OVERVIEW
What is a CPA?
A Certified Public Accountant, or CPA, is a licensed finance professional whose skills and expertise go beyond basic bookkeeping and accounting. Similar to traditional accountants, CPAs are trusted financial experts that individuals and businesses rely on for help with taxes, financial planning, auditing, cash flow, and business strategy. Additionally, CPAs must meet rigorous education, experience, and licensing requirements, and maintain a strict code of ethics that adheres to the highest professional standards. Growth in this field is fueled by the complexity of tax laws, evolving financial regulations, and the increasing need for fraud prevention and financial transparency.
While most CPAs have earned a degree in accounting, a CPA license demonstrates the highest level of competence in the field. The CPA credential is recognized as a mark of excellence within the accounting profession and opens doors to a variety of career paths, including public accounting, corporate finance, and advisory roles. Earning a CPA license significantly increases job opportunities, opening doors to senior-level roles in audit, finance, and consulting across industries. Many states allow CPAs to transfer licenses from one state to another, which allows career mobility throughout the United States. While the CPA is a U.S.-based credential, many multinational companies and international firms recognize its value, especially in global financial reporting and compliance.
RESPONSIBILITIES
What Does a CPA do?
CPAs are licensed to perform specific tasks that go beyond what general accountants are authorized to do. For example, only CPAs have the authority to file reports with the Securities and Exchange Commission (SEC). Auditors who perform attestation must also be CPAs. Due to these requirements, many public accounting firms, corporations, and law offices prefer to hire CPAs, or professionals who are eligible to become CPAs, over traditional accountants.
CPAs may work across diverse sectors depending on their expertise and interests. The five main areas include:
- Public accounting
- Business and industry
- Government
- Education
- Not-for-profit
Within these fields, CPAs often specialize in tax preparation, auditing, or financial strategy. Some pursue careers in public accounting for the advancement opportunities and competitive pay, while others leverage their expertise to start their own business and work as independent financial advisors. Whichever path a CPA chooses, the designation represents a career built on education, ethics, and experience navigating complex financial matters. The versatility of the CPA designation means professionals can shift across industries or even start their own practice.
Where Do CPAs Work?
CPAs work in nearly every industry, from public accounting firms to nonprofit organizations, educational institutions and government agencies. Common specialty fields include:
- Tax and financial strategy (taxation, tax planning, financial planning)
- Corporate and consulting (management accounting, IT consulting)
- Specialized fields (environmental accounting, financial forensics)
These roles allow CPAs to apply their expertise in different areas, such as analyzing financial data, advising on tax strategy, or guiding organizational decision-making.
EDUCATION & BEST DEGREES
What Education Does a CPA Need?
Becoming a CPA is a multi-step process that demands academic rigor, professional experience, and a commitment to high ethical standards. Education requirements vary by state, but generally include:
Earn a bachelor’s degree. The first step to becoming a CPA is to obtain a bachelor’s degree in accounting, finance, or a related field. This provides foundational knowledge in GAAP (Generally Accepted Accounting Principles), journal entries, financial statements, debits and credits, managerial accounting, finances, auditing practices, tax practices, and more.
Earn a master’s degree. While candidates can sit for the Uniform CPA exam with a bachelor’s degree (120 semester hours), many states require 150 hours of education to obtain CPA licensure. A master’s degree in accounting satisfies the 150-hour requirement.
Apply for, take, and pass the CPA exam. The CPA exam is administered by the American Institute of Certified Public Accountants (AICPA) and consists of four sections: auditing, financial accounting, regulation, and business concepts. Candidates must apply through their state board of accountancy, verify their education, and have their qualifying hours approved. Once approved, they will receive a Notice to Schedule (NTS), which is required to sit for each section of the exam. The National Association of State Boards of Accountancy (NASBA) plays a central role in coordinating CPA exam administration across states.
Gain professional experience. Most states require two years of supervised accounting work before licensure. This requirement ensures that candidates can apply academic knowledge to real-world financial situations.
Obtain a CPA license. After passing all four sections of the CPA exam and fulfilling the work experience requirement, candidates may apply for licensure through their state board. Some states also require an ethics exam.
Maintain licensure through continuing education. CPAs must complete annual continuing professional education (CPE) courses to ensure they are up to date on tax laws, regulations, and industry standards.
How to Get CPA Certification?
Becoming a CPA requires meeting education, experience, and exam requirements. Candidates must have 120 or 150 credit hours (depending on the state), verified work experience, and pass the Uniform CPA exam. Applications require proof of residency, education, and Social Security number. After passing all exam sections, and an ethics exam in some states, candidates can apply for licensure. Valid industry experience is required for licensure.
What Education Does a CPA Need?
A CPA needs at least a bachelor's degree in accounting to qualify for licensure. Many states require 150 credit hours to sit for the CPA exam, which often means earning a Master of Accounting degree. Additional credentials, such as a skills-based Accounting Fundamentals Certificate or Advanced Accounting Courses in high-demand topics like data analytics, taxation, ethics, and forensic accounting can provide a competitive advantage.
Both a bachelor’s and master’s degree in accounting provide foundational skills such as best accounting practices, financial statement analysis, regulations, auditing, and taxation, preparing candidates to succeed on the CPA exam and in their professional careers.
Best Degrees for a CPA
Business
Accounting – B.S.
Have a knack for numbers or fine-tuning finances?...
Have a knack for numbers or fine-tuning finances?
- Time: 62% of graduates finish within 24 months
- Tuition: $3,830 per 6-month term
- Courses: 41 courses in this program
Skills for your résumé you will learn in this program include:
- Accounting
- Finance
- Financial Statements
- Communication
- Detail Oriented
- Research
Take your first step toward CPA certification and learn how to use GAAP, ledgers, and journals.
Business
Accounting – M.S.
Become better qualified to pursue a greater variety of public and private...
Become better qualified to pursue a greater variety of public and private accounting positions:
- Time: 62% of grads finish within 19 months.
- Tuition: $4,805 per 6-month term.
- Courses: 10-11 total courses in this program
This program offers 4 unique specializations for students to choose from, allowing you to gain specific experience and skills that will help you in your career. Choose from concentrations in taxation, auditing, management accounting, and financial reporting to boost your résumé.
Skills for your résumé that this program will prepare you for:
- Accounting
- Auditing
- Tax Planning
- Financial Management
- Communication
- Data Analysis
- This MAcc program is designed to prepare you for the CPA exam and also the CMA or CIA exams.
Business
Finance – B.S.
This online finance program is career-focused so you will gain relevant...
This online finance program is career-focused so you will gain relevant industry skills.
- Time: 62% of graduates finish similar programs within 24 months
- Tuition: $3,830 per 6-month term
- Courses: 41 courses in this program
Some careers and jobs this business degree will prepare you for:
- Management
- Accounting
- Finance
- Spreadsheets
- Financial Analysis
- Problem Solving
The competency-based model at WGU allows you to move as quickly as you can master the material, and do your coursework on your schedule. Flexibility is key with the B.S. in finance at WGU.
Business
Accounting Fundamentals Certificate – School of Business
Enhance your résumé and showcase your skills with an accounting...
Enhance your résumé and showcase your skills with an accounting fundamentals certificate from the School of Business.
- Time: 6 months from start to finish.
- Cost: $2,000 for the certificate.
- Courses: 5 courses total in this program.
This program is designed for individuals who want to boost their résumé with the help of an accounting fundamentals certificate from WGU’s School of Business.
Whether you want to advance your career in this field, or you're just getting started, an accounting fundamentals certificate can help you be ready for your next career step. You'll be prepared to work in a variety of industries including:
- Startups
- Healthcare
- Manufacturing
- IT
- Retail
- E-Commerce
Business
Advanced Accounting Courses
Earn graduate-level credit, build specialized skills, and move your career...
Earn graduate-level credit, build specialized skills, and move your career forward—on your schedule.
- Time: 2 months per course.
- Cost: $1000 per course.
- Courses: 7 courses total in this program.
WGU’s Advanced Accounting Courses are designed for professionals who already hold a bachelor’s degree in accounting and want to take their expertise to the next level. .
Whether you're sharpening skills for your current role or preparing for future advancement, each course offers flexible, graduate-level learning with real impact.
- Earn graduate-level credit that transfers directly into WGU’s Master of Accounting program
- Fulfill additional educational requirements often needed to qualify for CPA exam eligibility*
- Strengthen your qualifications for roles in tax, audit, compliance, and financial reporting
- Build specialized expertise in high-demand areas like fraud prevention, data analytics, and ethical decision making
- Demonstrate initiative and upskilling on your resume and in performance reviews
- Explore graduate education without the full commitment of a master’s degree
How Much Does a CPA Make?
$81,680
According to the U.S. Bureau of Labor Statistics (BLS), the median annual salary for accountants and auditors as of May 2024 is $81,680. This includes CPAs, who may earn higher salaries due to their advanced qualifications and responsibilities. Additional factors that influence salary include location, experience, and job type. CPAs in metropolitan areas or those in managerial roles can earn well over $100,000 annually. Most CPAs see salary growth as they advance through their careers and advance to more senior-level opportunities.
What Is the Projected Job Growth?
5%
The BLS projects employment of accountants and auditors, including CPAs, to grow 5% from 2024 to 2034. This reflects ongoing demand for skilled accounting professionals who are knowledgeable about business law, taxation, and other fiscal regulations.
SKILLS
What Skills Does a CPA Need?
In addition to a strong foundation in mathematics and data analysis, Certified Public Accountants need a combination of technical knowledge, critical thinking, communication, and other professional skills:
- Tax knowledge. Tax laws and regulations constantly change. CPAs must stay current to ensure accurate advice and compliance.
- Business acumen. Understanding how businesses operate—from financial strategy to organizational structure—is essential for advising clients and making informed decisions.
- Technical proficiency. CPAs should be skilled with accounting software, spreadsheets, and other relevant tools and technology.
- Leadership. CPAs often supervise staff, guide clients, and manage multiple accounts, making strong leadership skills a valuable asset.
- Analytical skills. Critical thinking and problem-solving are essential for interpreting financial data and resolving complex tax challenges.
- Communication. The ability to clearly explain complicated financial information to clients, staff, and auditors is an essential part of the job. Strong verbal and written communication skills are key.
CPAs also need to be detail-oriented and able to manage multiple accounts at once. Developing these skills helps certified public accountants and their clients thrive.
Our Online University Degree Programs Start on the First of Every Month, All Year Long
No need to wait for spring or fall semester. It's back-to-school time at WGU year-round. Speak to an Enrollment Counselor today to begin your bachelor’s or master’s degree—and take the first step toward a CPA career.
Our Online University Degree Programs Start on the First of Every Month, All Year Long
No need to wait for spring or fall semester. It's back-to-school time at WGU year-round. Get started by talking to an Enrollment Counselor today, and you'll be on your way to realizing your dream of a bachelor's or master's degree—sooner than you might think!
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