Tennessee Cpa Exam And License Requirements 2022

Tennessee CPA Exam

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Tennessee State Board of Accountancy (TNSBA) is the state agency with statutory authority to grant the CPA license. It sets the professional standards for practicing accountancy in the state.

This U.S. province undertakes a one-tier licensing approach. On that account, there is no criterion to receive a CPA certificate. Instead, you directly acquire the CPA license after satisfying all the prerequisites. The state also partakes in the International Examination Program, allowing candidates to sit for the exam at designated test centers worldwide.

Tennessee is well-known for offering a thriving business environment. This, accompanied by the fact that finance is one of the state’s most vital industries, makes it an ideal destination for CPAs. Also, the state ranks high among aspiring CPAs because of its high quality of life, low taxes, and immense employment opportunities.

Here is the catalog for Tennessee CPA Exam and license requirements.

Contents

Tennessee CPA Exam Requirements

Eligibility RequirementsFeesRequired Documents

Tennessee CPA License Requirements

Education RequirementsExam RequirementsExperience RequirementsEthics Requirements

Continuing Professional Education (CPE)

Tennessee Exam Information & Resources

Tennessee CPA Exam Requirements

The Uniform CPA Exam refers to a computer-driven sequential test comprising four parts. Passing it is the key requirement for licensure in all states, including Tennessee. Being one of the most demanding professional examinations, the CPA ExamCPA ExamA Certified Public Accountant (CPA) is a US state board-issued license to practice the accounting professionread more requires extensive accounting studies and discipline to qualify.

The American Institute of Certified Public Accountants (AICPA), the National Association of State Boards of Accountancy (NASBA), and Prometric jointly supervise the examination process.

Candidates must conclude all four exam parts within 18 months from the testing date of the first qualified section. The passing grade for each section is 75 points on a scale of 0-99.

Each of the following exam sections is four-hour long:

Business Environment & Concepts (BEC CPA ExamBEC CPA ExamThe BEC CPA Exam (Business Environment and Concepts) exam section evaluates your understanding of the general business environment and your duties and responsibilities as a CPA towards it. It assesses your ability to recognize and scrutinize situations related to Financial reporting, Financial statement audit and attestation and Tax preparation
read more)Financial Accounting & Reporting (FAR CPA ExamFAR CPA ExamThe Financial Accounting and Reporting (FAR) CPA Exam section tests a candidate’s competency in understanding and applying financial accounting and reporting standards.read more)Auditing & Attestation (AUD CPA ExamAUD CPA ExamAuditing and Attestation (AUD) is one of the four Uniform Certified Public Accountant (CPA) Exam sections to be passed for CPA licensure. With a complex exam format, tricky questions, and an exhaustive list of topics to study, you will benefit from some quick tips on the art of preparing for the AUD CPA exam section.read more)Regulation (REG CPA ExamREG CPA ExamREG CPA Exam (Regulation) exam section tests a candidate’s competency in applying the concepts of federal taxation, business law, and ethics. It is a four-hour exam with 15 minutes break.
read more)

The test contains five testlets. They feature Multiple-choice Questions (MCQs), Task-based Simulations (TBSs), and Written Communication Tasks (WCTs).

Eligibility Requirements

Tennessee CPA Exam applicants must:

Hold at least a four-year bachelor’s degree from an authorized instituteEarn a minimum of 18 semester hours (27 quarter hours) of upper-division level accounting coursework (excluding internship credits)

Upper-division includes junior level or higher courses. Candidates currently enrolled in college may apply for the CPA Exam. However, they must fulfill the education requirements before attempting the exam.

Apply for the Exam through CPA Examination Services (CPAES). For complete procedure, kindly check the NASBA portal.

NASBA Advisory Evaluation service is also accessible to ascertain any educational inadequacies in your transcripts before submitting the initial application.

Fees

First-time applicants:

Re-exam applicants:

Note that there is no option to withdraw from the CPA Exam or request a Notice-to-Schedule (NTS) extension in Tennessee. Nevertheless, applicants can request an NTS extension or a partial exam fee rebate in grave circumstances.

Both examination and application fees are non-refundable. Therefore, you must only apply for the exam section(s) possible to take up during the timeframe of six months (NTS expiry).

Required Documents

Submit the following documents to CPAES.

The attached photograph must be taken within the last three months, revealing your head and shoulders only. Please do not submit photocopies of documents as they are deemed unofficial and unacceptable.

Tennessee CPA License Requirements

The table below stipulates six preconditions for Tennessee CPA licensure.

You don’t have to satisfy the minimum age, U.S. citizenship, or state residency requirements. Once you pass both CPA Exam and Professional Ethics Exam, TNSBA will send you the CPA licensure application packet. However, you must obtain the required experience before final submission. Further details are mentioned on the TNSBA website.

Here are the applicable fees.

Initial license – $100Transfer of grades – $100Reciprocal license – $200

Education Requirements

Tennessee CPA licensure applicants must gain a baccalaureate degree from an authorized institute with 150 semester hours encompassing:

At least 30 semester (45 quarter) hours in accounting with a minimum of 24 hours in upper-division courseworkMinimum 24 semester (36 quarter) hours in business courses, including:Algebra, calculus, statistics, probabilityBusiness lawFinanceEconomicsMarketingManagementTechnology (computer)/information systemsBusiness communicationsEthics
Algebra, calculus, statistics, probability
Business law
Finance
Economics
Marketing
Management
Technology (computer)/information systems
Business communications
Ethics

Your school or the evaluation service provider must directly send the documents or evaluations to NASBA Licensing Services for credential evaluation.

Exam Requirements

Candidates must pass all four Uniform CPA Exam sections within the rolling 18-month period. The passing grade for each section is at least 75 points. Please visit the Tennessee Exam Requirements section for more information.

Experience Requirements

You must obtain one year of board-acceptable accounting experience. It may be full-time or part-time with at least 2000 hours earned during the 1–3 years. Ensure to attain employment within ten years immediately before submitting the licensure application.

Ethics Requirements

Tennessee CPA aspirants must pass the AICPA-regulated Ethics Examination with at least 90%. It is available on the Tennessee Society of CPAs (TSCPA) and AICPA websites.

Let’s view all the details.

Ensure to upload the ethics exam certificate along with your licensure application.

Continuing Professional Education (CPE)

Each licensed CPA in Tennessee must earn 80 CPE credit hours every two years for license renewal. Moreover, TNSBA permits licensees to only engage in the programs sponsored by the NASBA National Registry of CPE Sponsors.

Here lie all the details.

As per the Forbes ratings, Tennessee is one of the most business-friendly states in the U.S. Therefore, prominent firms like Dollar General and FedEx are headquartered here. Thus, finding good companies to work with won’t pose a problem for licensed professionals in the state.

Moreover, according to the U.S. Bureau Department of Labour, the annual median wage for accountants and auditors is $73,560 as of 2020. Also, the employment rate for accountants is projected to grow by 5-10%, with 135,000 expected job openings in the coming decade. All these numbers are enough to assert the prospects of CPAs in the state.

So, gear up for the CPA title in Tennessee by satisfying all the exam and license requirements. Indeed, this credential will boost your professional growth like never before! Learn more about CPE Credits for CPACPE Credits For CPAAs a Certified Public Accountant (CPA), you need to acquire Continuing Professional Education or CPE credits for sustaining your license. This ensures that you are actively involved in improving your know-how of the profession by engaging in learning activities.read more

Tennessee Exam Information & Resources

Tennessee Department of Commerce & Insurance (https://www.tn.gov/commerce.html)

500 James Robertson Pkwy

Nashville, TN 37243-0565

(615) 741-2241

Tennessee Society of CPAs (https://www.tscpa.com/)

201 Powell Place, Brentwood, TN 37027

Phone: 615-377-3825

Fax: 615-377-3904

[email protected]

AICPA (https://www.aicpa.org/)

220 Leigh Farm Road

Durham, NC 27707-8110

Tel: 888.777.7077

Fax: 800.362.5066

NASBA (https://nasba.org/)

150 Fourth Ave. North

Suite 700

Nashville, TN 37219-2417

Tel: 615-880-4200

Fax: 615-880-4290

CPAES

150 Fourth Avenue, North

1.800.CPA.EXAM