion of the most recent Ethics CPE course must be submitted as well.
