How to Become a CPA in Nebraska

The state economy of The Cornhusker State should be of special interest to anyone who is hoping to become a CPA in Nebraska. With a total population of 1,920,076 in 2017, Nebraska is ranked was 37th in the nation. Of these nearly 2 million residents, the average Per Capita Personal Income was $50,809, close to the national average. The state uses all of this extra mid-western space for agriculture, exporting beef and beef products and by-products, and pork and pork by-products more than anything else.

Nebraska also exports hundreds of millions of dollars in corn, soy, and wheat. They produce the same amounts of farm equipment and machinery and mechanical spraying equipment for farming. The largest industry in Nebraska in 2017 was finance. Now all you have to do is think about what your focus will be on your educational journey to becoming a CPA. Will you get a master’s degree in accounting? Or will you earn an online graduate certificate in taxation?

The state song “Beautiful Nebraska” pretty much sums up the state, along with the nickname “Cornhusker State,” and their state motto Equality Before the Law. Nebraska straddles the Midwest and the Great Plains. The Great Plains, however, make up the majority of the state’s terrain and is primarily made up of treeless Prairie land. The other terrain that makes up the state is the Dissected Till Plains, which is made up of subtle rolling hills. The largest city in the state, Omaha, sits on the Missouri River, and the capital city is Lincoln. Kansas is surrounded by Iowa, South Dakota, Colorado, Missouri, and Wyoming. They have been using their current flag since 1925, which is the state seal in the center of a national blue background. The state’s official soft drink is Kool-Aid. The political orientation of New Hampshire is solidly Republican. The weather condition that Kansas is most known for is the tornadoes and thunderstorms that are prominent in the Spring and Summer.

A little-known fact about Kansas, the fictional setting of the Children’s Story the Wizard of Oz, the whole thing is about accounting. L. Frank Baum, a pragmatic bookkeeper and financial journalist himself, and the story’s author created the vivid characters to warn about the impending dilemma young people would surely soon face in the economic climate. In the picture, this author painted about current events of the era. The emerald city represented the money of capitalism, the witch of the East was to be the east coast greedy businessman. The scarecrow was the failing agriculture climate, and the tim man was the failing manufacturing.

Nebraska Accounting Programs

The Association to Advance Collegiate Schools of Business has granted accreditation to three schools in Nebraska. These three are the University of Nebraska at Omaha and their College of Business Administration, the University of Nebraska at Lincoln and their College of Business, and Creighton University and Heider College of Business. UN- Omaha is a Public Master’s University located in Omaha. They offer programs in accounting Full-Time, Part-Time, and Evenings and Weekends for bachelor’s and master’s level students. Of the 66 full-time business faculty, 54 of them have a terminal degree in accounting or business. The University of Nebraska at Lincoln’s College of Business is in the same university system as Omaha, but they are fully independent entities.

The College of Business in Lincoln, for instance, was founded in 1913 and offers the only Ph.D. in business in the state of Nebraska. It is located in a public research university and offers full and part-time degrees in accounting at the doctoral, master’s, and bachelor’s levels. They have 108 full-time faculties with 96 terminal degrees in business and accounting between them. Creighton University Heider College of Business is not in the U of Nebraska system, and is, in fact, a private master’s university. They are also located in Omaha, and the Heider College was founded in 1920. They offer a full-time program in accounting for undergrads, a program for master’s in accounting students, and a general business doctoral degree. Of the 68 business and accounting faculty members in, 88% of them have a terminal degree in their field.

Becoming a CPA in Nebraska

In Nebraska there is no age requirement to become a CPA in the state, nor is there a citizenship requirement. Students do, however, have to have state residency in order to qualify for the exam, and also hold a social security number. The education requirement includes 150 hours of study, which includes a bachelor’s degree. The hours of accounting include 30 semester hours, or equivalent quarter hours, which can go beyond accounting principles. Students must complete 150 hours in order to sit for the exam. A minimum of two years of public accounting experience or three years of auditing experience in the Department of Revenue or within the Office of the Auditor of Public Accounts is required. Students have the option instead of serving three and a half years of employment through the IRS as a special agent, or federal government to qualify. The state of Nebraska also requires students to pass the AICPA Professional Ethics Exam in order to achieve licensure.

Nebraska Post Licensure Requirements For CPAs

In the state of Nebraska, every CPA must renew their license biennially on years that are odd or even based on the CPA’s birth year. For example, if the licensee was born in 1979, they would report on the odd years, but 1988-born CPAs would report on the even years. The CPE reporting period goes from January 1 to December 31 biennially, and similarly, it is on odd or even years based on birth year. There are 80 general requirement hours in total, and four additional mandatory hours for the ethics requirement. There are no other subject area requirements. There are some credit limitations that are important to be mindful of: CPE hours can be granted from committee meetings, however, the limit is 16 hours for technical meetings. Firm meetings are not accepted unless there are special circumstances including if the program is formally delivered by an instructor with appropriate qualifications, and is made up of 50 minutes of continuous instruction. An outline of the program with a preparation timeline that was made up prior to the presentation must be submitted. CPAs who are academic instructors at a college or university level can also receive credit for conducting classes, however, this can only add up to 50 percent of their total hours. Similarly, authorship credits are an option, but can only include up to 16 credit hours. For CPAs who have returned to school, 50 percent is the maximum credit limit for their academic coursework.

For academic instructors, credit can be granted both for the time that they present and also for their preparation. Preparation, however, has a limit, and can not go beyond two times the amount of time as the presentation. If the same presentation is repeated it is not eligible for the credit. If old materials are improved upon or updated, however, there is the possibility of being granted 10 additional credits for classes that were already presented. If a CPA returns to college or university they can achieve 15 CPE credits per semester hour. For classes that are not credit granting, for every classroom hour students will get credit for a qualifying hour. The state of Nebraska usually accepts CPE credits that are delivered by National Registry Sponsors.