Alaska CPA Ethics Exam Requirements 2024

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Alaska CPA Ethics Exam Requirements

To meet the Alaska CPA ethics exam requirements and become a CPA, candidates will have to comply by taking the Professional Ethics: The AICPA’s Comprehensive Course (For Licensure), published by the American Institute of Certified Public Accountants (AICPA) which is a self-study ethics course and examination. Candidates must pass with a score of 90 percent or higher to qualify towards earning a CPA license. However, the AICPA exam will be waived for candidates who can present documentation of passing an exam deemed equivalent by the board.

This article will help you to become a CPA in Alaska and is a requirement after you have passed the Alaska CPA exam.

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Summary of Alaska CPA Requirements

Credit hours to sit for the CPA exam	120
Option 1: Degree and Accounting Concentration
Bachelor’s required to sit for the CPA exam	Yes
Credit hours in Accounting to sit for the CPA exam	24
Credit hours in Business Law to sit for the CPA exam	3
Credit hours in Economics to sit for the CPA exam	3
Credit hours in college-level Math, Statistics and/or Computer Science to sit for the CPA exam	3
Option 2: Degree and Accounting
Bachelor’s required to sit for the CPA exam	Yes
Credit hours in accounting subjects to sit for the CPA exam	15
Option 3: Degree In-Progress and Accounting
Credit hours left of completing a bachelor’s degree to sit for the CPA exam	18
Credit hours in accounting subjects to sit for the CPA exam	15
Option 4: Degree and Qualifying Experience
Bachelor’s required to sit for the CPA exam	Yes
Public accounting experience to sit for the CPA exam	1 Year
Total credit hours to receive a CPA license	150
Work experience required to receive a CPA license	2 Years
Ethics exam required to get a CPA license	Yes

Alaska Education Requirements

The Alaska CPA education requirements include that candidates must complete 150 semester hours of education to be eligible for a CPA license. A bachelor’s degree specializing in accounting is required as part of the education.

Option 1: Degree and Accounting Concentration that includes

24 semester hours of accounting subjects such as:
- Intermediate accounting
- Accounting principles
- Cost accounting
- Income tax
- Advanced accounting
- Auditing
- Governmental accounting
- Accounting theory
- Fraud detection
- Mathematics
- Statistics
- Computer science
Three Semester Hours in Business Law
Three Semester Hours in Economics
Three Semester Hours in either math, statistics, or computer science

Option 2: You can also earn a degree that includes 15 hours of Accounting coursework.

Option 3: If you don’t yet have your degree but wish to start the process of becoming a CPA, make sure you meet the following requirements:

Be within 18 semester hours of a bachelor’s degree.
Have completed 15 hours of accounting coursework.

Option 4: If you have a degree but did not concentrate on accounting while in school, you may still take the exam in Alaska if you meet these conditions:

Have a bachelor’s degree in another subject.
Less than 15 hours in accounting coursework.
One year of experience under the direct tutelage of a CPA.

To establish your educational level, you must present official transcripts from all universities. If you are applying under the accounting concentration provision, inform your schools or universities that this must be noted on your transcripts. All you need is a copy of your transcript if you attended the University of Alaska and graduated with a major in accounting.

Foreign Education

If you study outside of Alaska, you must have your academic credits evaluated by a member of the National Association of Credential Evaluation Services, Inc., the National Association of State Boards of Accountancy International Evaluation Services, or the University of Alaska. To obtain a review of your credits, contact the international credential evaluation agency directly.

Accepted Educational Institutions

The Alaska State Board of Public Accountancy recognizes all accounting programs and applicable credits completed via colleges and universities in the United States that have essential institutional accreditation from one of the Department of Education’s six regional accreditors:

Pass the Uniform CPA Examination

The “Uniform CPA Examination”, which is a 4-part exam, is developed by the AICPA – the American Institute of Certified Public Accountants and administered by NASBA – the National Association of State Boards of Accountancy.

The Three Core Exam Sections

Auditing and Attestation (AUD)

The Auditing and Attestation (AUD) section of the Uniform CPA Examination (the Exam) tests the essential knowledge and skills a newly licensed CPA must demonstrate when performing audit engagements, attestation engagements or accounting and review service engagements.

Newly licensed CPAs are required to:

Demonstrate knowledge and skills related to professional responsibilities, including ethics, independence, and professional skepticism. Professional skepticism reflects an iterative process that includes a questioning mind and a critical assessment of audit evidence.
Understand the entity including its operations, information systems (including the use of third-party systems), and its underlying business processes, risks, and related internal controls.
Understand the flow of transactions and underlying data through a business process and its related information systems.

Financial Accounting and Reporting (FAR)

The Financial Accounting and Reporting (FAR) section of the Uniform CPA Examination (the Exam) assesses the knowledge and skills that a newly licensed CPA must demonstrate in the financial accounting and reporting frameworks used by business entities (public and nonpublic), not-for-profit entities and state and local government entities.

The financial accounting and reporting frameworks that are eligible for assessment within the FAR section of the Exam include the standards and regulations issued by the:

Financial Accounting Standards Board (FASB)
U.S. Securities and Exchange Commission (U.S. SEC)
American Institute of Certified Public Accountants (AICPA)
Governmental Accounting Standards Board (GASB)

Regulation (REG)

The Regulation (REG) section of the Uniform CPA Examination (the Exam) tests the knowledge and skills that a newly licensed CPA must demonstrate with respect to:

U.S. federal taxation
U.S. ethics and professional responsibilities related to tax practice
U.S. business law

The Three Disciplines

The three new disciplines in the 2024 CPA Exam, part of the CPA Evolution initiative, are designed to allow candidates to specialize in areas that align with their career interests and the demands of the modern business environment. Here’s a more detailed look at each discipline:

Business Analysis and Reporting (BAR)

Objective: This discipline focuses on higher-order skills needed in financial statement analysis, business reporting, and the strategic role of the CPA in business decision-making.

Key Topics:

Financial Statement Analysis: Understanding and interpreting financial statements to assess an entity’s financial health and performance.
Performance Management: Developing and using key performance indicators (KPIs) to measure, manage, and improve business performance.
Data Analytics and Visualization: Utilizing data analytics tools to analyze business data, and effectively presenting data to support business decisions.
Strategic Planning and Risk Management: Involvement in the strategic planning process and identifying, assessing, and managing business risks.
Business Processes and Controls: Understanding and evaluating business processes and internal controls to improve efficiency and effectiveness.

Information Systems and Controls (ISC)

Objective: This discipline is tailored for those interested in information technology, data security, and controls. It addresses the increasing role of technology in accounting and auditing.

Key Topics:

IT Governance and Risk: Understanding the frameworks for managing and governing enterprise IT; identifying and managing IT-related risks.
Information Security and Cybersecurity: Knowledge of cybersecurity principles, data protection laws, and the steps necessary to protect information assets.
System and Organization Controls (SOC) Reporting: Understanding the requirements for SOC reports and the role of CPAs in assessing controls at a service organization.
Data Management and Privacy: Managing data effectively and understanding privacy regulations.
Business Continuity and Disaster Recovery: Planning and strategies to ensure business operations can continue and recover from disruptive events.

Tax Compliance and Planning (TCP)

Objective: This discipline focuses on tax compliance, tax planning, and tax strategy, suitable for those who aim to specialize in taxation.

Key Topics:

Individual Tax Planning and Compliance: Understanding tax laws affecting individual taxpayers, including income, deductions, credits, and tax planning strategies.
Business Tax Planning and Compliance: Knowledge of tax considerations for different business entities, including corporations, partnerships, and S-corporations.
Estate, Gift, and Trust Taxation: Understanding the tax implications and planning strategies for estates, gifts, and trusts.
International Taxation: Knowledge of taxation issues related to cross-border transactions and multinational enterprises.
State and Local Taxation (SALT): Understanding the complexities of state and local tax laws and their impact on business and individual tax planning.

Tips for Passing the CPA Exam

The CPA exam covers so many topics that you will need to study specifically for each section, usually for 6-8 weeks per section. Even a master’s degree in accounting doesn’t adequately prepare you to just walk in and pass the 4 CPA exams.

You will need a full review course such as Becker, Wiley CPA, Gleim, Roger, etc, and you will need to dedicate several hours a day over the course of months to even have a chance at getting passing scores.

Alaska CPA Exam Cost Breakdown

The Alaska CPA exam cost consists of 4 critical fees. The initial education evaluation application fee of $115, the $357.80 per CPA exam section totaling $1,431.20 for all four sections, the $200 nonrefundable registration fee for your CPA license and the $300 CPA license certificate fee.

Education Evaluation Application Fee	$115.00
Auditing and Attestation (AUD)	$357.80
Financial Accounting and Reporting (FAR)	$357.80
Regulation (REG)	$357.80
Disciplines (ISC, TCP, or BAR)	$357.80
Total for all 4 CPA Exam Sections	$1,431.20
Nonrefundable Registration Fee	$200.00
Certificate Fee	$300.00

Alaska CPA Experience Requirements

To meet the Alaska CPA experience requirements, candidates will require 24 months or 4,000 hours of professional accounting. Work includes any type of service earned in academia, government, industry, or public practice, accounting, compilation, consulting skills, financial advisory, management advisory, tax, and related services.

Work experience must include providing any type of service or advice involving the use of accounting, attest, compilation, management advisory, financial advisory, tax, or consulting skills and related training all of which were verified by a supervising certified public accountant with an active license at the time of supervision.

The experience is acceptable if it is gained through employment in government, industry, academia, or public practice. Experience does not include paid or unpaid leave or holidays