How to become a CPA in Minnesota?

Aspiring CPAs in Minnesota must go through an official licensure process to work as a CPA. This process involves three steps, each of which has its specific requirements.

The Minnesota Board of Accountancy overlooks the licensure procedure in the state. Aspiring CPAs must register with the board and meet all the board’s requirements to get their CPA license.

How to become a CPA in Minnesota?

Aspiring CPAs in Minnesota must start with obtaining formal education. Their education must come from an accredited university or college. Similarly, it must meet all the requirements set by the Minnesota Board of Accountancy.

Once they go through the process, they must take and pass the Uniform CPA Exam. Lastly, they must go through practical work experience and meet the board’s requirements.

Applicants must also meet Minnesota’s residency requirements. Meeting these requirements is crucial to take the Uniform CPA Exam and obtain a CPA license. Therefore, applicants must meet one of the following residency conditions.

  • Applicants must be a resident of Minnesota.
  • They must be a regular employee in Minnesota.
  • They must be working in Minnesota to obtain qualifying experience.
  • They will be working in Minnesota within 90 days of completing the Uniform CPA Exam.

Going through the above process is crucial for becoming a CPA in Minnesota. Once applicants meet all the above requirements, they can apply to get their CPA license in Minnesota.

Educational Requirements

Applicants must go through a formal education period before their licensure. This process is crucial for understanding the fundamentals of the accounting profession. During this step, applicants must meet the following requirements from the Minnesota Board of Accountancy.

  • Applicants must enrol in an accredited university or college that house accounting departments. Those who have already enrolled in or graduated from a university or college must ensure the board will accept their credit hours.
  • Minnesota has three levels of accreditation for universities or colleges. These include the following.
    • Level 1 Accreditation: This level is for universities or colleges accredited by a national or regional accrediting agency listed with the US Department of Education.
    • Level 2 Accreditation: This level is for colleges of business or business schools accredited by a national accrediting agency listed with the US Department of Education.
    • Level 3 Accreditation: This level is for accounting programs or department accredited by a national accrediting agency listed with the US Department of Education.
  • The board also accepts applicants who have obtained their education from a university or college outside the US. However, they must have their credentials assessed by the NASBA International Evaluation Services.
  • Applicants must also enrol in classes that count for credit. There are three pathways for those who have earned their degree on or after July 1, 2006. These include the following.
    • Earn a graduate degree from a Level 3 accredited accounting program with a concentration on accounting. They must also complete 150 total undergraduate or graduate-level credits.
    • Earn a graduate degree with at least 150 total undergraduate and graduate-level courses from a Level 2 accredited business program. It must include the following.
      • 24 undergraduate semester hours in accounting courses
      • 15 graduate semester hours in accounting courses
      • These courses must include the following subjects.
        • Auditing
        • Financial accounting
        • Management accounting
        • Taxation
    • Earn a bachelor degree with at least 150 total credits from a Level 2 accredited business program, including the following.
      • 24 undergraduate (or graduate) semester hours in accounting courses which include courses in the following.
        • Auditing
        • Financial accounting
        • Management accounting
        • Taxation
      • 24 undergraduate (or graduate) semester hours in business-related or accounting courses.
    • Earn a bachelor’s degree with at least 150 total credits from a Level 1 accredited school. These must include the following.
      • 24 upper-level undergraduate (or graduate) semester hours in accounting courses that includes courses in the following.
        • Auditing
        • Financial accounting
        • Management accounting
        • Taxation

Uniform CPA Exam

Applicants within 180 days of completing one of the degree pathways mentioned above can apply for the exam. During this period, applicants must fulfil the following requirements.

  • Applicants must register on the CPA Examination Services website online or through the application. They must also submit the following documents with it.
    • For applicants still enrolled in college, it includes the following.
      • Official transcripts from all colleges they have attended.
      • Certificate of Enrollment form.
      • Passport-sized photo.
      • Payments via check or money payable to CPA Examination Services.
    • For applicants who have graduated from college, it includes the following.
      • Official transcripts from all colleges they have attended.
      • Passport-sized photo.
      • Payments via check or money payable to CPA Examination Services.
  • They must schedule their exam with Prometric once they receive their notice to schedule.

Experience Requirements

Applicants must also go through a practical work experience period to get their CPA license in Minnesota. These include the following requirements.

  • Applicants must take and pass the American Institute of Certified Public Accountants (AICPA)’s Home Study Course on Professional Ethics.
  • They must complete one year (or 2,000 hours) of full- or part-time accounting experience, which must meet the following requirements.
    • It must not last less than one year and not more than three years.
    • It must include providing one or a combination of the following services:
      • Accounting
      • Attestation
      • Compilation
      • Consulting
      • Financial advisory
      • Management advisory
      • Tax
    • It must be in one of the following fields.
      • Academia
      • Government
      • Industry
      • Public practice
    • It must be verified by a licensed CPA.
  • Applicants must have their supervising CPA fill out the CPA Experience Verification Form.

Summary

Below is a summary of how to become a CPA in Minnesota.

  • Applicants must meet the educational requirements set by the Minnesota Board of Accountancy.
  • They must take and pass the Uniform CPA Exam.
  • They must complete the experience requirements set by the Minnesota Board of Accountancy.
  • They must apply for their Minnesota CPA license.

References

  1. “Minnesota Board of Accountancy” – https://boa.state.mn.us
  2. “Initial MN License Applicants” – https://boa.state.mn.us/applicants.html
  3. “Applications and Forms” – https://boa.state.mn.us/forms.html
  4. “Minnesota | NASBA” – https://nasba.org/exams/cpaexam/minnesota/