According to the New York State Department of Labor, accounting and auditing professions were listed as being one of the most in-demand professions across the state. If you’re interested in being an accountant, there is definitely a market for you. You do have to complete a rather rigorous path to get there, though. Here are just some of the major steps you have to take if you want to become an accountant in New York.
Get your degree
The very first step in becoming an accountant in New York State is earning your degree. You must hold a bachelor’s degree or higher from a program that meets the 150 credit hour requirement. The school you obtain your degree from must be an accredited college that is registered with the New York State Board of Regents or the State Department of Education as licensure qualifying. Your degree may be obtained from a foreign country if you have your education credentials evaluated by the proper agency.
Pass the CPA exam
There are four parts to the current CPA exam. Those sections include Business Environment and Concepts, Financial Accounting and Reporting, Audit and Attestation, and Regulation. You can sign up to take a section during the first two months of every quarter; the third month is always a non-testing month. You can take the exams in any order that you choose, but they all must be passed in an 18-month rolling period. There are several private test preparation courses you can take to get ready for each section of the exam.
Once you pass the four sections of the CPA exam, you need to obtain the necessary experience. The required experience is set forth by the New York State Board of Education, Office of Professions, and the State Board of Regents. You must gain one year of full-time work (or the equivalent in part-time work) in the field of accounting. From your experience, you must be able to exercise the following skills: accounting, financial or tax consulting, management advisory services, auditing and attestation, and compilation. All work must be completed under the supervision of a current CPA holder and be performed at any of the following: A government agency, a private institution, public accounting firm, private industrial form, or educational institution. Keep in mind that 51% of employers say that they would automatically dismiss a candidate if they caught a lie on his or her resume, and 40% said it would depend on what the candidate lied about. Make sure you accurately document your experience and be as honest as possible.
Obtain your CPA license
Once you have completed the first three steps, you are eligible for the CPA license. You now must apply for your New York CPA license. There are a few forms you have to submit to the New York State Education Department. Once you get your license, you will need to keep it current by participating in continuing professional education.
For the 2017 fiscal year, roughly 45% of all tax dollars collected in New York City were from property taxes. If you want to be involved in the tax scene in New York, you have to follow these steps. It’s a long, tough road, but it surely pays off.