If you’re considering a career as a Certified Public Accountant (CPA) in Indiana, there are a few requirements you need to be aware of. First and foremost, you’ll need to have a bachelor’s degree and complete 150 credit hours of education. Passing the CPA examination administered by the state board of accountancy is also a must. In terms of education, you’ll need to complete specific coursework in accounting, including financial audits, auditing, taxation, and managerial accounting. You’ll also need to have a certain number of hours in business management and economics, as well as computer science classes. Once you meet all the requirements, you can apply for your Indiana CPA license and appear on the Indiana CPA license lookup.
Renewing your CPA license is done on a three-year cycle, from July 1st to June 30th, and there are certain periods for completing your Continuing Professional Education (CPE) credits. To apply for your Indiana CPA license, you’ll need to submit your application, along with additional documents and registration fees, to the Indiana State Board of Accountancy’s Professional Licensing Agency. Keep in mind that the cost of taking all four parts of the CPA exam is $743, plus a $150 application fee. Remember, this is just a brief overview of the requirements for becoming a CPA in Indiana, so be sure to do your research and consult the Indiana Board of Accountancy for more detailed information.
Education Requirements
To become a certified public accountant (CPA) in Indiana, you must meet certain education requirements. These requirements include obtaining a bachelor’s degree, completing 150 credit hours, and passing the CPA examination.
Bachelor’s Degree
The first step in becoming a CPA in Indiana is earning a bachelor’s degree from an accredited college or university. This degree can be in any field, but it is recommended to major in accounting or a related field to gain the necessary knowledge and skills.
Completion of 150 Credit Hours
In addition to a bachelor’s degree, you must also complete 150 credit hours of education. This requirement is higher than the standard 120 credit hours typically required for a bachelor’s degree. The additional credit hours can be earned through a combination of undergraduate and graduate coursework.
Passing the CPA Examination
To obtain a CPA license in Indiana, you must pass the CPA examination administered by the Indiana State Board of Accountancy. This exam consists of four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). Each section must be passed with a minimum score of 75.
Degree and Course Requirements
To meet the education requirements for a CPA license in Indiana, specific coursework must be completed in addition to obtaining a bachelor’s degree and completing 150 credit hours.
Bachelor’s Degree from an Accredited College or University
To be eligible for a CPA license in Indiana, your bachelor’s degree must be obtained from an accredited college or university. Accreditation ensures that the institution meets certain quality standards and that the education provided is of a high standard.
24 Semester Hours in Accounting
You must complete a minimum of 24 semester hours in accounting courses. These courses should cover topics such as financial audits, auditing, taxation, and managerial accounting. By completing these courses, you will gain a solid foundation in accounting principles and practices.
24 Semester Hours in Business Management and Economics
In addition to accounting courses, you must also complete a minimum of 24 semester hours in business management and economics. These courses should cover areas such as business law, tax law, and other topics related to business management and economics. This knowledge will be valuable in your career as a CPA.
Up to 6 Semester Hours in Computer Science Classes
Completing up to 6 semester hours in computer science classes is also recommended. These classes will provide you with knowledge and skills in computer technology, which is becoming increasingly important in the accounting profession.
Acceptable Institutions and Courses
When completing the required coursework for a CPA license in Indiana, it is important to ensure that you are taking courses from an institution that is regionally approved. This means that the institution meets certain quality standards and that the courses offered are of a high standard.
Correspondence and online courses are acceptable as long as they are taken from a regionally approved institution. It is important to note that these courses must be listed on a transcript to be considered valid towards meeting the education requirements.
Experience Requirements
To obtain an initial issuance of a CPA license in Indiana, you must have a minimum of 2 years of experience. This experience can be gained through any relevant professional experience in the accounting field. Unlike some states, Indiana does not require candidates to operate directly under a licensed CPA during this experience period.
Reciprocity
If you hold a valid CPA license from another state and have at least 4 years of experience, you may be eligible for reciprocity in Indiana. Reciprocity allows you to obtain a CPA license without meeting the education and examination requirements. However, Indiana does not have residency requirements for reciprocity, meaning that you do not need to live or work in Indiana to be eligible.
Renewal of CPA License
Once you have obtained your CPA license in Indiana, it is important to keep it active by renewing it on a regular basis. The renewal period for CPA licenses in Indiana is from July 1st to June 30th, and licenses are renewed on a three-year cycle. During this cycle, CPAs are required to complete a certain number of continuing professional education (CPE) hours.
Reporting periods for CPAs in Indiana are from January 1st to December 31st, and CPAs must report their CPE hours during this period. Triennial fixed intervals are used for reporting, meaning that CPAs must report their CPE hours every three years.
Application Process
To apply for a CPA license in Indiana, you must complete the education, exam, and experience portions of the process. Once these requirements are met, you can submit your application to the Indiana State Board of Accountancy along with the required documents and registration fees.
CPA License Lookup
If you would like to verify the license status of a CPA in Indiana, you can visit the Indiana Board of Accountancy website. On the website, you can enter either a license number, a person’s name, or a business name to conduct a license lookup.
Cost of CPA Exam
Taking the CPA exam in Indiana involves certain costs. The total cost of taking all four parts of the exam is $743. In addition to this, there is a $150 application fee. It is important to budget for these costs when planning to become a CPA in Indiana.
Contact Information
For further information or assistance regarding CPA licensure in Indiana, you can contact the Indiana State Board of Accountancy. The Professional Licensing Agency handles CPA licensure and can be reached at the following address:
Indiana State Board of Accountancy Professional Licensing Agency 402 West Washington Street, Room W072 Indianapolis, Indiana 46205