CPA in PennsylvaniaEXAM

1. Graduate and make sure you meet all requirements

2. Look into prep courses

3. When ready, apply to sit for exam at www.NASBA.org

4. Receive NTS in the mail

5. Schedule exam at www.prometric.com within six months of NTS

6. Take the exam – Pass!

7. Pass all four parts in 18 months

8. Fulfi ll work requirements

9. Apply for license through Pa. State Board of Accountancy

10. Get your CPA license!

10 to CPASteps

Become familiar with these organizations as they will help you along with path to becoming a CPA.

The National Association of State Boards of Accountancy (NASBA)

NASBA is the central clearinghouse for the Uniform CPA Examination, collecting information about eligible candidates, distributing advisory scores and other data, and maintaining a central databaseof candidate records. In addition, NASBA acts as the designated agent for a number of boards ofaccountancy, including Pennsylvania. Visit NASBA’s website at www.nasba.org for exam information and application.

Prometric Inc.

After you apply for the exam at NASBA and receive a Notice To Schedule (NTS), candidates arerequired to contact Prometric Inc. to schedule the examination. Prometric manages datacommunication, registration, scheduling, testing systems, software, and test centers. VisitPrometric’s website at www.prometric.com/cpa to schedule one or all four parts of the CPA Exam.

The State Board of Accountancy (SBOA)

State Boards of Accountancy are the state/territory (or jurisdiction) entities that have statutoryauthority to issue CPA licenses. Each SBOA sets the requirements for CPA licensure in theirjurisdiction. All jurisdictions require that candidates pass the Uniform CPA Examination for CPAlicensure. The Pennsylvania State Board of Accountancy issues Pennsylvania CPA licenses onceall examination and work requirements have been met. Visit the Pennsylvania State Board ofAccountancy’s website at www.dos.state.pa.us/account for licensing inquiries.

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be prepared later.and

Get your

courses pre-evaluated now

PICPA has partnered with NASBA to help you determine if you are taking the courses you need to apply for the CPA exam. Visit NASBA.org for more details.

4 easy steps:1 Complete the pre-evaluation form available at

www.picpa.org/futurecpas.

2 Submit your form and payment ($50) to NASBA.

3 Track your status online at www.nasba.org.

4 Find out if you are on the right track, or get the answers you need to adjust your course schedule.

Pre-evaluations are advisory in nature and are not a fi nal determination of eligibility.

If you have previously passed the Uniform CPA Examination, do NOT submit a form.

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Requirements - Effective Jan. 1, 2012

Requirements to Sit for the CPA Exam

To be eligible to sit for the CPA Exam, candidates must have graduated from an accredited college oruniversity with a bachelor’s degree or higher, and have at least 24 semester credits in accounting subjects. These subjects include accounting and auditing, business law, fi nance, or tax subjects sanctioned by the Pennsylvania State Board of Accountancy. Candidates have 18 months to pass all four parts, beginningwhen the fi rst section is passed.

Candidates can sit for the exam with less than 150 credit hours, however they will be required to completeall 150 before a license is granted.

Requirements to Get Licensed

To earn a CPA license in Pennsylvania, candidates must have passed all four parts of the CPA Exam and fulfi ll both the education and experience requirements.

• Education – Candidates must have graduated from an accredited college or university with a bachelor’s degree or higher, and have at least 36 credits in accounting subjects: 24 credits in accounting and auditing, business law, fi nance, or tax subjects sanctioned by the Pennsylvania State Board of Accountancy, plus an additional 12 credits in accounting, auditing, and tax subjects. Total credit hours must equal at least 150. Accounting related credits can be completed through undergraduate or graduate courses, or a combination of both levels of study, and do not need to be part of a degree program.

• Experience – Candidates must complete one year (1,600 hours) of work experience, with 400 of those hours involving attest activity. All experience must be supervised by an individual who is currently licensed to practice public accounting as a CPA in Pennsylvania or another state. Under the new requirements, work experience is valid for fi ve years (60 months) from the date of application.

Work experience must be in one of the following environments:• Public Accounting• Internal Audit – if reporting to an independent body or similar body• Government Audit – federal, state, or local government audit

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Requirements - Up to Dec. 31, 2011

IMPORTANT: If you passed at least one part of the CPA Exam before Dec. 31, 2011, you may be eligible to become licensed under these requirements.

Requirements to Sit for the CPA Exam

To be eligible to sit for the CPA Exam, candidates must have graduated from an accredited college oruniversity with a bachelor’s degree or higher, and have at least 24 semester credits in accounting subjects. These subjects include accounting and auditing, business law, fi nance, or tax subjects sanctioned by thePennsylvania State Board of Accountancy. Candidates have 18 months to pass all four parts, beginningwhen the fi rst section is passed.

Requirements to Get Licensed

To earn a CPA license in Pennsylvania, candidates must have passed all four parts of the CPA Exam and fulfi ll both the education and experience requirements.

• Education – Candidates must have graduated from an accredited college or university with a bachelor’s degree or higher, and have at least 24 semester credits in accounting subjects. These subjects includeaccounting and auditing, business law, fi nance, or tax subjects sanctioned by the Pennsylvania State Board of Accountancy. Total credit hours must equal at least 120.

• Experience – Candidates must complete two years (3,200 hours) of work experience, with 800 of those hours involving attest activity. All experience must be supervised by an individual who is currently licensed to practice public accounting as a CPA in Pennsylvania or another state. Under the current requirements, work experience is valid for 120 months from the date of application.

Work experience must be in one of the following environments:• Public Accounting• Internal Audit – if reporting to an independent body or similar body• Government Audit – federal, state, or local government audit

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Options for Licensing

Candidates have two choices if they pass at least one part of the exam prior to Dec. 31, 2011.

• 120 Hours | Two Years – A candidate can become licensed with 120 credit hours, 24 of which in the accounting subjects listed above, and two years (3,200) of work experience, with 800 hours in attest.

• 150 Hours | One Year – A candidate can become licensed with 150 credit hours, 36 of which in accountingsubjects, and one year (1,600) of work experience, with 400 hours in attest.

The amount of education completed at the time of the application for a license will determine how many years of experience is required.

How to Apply for your CPA License

Once you pass the CPA exam you are that much closer to getting your license. License requirements vary by state, and every state is different. Verify requirements with the State Board in which you are applying for a license.

Note: Remember once you pass the exam, it does not expire. Work experience does expire – your experience is valid for 5 years (60 months) from the date you apply for your license.

Convenient ways to apply in Pennsylvania

Online Phone

http://www.dos.state.pa.us/account Pennsylvania’s State Board of Accountancy(717) 783-1404

! WORK EXPERIENCE NOT IN PUBLIC ACCOUNTING? You will have a phone interview with a Board member. You will receive an interview notice from the SBOA offi ce after your application has been processed.

$CPA Exam Fees in Pennsylvania

Application Fee $95.00

Audit & Attestation $195.35

Financial Accounting & Reporting $195.35

Regulation $176.25

Business Environment & Concepts $176.25

Exam fees as of Sept. 2012. Check www.nasba.org for the most up to date costs and guidelines.

All fees are nonrefundable and subject to change.

ExamCostsand Fee Structure

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Exam Costs

The table on the left details the current fees for each section of the CPA Exam. Candidates can apply for one,two, three, or four parts at one time, however all parts applied for must be taken within six months of the application date. It is not recommended to apply for a part of the exam unless you are ready to take it within six months. Theapplication fee of $95 is required every time a candidate applies to take one or more parts of the exam, regardlessof how many parts.

Payment Information

• All fees must be paid at the time of the application.

• Payment must be in U.S. dollars.

• Certifi ed checks or money orders must be drawn on a U.S. bank and made payable to CPA Examination Services.

• Re-examination candidates must pay both application and exam fees.

PICPA CPA Exam Scholarships

On average, taking the full CPA Exam can cost about $1,000. This does not include the cost of review courses.PICPA members can apply for a $500 CPA Exam Scholarship to help cover the cost of the exam.

Scholarships are awarded twice a year to qualifi ed candidates selected by the PICPA Member Services Committee.Visit www.picpa.org/cpaexam to apply.

In Pennsylvania it costs $65 to apply for a CPA license.

How to Prepare

✓ Live Prep Course

✓ Online Prep Course

✓ Text Books, CDs, Flash Cards, Etc.

✓ Live Study Groups

✓ Online Discussion Groups

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Practice and Resources

Visit www.cpa-exam.org, created by the American Institute of CPAs (AICPA) and supported by NASBA and individual state boards. This website offers step-by-step instructions on applying for the exam and what to expect when taking it. The website also offers tutorials, sample exams, and general test tips. Content is updated frequently, so visit this site often to get the most accurate information.

PICPA also updates CPA Exam information on a regular basis at www.picpa.org/cpaexam.

Test Prep

PICPA members receive special discounts from these CPA Exam review providers:

For more details, visit www.picpa.org/cpaexam.

NOT A PICPA MEMBER? Join today at www.picpa.org/join to get these benefi ts and more.

CPA Exam Review Course

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Test Content and Areas of Study

CPA Exam sections cover a number of subjects that candidates are expected to understand prior to the test. Below is an overview of the subject matter each section contains.

Auditing and Attestation (AUD)

Tests your knowledge and skills relating to auditing procedures and standards, standards related to attest engagements, and the skills needed to apply that knowledge.

Auditing and Attestation covers the following six topics:1. Engagement Acceptance & Understanding the Assignment 2. Understanding the Entity & Its Environment (including Internal Control) 3. Performing Audit Procedures & Evaluating Evidence 4. Evaluating Audit Findings, Communications & Reporting 5. Accounting & Review Service Engagements 6. Professional Responsibilities (including Ethics & Independence)

Financial Accounting and Reporting (FAR)

Tests your knowledge and skills relating to generally accepted accounting principles for business enterprises, not-for-profi t organizations, and government entities.

Financial Accounting and Reporting covers the following fi ve topics:1. Conceptual Framework, Standards, Standard Setting & Presentation of Financial Statements (fi rst-time adoption

of IFRS) 2. Financial Statement Accounts: Recognition, Measurement, Valuation, Calculation, Presentation & Disclosures 3. Specifi c Transactions, Events & Disclosures 4. Accounting and Reporting for Governmental Entities 5. Accounting and Reporting for Non-Governmental and Not-for-Profi t Organizations

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Regulation (REG)

Tests your knowledge and skills relating to federal taxation, ethics, professional and legal responsibilities, and business law.

Regulation covers the following six topics:1. Ethics, Professional and Legal Responsibilities 2. Business Law 3. Federal Tax Process, Procedures, Accounting, and Planning 4. Federal Taxation of Property Transactions 5. Federal Taxation of Individuals 6. Federal Taxation of Entities

Business Environment and Concepts (BEC)

Tests your knowledge and skills relating to the general business environment and the business concepts required to understand the reasons for, and accounting implications of, business transactions.

Business Environment and Concepts covers the following six topics:1. Corporate Governance 2. Economic Concepts & Analysis 3. Financial Management 4. Information Systems and Communications 5. Strategic Planning 6. Operations Management

Content and Skill Specifi cation Outlines (CSOs/SSOs) that detail the specifi c testable content on each of the exam parts are available through the AICPA. Visit www.cpa-exam.org.

BE PREPARED! Review the tutorial and sample tests at www.cpa-exam.org.

Time needed to study for each section of the exam:

Estimates are a combination of various CPA review courses, without adjustment for low GPA or length of time out of school. Source: The CPA Journal.

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How to Apply for the CPA Exam

Candidates can apply to sit for the CPA Exam through NASBA’s CPA Examination Services department. Candidates can apply for one, two, three, or four parts at one time, however all parts applied for must be taken within six months of the application date. Allow up to six weeks for application processing. Eligible exam candidates will receive a Notice to Schedule (NTS) in the mail for each approved exam section.

Convenient ways to apply

Online Phone

www.NASBA.org CPA Examination Services(800) 272-3926

IMPORTANT: All fi rst-time applicants are advised to read the Information for FT Applicants document and the Candidate Bulletin document, and all re-examination applicants are advised to read the Information for RE Candidates Bulletin, before applying for or rescheduling the exam. Documents can be found at www.NASBA.org.

All applications must be complete and accurate. Failure to submit required documentation, forms, and fees will delayprocessing and result in denial of application.

For questions regarding eligibility to sit for the exam, contact the Pennsylvania coordinator at cpaes-pa@nasba.org,(800) CPA-EXAM, or (615) 880-4250.

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Schedule the CPA Exam

Convenient ways to schedule

Online Phone

www.prometric.com/cpa(receive an instant e-mail confi rmation)

(800) 580-9648

Once an eligible candidate receives an NTS, it is advised to schedule a testing appointment as soon as possible. Each NTSis valid for six months from the date on the NTS letter. Tests are scheduled on a fi rst-come, fi rst-serve, basis. The earlier a can-didate schedules a testing appointment, the better the chances are of obtaining the location, date, and time of choice. Tests must be scheduled at least fi ve days in advance, and walk-in testing is not allowed.

Testing Dates

The CPA Exam is available fi ve days a week during eight months of the year.

The exam is not available in March, June, September, or December.

January February March April

May June July August

September October November December

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Lancaster1864 Fruitville Pk.Kmart PlazaLancaster, PA 17601

Monroeville4055 Monroeville Blvd.Building 1, Suite 425Monroeville, PA 15146

Philadelphia601 Walnut St.Curtis Center, Suite 150West Philadelphia, PA 19106

Pittsburgh (North Hills)Pittsburgh Research Pk.5700 Corp Dr., Suite 400Pittsburgh, PA 15237

For other test locations, visitwww.prometric.com/cpa.

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Looking for a Testing Site in Your Area?

Below is a list of Prometric testing centers and their locations in Pennsylvania.

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Allentown2211 Mack Blvd.Allentown, PA 18103

Clarks Summit 233 Northern Blvd., Suite 4Clarks Summit, PA 18411-2222

Conshohocken100 W. Elm St., Suite 300Conshohocken, PA 19428

Erie7200 Peach St. Suite 440Summit Town CentreErie, PA 16509

Harrisburg1100 N. Mountain Rd.Harrisburg, PA 17112

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Statements of fact do not imply an opinion on the part of PICPA offi cers or members. Information printed as of October 2012. Copyright © 2012 PICPA. All Rights Reserved.

• You can take the exam in any U.S. state and outside the U.S. Visit www.nasba.org for international locations.

• You can earn credits through any accredited college or university and the credits do not have to be a part of a degree program to count toward the 150 credit requirement.

• All educational credits earned outside the U.S. must be evaluated by one of the following organizations:

Educational Credential Evaluators Inc.(414) 289-3412 | www.ece.org

Foreign Academic Credentials Service Inc.(618) 656-5291 | www.facsusa.com

Josef Silny & Associates Inc.(305) 273-1616 | www.jsilny.com

• Exam testing is available the fi rst two months of every quarter: January, February, April, May, July, August, October, and November.

• There is a coordinator at NASBA just for Pennsylvania candidates! E-mail cpaes-pa@nasba.org.

• CPA Examination Services will contact you on behalf of thePennsylvania SBOA to send you your grades or to inform you when you have passed all four parts of the exam.

• Once you have passed all four parts of the exam, your completed exam credit will never expire.

18 You have 18 months to pass all four parts once you pass the fi rst section.

6 You must schedule your exam within six months of the date on your NTS letter.

75 The passing score for each part is 75. This does not represent percent correct.

5 Your work experience expires after fi ve years. Contact the Pa. SBOA for more details.

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CPA

How Can PICPA Help?More than 20,000 accounting professionals belong to the Pennsylvania Institute of Certifi ed Public Accountants. PICPA members collaborate to improve the profession and better serve the public interest. Membership provides valuable resources and connections to advance your career.

Belong to the most prestigious accounting association in Pennsylvania. There is a membership category for every stage of your career. Whether you are a student,an accounting educator, or a professional, PICPA can help you propel your career. Visit www.picpa.org/join for more information.

Contact the PICPA Careers in Accounting Team

www.picpa.org

Online Phoneschools@picpa.org (215) 496-9272

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Pennsylvania Institute of Certifi ed Public Accountants