Frequently Asked Questions
What are the requirements to sit for the CPA exam?
Check out NASBA.org for detailed requirements.
You must have:
- Completed a baccalaureate degree program from an accredited academic institution.
- Completed at least 24 credit hours in accounting courses including:
- Financial Accounting
- Managerial Accounting
- US Tax
- Accounting Systems and Controls
- Government/Fund Accounting
- Completed 24 credit hours in general business courses.
- Completed all academic requirements within 30 days of sitting for your fist section.
What are the requirements to receive my CPA License?
Check out the State of Michigan's DELEG website for licensing requirements.
You must have:
- Passed all four parts of the CPA Exam within 18 months
- Completed 150 credit hours at an accredited academic institution.
- Acquired 2,000 hours of qualified experience under the supervision of a licensed CPA.
- Obtained experience with at least one financial audit.
What careers paths are available in accounting?
Public accounting promises a fast-track accounting career that can lead into a wide variety of opportunities. Traditionally, public accountants audit financial information and prepare tax returns. They also offer a much broader array of services to help their clients become more successful. For example, public accountants helped determine the value and market price for the Initial Public Offering (IPO) of Steelcase's stock before it went public. They helped establish the value of Princess Diana's estate and monitored its distribution. Accountants are involved on both sides of many investigations involving white collar crimes, security violations, and fraud.
Industry or Managerial Accounting
Industry and Management Accounting offers a rewarding career working inside leading corporations. Accounting assists managers to evaluate their company's operations and manage strategies using concepts such as: target costing (which supported Toyota's design of the Camry); activity-based management (which enabled Compaq to weed out millions of dollars of wasteful costs); economic value added (EVA) (which assists Coca-Cola in determining the wealth it creates for its stockholders); and the balanced scorecard (which helps MOBIL evaluate performance relative to responsibilities to employees, customers, stockholders, suppliers, and the community).
Internal Auditors work inside major corporations, verifying the accuracy of internal records. They analyze the financial systems of a company and examine the management processes and internal controls of the organization. They evaluate the efficiency of operations and check for compliance with both corporate policies and government regulations.
From the mundane to the magnificent, accountants are involved in government. Accountants help government run smoothly at all levels by identifying waste and abuse, and by serving as trusted advisors to determine if the right activities are being conducted in the right way.
What are some job positions that I might hold with an accounting degree?
Accountant Accounting Systems Designer Actuary Assistant Controller Auditor Bank Examiner Benefits/Compensation Administrator Budget Analyst Business Teacher CIA Agent Claims Adjuster Collection Agent Commercial Banker Commodities Trader Compliance Officer Consumer Credit Officer Cost Accountant Estate Planner FBI Agent Financial Accountant Financial Aid Director Financial Analyst Forensic Accountant Fund Raiser Governmental Accountant Industrial Buyer Internal Auditor Inventory Control Specialist IRS Investigator Loan Administrator Management Analyst Management Consultant NSA Agent Payroll Manager Personal Financial Advisor Project Accountant Responsibility Accountant Revenue Agent Securities Broker Stock Broker Systems Analyst Tax Accountant Tax Examiner Tax Manager/Tax Specialist Treasurer/Controller Underwriter.