Learn How to Become a Licensed Certified Public Accountant In Indiana
Indiana is home to one of the most dynamic economies in the U.S. The state is best known for agriculture, manufacturing, energy, and public service. Besides, it plays host to the world’s biggest sporting event, the Indianapolis 500 car race. This diversified economy presents unique employment opportunities for licensed Certified Public Accountants.
Demand for public accountants is high in Indiana as businesses, companies, government agencies, and organizations are always looking for these professionals to keep their accounting books in order. Pursuing a career in accountancy is arguably one of the best career choices you can make in Indiana.
Indiana has a strict set of requirements that CPA candidates must meet in order to become licensed. Let’s look at the IN CPA requirements and what you need to do to take the CPA exam and become a CPA in Indiana.
Basic Requirements For CPA Certification in Indiana
Prospective CPA candidates must meet the follow CPA requirements to take the CPA exam in Indiana and become a licensed certified public accountant:
- Be at least 18 years of age
- Must have a socials security number
- Show proof of at least 24-semester hours in undergraduate accounting
- Show proof of 2-years work experience majoring in accountancy
- US Citizenship: not required
- Indiana Residency: not required
Unlike in other states, you don’t need to be a U.S citizen or an Indiana resident to become a certified public accountant in Indiana.
Upon meeting the basic requirements, the process of becoming a certified public accountant is pretty simple. The process entails:
Getting an education in the state
- Taking the Uniform CPA Exam
- Gaining the necessary work experience
- Getting the Indiana CPA License
- Continuing Education
Indiana CPA Certification Education Requirements
Indiana’s education requirement for CPA certification is similar to that of other states. Indiana requires a bachelor’s degree with a minimum of 150 semester hours. You can fulfill these requirements with either a bachelor’s degree or a graduate degree.
Bachelor’s Degree must include:
- Accounting courses: 24 semester hours
- Business Courses: 24 semester hours at undergrad
- 150 credits in total
Graduate/Master’s Degree must include:
- Accounting courses: 24 semester hours at undergrad level or 15 hours at graduate level
- Business Courses: 24 semester hours at undergrad or graduate level courses
- 150 credits in total
The accounting course work must include financial accounting, auditing, taxation, and managerial accounting; whereas, the business coursework must include 6 hours of business/tax law and computer science.
Candidates who meet all the academic requirement can send transcripts to the Indiana State Board for evaluation. International students must submit their academic credentials for accreditation by one of the accrediting agencies, including the NASBA International Evaluation Services.
If you are an out-of-state or international CPA candidate, it’s a good idea to get your educational Indiana CPA requirements approved before you apply to take a section of the CPA exam. If your education is not approved, you may have to pay extra fees to reapply in the future.
Upon completing the education portion of the application process, CPA candidates can apply to sit for the Uniform CPA exam.
Indiana CPA Exam Requirements
After you complete the education requirements, all you have to do is submit your transcripts and government ID with your CPA application to the Indiana State Board.
Here are the requires to take the CAP exam in Indiana:
- Must have earned a bachelors’ degree or higher
- Must have accumulated at least 150 semester hours
- Must be at least 18 years old
- Must have a social security number
If you are still in college, ask the college to submit an official transcript of the 150 semester hours and the bachelor’s degree. Likewise, the college should submit a completed Certificate of the Enrollment Form. All documents should be mailed to the CPA Examination Services.
Once your education is approved by the State Board and your application fees are paid, you will be issued a NTS. Upon receiving the Notice of Schedule, you can visit the Prometric website to schedule a testing date for your exam.
IN CPA Exam Costs & Fees
In addition to meeting all the requirements, CPA candidates must pay the requisite CPA exam fee for the exam. The cost of taking all four sections is $743 plus an initial $150 application fee. The re-examination fee varies depending on the sections.
- Auditing and Attestation (AUD): $195.35
- Business Environment and Concepts (BEC): $176.25
- Financial Accounting and Reporting (FAR): $195.35
- Regulation (REG): $176.25
- Application Fee: $150
While scheduling the CPA exam in Indiana, it is important to only pay for an exam one intends to take within six months. This is because the notice to schedule expires after exactly six months.
Indiana CPA License Requirements
If you want to own, operate, or partner in a CPA firm in the state of Indiana, you will need to get your CPA license. But just because you passed the exam, doesn’t mean you are eligible for licensure. Indiana has a few extra qualifications that must be met in order order to become licensed after you pass the exam.
CPA candidates must complete these CPA license requirements to become licensed in Indiana:
- Proof of 150-semester hours of college education
- Taking and passing the uniform CPA exam
- Completion of two-year accounting employment experience
- Submission of all CPA license application paperwork
Work Experience Requirements
The Indiana Board of Accountancy requires a prospective certified public accountant to accrue a minimum of two years work experience before they are eligible to be licensed. The work experience can come in the form of:
- An accounting employee or intern in a public firm
- Financial or accounting employee in a nonprofit or government agency
- An Employee providing operational accounting and financial consulting services
- An instructor teaching accounting
All work experience must be supervised by a CPA in good standing.
Indiana CPA License Application & Renewal
Once a CPA license is issued, it is essential to keep it current. This means that you will need to renew your license each year through the State Board website.
Likewise, CPA license holders are required to complete at least 120 hours of continued professional education (CPE) every three years. Your CPE certificates should be saved in your records, as they must be submitted to the State Board with your license renewal forms and renewal fees.
Paying the CPA license Application fee
All CPA license application documents should be sent to the Indiana State Board of Accountancy Professional Licensing Agency.
Indiana CPA Salary
The average licensed CPA salary in Indiana is $72,000 a year according to the Indiana Department of Labor. The salary varies depending on the level of experience as well as where one is working.
License CPA professionals work in diversified fields across the state. For instance, some pursue careers in forensic accounting tasked with rooting out fraud and embezzlement of funds.
Likewise, some pursue management accounting focusing on improving efficiency in firms, while others pursue careers around taxation.
Additional Indiana CPA Resources
Here are a number of useful resources you should use to understand how to take the CPA exam in Indiana and become a certified public accountant.