Costs to Become a CPA
Becoming a CPA is an investment in your future. However, this investment doesn't come without some expenses. There are several costs to consider as you work towards your CPA certification. To keep expenses manageable, practice thoughtful scheduling and diligent preparation.
One of the wisest investments you can make on your path to becoming a CPA is to choose a review course that works for you. Fees depend on provider and course type; self-study courses average $2,000 and live courses average $4,000. Select review course providers offer MNCPA group discounts (see details for eligibility). Remember that your preparation can help you pass each section the first time and avoid re-take fees.
Total exam cost varies based on jurisdiction, application, section and re-take fees. A future CPA in Minnesota applying for all four sections at one time can expect to spend about $1,100. An application fee or registration fee is required each time you apply, so be mindful of your schedule to avoid additional fees. It's recommended that you sign up for as many sections as you feel comfortable taking in a six-month period. Check out the most current fees on NASBA's website.
Self-study ethics exam
Minnesota CPAs are required to pass a self-study ethics exam prior to certification. This ethics exam is available from the AICPA. The cost is about $245, although a discount is available for AICPA members.
Once you've passed the exam and met the other requirements for certification, you'll apply for a CPA certificate through the Minnesota Board of Accountancy. Your initial application fee is $150.
Plan to spend at least $1,500 plus review course costs to obtain your CPA certificate. Note that many employers will help cover the costs of becoming certified. Even if yours won't, this is an investment that will pay for itself many times over throughout your career.
The scenario below explains the costs for a future CPA who has taken a self-study review course, applied for two sections at a time and has re-applied to take a section not passed on the first try.
|Self-study review course
|Apply for 2 sections ($170.00 application fee + $238.15 for AUD + $238.15 for BEC)
|Apply for 2 sections ($170.00 application fee + $238.15 for FAR + $238.15 for REG)
|Re-apply for REG ($85.00 registration fee + $238.15 for REG)
|Self-study ethics exam
|Initial CPA certificate application
CPA exam reimbursement dollars available to military members
Reimbursement dollars are available to veterans for expenses related to preparing and sitting for the CPA exam. Veterans qualify for reimbursement of testing expenses up to $2,000. In certain cases, spouses and/or dependents of active duty service members can qualify for reimbursement of expenses toward education and testing.