Accounting is a highly-specialized field. Because of the rapid change in tax laws and regulations, accountants take part in continuing education programs to stay updated on developments in laws and accounting practices. It is important that CPAs know the CPE requirements of the state they work in.
Professional development helps certified public accountants (CPAs) get the qualifications, skills and experience which enable them to progress in their career. CPAs should meet continuing education requirements that the State Board of Accountancy requires. Below are the reasons why CPA should take continuing professional education (CPE).
It is a Licensure Requirement
The majority of states require that practicing CPAs must get further education in order to sustain their licensure. The number of CPE hours required varies by state. To know the number of hours to complete every year, CPAs can check their CPA licensure requirements. Usually, they have to complete between 40 and 120 hours. In addition, there can be expectations on the courses they have to take. For instance, it is important to complete at least 8 hours of in accounting and auditing. There are also CPE for CEO CPAs.
Additional CPE Credits are Required for Membership to the American Institute of CPAs (AICPA)
CPE credits are not only a requirement at the state board level. Many accounting firms demand that their CPAs uphold their membership to the AICPA. CPAs can keep their membership in tact by completing 123 CPE course hours every 3 years. CPAs can get these hours from different means apart from a formal program of education.
Today, a lot of CPAs consider learning online and taking advantage of self-study programs to get their CPE hours done in time. CPE courses offered online work for CPAs who are already working in an accounting firm on a full-time basis.
To Help CPAs Improve Themselves
CPE courses online like practice management CPE can help CPAs improve themselves professionally. They can learn about many relevant things that can add positive entries to their resume. As they search for a job opening in an accounting firm, they can easily tailor their learning to fit the technical specifications of that business. Moreover, CPAs who keep their knowledge of laws, loopholes and tax issues up-to-date are more efficient in doing their job.
The fact is that taking part in professional development activities is a career obligation. Accountants can only progress in their career if they are open to learning new skills. Sometimes, their organizations may require them to attend conferences or participate in educational workshops. But they also need to actively look for their opportunities. No matter what age or stage an accountant is at in his career, he needs to make learning a priority.
To Increase Earning Potential
CPAs who complete their CPE hours expect to earn more than what they do now. After becoming a member of the AICPA, a CPA becomes more trustworthy as an accounting professional. Such membership can help him easily get hired by accounting firms looking to hire CPAs with advanced education.
Author Bio: Tad Stephens – Founder and Director of Cpethink.com Ltd. Has sold over 100,000 CPE courses online since 2004, worked with 50+ authors and published his book on Internet Marketing on Amazon.com in 2014.