Certified Public Accountants, just like doctors, are experts who have studied and trained for years to do what they do. Just knowledge isn’t enough either, a professional has to be accredited, or certified, as a public accountant before financial statements they prepare are taken as true and correct.

Before anyone who wants to be a CPA in the United States is licensed, the prospective accountant must study for, take and pass the Uniform Certified Public Accountant Examination also known as the Uniform CPA Exam. This test is screened by the American Institute of Certified Public Accountants and executed by the National Association of State Boards of Accountancy. Laws regulating the certification of accountants have been in place since 1896.

Qualified applicants to take the Uniform CPA Exam depend on satisfying requirements set by the different State Boards of Accountancy. The most common qualification is a U.S. bachelor’s degree. The college degree should include a minimum number of monitored credit hours in accounting and business administration, and normally, an additional year of study.

The minimum requirement of 5 years of study is known as the “150 hour rule” and has been imposed by the majority of state boards, although there are still some exceptions. Except for California and a few others, the requirement mandating 150 hours of study has been adopted by 45 states.

Accountants who receive their certification in other countries, and who desire to become U.S. CPAs may usually choose to take the International Qualification Examination instead of applying for the Uniform CPA Exam.

The Uniform CPA exam tests general principles of state law such as the law of contracts and agency and some federal law as well.