The state of Florida is frequently linked with retirement. This is because decades after earning this reputation, the state remains the premier retirement destination in the United States.
It tops the list of “the 25 greatest locations to retire in 2021” compiled by U.S. News and World Report. Furthermore, The Tax Foundation rates Florida among the top three in the United States for tax-friendliness, which is frequently and most likely a major consideration for people on fixed incomes.
With the majority of wealth in the United States concentrated in the hands of those aged 65 and over, a regular stream of retirees will translate to a regular influx of money.
This implies extra work for accountants in the Sunshine State preparing estate plans, managing investment portfolios, organizing trusts, and developing and updating retirement plans. From BSP Retirement in Tampa to Florida Retirement Consultants in Lutz, there are a plethora of specialist CPA firms eager to recruit skilled individuals. In addition, Florida is home to a number of large corporate accounting companies.
As an accountant in Florida, you may obtain an endless amount of credentials that can help you land better jobs. The most prestigious license, however, is the Certified Public Accountant (CPA) license.
The CPA license is the most respected credential in the accounting profession, and the test to earn it is often regarded as one of the most challenging of any professional exams. Every state has its own set of criteria, rules, and regulations for Certified Public Accountants.
Let’s review the Florida CPA requirements and review the guidelines that you’ll need to follow in order to take the CPA exam and become a licensed certified public accountant in Florida.
Florida CPA Requirements
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Unlike many other states, Florida doesn’t require CPA candidates to pass an Ethics Exam. Florida doesn’t also require either US citizenship or a state residency for CPA applicants. However, you will need a Social Security Number (SSN).
Let’s take a look at the Florida education requirements for CPA candidates.
Educational Requirements
Florida’s CPA educational requirements are pretty straightforward. The Florida Board of Accountancy requires CPA candidates to complete a minimum of 150 college credit hours of undergraduate coursework.
You must complete a bachelor’s degree with at least 120 credit hours of coursework qualify for the CPA exam. The remaining 30 hours must be completed later to earn a CPA license.
All of your educational credits must come from a fully accredited university. College credits earned from schools in Australia, Canada, Hong Kong, Ireland, Mexico, or New Zealand may also qualify, but you should check with the Florida state board for further guidance.
If you have not graduated yet, you may still be able to sit for the CPA exam in Florida. The Board allows you to take the test if you’ve been accepted into a master’s degree program and have finished fifteen hours, including:
- 3 semester hours in graduate-level tax courses and;
- 6 semester hours in other graduate-level accounting courses.
Ensure that the remaining nine semester hours are relevant to the accounting field.
To qualify for the exam, your coursework must include the following:
- Twenty-four hours of upper-level accounting, including:
- Cost and managerial accounting
- Financial accounting
- Auditing
- Accounting information systems
- Taxes
- Twenty-four hours of general business education, including:
- Twenty-one hours must be upper-level
- At least six credit hours of business law.
To qualify for your CPA license, ensure you meet the following CPA Exam coursework requirements:
- 36 semester hours in upper-level accounting to include:
- Taxation
- Auditing
- Financial
- Cost/Managerial Accounting
- Accounting Information Systems
- 39 semester hours studying business-related courses, including 6 hours in business law courses.
If 2 years have passed since the passing of the Uniform CPA Exam then 80 CPE hours are required. In Florida, your CPA exam grades will expire 3 years after the NASBA release date of the last exam.
CPA Exam Fees
Application fees and registration fees for each section are required, although you can apply for multiple sections at once.
The total cost of taking all the CPA exam in Florida is $743. CPA candidates must also pay a one-time application fee of $50. If you are re-examining for any section(s), the registration fee ranges between $60 and $105 (the actual amount is determined by the number of sections being applied for) plus exam fees.
| Examination Fees | |
| Auditing and Attestation (AUD) | $195.35 |
| Financial Accounting and Reporting (FAR) | $195.35 |
| Business Environment and Concepts (BEC) | $176.25 |
| Regulation (REG) | $176.25 |
| Application Fees | |
| First-time Application Fee | $50 |
The CPA exam is segmented into four parts which must all be taken within an 18-month rolling period, starting when the first section was taken. The four sections include:
- Auditing and Attestation
- Financial Accounting and Reporting
- Business Environment and Concepts
- Regulation
The exam can then be scheduled at a Prometric testing location and taken at a convenient time that suits your schedule. You must reapply if you do not schedule an exam time within six months of receiving the Notice to Schedule.
Florida CPA License Requirements
Education: 150 hours (including B.A.)
Candidates who want to practice accountancy with a CPA designate in Florida must first complete 150 semester hours of postsecondary coursework. You must also secure a bachelor’s degree in this process.
You’ll also need to complete 36 upper-level hours in Accounting and 39 hours in business-related courses.
Work Experience Requirements
Once you’ve passed all four CPA exam sections, you will require some experience to complete your CPA licensure requirements.
The Board requires work experience amounting to:
- One year of relevant work experience supervised by an active US CPA or;
- 5 years of experience supervised by an active Chartered accountant in Canada or Australia.
Your work experience should include the following areas:
- Accountancy
- Financial Advising
- Attestation
- Compilation
- Taxation
- Consultation
Your CPA work experience may include teaching courses for the CPA exam in a university setting. Florida allows academic experience, so you if want to go straight into a teaching career, you will still qualify for your CPA license.
Your supervising CPA must verify your work experience both in quantity and in areas performed by filing a Verification of Work Form to affirm your work performed.
Pass All Four Sections of the CPA Exam
You can take all four sections of the exam at once, but you only have 18 months to complete them all. A score of 75 or higher is required for each part.
Fees
Pay the license application fee.
Additional Florida CPA Exam Information
For additional and relevant information about CPA regulations in Florida, visit the Florida State Board of Public Accountancy website.