[Anonymous]

What is the cost of maintaining your CPA license after you have applied for, taken, and passed the exams? I’m talking about CPE and license renewal costs.

I realize that the initial cost for acquiring a CPA license is different for most people as for some it takes more than 10 tries while some pass on their first attempt. The cost of maintaining the license, though, I would assume to be some what uniform across individuals and states.

I ask because I am currently studying for the CPA Exam but I have no intention of working in public accounting for the rest of my life. I know that I need the 1-2 years of experience to be licensed in the first place, and that is fine. I just plan to quit eventually and build a career in something else, like consulting. Also I will most likely be working in Japan.

As I was re-evaluating the cost of persuing a license that I won’t be using except for landing interviews and having those 3 letters on my business card, I began to have second thoughts about going for the CPA license.

Could I get some input from you guys?

[Anonymous]

I don't think you have to do your 1-2 years of experience in public accounting. For california, there are two types of CPA licencses, one with attestation that lets you sign an audit report, and one without. You only need to do your experience requirement in public accounting if you plan on signing attestation reports, otherwise any experience under an active CPA is good enough to get your license.

I've also heard that the AICPA is changing the rules regarding use of the CPA letters for inactive CPAs. From what I understand, if you're license is inactive, then you must disclose that information anytime you use the CPA designation. So if you want to continue to use the CPA designation, then you have to maintain an active license and pay for license renewal and CPE.

The think most CPA's have their employer pay for their CPE classes. I work for a private company, and the CPA's pay their own renewal fees, but the firm pays for CPE because it's considered professional development training.

I think the cost of CPE depends on if you are attending conferences or doing self study CPE. Check out the AICPA website for some of the conferences and self study programs currently available and see what the prices generally go for.

[kandisjoy]

My employer pays for both CPE and renewal fees.

FAR: 71, 77
BEC: 70, 82
AUD: 62, 78
REG: 71, 68, 85

CA Licensed 11/2011

[jelly]

I'm in NY, and I guestimate on/under $1k per year, on average for AICPA membership, state society membership, and license renewals. CPE can be free through your employer or very inexpensively online (I got all of mine free online, and it's mostly the ethics you gotta pay for). CPE conferences can be pricey, but it's mostly about meeting/networking. If you do, you can itemize these costs.

Couldn't pass again!

[Herbieherb]

Hi jelly can u give a link to the free cpe ones? Thx

NEW YORK- DONE

[Anonymous]

My annual renewal was $240. I'm wanting to say the state society fee for Texas is around $100, but I don't really recall. The state society offers a free hour or two CPE class once or twice a month. Other CPE classes didn't seem like they were too pricey. You could easily manage the license and CPE for under 1k per year.

[jeff]

The AICPA has a really good deal on unlimited CPE hours online…I used it.

[jelly]

Hey Herbieherb – this may depend on the state you're in, and what it requires, QAS sponsors, etc.

I've done a lot of pilot testing or just googling “free CPE”, and I've also gotten a lot of credits through Deloitte's Dbriefs. I would say the Dbriefs are probably the easiest, b/c it's all polling questions, barely any knowledge/quiz questions. The catch is that your schedule has to be a little predictable b/c you gotta watch 'em live.

Couldn't pass again!

[Author]

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