Table Of Contents
Michigan CPA Exam
Michigan CPA (Certified Public Accountant) License is a professional permit that accredits accountants to offer public accounting services. With robust economic growth, Michigan yields umpteen opportunities for accountants to advance their careers. To capitalize on these possibilities, candidates must secure the Michigan CPA License by qualifying the CPA Exam and meeting other requirements.
Michigan Board of Accountancy (BOA) is the licensing body for CPAs in the state. It establishes rules, grants licenses, and regulates the profession. It targets to protect the public interest by ensuring the license holders demonstrate utmost integrity and competence in their professional conduct.
Michigan is a one-tier state. Therefore, candidates do not obtain a CPA certificate for passing the CPA Exam successfully. Alternately, successful candidates qualify for the CPA license only after satisfactorily meeting the compulsory education and experience criteria. Note that the state also partakes in the international administration of the CPA Exam.
Michigan has a business-friendly environment that ranks among the best in the country. Its geographic advantage and significant talent pool attract businesses to expand their operations here.
Moreover, with 17 Fortune 500 enterprises, Michigan is also ranked among the top 10 states for most Fortune 500 headquarters nationwide. With a low cost of living and growth-oriented business climate, it is the ultimate destination for aspiring CPAs.
Let’s brief you on everything about the Michigan CPA exam and license requirements without further ado.
Particulars | Details | |
Licensing Agency | Michigan Board of Public Accountancy | |
Licensing Pattern | 1-tier | |
Age Requirement | No minimum age | |
Residency Requirement | Not required | |
Citizenship Requirement | Not required | |
Social Security Number | Required | |
Education Requirement | For Examination | 120 semester hours with a bachelor’s degree |
For License | 150 semester hours with a bachelor’s degree | |
Examination Requirement | Pass the CPA Exam with at least 75 points on a scale of 0-99 | |
Experience Requirement | 2,000 hours of relevant experience | |
Ethics | Not Required |
Contents
Michigan CPA Exam Requirements
Michigan CPA License Requirements
Michigan CPA Exam Requirements
The computerized CPA Exam covers four sections developed to test your awareness and caliber as a newly licensed CPA. The passing grade for each four-hour-long section is 75 points on a scale of 0-99.
- Regulation (REG CPA Exam)
- Auditing & Attestation (AUD CPA Exam)
- Financial Accounting & Reporting (FAR CPA Exam)
- Business Environment & Concepts (BEC CPA Exam)
The American Institute of Certified Public Accountants (AICPA), the National Association of State Boards of Accountancy (NASBA), and Prometric develop and supervise the examination.
Candidates have a rolling 18-month term for successful CPA exam completion, beginning from the testing date of the first passed section.
Eligibility Requirements
Candidates must take one of the following pathways to be eligible to take the CPA Exam:
Particulars | Pathway 1 | Pathway 2 |
Required Degree | Baccalaureate degree with an accounting major from a regionally authorized institute | Baccalaureate degree from a regionally authorized (or equivalent) institute |
Total Required hours | Minimum 120 semester hours | Minimum 120 semester hours |
Auditing | 3 semester (4.5 quarter) hours | 3 semester (4.5 quarter) hours |
Accounting | 21 semester hours (31.5 quarter hours) covering the following subjects:
| 21 semester hours (31.5 quarter hours) covering the following subjects:
|
General Business Subjects | 24 semester (36 quarter) hours | 24 semester (36 quarter) hours |
Applicants currently enrolled in college must complete the educational requisites and confirm degree conferral within 60 days after attempting the first exam section.
Candidates must apply for the exam through CPA Examination Services (CPAES). While submitting the application, they must attach the required fees and documents. Please check the NASBA portal for more information.
NASBA Advisory Evaluation service is also available to identify any academic drawbacks in the documents before submitting the initial application.
Fees
Here is the Michigan exam fee structure for re-examination candidates.
CPA Exam Sections | Exam Fees (per section) | Total Exam Fees (all sections) | Registration Fees | Total Fees |
4 Exam Sections | $238.15 | $904.6 | $85 | $1001.6 |
3 Exam Sections | $238.15 | $678.45 | $85 | $772.45 |
2 Exam Sections | $238.15 | $452.3 | $85 | $543.3 |
1 Exam Sections | $238.15 | $226.15 | $85 | $314.15 |
Michigan exam applicants can’t drop out from the test or request a Notice-to-Schedule (NTS) extension. Nonetheless, they may request to extend their NTS or a partial exam amount refund only in exceptional conditions.
Since both application and examination fees are non-refundable, applicants must schedule and sit for the applied section(s) within six months of the NTS issuance date. Or else they would lose the fees.
Required Documents
Let’s view the required documents.
The e-transcripts must be sent by the candidate’s college or university directly to CPAES. Moreover, candidates with Canadian educational credentials may directly submit the documents along with the exam application. However, candidates must not submit photocopies of transcripts as they are considered unofficial and unacceptable.
Michigan CPA License Requirements
Here is a quick checklist for Michigan CPA licensure requirements.
The Great Lake State does not have a minimum age, U.S. citizenship, or state residency requirements. Candidates must submit the CPA licensure application, fees, and required documents to the Michigan state board. Please refer to the official website for more details.
Let’s view the applicable fees.
Particulars | Fees |
Application Processing Fees | |
Firm or Individual | $100 |
Individual Reciprocity | $100 |
Temporary Permit | $100 |
Annual License Fees | |
Firm | $100 |
Individual | $100 |
Other Fees | |
Verification of License | $15 |
Education Requirements
CPA aspirants must hold at least a bachelor’s degree from an authorized college or university with an accounting major. It involves earning a minimum of 150 semester hours along with:
- 3 semester hours in auditing
- 24 semester hours in general business subjects (except accounting) like:
- Business communications
- Business ethics
- Economics
- Business law
- Management
- Finance
- Information systems or technology
- Marketing
- Statistics
- Quantitative methods
- Other state board-approved subjects
- 21 semester hours in accounting principles covering the following areas:
- Managerial accounting, including cost accounting
- Financial accounting & accounting theory
- Taxation
- Accounting systems & controls
- Governmental/fund accounting
In the case of two duplicative courses, the first course hours are counted toward the semester-hour requirement.
Exam Requirements
Michigan CPA licensure applicants must score a minimum of 75 points in each of the four CPA exam sections. They have a rolling 18-month period to receive the passing grades. Kindly visit the Michigan Exam Requirements section for further information.
Experience Requirements
Candidates must obtain at least 2000 hours of relevant work experience within 1-5 years before applying for the license. The work experience has to be verified by an active CPA to be acceptable. The qualifying employment fields include government, industry, public practice, or academia.
Experience gained during a college or university internship is acceptable, including the internships count toward the educational requirement. In addition, applicants with a minimum of four semester hours of an academic appointment in accounting at a state-board-recognized institute may include instruction as qualifying experience.
Continuing Professional Education (CPE)
Michigan requires CPAs to renew their license every two years after earning 80 CPE credit hours. CPE keeps them updated about the current changes in the CPA profession. They must complete the required hours from state-board-approved CPE sponsors. The Michigan board accepts credits from programs provided by NASBA's National Registry Sponsors.
Check out all the details here.
Particulars | Details | |
License Renewal Date | July 31 (Biennially) | |
CPE Reporting Period | July 1-June 30 (Biennially) | |
Renewal Fee | $200 | |
Paid by Visa, Mastercard, Discover, American Express credit or debit card, or E-check | ||
Total CPE hours required | 80 hours (minimum 40 hours annually) | |
Ethics Requirement | 4 hours (minimum 2 hours annually) | |
1 hour of Michigan Statutes & Administrative Rules applicable to Public Accountancy | ||
Other Requirements | Accounting & Auditing | 8 hours annually |
Credit Calculation | Instruction | Credit = Presentation + Preparation (Repeat instruction within the same year does not qualify for credit) |
University/College | Credit Courses | 1 semester hour = 15 CPE hours |
1 quarter hour = 10 CPE hours | ||
Non-credit Courses | 1 classroom hour = 1 qualifying hour | |
Credit Limitations | Blended Learning | Acceptable if the credit amount is within the current rounding rules |
Instruction | Maximum 50% (20 hours) annually | |
Self-Study | Maximum 50% (20 hours) annually | |
Other State Policies | Carryover | Maximum 40 hours gained beyond the annual 40-hour requirement |
Accounting & Auditing | Maximum 8 hours | |
Ethics Maximum | 2 hours per year | |
Exemption | The Licensee’s principal place of business has CPE requirements | Meet state-specific CPE requirements |
The Licensee’s principal place of business does not have CPE requirements | Meet Michigan CPE requirements |
Michigan is a state with high employment prospects for CPAs. It offers them a yearly average base pay of $58,789. From large corporations to small start-ups, all hunt for qualified CPAs to boost their market presence.
The state’s awe-inspiring economic growth is a motivation for CPA aspirants. So, don’t wait anymore! Start prepping up for the Michigan CPA licensure as soon as you graduate. Take some valuable insights from former CPAs. Also, ensure to browse through the Michigan board website for updates on the CPA exam and license requirements. Learn more about CPEs for CPA.
Michigan Exam Information & Resources
1. Michigan Department of Licensing & Regulatory Affairs (https://www.michigan.gov/lara/)
Mailing Address
Ottawa Building
611 W. Ottawa
P.O Box 30004
Lansing, MI 48909
Phone: 517-335-9700
2. Michigan Association of CPAs (https://www.micpa.org/)
888 West Big Beaver Rd.
Suite 550
Troy, MI 48084
Phone: 248.267.3700
4. NASBA (https://nasba.org/)
150 Fourth Ave. North
Suite 700
Nashville, TN 37219-2417
Phone: 615-880-4200
Fax: 615-880-4290
CPAES
1.800.CPA.EXAM
International: 615-880-4250
cpaexam@nasba.org
5. AICPA (https://www.aicpa.org/)
220 Leigh Farm Road
Durham, NC 27707-8110
Phone: +1.919.402.4500
Fax: +1.919.402.4505
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