Hi everyone,
It seems like forever since my last post but I did want to jump in with some information surrounding the post-exam process which has kept me pretty busy for the past year.
As all of you know the exam is only one of the 3 E’s (Education, Exam, and Experience) necessary to attain your NJ CPA license. I was partially completed with both my education and experience requirements at the time I completed my CPA exam so after passing I needed to concentrate on completing both of those eligibility requirements ASAP.
To complete my education component I enrolled in the Masters of Science in Taxation (MST) program at Fairleigh Dickinson University in September 2011 and pushed myself for 9 months to attain the 12 credits I needed to get to my 150 total. For anyone in the tax field, I strongly recommend enrolling in a MST program. It’s incredible how much you will learn and the skills you will develop being back in the classroom setting.
For all those with credits remaining, before you enroll in your local community college and take nonsensical classes to get to the 150 credit total – take a moment to consider a Masters degree. Whether it be a MST, Masters of Public Accounting (MSPA), Masters of Accounting (MSA), or Masters of Business Administration (MBA) all are very worthwhile degrees and would look great on your professional resume.
I should mention that if you do not have 150 credits at the time you applied for your initial NTS, you must submit to NASBA Licensing Services a transcript of the remaining credits you earned before you can begin the licensure application process. Only after the exam and education components are complete will the NJ State Board of Accountancy send you a letter informing you how to apply for your license.
Finally, after working for nearly two years at Deloitte I knew that I had the necessary experience required for my license application, however it is important to keep one thing in mind for those of you who work in the tax area. Be sure that when you complete you application at least 25% of your public accounting experience is in the scope of auditing services. This can trip a lot of people up and hold many tax professionals from attaining licensure. A former blogger and friend of mine, Kunal Mistry, wrote about his experience applying for the license as a tax professional: http://bit.ly/gxI5TG. For more on this you should also review the NJSCPA license page at: http://www.njscpa.org/index/students/cpa-exam/requirements.
-Jerry
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