Mississippi requires that individuals seeking to become certified public accountants hold a bachelor’s degree. There is no minimum age requirement, and applicants do not have to be a U.S. citizen. However applicants are required to reside in Mississippi and have a valid Social Security number. Individuals who meet these qualifications can take the first step to getting licensed by taking the Uniform CPA Examination.
Step 1: CPA exam in Mississippi
Sitting for the CPA exam in Mississippi requires that candidates hold a bachelor’s degree or higher, and have 150 hours of credit, which includes coursework in accounting and related business courses.
Applicants must possess a bachelor’s degree or higher with an accounting concentration from a regionally accredited college or university that is recognized by the board and have 150 credit hours. Foreign applicants must have their educational credentials evaluated by any foreign credentialing evaluation service that provides a comprehensive course-by-course evaluation.
The coursework includes:
- 24 semester hours of upper-division or graduate-level accounting and business-related courses
- 24 semester hours of accounting courses, including 3 semester hours in:
- financial accounting
- management accounting
- government/not-for-profit accounting
Application and test fees
The Mississippi Board of Accountancy administers the exam. Applicants must arrange to have their educational transcripts sent to MBA, showing proof of a bachelor’s degree or higher from an accredited school.
The process to apply for the CPA exam starts with requesting and receiving authorization to take the test, followed by acknowledgement from the state and official notice to schedule (NTS) the exam. Once this process is completed, applicants can select a date to take the CPA exam. The NTS expires in six months, after which candidates must submit a new application. The exam is available the first two months of each calendar quarter.
State law requires that first-time applicants submit an application fee of $150 plus exam fees. Those who are retaking the exam are also required to pay a registration fee in addition to exam fees. Registration fees are $135 for four sections, $115 for three sections, $95 for two sections and $75 for one section.
The Uniform CPA Examination comprises four sections:
- Auditing and Attestation
- Financial Accounting and Reporting
- Business Environment and Concepts
Each section of the exam has a specified administration fee. Applicants may take one or more of the four required sections at a time. In addition to the administration fee for each section, CPA exam applicants are charged a separate fee for each testing session they take.
Taking, passing and retaking the CPA exam
The passing score for each of the four exam sections is 75. Applicants may take the sections individually and in any order, but are required to pass all four within a rolling 18-month period, which begins on the date the first examination section passed was taken.
Credit for any section passed shall be valid for 18 months from the actual date the examination section was taken. Examination credits expire by section, and applicants will lose credit for each section passed outside of the 18-month period.
Step 2: CPA license in Mississippi
After successfully passing all four sections of the exam and satisfying the work experience, applicants may then apply to become a certified public accountant in Mississippi. Applicants must submit a licensure application to Mississippi along with a $200 fee.
Education in Mississippi
Licensing requires that candidates hold a bachelor’s degree or higher and complete 150 semester hours of education, including 48 semester hours of of upper-division or graduate-level accounting and business-related courses.
Work experience in Mississippi
One year of general experience is required for licensing, which can be obtained through work in accounting and auditing skills, management advisory, financial advisory or by preparation of tax returns or providing tax advice. All work must be performed under the direction of a licensed CPA. Experience in academia is not accepted.
Out-of-state CPA licenses
Mississippi allows CPAs in good standing and licensed in other states or U.S. jurisdictions to practice in the state as long as the issuing state has been verified to be substantially equivalent to the National Association of State Boards of Accountancy’s Qualification Appraisal. Mississippi also recognizes individuals who hold foreign CPA certificates of licensure, provided they meet the requirements of Mississippi’s State Board of Public Accountancy and have had their credentials evaluated by a foreign credentialing service.
Disclaimer: Requirements for Mississippi CPA test-takers and license applicants are subject to change. Visit the state’s Board of Public Accountancy website to check for recent revisions to Mississippi’s CPA requirements.
Tags: AccountingLearn More: Click to view related resources.