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License Information
Certified Public Accountant (CPA)
The license information below is specific to the state of Minnesota.
This license applies to the following occupations:
Description
Requirements
Computer Based Test
Information regarding the Uniform CPA Examination is at www.cpa-exam.org.
Certificate of CPA issued when uniform CPA exam and Ethics Exam are passed and experience obtained.
Qualifying Public Accounting Experience Requirements for CPA Licensure
Education / Experience
Masters in Accounting(1) / 1 year experience
Baccalaureate Degree with Accounting Major (or equivalent)(2) / 2 years experience
Baccalaureate Degree without Accounting Major(1) / 2 years experience
2 years post-secondary education(3) / 5 years experience
(1)Credits must be from a college or university that is fully accredited by the North Central Association of Colleges and Universities or its equivalent or whose credits are acceptable to the University of Minnesota for admission to graduate study.
(2)24 semester credits or 36 credit hours in accounting and business law AND 24 semester credits or 36 quarter credit hours in business and economics. The accounting an business law credits must include a minimum of 18 semester credits or 27 quarter credits in accounting. Applicants shall have successfully completed the following types of courses: elementary financial accounting, elementary managerial accounting, intermediate accounting, cost and managerial accounting, and auditing. Credit is not permitted for duplicate courses.
(3)Two or more years of full-time study with a passing grade average or above from a college or university that is full accredited by the North Central Association of Colleges and Universities or its equivalent OR whose credits are acceptable to the University of Minnesota for admission to graduate study OR an area vocational technical school or a Minnesota licensed private vocational school which fulfills the requirements of Minnesota Stats 141.21 .36.
Experience recognized by the Board will ordinarily be measured on the basis of calendar months and days worked by the applicant: (a) as a staff employee of a certified public accountant or public accountant, a firm of certified public accountants or public accountants, or a corporation formed for the practice of public accounting; or (b) as an auditor in the office of the legislative auditor or state auditor, or as an auditor or examiner with any other agency of government, which experience, in the opinion of the board is equally comprehensive and diversified; or (c) as a self-employed public accountant; or (d) in any combination of the foregoing capacities. Qualifying self-employment experience must include some audit experience or education.
*Education requirements - Requirements change after July 1, 2006 as follows:
To sit for the exam prior to July 1, 2006: You must meet at least one of the following requirements:
-Master's degree with a major in accounting, or
-Bachelor's degree with a major in accounting, or
-Bachelor's degree with an equivalent accounting major, or
-Bachelor's degree (other than accounting) with one year qualifying experience, or
-Two or more years of college with three years of qualifying experience, or
-High school graduate with five years of qualifying experience, or
-Education in a foreign country -Evaluation of transcripts by Education Credential Evaluators (ECE)
To sit for the CPA exam after July 1, 2006:
-Master's degree with a major in accounting, or
-Bachelor's degree with a major in accounting, or
To obtain your CPA certificate:
-150 hours of college credit. The 150 hours are not required to take the exam.
Fees
(Please note: All fee information subject to change without notice.)
FIRST TIME CANDIDATES
-All applicants are required to pay both an application fee and an examination fee when submitting the initial application.
_APPLICATION FEE_$175
_EXAMINATION FEE_FEE
_Auditing and Attestation (AUD)_$187_*$209.33 as of August 1, 2007
_Business Environment and Concepts (BEC)_$140.78_*$161.63 as of August 1, 2007
_Financial Accounting and Reporting (FAR)_$175.44_*$197.40 as of August 1, 2007
_Regulation (REG)_$152.33_*$173.55 as of August 1, 2007
-Applicants are able to apply for one or more section(s) of the examination at a time.
-All fees must be paid at the time of application and must be in US dollars. Certified checks or money orders must be drawn on a U.S. bank and made payable to CPA Examination Services.
-There is no provision for withdrawing from the examination.
RE-EXAM CANDIDATES
-All candidates are required to pay both an registration fee and an examination fee at the time of registration.
REGISTRATION FEE
_Sections_Fees
_4 Sections_$145
_3 Sections_$130
_2 Sections_$115
_1 Section_$100
_EXAMINATION FEE_FEE
_Auditing and Attestation (AUD)_$187_*$209.33 as of August 1, 2007
_Business Environment and Concepts (BEC)_$140.78_*$161.63 as of August 1, 2007
_Financial Accounting and Reporting (FAR)_$175.44_*$197.40 as of August 1, 2007
_Regulation (REG)_$152.33_*$173.55 as of August 1, 2007
-Candidates are able to apply for one or more section(s) of the examination at a time.
-Payment can be made by credit card (Visa or MasterCard only). Candidates who choose to pay by certified check or money order must be invoiced by CPA Examination Services.
-All fees must be in US dollars. Certified checks or money orders must be drawn on a US bank and made payable to CPA Examination Services.
-There is no provision for withdrawing from the examination.
See Minn. Rules 1105.0600 for other fees and renewals.
Additional information regarding the Uniform CPA Examination is at www.cpa-exam.org.
Licensing Authority
Minnesota Board of Accountancy
85 7th Place East, Suite 125
St Paul, MN 55101
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Phone: (651) 296-7938
Fax: (651) 282-2644
Data is collected by the Department of Employment and Economic Development.
