CPAs are one of the most well-known and respected professions. They are trusted financial advisors and must constantly guide and advise their clients on situations that have huge financial impact. Here we will detail why CPAs need to continue their education, even after becoming licensed.
Why CPAs Need to Continue Their Education – Overview
It is probably known that the accounting field requires all kinds of different skills that are constantly expanding and changing. So, to ensure that CPAs give the right advice or provide the right service to a client, they must continue their professional education.
It is not enough for the CPAs to finish school and get their degree. Many professionals state that continuing their education is important to maintain their competency and skills. Since they are one of the most qualified professions, they also need to meet all the requirements set for them by the state board of professional accounting.
On top of this according to the AICP every CPA needs to complete around 120 hours of CPE every three years.
So, here are the reasons why CPAs need to continue their education through CPE courses.
Continuing education can increase your potential to earn more.
If you choose to continue your education you may increase your earning potential. You may also increase job security. On top of that, you will develop more skills and get more training which could increase your opportunities.
According to various studies, your earning potential is correlated with educational attainment. It has also been noticed that modern generations of students plan ahead and think about their income more than before. Not convinced? Take a look for yourself. Here are some great resources depicting the importance of education essay that you should definitely review if you need more details.
CPE can help your clients.
CPE offers you a chance to improve yourself professionally. it is a great opportunity to learn more about new tax issues, laws, and loopholes. This in turn will help you be able to offer more value to your clients.
CPE is a requirement.
Obtaining further education is a requirement in most states for CPAs. The classes are laid out on a state level and are broken down into the number of hours that every specific CPA needs every year. Those hours typically range between 40 to 120 hours. That being said they usually vary by state.
AICPA requires additional CPE credits.
The need for credits does not stop at the state board. Many accounting firms will demand you maintain your AICPA membership. One of the criteria is that you complete 120 hours of CPE courses every 3 years.
According to the AICPA, you can complete the hours in person, but many CPAs decide to do the assignments and learn online via courses.
Tips to get the most from CPE Credits.
As necessary as it may be, it can be hard to find the time to earn CPE credits. This is especially true if you work full time and have a family. As a CPA, your time is valuable, so you will surely appreciate the following extra tips:
- Decide what you want to get out of it. The credits offer you the potential to focus on your field or broaden your professional reach.
- Research the provider and make sure that your credits will be accepted by your state board.
- Consider a variety of course models, because every one of them offers a different kind of benefit.
- Choose the right course and make sure that it offers all the information that you need. Keep in mind that it should be compatible with your current business or workplace.
Why CPAs Need to Continue Their Education – Summary
CPE is essential but also extremely beneficial for CPAs.
Make sure that you choose some of the top-ranked online courses for continuing your education. Whichever one of you choose, make sure that you keep records of your CPE credits, not just for your state board but also to remember where you took your favorite course so you can sign up again in the future!
For more articles like this be sure to visit the CPA section of the site.