New Jersey CPA Experience Requirements [2022]

New Jersey CPA Experience Requirements

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To meet the New Jersey CPA experience requirements and become a CPA, candidates require to work full-time for one year based on a minimum of 1,750 hours per year. Part-time experience shall be considered equivalent if acquired within two consecutive years and in no less than the same amount of hours required for full-time experience. The experience shall be considered intensive and diversified if the experience is acquired in the areas of auditing or accounting.

Summary of New Jersey CPA Requirements

Credit Hours to Sit for CPA Exams120
Bachelor’s Degree Required to sit for CPA ExamsYes
Accounting Major required?No
Accounting Credits Required to Sit for CPA Exams24
Business Credits Required to Sit for CPA Exams24
Credit Hours to receive CPA License150
Technical Subject Credits Required for License*60
Master’s Degree Required to Get CPA LicenseNo
Work Experience Required to Get CPA License1 Year
Ethics Exam Required to Get CPA LicenseYes
Required CPE Hours Every Three Years for License Renewal120

*The technical subjects include:

  • Accounting
  • Auditing
  • Business law
  • Information technology
  • Economics
  • Finance
  • Management advisory services
  • Mathematics
  • Statistics
  • SEC practice
  • Taxation
  • Professional ethics
  • Specialized areas such as governmental, nonprofits, real estate, or farming

Education Requirements

For an applicant to be eligible to sit for the CPA Exam must meet the following requirements:

  • Completed a baccalaureate(bachelor’s) degree from a regionally accredited institution
  • Completed at least 120 semester hours of general college-level credit
  • Completed at least 24 semester hours in accounting courses
  • Completed at least 24 semester hours in general business courses

Candidates eligible for the exam prior to July 1, 2017, will be permitted to continue testing but are required to meet the new education requirements to qualify for a license.

Once you successfully pass all four sections of the CPA Examination and you did NOT meet the 150 semester hour requirements for CPA licensure at the time you were originally found eligible to take the CPA Exam, you must submit an additional Academic Credential Evaluation (ACE) Application through NASBA Licensing Services before you will be permitted to apply for the CPA license.

If you met the 150 hours requirement, you might directly apply through the New Jersey State Board of Accountancy upon successful completion of the CPA Examination.

CPA License Educational Requirements

To be eligible to apply for licensure, an applicant must meet the following requirements:

  • Bachelor’s degree or higher from a regionally accredited institution.
  • At least 150 semester hours of general college-level credit.
  • At least 24 semester hours in general business courses.
  • At least 24 semester hours in accounting courses.

If you completed a bachelor’s degree or higher prior to July 1, 2000, you might still qualify to take the CPA exam based on the following:

  • Completed 60 semester hours in liberal arts subjects (English, History, Foreign Languages, Mathematics, General Psychology, Philosophy, Biological Sciences, Physical Sciences, Economics, Sociology, Religion, Government, Political Science, Geography, Fine Arts, and Music)
  • Completed a minimum of 60 semester hours in professional courses, including:
    • 24 semester hours in accounting, including municipal and government accounting courses
    • Six semester hours in business law
    • Six semester hours in financial accounting
    • Six semester hours in economics
    • At least 18 semester hours in general business courses

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 Four CPA Exam Sections are:

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.

Business Environment and Concepts (BEC)

The Business Environment and Concepts (BEC) section of the Uniform CPA Examination (the Exam) tests knowledge and skills that a newly licensed CPA must demonstrate when performing:

  • Audit, attest, accounting and review services
  • Financial reporting
  • Tax preparation
  • Other professional services

The content areas tested under the BEC section of the Exam encompass five diverse subject areas. These content areas are enterprise risk management, internal controls and business processes, economics, financial management, information technology and operations management.

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

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.

How to Save Yourself MONTHS of Time and Frustration
Keep in mind that the CPA exam is the one part of getting your CPA license that you can control how long it takes. The education and experience requirements take as long as they take, but the CPA exams can take you as little as 6 months, or as long as multiple years… depending on how effective your study process is from the beginning.
Learn how to study strategically so you can save yourself tons of time and retake fees with this free training…

Ethics Exam

Once you have passed and completed all four sections of the exam, you can then move on to take New Jersey Law, Code, and Ethics exam. This exam is unique to New Jersey and is different from the AICPA Ethics exam that is required by many other states.

New Jersey requires that you take a four-hour New Jersey Law & Ethics course provided by an approved sponsor. This course can now be taken six months before you obtain your CPA license or six months after. Just remember that you must send in the course confirmation to the New Jersey State Board of Accountancy within one month of taking the course. The NJCPA is an approved sponsor. For a listing of upcoming NJCPA Law & Ethic courses, click here.

Exam Fees

If you’re a first-time applicant, you are required to pay both an application fee and an examination fee upon submission of the first-time application. Candidates for re-examination are required to pay both an application fee and an examination fee at the time of registration.

Application Fee$160
Registration Fee$80
Auditing and Attestation (AUD)$226.15
Business Environment and Concepts (BEC)$226.15
Financial Accounting and Reporting (FAR)$226.15
Regulation (REG)$226.15

How to Save Yourself MONTHS of Time and Frustration
Keep in mind that the CPA exam is the one part of getting your CPA license that you can control how long it takes. The education and experience requirements take as long as they take, but the CPA exams can take you as little as 6 months, or as long as multiple years… depending on how effective your study process is from the beginning.
Learn how to study strategically so you can save yourself tons of time and retake fees with this free training…

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