Earning your Certified Public Accountant’s license is a difficult task. What’s worse is that every state has different requirements that vary depending on the time frame in which the candidate is seeking licensure. Read on to find out the exact requirements to qualify for the CPA in Colorado.
The education requirements for becoming a CPA in Colorado depend on whether or not you will be seeking your license before or after July 1, 2015. Prior to this date, the only requirement is a degree in accounting, or a degree in another degree with a supplemental concentration in accounting. Specifically, you must have twenty-seven hours in accounting to be eligible.
After July 1, 2015, you must meet the increasingly common “150 hours” rule. This rule states that in addition to your bachelor’s degree, you must obtain an additional thirty hours of upper division course work. This work need not be in accounting, but after the cut-off the twenty-seven hours of accounting courses must be upper division. In addition, six credit hours must be in auditing.
In addition to meeting the education requirements, a candidate must satisfy the experience requirement as well. Once again, there is a difference depending on whether the candidate is seeking licensure before or after the cut-off date. After July 2015, the candidate must have one year of experience working under a CPA or at a CPA firm. Prior to that date, the candidate can replace this work requirement with 150 credit hours (total), forty-five of which must be in accounting. Like above, six of those hours must be in auditing.
What some consider the most difficult challenge to obtaining the CPA license is, of course, the CPA exam. The CPA exam consists of four portions:
- Auditing and Attestation
- Business Environment and Concepts
- Financial Accounting and Reporting
Each test has its own topics, its own time limit, and its own varying degree of difficulty. Once all four sections have been passed, there is an ethics test which must be taken through the AICPA.
Now that you’ve learned the requirements for obtaining your CPA in Colorado, good luck! For further information, see the following resources from the AICPA and other reputable sources.