Five Effective Tips for Satisfying Your CPD Requirements
As a CPA, you know the importance of maintaining professional competency by taking continuing professional education (CPE). Tax laws and regulations are always changing, and you have to keep up. Moreover, you probably know too that when you boost your professional expertise, you are also increasing your value both to your clients specifically and to the industry in general. Then again, you know that CPE is not all about career growth, of course. In fact, it is a requirement for you to renew your CPA license with your state board, and any industry certifications you may have.
The following are the five major steps to meeting your CPE requirements.
1. Start below.
First, you need to find out your state board of accountancy's particular CPA requirements for CPE. In each state will be different requirements in terms of recognized providers, delivery methods which qualify toward hours, and the manner in which these hours are spread out among financial accounting, ethics, auditing, etc. Therefore, avoid publications or resources which only give you generic information regarding CPE requirements. Most likely, you will have to complete 120 CPE hours within three years, 80 hours over two years, or 40 hours yearly, depending on what term of renewal applies in your state. To understand more about tax, check out http://www.mahalo.com/how-to-file-for-a-tax-extension.
2. Look into your long-term professional objectives.
CPE is a great opportunity for you to gain specialist knowledge and be a standout, not only in the company you work for, but in the field in general.
Even when you can handle your CPE requirements in a lot of ways, online or offline, acquiring certification in an accounting specialty typically enables you to satisfy CPE requirements and requirements for CGFM(R), CMA or CFP(R), among several other certifications.
3. Pick the right provider.
When looking for local programs and courses, your state CPA society can offer vital information. Professional organizations in http://taxspeaker.com/events/3494-accountants-reports-letters can be a good source of details regarding the requirements that your board of accountancy implements. That means you should find an approved provider and know the exact number of hours required by the board in your area.
4. Keep a paper trail.
As you finish your continuing education, keep a detailed record of your CPE activity, in case your state board of accountancy needs it. In many states, that is not necessary, but you will still have to go through random audits. As a CPA, you probably always stress to your clients the importance of keep records. This is one of those instances when you must practice that advice yourself.
5. Be consistent.
To avoid scrambling before you license renewal, be consistent and finish your CPE regularly. Finally, also remember that in most states, CPA's have to finish a minimum number of CPE credits every year. Please check out http://taxspeaker.com/topics/2-taxes if you have questions.