Eligibility for CPA with CMA and 120 Credits

The Certified Public Accountant (CPA) certification is one of the most prestigious qualifications in the field of accounting, recognized globally. While it offers an impressive and rewarding career, it comes with certain eligibility criteria that need to be met. This article explores the eligibility requirements for CPA, the role of a degree, and the impact of the CMA (Certified Management Accountant) certification on CPA eligibility.

Eligibility Criteria for the CPA Exam

To sit for the CPA exam, candidates must meet a minimum requirement of 120 credit hours. Generally, students with a degree or a related field earn around 90 credit hours. However, if a student has achieved a high distinction from a reputable institution, they may become eligible for the CPA exam without needing further credits. It is important to note that while obtaining a CPA license often requires 150 credits, this can be achieved by pursuing additional education such as a master's degree or diploma courses after successfully passing all four sections of the CPA exam.

The Impact of CMA on CPA Eligibility

The CMA (Certified Management Accountant) certification is valuable in its own right, but it does not contribute to CPA eligibility. The CMA certification, while enhancing knowledge and expertise, does not reduce the educational credits required to sit for the CPA exam. It is crucial for individuals to understand that the CMA and CPA are distinct certifications, each serving different purposes in the accounting and finance industry.

Specific Requirements for CPA

To become eligible for the CPA exam, candidates must have completed a specific number of credit hours, typically 120, which can be earned through various means such as a bachelor's degree, additional courses, or both. For instance, students who have completed a degree can often meet the 90-credit requirement but still require additional education to reach the 120-credit threshold. High-achieving students, with a first-class degree from a reputable institution, may be eligible for the CPA exam without additional credits, but this is not a universal rule and should be verified with your specific jurisdiction's requirements.

Additional Requirements for CPA Licensing

In many states or jurisdictions, obtaining a CPA license requires a total of 150 credits, rather than the initial 120 credits needed to sit for the exam. This additional 30 credits can be achieved through pursuing a master's degree or additional coursework. Therefore, even if a candidate meets the 120-credit requirement to sit for the CPA exam, they may still need to complete an additional 30 credits to secure their CPA license.

Role of CMA in CPA Preparation

The CMA certification, while valuable for enhancing knowledge and skills in management accounting, does not contribute to CPA eligibility. The CMA does not offer any further credit hours toward the 120 credits necessary to sit for the CPA exam. However, it is entirely possible to pursue both certifications. Many individuals choose to complete both the CMA and CPA programs to broaden their professional expertise in different areas of accounting and finance.

Conclusion: Combining Education and Experience

While the CMA and CPA are distinct certifications, they both play crucial roles in a professional's accounting career. The CMA can enhance one's expertise in management accounting, while the CPA provides a broader and more rigorous qualification for public accounting and corporate finance. Understanding the eligibility criteria for the CPA and the impact of the CMA on CPA eligibility is crucial for those pursuing a career in accounting.

Resources for CPA and CMA Preparation

NorthStar Academy, run by Mr. Irfat, offers comprehensive resources for preparing for both the CPA and CMA exams. For more details, get in touch with NorthStar Academy.