A CPA firm is an organization composed of finance and marketing experts. They are the best of the best of the business world. If you're not familiar with the duties and responsibilities of these companies, this article will help you appreciate them a lot. While you may be thinking they are all about tax preparation only, you will be surprised as to how wrong you are. A CPA Firm hires various people for a multitude of tasks. Great team work is at play when these members of the team come together.
The job outlook for CPAs is expected to be much faster than average, with an increase of 22 percent between 2008 and 2018. Most certified public accountants work full-time. Approximately 20 percent of CPAs work more than 40 hours per week.
Education - Minnesota Board of Accountancy requires at least a bachelor's degree with a concentration in accounting from an accredited school.
Pass the Uniform CPA Exam in Minnesota.
Work Experience - At least one year or 2000 hours
Education
The first step in becoming a certified public accountant in Minnesota is to earn a bachelor's degree or higher in accounting or a related field. You must complete 150 hours of education before you earn your CPA certificate. There are some schools that offer a combined bachelor's and master's degree program in accounting, but a master's degree is not required. Your 150 semester hours of education must include 24 hours of graduate or upper division courses in auditing, taxation, management accounting and financial accounting. You must also take an additional 24 semester hours of graduate or undergraduate accounting or business-related courses.
Exam
Once you have completed your degree, you will be eligible to sit for the CPA examination. Start collecting the necessary documents (official transcripts), based upon your educational status at the time of the exam as well as proof of Minnesota residency. You can apply for the exam here. The CPA exam has four sections and each one can be taken at separte times but expect at least 14 hours. An application fee ($1,000 - four sections) is required every time you apply for CPA in Minnesota. In 2012, the nationwide pass rate was 49% and statistically Minnesota falls in the same range.
Experience
As stated in the Uniform Accountancy Act and as maintained by the Minnesota Board of Accountancy the applicant is required to have one year or 2000 hours of accounting experience. Your supervising CPA will need to verify this by filling out the CPA Experience Verification form. Active CPAs must also meet continuing education requirements every there years in order to keep an active CPA certificate.
Resources for CPA In Minnesota
For more information on CPAs in Minnesota please visit the non-for-profit professional orgainization The Minnesota Society of Certified Public Accountants (MNCPA). Serving accountants since 1904, they provide great educational, employment and networking resources for both the individuals and businesses. An individual membership does require a CPA certification from any state.
You have several great firms to choose from in the Minneapolis - St. Paul area. However, Simma, Flottemesch & Orenstein is one of the best. This CPA firm was first founded in 1975 and dedicates itself to providing excellent service to all clients whether you're an individual or a corporation. We collaborate with every client to manage and identify tax savings, provide support, and develop the smartest plan to reach your next level. Call us at 612.337.8100
CPA Requirements in Minnesota
Why CPA?
First, let's start with the benefits of having the CPA designation and how it could help your career in Minnesota or anywhere in the country. CPA stands for certified public accountant and a professional who examines, prepares financial statements and records. Some of the other job duties of a CPA may include computing taxes, maintaining and organizing financial records and suggesting ways to increase revenue while decreasing costs. While Bookeepers share a lot of tasks, they're more of technicians/clerks and lack the education and experience CPAs have. Besides a higher salary, one of the main differences between a CPA and accountant/bookkeeper is the level of responsibility. The certification allows them to perform tax advice, financial planning, retirement planning and internal auditing for non profits, corporations or individuals.The job outlook for CPAs is expected to be much faster than average, with an increase of 22 percent between 2008 and 2018. Most certified public accountants work full-time. Approximately 20 percent of CPAs work more than 40 hours per week.
CPA Requirements In MN
There are three main steps necessary in receiving the certification in Minnesota:Education - Minnesota Board of Accountancy requires at least a bachelor's degree with a concentration in accounting from an accredited school.
Pass the Uniform CPA Exam in Minnesota.
Work Experience - At least one year or 2000 hours
Education
The first step in becoming a certified public accountant in Minnesota is to earn a bachelor's degree or higher in accounting or a related field. You must complete 150 hours of education before you earn your CPA certificate. There are some schools that offer a combined bachelor's and master's degree program in accounting, but a master's degree is not required. Your 150 semester hours of education must include 24 hours of graduate or upper division courses in auditing, taxation, management accounting and financial accounting. You must also take an additional 24 semester hours of graduate or undergraduate accounting or business-related courses.
Exam
Once you have completed your degree, you will be eligible to sit for the CPA examination. Start collecting the necessary documents (official transcripts), based upon your educational status at the time of the exam as well as proof of Minnesota residency. You can apply for the exam here. The CPA exam has four sections and each one can be taken at separte times but expect at least 14 hours. An application fee ($1,000 - four sections) is required every time you apply for CPA in Minnesota. In 2012, the nationwide pass rate was 49% and statistically Minnesota falls in the same range.
Experience
As stated in the Uniform Accountancy Act and as maintained by the Minnesota Board of Accountancy the applicant is required to have one year or 2000 hours of accounting experience. Your supervising CPA will need to verify this by filling out the CPA Experience Verification form. Active CPAs must also meet continuing education requirements every there years in order to keep an active CPA certificate.
Resources for CPA In Minnesota
For more information on CPAs in Minnesota please visit the non-for-profit professional orgainization The Minnesota Society of Certified Public Accountants (MNCPA). Serving accountants since 1904, they provide great educational, employment and networking resources for both the individuals and businesses. An individual membership does require a CPA certification from any state.
You have several great firms to choose from in the Minneapolis - St. Paul area. However, Simma, Flottemesch & Orenstein is one of the best. This CPA firm was first founded in 1975 and dedicates itself to providing excellent service to all clients whether you're an individual or a corporation. We collaborate with every client to manage and identify tax savings, provide support, and develop the smartest plan to reach your next level. Call us at 612.337.8100
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