Can You Take the CPA Exam While in School?

The Certified Public Accountant (CPA) exam is a challenging but rewarding journey for aspiring accountants. Many people wonder whether it is feasible to take the CPA exam while they are still in school. The answer to this question is yes—you can take the exam while you are in school, but several important considerations come into play. This article aims to guide you through the eligibility requirements, timing, exam structure, and preparation strategies to help you decide if this is a viable option for you.

Eligibility Requirements

Each state has its own eligibility requirements for taking the CPA exam. Generally, candidates need to meet both credit hour and course prerequisites. Most states require at least 150 semester hours of post-secondary education, with specific coursework in accounting and business. If you are close to completing these requirements, some states might allow you to sit for the exam. It is crucial to review your state's specific requirements and ensure you meet them before planning to take the exam.

Timing

Many students opt to take the CPA exam during their final semester of college or shortly after graduation. This timing can be advantageous because the material remains fresh in your mind. However, the decision to take the exam while in school or after graduation depends on various factors such as your coursework load, financial resources, and personal commitments. If you have a heavy course load or internships, taking the exam after graduation might be more practical.

Structure of the CPA Exam

The CPA exam is divided into four sections:

According to the American Institute of CPAs (AICPA), you can take these sections in any order, but you must pass all four within an 18-month period. This structure provides flexibility, allowing you to strategically prepare for the sections you find most challenging.

Preparation

Balancing exam preparation with schoolwork can be demanding. Effective planning is essential to allocate sufficient time to both your academic responsibilities and CPA exam preparation. It is important to create a study schedule that aligns with your course load and maximizes your study time. Consider setting aside dedicated study hours each week to ensure you cover all necessary material systematically.

Many students have had success with organized study plans, such as UWorld Roger CPA Review, which provides targeted practice questions and comprehensive study materials. This course can significantly enhance your understanding of the exam content and improve your chances of passing.

Application Process

To take the CPA exam, you need to apply through your state’s board of accountancy. This application process often requires submitting transcripts, course listings, and other documentation to verify your eligibility. Be prepared to provide this information to ensure a smooth application process.

Expert Opinions

Based on personal experience and feedback from other CPA candidates, taking the exam while in school is possible, but it depends on various factors such as state requirements and individual circumstances. For example, some candidates have successfully taken the exam before graduating, while others have found it challenging to balance school and exam preparation.

For instance, one former auditor mentioned that they knew of individuals who had both their CPA and CFA certifications. However, the decision to take the CPA exam while in school ultimately depends on personal goals and feasibility. It is essential to research your state's specific requirements and consult with an academic advisor for guidance.

By understanding the eligibility requirements, timing, exam structure, and preparation strategies, you can make an informed decision about whether to take the CPA exam while still in school. Taking the time to plan and prepare effectively can significantly increase your chances of success in this rigorous exam process.