New Jersey CPA State-Specific Requirements
New Jersey offers an excellent platform for aspiring Certified Public Accountants (CPAs). To become a CPA in the state, one must meet specific educational, examination, work experience, and ethical requirements set by the New Jersey State Board of Accountancy. This guide provides a detailed overview of the CPA licensure process in New Jersey.
Educational Requirements
The educational criteria for CPA candidates in New Jersey are:
Bachelor’s Degree: Candidates must hold a baccalaureate degree from a regionally accredited institution.
Credit Hours: At least 150 semester hours of general college-level credit, including:
24 semester hours in accounting courses.
24 semester hours in general business courses.
Work Experience Requirements
New Jersey requires:
One Year of Experience: Candidates must complete one year of full-time work experience in professional accounting or its equivalent under the supervision of a licensed CPA. Part-time work extends the requirement to two years.
Fields of Work: Experience can be in public accounting, academia, government agencies, or private industry. Self-practice is not considered valid experience.
Ethics Exam
Candidates are required to pass the New Jersey Law and Ethics Course, a four-credit course approved by the state board, within six months before or after obtaining the CPA license.
International CPA Examination Program
New Jersey does not participate in the International CPA Examination Program. International candidates must apply through a participating jurisdiction.
CPA Exam and Licensing Fees
The cost associated with the CPA examination and licensing in New Jersey includes:
Initial Application Fee: $160.00
Examination Fees (per section):
AUD: $238.15
BEC: $238.15
FAR: $238.15
REG: $238.15
Total for all sections: $1,112.60
Re-examination Fee: $80
Licensing Pathways and Fees
Application by Examination: No initial application fee. Final licensure payment required upon approval.
Application by Transfer of Grades: $75 fee for NASBA International Evaluation Services.
Application by Endorsement: $175 application fee.
Licensing Fees Based on Triennial Period
First Year of Cycle: $90
Second Year of Cycle: $60
Third Year of Cycle: $30
License Renewal and CPE Requirements
Renewal Cycle: Every three years, with a renewal fee of $90.
CPE Requirements: 120 credit hours, including:
60 hours in technical subjects.
24 hours in accounting and auditing.
Minimum of 20 hours per year.
Conclusion
Becoming a CPA in New Jersey involves a commitment to rigorous academic preparation, successful completion of the CPA Exam, gaining relevant work experience, and adhering to ethical standards. The state provides a robust environment for CPAs to thrive and contribute to diverse sectors. Remember, continuous professional education is key to maintaining your license and staying current in the dynamic field of accounting.