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**Everything You Need To Know Before Applying For Your CPA Exam
**
Now that you have decided to become a Certified Public Accountant and have studied diligently for the same, here are few must-know things before you start applying for the exams.
Applying for the CPA exam can be confusing as there are a number of steps involved. You need to be very precise and get it right else your application can get rejected.
Worse-case scenarios - This could set you back a few more months, or far worse, you will end up paying unnecessary extra fees.
This article will help you understand the process of applying for the CPA exam so that you have the complete information to apply for the exams without making any mistakes. The CPA exam application involves broadly 4 steps:
- Identifying which state you are eligible from
- Selection of an acceptable evaluation agency
- Credential evaluation of your foreign education
- Application of exams i.e Notice to Schedule (NTS) to the state
Let’s understand the process in detail so that you can start studying and preparing for the CPA sections rather than losing yourself in the myriad of information available on the net.
1. Make Sure You Are Eligible
The first step is to determine if you are eligible to take the CPA Exam and if yes then in which state. Many people start filling out their applications before they are even qualified to sit for the exam. Months later after investing crucial time and money they hear that it got rejected. There are 55 states in the US and for the US CPA Exam, each state has different educational requirements to sit for the exam and licensure. However, most states require a minimum bachelor’s degree in commerce/accounting/business administration with specific credit hours in accounting and business. You need to cross-check your educational background with the list of requirements, after which you are ready to start your evaluation process and then the exam application. It is important to note that applications can be submitted at any time during the year.
2. Send Official Transcripts to the US Evaluation Agency
You need to send in all your university transcripts to your shortlisted evaluation agency. Once the evaluation agency receives your transcripts they will evaluate based on the current state board rules and send one report to the specific state board you have selected. Once the educational evaluation has been successfully submitted to the state, you are ready to apply for NTS (exam application) with the state. Please note that each step involves a considerable amount of money and time. Hence we at Miles place great emphasis and care in the process of identifying the one correct state board and agency for you.
3. Submit CPA Exam Application and Fees
Just as your transcripts are submitted to your evaluation agency, you have to fill out the exam application. This includes a form which has a bunch of personal and academic questions. After you have filled out the form, you can send it in with the application fees for final approval by the state which will allow you to sit for the exams.
4. Obtain Your Notice to Schedule
It takes around 4-6 weeks after applying for the CPA exam to receive your NTS in the mail. This is a legal document that allows you to sit for and take the CPA exam. Each state charges a different exam application fee which ranges from $100-$250. However, the exam fee per section is standard across all states i.e $208 per section (fee as per Feb 2019, the fee is subject to change by the state boards without any notice).
You will use this document to log onto the Prometric website to schedule your exam date.
NOTE: It is advisable not to sign all the exam parts at once. You have six months from receiving your NTS to schedule your exam dates. If you are unable to write the exams within the NTS validity window, your exam fees will lapse and you will have to pay it again.
You should ideally sign up and pay for the sections that you want to take in the next six months, as you can sign up for the rest later.
5. Schedule Your Exam With Prometric
Once you have your Notice to Schedule, you can easily log onto the Prometric testing centre website and schedule your exam date. This will require the exam section ID from your NTS and the location of the testing centre that you wish to take the exam at. The best part is, you can schedule your exam at any Prometric testing centres within the US, UAE and India*.
* As per the official announcement, CPA exams can be taken in India for the months of June and September, 2020. We are hopeful that the testing period will be further extended.
6. International Testing
To write the exams in testing centres in the Middle East (India, UAE, Bahrain etc) one needs to pay the additional fees after obtaining the NTS. Once the additional fee is paid, one can schedule exams at the international locations. The additional fee is around $350 per section (data as per Feb 2019, fees are subject to change without any notice).
7. Pass the Exam
Preparation for CPA Exam needs determination and coaching. With the support of our online videos and classroom classes, and under the guidance of our able national instructor Varun Jain and his team of CPAs, we help you not only prepare for the exams but also with an end-to-end process of eligibility to schedule your exams. Once you get through, we help you get your CPA license and provide placement assistance to get a great career start or progression as the case maybe.
To know more about how to be a successful CPA, grab your opportunity to meet and be counselled by a team of CPAs, only at Miles Education.
Disclaimer: Miles Education is the official partner of AICPA recommended CPA program for Accounting and Finance Professionals.
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