What are Credits for CPE?
Certified Public Accountants (CPAs) need to earn credits for CPE (Continuing Professional Education) program and keep their CPA designation. It is to ensure that practicing CPAs stay up-to-date on the latest knowledge and skill set needed in the industry.
The Board of Accountancy of the state determines the total number of CPE credits, so the requirements vary depending on where CPAs are registered. However, no matter where you practice accounting, one CPE credit is equivalent to 50 minutes of professional financial training.
How to Earn CPE Credits
CPE credits can be earned by taking part in workshops, webinars, and industry conferences. You can also take self-study courses or online or in-person classes. You’ll find a wide array of courses that qualify for CPE credits, covering different topics such as tax laws, best practices in accounting, and the latest technology in the industry. You can likewise earn some CPE credits by teaching classes or writing related professional books.
Before taking a course, make sure that it is approved by the state and the professional organizations involved. Do your research on the organization or institute and see if the credits qualify for your Continuing Professional Education requirements.
After completing a course, you will receive a copy of the certificate from the financial organization that facilitated the training. It is important as the State Board of Accountancy may ask you to submit all CPE certificates to make sure that you comply with the requirements.
With several options for earning CPE credits, you can choose the most convenient and efficient way for you. Each type of CPE-approved training or course corresponds to a certain number of credits. It’s a matter of preference and depends on the number of credits that you need to earn for a specific timeframe. For example, attending a conference is worth six credits, while taking part in a one-hour webinar will give you one credit.
Another thing to keep in mind is that obtaining CPE credits is not free of charge. Courses can cost hundreds or even a few thousand dollars. You need to shell out money to pay for the CPE-approved training, workshop, or class that you need to take. If you’re employed, your employer may see it as an additional employee benefit. CPE is part of your career growth and development that is also beneficial for the company. They may be willing to pay the partial or the full amount.
Obtaining CPE credits is a crucial part of the learning process. Aside from maintaining your CPA designation, CPE ensures that you possess the necessary knowledge, skills, and attitude to provide high-quality professional services to clients. It can also enable you to take that big leap towards career development and open new doors to various opportunities in your professional life.
CFI offers the Financial Modeling & Valuation Analyst (FMVA)™ certification program for those looking to take their careers to the next level. To keep learning and advancing your career, the following resources will be helpful: