Whether you want to work in public accounting or become a Chief Financial Officer of a public company getting your Certified Public Accountant license will get you closer to your dream.
The CPA credential is the most respected accounting designation. Similar to any highly skilled, certified professional field, CPAs in Arkansas must fulfill state-specific education before they’re allowed to practice.
Although the majority of the jobs they execute are the same across states, CPAs are state-licensed due to the numerous state-specific tax and financial laws that any CPA within that jurisdiction must familiarize themselves with to accurately manage reporting on others’ finances.
Most states may allow CPAs to practice outside their state of licensure. Sometimes, they’re not allowed to exceed a specific number of work hours, or there’s an income limit a CPA is not allowed to exceed outside their state borders.
Being a highly regulated field, these topics are well-detailed on state board websites. To become a CPA in Arkansas, specific qualifying requirements must be fulfilled beyond the national minimum requirements like passing the Uniform CPA Examination administered by the AICPA.
Let’s look at the Arkansas CPA requirements and the qualifications you’ll need to fulfill to be eligible to take the CPA exam in Arkansas.
Arkansas CPA Requirements
Contents
The Arkansas State Board of Accountancy requires CPA candidates to fulfill the following requirements to be eligible to sit for the uniform CPA exam:
Personal Qualifications
Arkansas has no minimum age requirements to sit and become a CPA, so if you’re super smart, you might become a practicing professional accountant before you get your driver’s license.
Additionally, you don’t need to be a US citizen to be CPA-licensed in Arkansas. However, you must have an Arkansas residency (including being an Arkansas resident, employee, or keeping office(s) within the state) to acquire a CPA license. You also need to have a valid SSN to qualify for the CPA exam in Arkansas.
Educational Requirements
The CPA education requirements in Arkansas are more complicated compared to most states and should be carefully examined to make sure that you meet every requirement.
To be eligible to sit for the CPA exam in Arkansas, applicants must first meet these qualifications and educational requirements:
- Must have a bachelor’s degree (120 semester hours)
- At least 150 semester hours (including B.A.), though you can take the exam when you’re still 30 semester hours shy of this requirement.
- The remaining 30-semester credits must be completed within three years of passing the licensing exam to get licensed.
- Your coursework must include 30-semester units in accounting courses and 30-semester units in business-related courses
Your college courses must cover the following six areas of study:
- Financial accounting (intermediate accounting)
- Auditing and attestation
- Management accounting (cost accounting)
- Non-profit or Governmental accounting (institutional accounting)
- Federal taxation (fundamentals of taxation or advanced income tax)
- Accounting information systems
Once you’ve completed the CPA exam educational requirements, it’s time to apply to take the exam. You’ll need to submit your official college transcripts from the university or college you’ve attended directly to the ASBPA.
CPA Exam Fees
The CPA exam is divided into four sections and taken with an 18-month window that starts when you sit for and pass the first section. The four sections include:
- Auditing and Attestation
- Financial Accounting and Reporting
- Business Environment and Concepts
- Regulation
You can sign up for each exam section individually or you can sign up for multiple sections at the same time.
The cost of all four sections of the uniform exam in Arkansas is $743. Keep in mind that this cost does not include CPA exam study materials. Applicants are additionally required to pay an application fee ranging from $125 to $170, depending on how many sections they’re registering for.
All candidates who are re-registering must pay an additional registration fee between $75 and $120 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 | $50 |
| One Section | $75 |
| Two Sections | $90 |
| Three Sections | $105 |
| Four Sections | $120 |
Note: Fees are non-refundable and non-transferable.
After applying for chosen sections and paid the required fees, you’ll have a six-month window (notice to schedule) to sit for and pass the sections you’ve applied for.
If you don’t pass a test, you must wait for the six-month window to elapse before reapply. You might want to wisely utilize that period to study hard and prepare.
Arkansas CPA License Requirements
Education: 150 hours (including B.A.)
The State of Arkansas requires candidates to have 150 postsecondary education semester credits, including the completion of an undergraduate degree or baccalaureate.
You must also complete 30 upper-level hours in Accounting or 20 graduate hours in Accounting or a combination of both.
Work Experience Requirements
Furthermore, the State of Arkansas also requires all CPA candidates to possess significant work experience. You must have at least one year of work experience in either public accounting, private accounting, academic, or governmental environment under the direct tutelage of a CPA.
Your supervisor is required to fill out a CPA work experience requirement summary form from the ASBPA.
Pass All Four Sections of the CPA Exam
Each section may be taken in any order. As stated previously, you must pass all four parts of the CPA exam within an 18 months which is calculated from the date the first passed exam section was taken.
To pass any section, candidates must score a minimum of 75. Credits earned in any section have an 18-month validity which is calculated from the date each section was taken.
Furthermore, exam credits expire by section. You lose credits earned outside the 18-month period and corresponding section(s) will require retake(s) to pass the CPA exam.
Pass the CPA Ethics Exam
Once you pass the CPA exam, you will also need to pass an Ethics Test.
You’ll take a 1-hour, online self-study prep course. You’ll then need to complete every section of the course and take the 30-item test. You need twenty-two items to be correct for you to pass, so ensure that you invest enough time to prepare.
Fees
Pay a certification fee of $50.
Paperwork
The ASBPA requires some documentation for your licensing application to be successful. The required documentation typically includes college/university transcripts, work experience documentation, license application, etc. All documents must meet state-specific recommendations to be approved – see above.
Additional Arkansas CPA Exam Information
If you have any questions about the CPA exam in Arkansas, you can visit the Arkansas State Board of Public Accountancy (ASBPA) website.
The Arkansas State Board of Public Accountancy (ASBPA) updates its website to inform professionals in the accounting field about these requirements.
Information may include links to accounting laws specific to only Arkansas, downloadable forms for CPA applicants, which can be submitted electronically, and contact information to relevant individuals and programs.
ARKANSAS STATE BOARD OF ACCOUNTANCY
101 East Capitol, Suite 450 Little Rock, AR 72201
Phone: 501-682-1520
Fax: 501-682-5538