Becoming a CPA is not only mentally challenging but can be financially challenging as well. Between CPA prep material and the CPA application fees, New York candidates looking to become a CPA in 2018 will spend over $1,000 on application, examination, and registration fees alone:
2 exams cost as much as a plane ticket. pic.twitter.com/qU24Jaog9K
— CPA Candidate (@cpa__candidate) July 6, 2018
Initial Application Fees
|Auditing and Attestation (AUD)||$208.40|
|Business Environment and Concepts (BEC)||$208.40|
|Financial Accounting and Reporting (FAR)||$208.40|
|4 examination sections||$75.00|
|3 examination sections||$75.00|
|2 examination sections||$75.00|
|1 examination section||$75.00|
How the Registration Process Works
If you are a first-time applicant then you are required to pay both an application fee and an examination fee upon submission of the first-time application. In New York State the initial application fee is $377 and must be sent in with Form-1.
- Make your personal check or money order payable to the New York State Education Department. Your cancelled check is your receipt.
- Mail your application and fee to:
New York State Education Department, Office of the Professions
PO Box 22063
Albany, NY 12201
You will also have to submit Form-2 through your college’s registrar’s office to confirm your 150 hour credit requirement to sit for the exam.
CAUTION: Before submitting the application make sure you are eligible to sit for the examination. You don’t want to lose out on $377 (see New York State’s eligibility requirements here).
How Much Does Each Section Cost?
Once you send in all the necessary fees and documentation to New York State the department of education will review your application and determine if you’re eligible to sit for the exam. If you are approved to sit for the exam then you may start sitting for and passing each of the 4 sections of the CPA exam!
To become a CPA you will need to pass all 4 sections of the Uniform CPA Examination (AUD, REG, FAR, and BEC) within an 18 month window. Each time you wish to sit for one of the exams you must pay both a registration fee and an examination fee at the time of registration.
You may register for multiple exams at a time but be aware that these registrations expire after 6 months. Don’t make the mistake of signing up for all 4 exams and have them all expire after 6 months. It’s recommended that you register for one or two sections at a time only if you plan on sitting for those exams within the next few months.
Once you pick a section of the exam and pay the applicable fees you will receive a Notice to Sit (NTS). Once you receive your NTS you may choose a date you wish to sit for the exam over at Prometric.
If I Fail a Section Will I Have to Pay Again?
Every time you register to sit for an exam you must pay an examination fee and a registration fee. This means you may have to pay for more than 4 exams if you fail any one section of the exam.
This is why it’s so important to plan your CPA study journey accordingly. Here are some helpful tips to keep you from throwing money away:
- Don’t register for a section until you are half way through your study prep.
- Make a study calendar so you are prepared when you sit for the exam.
- Buy CPA prep material and increase your chances of passing.
How to Reduce the Cost of CPA Prep?
Just taking the exams alone will cost over $1,000. Once you factor in a CPA prep course then you’re looking at an additional $2,000. But if that’s too steep for your budget then try using Universal CPA Review to supplement your CPA prep.
Universal CPA Review includes actual questions distributed by the AICPA to better prepare you for exam day. Over 4,200 multiple choice questions with detailed answer descriptions as well as over 200 task-based simulations that will replicate your exam experience.
Readers of The Daily CPA get a special discount if they use the code THEDAILYCPA at checkout.
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