120-sit-rule in New York

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    Topic
  • January 17, 2019 at 1:21 pm #2168935
    jimmy
    Participant

    Hey guys, i have a question about the registration requirement in New York

    i am a senior Accounting Student in University of Iowa and gonna graduate the end of 2019 with >150s.h(4 year). . before the 2019 Spring semester i’ve already had 118 semester hour. after the end of the spring semester, i would have 137 s.h.
    Here is the eligibility requirement i found on main website:
    Option 2 (120 sit rule): If you did not apply for licensure prior to August 1, 2009, or if you completed your education after August 1, 2009 and want to sit before completing 150 semester hours, you must meet each of the following:

    120 semester hours of college level education;
    A course covering each of the following:
    Financial accounting, at the upper level,
    Cost or management accounting,
    Taxation,
    Audit and attestation, at the upper level.

    I will met all the 4 classes requirement above.
    Am i qualified to register the CPA exam after i complete my spring semester this year and take the exam the next half year before i graduated?
    thank you very much!

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  • January 17, 2019 at 2:23 pm #2169019
    Recked
    Participant

    Simple answer is yes.
    NASBA will need your transcripts and the application could take up to 6 weeks, maybe longer.
    If I were in your shoes I would probably apply now, then be told you were 2 credits short, and then follow up after you have finished the spring semester.
    Everything will already be in place so they should be able to process and get you going as soon as they receive your transcripts from the school.
    I would assume you will want to try and sit for a couple parts over the summer while off from school.

    January 18, 2019 at 9:12 am #2170159
    Steven K
    Participant

    I personally got my undergrad in NY and am from NY so I used the 120 sit-rule. I had over 128 credits going into my last semster and so I applied to sit for the exam. I know NY is slow but I would say they got back to me within 2-3 weeks after I sent in all my documentation (ie transcripts). It really depends when you send you application in. It may take longer during the heavier application windows (ie. right after graduation (since all the ACC majors will be applying to sit for the exam)).

    I'm not sure what the rejection process is if you were to try applying now but I feel like NY would charge you a fee so I'd wait until you finish 120 credits. You can always start studying and then once you get your NTS after a few weeks, schedule your exam almost immediately after (Since it will take you a few weeks to study anyway)

    January 18, 2019 at 11:30 am #2170315
    Recked
    Participant

    I think you apply to NASBA and NASBA reviews your transcripts to allow you to sit under the 120 hour rule.
    If your approval has to come from NYS, then prepare for a 16-20 week wait.
    I applied via the 15 year pathway in NY that required NYS review and approval and it took 4 months. April 2017-the end of Aug2017.
    All the more reason to apply sooner.
    I am not aware of any additional fees associated with the application.
    You pay NYS $377 license fee and you pay NASBA.
    The NASBA wait time is 6 weeks according to their website. I would not start studying for a section until you have NTS in hand and able to schedule a date.
    There is nothing worse than being done with your review and having to tread water because you could not get a date with prometric.

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