There are many reasons why professionals may want to become a Certified Public Accountant in Connecticut. Firstly, being a CPA in Connecticut opens up a range of career opportunities in various accounting and financial fields. CPAs are respected professionals that are sought after for their expertise in financial reporting, taxation, auditing, and consulting. These accountants are in high demand in industries such as public accounting, government, nonprofit organizations, and private sector companies.
Secondly, becoming a CPA in Connecticut demonstrates a high level of commitment to the accounting profession. Connecticut is known for having stringent eligibility requirements for the CPA exam. By achieving the CPA designation, individuals demonstrate their dedication to the accounting field and their ability to meet high standards of ethics and professionalism.
Are you wondering what the process of becoming a CPA in Connecticut looks like? Let’s dive in.
Connecticut is the land of enormous insurance companies, including The Hartford, Cigna, and Aetna. They dominate the business environment in the state alongside a dozen other Fortune 500 companies. According to the NAIC, these entities contributed almost 70 billion dollars to Connecticut’s GDP in 2020.
The golden rule in any insurance company is to get the numbers right. Running at optimal performance means hiring competent CPAs to get the job done. Accountants at these organizations handle the typical duties of payroll and corporate book-balancing. They also serve critical roles in the actuarial data and calculations that make the difference between profit and loss for corporations.
Are you interested in becoming a CPA in Connecticut? You may want to take on one of the lucrative corporate roles in a major insurance corporation. You may want to set up shop offering specialized tax accounting and financial advising services. No matter the destination, this path will get you there.
Here are the Steps to Become a CPA in Connecticut:
- Getting Your CPA Education in Connecticut.
- Taking the Uniform CPA Exam in Connecticut.
- Gaining the Needed Experience in Connecticut.
- Getting Your CPA License and Continuing Education in Connecticut.
Getting Your Education in Connecticut
Start your journey by researching which Connecticut universities offer programs in accounting. The Connecticut State Board of Accountancy has CPA license applicants complete a bachelor’s degree at minimum and work through 150 credit hours of college coursework.
Most accounting undergraduate degrees include 120 credit hours. Earning a Master’s in Accounting or a certificate is the standard way to get the thirty additional credits needed to become a CPA in Connecticut. Many programs are available entirely online. Future CPAs in Connecticut can find specialized five-year CPA programs that offer an undergraduate and graduate curriculum designed to give professionals the 150 semester hours needed to meet CPA requirements.
Connecticut’s CPA coursework and degree requirements ensure these professionals are adequately trained for the rewarding position. Combined, bachelor’s and post-bachelor classes consist of 150 semester hours. They include the following combination of accounting and business courses:
- Thirty-six credit hours in accounting courses (this may include basic or introductory accounting courses).
- Thirty credit hours in economics and business administration courses.
The Connecticut State Board of Accountancy accepts all applicable credits and degrees earned through any university or college in the U.S. accredited by any regional accrediting organizations sanctioned by the Department of Education.
What is a Quality Online Master’s Degree in Connecticut?
The University of Connecticut delivers an online accounting master’s degree that prepares graduate students. They learn about industry changes, demands, and certifications. The industry-relevant coursework features an online bridge program designed for non-accounting professionals.
UConn’s online master’s degree in accounting program helps distance learners develop their business foundational knowledge with strategic accounting and financial skills. The online program is among the first in the United States to feature a curriculum focusing on the accounting trends and techniques outlined by the American Institute of Certified Public Accountants in the CPA Evolution initiative.
A Master’s in Accounting curriculum includes courses that give students in-depth knowledge and skills in accounting. Many accounting courses cover the following skills or concepts:
|CPA Exam Preparation
|The CPA (Certified Public Accountant) exam is a robust test for aspiring accounting professionals.
|Managerial accounting refers to gathering, analyzing, and presenting financial information.
|Analyzing and Discussing Strategic Accounting Issues
|Auditing and accounting are essential for an enterprise’s financial growth and health.
|Advanced Auditing Skills and Knowledge
|Auditors are crucial in ensuring an organization’s funds are appropriately managed.
Taking the Uniform CPA Exam in Connecticut
First, you must secure your undergraduate degree and complete at least forty-six credit hours of business and accounting courses. Twenty-four of the hours must be accounting courses. Once these education requirements are met, you can apply for the Uniform CPA Exam. At least one of the courses at the time of the exam must be in business law. One course must be in finance. At least one course must be in economics.
CPA exam takers in Connecticut can apply through CPA Examination Services (CPAES). They register online. If applying by mail, they send the completed application and needed documents to:
CPA Examination Services
P.O. Box 198469
Nashville, TN 37219-8469
Gaining the Needed Experience in Connecticut
The Connecticut State Board of Accountancy expects all CPAs to fulfill their work experience prerequisites before it issues a certificate and license. Before commencing the experience requirement, candidates must pass the AICPA Professional Ethics for CPAs self-study course. The course is ordered through the Connecticut Society of CPAs here. It is a self-study, paper test that the AICPA scores. The results are mailed to the Connecticut State Board of Accountancy.
All aspiring CPAs must satisfy accounting experience requirements as spelled out by the Connecticut State Board of Accountancy regulations. The work experience may be paid, volunteer, or internship. All work must be supervised by a CPA holding a license or certificate for at least three years. Future CPAs in Connecticut can check with their business school’s career center to learn more about qualifying opportunities.
Applicants accomplish two years (or 104 weeks) of full-time work experience in accounting. They perform work that meets U.S. Generally Accepted Auditing Standards (GAAS) and Generally Accepted Accounting Principles (GAAP). Qualifying experience can be obtained through public practice, industry, or government practice. Competencies obligated to be performed in work experience vary according to the type of work environment.
Getting Your Connecticut CPA License
Connecticut is a two-tier state. Candidates must fulfill an undergraduate degree and a specific number of college courses. They must also pass the Uniform CPA Exam and meet experience requirements. Applicants will then become certified. These professionals then apply for a state CPA Certificate and CPA license.
The following checklist helps you determine if you are ready to apply:
|Complete 150 credit hours of college education and receive an undergraduate degree.
|Apply through CPA Exam Services to take the Uniform CPA Exam.
|Have all college transcripts forwarded directly to the Board.
|Meet the Board’s work requirements of two years/104 weeks of volunteer, paid, or internship work experience.
There are different types of credentials to apply for:
Candidates apply for this only if they do not plan to work for public accountancy firms or use the credentials “CPA.” This is the lowest level. It is not state regulated as a CPA license. This credential is reserved for those planning to work in other forms of industry like legal or information technology. Use Connecticut’s licensing form and check the box for certificate only if this is your plan. Remember to include the appropriate fees.
CPA Certificate Registration
When applying for a CPA Certificate, register that certificate with the Board for limited use of the CPA credential. When registering for a CPA certificate, candidates use the credentials CPA for non-business like on personal stationery, checks, and personal correspondence. They do not use it in connection with business reports like certification on a financial statement or tax return. The same licensing form is used for this purpose. Applicants must check the appropriate box and include the correct fees.
CPA Certificate and CPA License
This is the scenario most applicants take. Candidates can apply for their certificate and license simultaneously. They can do so via the same licensing form. Candidates check the appropriate box and include the correct fees.
Acquiring your CPA Certificate and License allows professionals to use the title and credentials CPA in all formats. They can also get jobs as CPAs and become owners in public accountancy firms.
CPA Firm Permit to Practice
This form is used after one receives a CPA Certificate and License. The permit is used only by CPAs planning to establish independent CPA firms. They must use the form to do the following:
- Establish an initial entity’s permit to practice.
- When the firm’s form of practice changes (with a partnership, sole proprietorship, limited liability corporation, etc.).
- When the name of an organization changes.
- When a new firm is replacing an existing firm.
Connecticut’s Continuing Professional Education
All licensed CPAs in Connecticut complete a predetermined number of continuing professional education (CPE) hours to maintain their licenses. (Professionals holding certificates or registered certificates but not licenses do not have CPE requirements to fulfill).
Connecticut CPAs must complete forty hours of CPE annually. They may receive credit for no more than sixty hours of CPE annually. Twenty hours of CPE can be carried over to the following year. Sixteen hours of CPE must be in attest or compilation services.
The following educational scenarios are suitable for CPE credit:
- Individual study programs.
- Instructing, presenting, or lecturing.
Becoming a CPA in Connecticut
CPAs in Connecticut have vast opportunities to lead successful careers. This guide was written to give you a fast track in understanding what it takes to become one. Get your education, take the Uniform CPA Exam, gain the needed experience, and watch your fruitful career as a Connecticut CPA take flight.