From providing bookkeeping expertise to tax return preparation, certified public accountants (CPA) possess a wide range of skills that are heavily sought after. There are extensive education and training programs needed to earn this title, including meeting state-required mandates. Here is a general guide on what it takes to become a CPA and how they provide accounting services to business clients.

What Education Is Required?

Those interested in becoming a CPA must attend an accredited university or college and earn a bachelor’s degree with 150 semester hours in an undergraduate program. Depending on the state, there is a minimum number of accounting course semester hours required. In Connecticut, it’s 36 and an additional 30 hours in economics or business administration courses. The classes can include business law, statistics, and others related to accounting services. Undergraduates are also required to obtain 60 hours of core courses, including English and a foreign language.

What Is the CPA Exam Like?

After graduating from college, the next step is taking the state CPA Examination®. In Connecticut and other states, there are four tests that cover auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation. Connecticut test takers must pass each test with a least a 75 score.

The ethics exam is the second step towards certification. It’s issued by the American Institute of Certified Public Accountants and consists of an 11-hour independent course and a 40-question practice test. Participants must pass the ethics test with a minimum score of 90. Since Connecticut is a two-tiered state, individuals have two options after completing the CPA and ethics exams: become fully-licensed or receive a CPA certificate. With the first choice, an individual can use the CPA title and provide accounting services. While certificate holders can’t practice in a firm, they can use the CPA designation on letterheads, resumes, and other unofficial, non-binding forms. 

How Does This Benefit Clients?

If you’re a small business owner, CPAs can assist you in several ways. From bookkeeping to payroll processing, having this professional on your team can benefit your firm. When it comes to tax preparation, you can also count on them to complete state and federal returns, ensuring you take advantage of money-saving tax deductions and credits. Depending on your individual and business needs, CPAs also specialize in estate and trust plans and serve as a consultant on a range of financial matters.

Residents in Litchfield, CT, and the surrounding areas count on Dianne M. Saunders, CPA for customized services. She has more than 25 years of experience helping individuals and business owners by providing professional accounting services. If you need bookkeeping, tax filings, or business consultations, call (860) 567-3022. You can also learn more about Dianne’s background and experience online.