Iowa Accounting Requirements

Candidates must:

• Be of good moral character and reputation;

• Candidates will be deemed to have met the educational requirement if, they have met one of the following four conditions.

a. Earned a graduate degree with a concentration in accounting from a regionally accredited institution.

b. Earned a graduate degree in business from a regionally accredited institution and completed at least 24 semester hours in accounting. The following accounting subjects must be covered: financial accounting, auditing, taxation, and management (cost) accounting. The remainder of the 24 semester hours can cover any accounting subject. The following courses can not be included in the 24 semester hours of accounting: introductory accounting, principles of accounting, elementary accounting, internships or business law.

c. Earned a baccalaureate degree in business or accounting from a regionally accredited institution and completed at least 24 semester hours in accounting. The following accounting subjects must be covered: financial accounting, auditing, taxation, and management (cost) accounting. The remainder of the 24 semester hours can cover any accounting subject. The following courses can not be included in the 24 semester hours of accounting: introductory accounting, principles of accounting, elementary accounting, internships or business law.

d. Earned a baccalaureate or higher degree (in a subject other than accounting or business) and completed the following hours from a regionally accredited institution:

(1) At least 24 semester hours in accounting. The following accounting subjects must be covered: financial accounting, auditing, taxation, and management (cost) accounting. The remainder of the 24 semester hours can cover any accounting subject. The following courses can not be included in the 24 semester hours of accounting: introductory accounting, principles of accounting, elementary accounting, internships or business law.

(2) At least 24 additional semester hours in business-related courses, not including internship or life experience. General business includes subjects in finance, management, marketing, economics, and business law.

Quarter hours will be accepted in lieu of semester hours at a 3:2 ration; that is, three quarter hours are equivalent to two semester hours (Quarter hours divided by 1.5 equals semester hours.)

Any college level credit earned from any regionally accredited institution can be counted toward the educational requirements, including: on-line courses, correspondence courses, pass/fail courses and CLEP or advanced placement credits. Developmental and remedial courses are NOT college level and can not be counted.

Graduates of foreign colleges or universities shall have their education evaluated by Foreign Academic Credentials Service, Inc., P.O. Box 400, Glen Carbon, IL 62034, (618) 656-5291

NOTE: Candidates are not required to have 150 semester hours in order to sit for the examination. Candidates will not be issued a license until the 150 semester hours of education have been completed.

Beginning July 1, 2002, Certificates will not be issued until candidates have completed one year of qualifying experience in addition to the applicable educational requirements (i.e. 150 hours).

For more information, click here to visit the Iowa State Board of Accountancy.

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