In an ever-evolving accounting landscape, the path to becoming a Certified Public Accountant (CPA) in Mississippi intertwines traditional requirements with the emerging demands of the digital era.
Our experts have meticulously studied the process, ensuring that the information provided is both comprehensive and up-to-date. As the American Institute of CPAs (AICPA) emphasizes, the CPA landscape is ever-changing, and so are licensure requirements. This article navigates the specifics of CPA licensure in Mississippi, aligning the state’s unique requirements with the broader, dynamic trends shaping the future of accounting.
Mississippi CPA Licensure Requirements
To be eligible to sit for the CPA exam, students must first fulfill these qualifications and requirements:
- Minimum age: None
- U.S. Residency Required
- State Residency Required: Must be a resident, employee, OR have an office in the state
Education Requirements
- Bachelor’s degree or above with an accounting concentration
- 150-semester units from an accredited university or educational institution
- Must have at least 48 semester units of upper-division accounting or business courses
- Accounting courses: 24 semester units, including 3 units in:
- Financial Accounting
- Auditing
- Taxation
- Management Accounting
- Government or Not-for-Profit Accounting
- Other general business courses: 24-semester units
Work Experience
1 year of relevant work experience supervised and verified by an active CPA licensee is required. The work should be in the fields of accounting and auditing, management advisory, financial advisory, tax, or consulting services. This ensures that the experience is relevant to the core competencies expected of a CPA.
Ethics Exam
Passing the AICPA ethics exam (Cost of course is $320 or $250 for AICPA members)
Steps to Getting Your CPA in Mississippi
- Pass all 4 sections of the CPA exam with a score of 75% or higher
- Complete verified accounting work experience
- Pass the AICPA Ethics Exam
- Fill out and submit all required CPA license application paperwork
- Pay the CPA license application fee
The Youngest CPA
One important thing to note here is that there is no age requirement for CPA licensure. In fact, a 15-year-old passed the CPA exam in Mississippi in 2023, according to the Journal of Accountancy. This young man, Jimmy Chilimigras, graduated high school at 12, college at 14, and got a master’s degree in just six months. He also crushed the LSAT exam. He is now believed to be the youngest person to pass the CPA exam, and although he’s obviously gifted, it didn’t come easy to him.
His reaction to finding out he passed was: “My reaction? I was full of relief. It felt very good to have completed it,” Chilimigras said. “The CPA Exam is really challenging.”
Chilimigras failed the Financial Accounting and Reporting (FAR), coming up two points shy of passing the first go around. His second time around, he passed.
“It’s a really well-put-together exam, but not just because it’s so challenging,” Chilimigras said. “I feel like when I took it, I really had to learn a lot and expand my knowledge. And it really prepared me to be a CPA.”
Challenge indeed. This is why it’s even more important to find a CPA review course that fits your budget, learning style, and schedule.
CPA and accounting expert Bryan Kesler was a mentor to Jimmy Chilimigras, highlighting the added importance of having one-on-one help along the way.
*Note: Candidates must get a CPA license within 5 years of passing the CPA exam
Mississippi CPA Exam and Licensure Fees
You should not apply and pay for exam sections that will not be taken within six months because your Notice to Schedule (NTS) in Mississippi expires six months after issuance.
The cost to take all four sections of the CPA exam in Mississippi is $1019.80 plus the initial $110 application fee and $100 board processing fee. The re-examination registration fee varies depending on the number of sections you are signing up for.
| Auditing and Attestation (AUD) | $254.80 |
| Business Environment and Concepts (BEC) | $254.80 |
| Financial Accounting and Reporting (FAR) | $254.80 |
| Regulation (REG) | $254.80 |
| Application Fee: | $150 |
CPA Exam Updates in Mississippi
In Mississippi, recent updates to the CPA Exam reflect the evolving landscape of the accounting profession. As detailed on NASBA’s website, a significant change is the introduction of the Continuous Testing model. This allows candidates to retake sections of the CPA Exam in the same testing window, a shift from the previous restriction of waiting until the next quarter. This change is particularly beneficial for those needing to retake parts of the exam, offering more flexibility and reducing the time to complete all four sections.
Another notable update, as outlined on Evolution of CPA, is the integration of the CPA Evolution model into the exam. This model is designed to better align the exam with the skills and knowledge required in a rapidly changing profession. It includes a greater emphasis on technology and analytical skills, preparing candidates for the modern demands of the accounting field. These changes underscore the commitment to ensuring that the CPA credential remains relevant and valuable in the face of technological advancements and changing business environments.
Experts Tips to Become a CPA in Mississippi
Understanding the specific requirements set by the Mississippi State Board of Public Accountancy is crucial for CPA candidates. It’s essential to delve into the state’s unique prerequisites, like the exact credit hours in accounting and business, and the specifics of the ethics exam. Gaining practical experience through internships or mentorships with experienced CPAs in Mississippi is invaluable. This not only deepens your understanding of the field but also opens doors to networking opportunities and insights into the local accounting landscape.
Choosing the right CPA review course is a pivotal step towards exam success. Candidates should opt for a course that matches their learning style and fits into their schedule. Consider whether you prefer an online format or in-person sessions, the depth of the material, and the availability of support resources like tutoring or forums.
Lastly, I always encourage candidates to use online resources and forums to connect with fellow CPA aspirants in Mississippi. Sharing experiences and study strategies can offer both moral support and practical advice, making the journey towards CPA licensure a more collaborative and less daunting experience.
CPA Exam Resources and Local Organizations in Mississippi
- Mississippi CPA Exam Candidates
- Mississippi CPA License FAQ
- Mississippi CPA Examination Application
- Mississippi Society of Certified Public Accountants
For more details, please contact:
Mississippi State Board of Public Accountancy
5 Old River Place, Suite 104
Jackson, MS 39202-3449
Email: [email protected]
Phone: 601-354-7320
Fax: 601-354-729
What’s Next?
It can take several weeks for your application to be processed, so don’t waste that valuable time waiting to hear back from your state board. If you start studying now, you will get a nice jump start on the material and will be better prepared to pass your first CPA exam!
FAQ
Candidates must have a bachelor’s degree or higher with an accounting concentration and 150-semester units from an accredited university, including specific accounting and business courses.
Yes, candidates must be a resident, employee, or have an office in the state to apply for the CPA exam in Mississippi.
Candidates must apply for licensure within 3 years of passing the CPA examination, complete verified accounting work experience, pass the AICPA Ethics Exam, and submit all required application paperwork along with the application fee.
Answer: Candidates must get their CPA license within 5 years of passing the CPA exam. Failure to do so may require retaking the exam or meeting additional requirements.
Yes, passing the AICPA ethics exam is a requirement for CPA licensure in Mississippi.
Bryce Welker is a regular contributor to Forbes, Inc.com, YEC and Business Insider. After graduating from San Diego State University he went on to earn his Certified Public Accountant license and created CrushTheCPAexam.com to share his knowledge and experience to help other accountants become CPAs too. Bryce was named one of Accounting Today’s “Accountants To Watch” among other accolades. As Seen On Forbes
