If you’ve considered applying for the CPA test and becoming a Certified Public Accountant, the likelihood is that you’ve discovered that it’s not free. Many individuals fail to mention the numerous expenditures associated with taking the CPA Exam Cost, passing it, and receiving your license.
Although earning your Certified Public Accountant(CPA) license is a significant investment that will pay dividends over the course of your life, it won’t be inexpensive. Let’s examine all of the costs associated with becoming a CPA to find out how much the CPA test will set you back.
Let’s Discuss Below About The CPA Exam Cost;
1. CPA Review Course Costs
You should buy a CPA review course even before you pay any actual CPA Exam Cost expenses. Without a proper study guide, it is feasible to prepare for the test, but it will be more harder and you’ll be far more likely to make mistakes.
Believe me. That isn’t worthwhile. Why would you want to endure the CPA exam’s discomfort any longer than necessary? Get a CPA review course that is appropriate for you to do the right thing. CPA Exam Cost prep courses range from $1,000 to $3,000.
2. Application Fees
The application fee is the first of the CPA Exam Cost. This varies by state and often ranges from $50 to $200.
You must pay this cost to your state board in order to apply to sit for the test. It’s simply a one-time price, but if your application is turned down the first time or you allow your permission to test notice (ATT) expire, you can find yourself paying it more than once.
Both of these scenarios are undesirable since it would be wasteful to pay the application cost again.
3. Examination Fees
Exam fees are the next set of expenses you will have to make. These are the expenses related to taking the test itself.
You can decide the portions you wish to take and pay the necessary costs after receiving your ATT. Each portion of the CPA Exam Cost a different amount in each state, but generally $193.45 per section.
4. Registration Fees
Depending on your state, you may also be required to pay a registration fee while enrolling in a section. These CPA Exam Cost are frequently set up in a tiered manner, allowing you to save money by enrolling in many portions at once. This is how it goes.
Section 1: $63
$81 for two sections
$3 sections for $99
$4 Sections = $177
Hence, if you register for each of the four sections separately, you will pay a registration cost of $252. So, take a deep breath and stop going bonkers planning to enroll in all 4 sections at once to save $80.
But keep in mind that your NTS is only valid for six months. If you sign up for all four parts, your NTS will expire if you don’t schedule all four examinations during the following six months. Consequently, in order to obtain a new NTS, you will need to pay the exam and registration expenses once more. They capture you there. Be wise. Just register for one at a time. Over time, it will enable you to save money.
5. CPA Exam Ethics Fees
After passing the universal Certified Public Accountant(CPA) exam, several states need you to sit for and pass an ethical exam in order to obtain your CPA license. As far as tests go, this isn’t a big problem, but like anything else, it also costs money.
The cost of the AICPA ethics test ranges from $150 to $200. This covers a study guide and any examination-related costs.
6. CPA Licensing Fees
You must pay your CPA licensure fees to your state board once you have successfully finished all four Certified Public Accountant(CPA) test portions and the AICPA ethics exam.
States have different prices for this. Some states just charge $50 annually, while others that wish to profit off of you charge upwards of $500. You must continue to pay this fee in order to practice public accounting and keep your license.
7. Additional Exam Fees
The majority of Certified Public Accountant(CPA) students fail the test on their first attempt. As a result, individuals must pay to retake any sections they repeatedly fail. Given that a section of seating costs roughly $250, this may add considerably. Two section failures will cost you an additional $500 in CPA Exam Cost.
8. Additional CPA Prep Course Costs
Although less frequent than the last expense, this one is still rather widespread. Many applicants ignore my advise on how to choose the finest Certified Public Accountant(CPA) review course and wind up with a course that is ineffective for them.
They therefore fail one or two sections and are forced to look for a new review program.
Some applicants do receive the appropriate course, but it has a deadline that passes. As a result, they must pay more to renew the course. For most businesses, including Roger and Becker, the renewal of CPA Exam Cost is $500.
9. International Candidate Credential Costs
Your state board will need to determine if your education matches the basic standards if you submitted an application from outside the US. They will charge you for this review, just as they would for anything else.
The majority of states that let foreign applicants take the test in their territory levies a $150–$200 fee for this additional evaluation.
Simply said, absolutely. Definitely worthwhile. You will have access to so many opportunities after obtaining your CPA license that you would not have otherwise.
Also, you’ll earn a lot more money. Over the course of their careers, Certified Public Accountant(CPA) typically earn $1M more than their non-certified counterparts. That’s really nice.
The initial outlay and the year required to complete the exam are worthwhile. Just settle in and get it over with. You’ll be pleased that you did.