How Much Does It Cost to Become a CPA?

Becoming a Certified Public Accountant (CPA) represents a significant career milestone, opening doors to diverse opportunities within the financial and accounting sectors. This professional designation is highly valued, signifying a deep understanding of accounting principles, auditing standards, and tax regulations. Pursuing CPA licensure involves financial commitments that fluctuate based on individual academic background and state board requirements. This article provides an overview of the various costs encountered throughout the journey to becoming a CPA.

Costs of Required Education

The educational foundation for CPA licensure involves meeting a 150-semester hour requirement, which extends beyond a typical bachelor’s degree. Most candidates fulfill this through various academic paths.

One common approach involves obtaining a bachelor’s degree in accounting, followed by a Master’s degree, such as a Master of Accountancy (MAcc). For public institutions, graduate program tuition can range from approximately $12,410 to $12,600 per year for in-state students, while private institutions may charge an average of $26,597 to $28,000 annually. These figures represent tuition and university fees; additional costs for textbooks and materials should also be considered.

Alternatively, some individuals complete a bachelor’s degree and then acquire the remaining 30 credit hours through additional undergraduate courses or a post-baccalaureate program. This path can be more cost-effective, particularly if utilizing community college courses. Verify with your state board whether such credits are accepted towards the 150-hour requirement. The total cost to reach 150 credits can vary widely, ranging from under $30,000 to over $120,000, depending on the institution and residency status.

Factors such as attending an in-state versus out-of-state university, choosing between public and private institutions, and opting for online versus in-person programs influence the overall educational expense. Online master’s programs can sometimes be more affordable than traditional on-campus programs.

Expenses for the CPA Examination

After fulfilling educational prerequisites, candidates face costs associated with the Uniform CPA Examination. The CPA Exam has four sections, with fees for the initial application and each section. The initial application fee, which determines eligibility, ranges from $50 to $300, averaging around $140. This is generally a non-refundable, one-time payment to the state board of accountancy.

Each section of the CPA Exam incurs a fee, often around $344.80, as recommended by the National Association of State Boards of Accountancy (NASBA). If a candidate passes all four sections on the first attempt, examination fees alone total approximately $1,379.20. These fees are non-refundable.

Should a candidate need to retake a section, additional re-examination fees apply, ranging from $50 to $200 per section, plus potential re-application or registration fees. Rescheduling an exam also carries a fee if done within a certain timeframe, typically ranging from $35 to $83.76. The total cost for the CPA Exam, including application, examination, and potential re-examination fees, can range from $1,579.20 to $1,979.20, depending on individual circumstances and state variations.

Investment in CPA Review Materials

Preparing for the Uniform CPA Examination often involves investing in specialized review materials and courses. While not mandatory, these resources are beneficial for improving the likelihood of passing the exam. These materials offer structured study plans, practice questions, and simulated exam environments, enhancing readiness.

Various CPA review resources are available, from comprehensive courses to smaller packages focused on question banks or practice exams. The cost of a full CPA review course typically falls between $999 and $4,000, with some premium packages reaching up to $5,999. Price variability depends on the provider, features included (such as access to instructors or adaptive learning technology), and comprehensiveness.

Many providers offer tiered options, allowing candidates to select a package that aligns with their study preferences and budget. Investing in a quality review course can potentially save money by reducing the need for costly re-examination fees due to failed sections.

State Licensing and Professional Fees

After passing the Uniform CPA Examination and fulfilling educational and experience requirements, the final step involves applying for the CPA license. This process includes several fees. The initial CPA license application fee typically ranges from $50 to $500, varying by jurisdiction.

Some states also mandate passing a separate ethics exam, which may cost between $150 and $320, often through the AICPA’s comprehensive ethics course. Certain states may require a background check, incurring a small fee, usually between $1 and $49.

Once licensed, CPAs incur ongoing professional fees to maintain active status. License renewal fees are typically required periodically, often biennially or triennially, and can vary by state, with some renewals costing around $340. Continuing Professional Education (CPE) is another ongoing requirement, ensuring CPAs remain current with industry changes. The cost of CPE varies depending on the courses chosen, potentially ranging from a few hundred dollars to over $3,600 annually, though many employers cover these costs.

Many CPAs also choose to join professional organizations, such as the American Institute of CPAs (AICPA) or state CPA societies. Annual membership dues for such organizations can range from approximately $180 to over $800.