Accounting professionals today are strategic decision-makers shaping corporate financial destinies. From accounting managers to specialized auditors, professionals in the field have options for diverse, impactful careers. While not mandatory for all roles, the Certified Public Accountant (CPA) credential remains a golden key, unlocking higher salaries and rapid career advancement.
For ambitious individuals seeking to amplify their accounting prowess and conquer the CPA exam, the Southern Illinois University Edwardsville (SIUE) Master of Science (M.S.) in Accountancy online program offers a rigorous curriculum. The program sharpens skills in accounting, finance and research, arming graduates with the tools to excel in the CPA examination and the finance world.
What Is a CPA?
A Certified Public Accountant (CPA) is a prestigious credential awarded by state boards of accountancy to professionals who have demonstrated exceptional expertise and commitment to their field. To earn the coveted CPA license, candidates must fulfill rigorous state requirements including extensive education, practical experience and the successful completion of the challenging Uniform CPA Examination.
The versatility of the CPA designation opens doors to a wide array of career opportunities. CPAs are sought-after professionals in public accounting, business and industry, government, education and non-profit organizations. Their roles span financial accounting and management to internal auditing, tax planning and financial consulting.
CPAs enjoy great career stability and access to positions of higher authority and responsibility. The certification is a testament to their mastery of vital accounting principles and practices. CPAs become part of an exclusive global community, currently over 1.3 million people and growing. The community provides unparalleled networking and professional development opportunities. Projected employment growth of 22% by 2028 is much faster than average, and CPAs earn up to 15% more than their non-certified counterparts.
What Is the CPA Exam?
This rigorous assessment pushes candidates to prove their mettle in auditing, financial reporting and taxation. The exam’s recent overhaul reflects the changing face of accounting, introducing specialized disciplines that tackle the complexities of modern business head-on.
The new version, CPA Evolution, consists of four parts: three non-negotiable Core sections and one discipline section of choice. The Core trio — Auditing and Attestation, Financial Accounting and Reporting, and Taxation and Regulation — forms the exam’s backbone. Each section includes approximately 70 multiple-choice questions and real-world simulations. For the Discipline section, candidates pick their focus: Business Analysis and Reporting, Information Systems and Controls, or Tax Compliance and Planning. Each option brings its own mix of questions and practical scenarios.
Candidates face a grueling 16-hour test, split into four intense four-hour sessions. The clock starts ticking with the first passed section, giving candidates 18 months to complete all four parts before earlier sections expire. Some states are stretching this window to 30 months.
How to Prepare for the CPA Exam
Preparing for the CPA exam requires dedication. Future accountants can tackle this challenging exam with confidence by getting fully trained in a master’s program and following this structured approach:
- Submit CPA exam application. Check your state’s specific requirements for applying. Most use the National Association of State Boards of Accountancy’s online system, while others use the State Board of Accountancy. Be sure to apply for the correct subtest.
- Lock in an exam date promptly. Once you receive notice, book an exam date without delay. Aim for the start of the testing window to allow for flexibility in case of scheduling conflicts. In most jurisdictions, notice is valid for six months.
- Dive into the CPA exam blueprints. These detailed outlines break down the content and skills tested in each subtest. Use them to optimize study time.
- Leverage online practice exams. Take advantage of the practice tests offered by the American Institute of Certified Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA). These simulations mirror the exam, allowing students to acclimate to its format and timing. Its tutorials are particularly helpful.
Why Enroll in a Master of Science in Accounting?
SIUE’s online M.S. in Accountancy program delves into advanced accounting principles and leadership skills that set graduates apart in the job market. Whether seeking a role as a CPA or exploring other financial career paths, the curriculum suits the goals of students. The program tackles real-world accounting challenges and develops analytical skills for today’s data-driven business world.
Graduates of this program are well positioned for diverse and rewarding careers. The coursework prepares them for the CPA exam and for roles that shape financial strategies across industries. Students learn to harness tools like data analytics and AI in economic decision-making, which are increasingly valuable skills in senior positions. Choosing this program is an investment in a future where graduates can confidently lead teams in complex financial landscapes and drive business success through sound financial practices.
Learn more about Southern Illinois University Edwardsville’s online Master of Science in Accountancy program.
