Introduction
Continuing education is important for all CPAs as it provides them skills and the latest information about the industry. Hence, every CPA is required to meet their CPA CPD requirements for license renewal.
There are numerous platforms offering CPD courses. But, just because CPD is necessary for CPAs, all these platforms offer courses at high rates. So, how are you going to plan your CPA CPD without spending a lot of money?
In this blog, we will answer all the questions that might hit your brain for a successful career at minimum financial expenses.
How Can Accountants Become Certified Public Accountants (CPA)?
If you are an accountant and want to become a certified CPA, you must be qualified with a bachelor's degree. With this, a minimum of 30 months of full-time experience is needed in the relevant accounting industry. Below are the steps to become a CPA in Canada:
Step 1: Earn a Bachelor's Degree
Step 2: Consider Graduate School
Step 3: Pass the CPA Examination
Step 4: Obtain Your License
Step 5: Renew and Maintain Licensure
After becoming a CPA, you need to renew your license to maintain your Licensure. And for that, you need to earn a specific number of CPD credits as per your state board requirements.
To know the CPA Canada CPD requirement, CPA Alberta CPD requirement, or CPA CPD requirement of other Canadian provinces, Click here!
6 Effective Ways CPAs Can Earn CPD for continuing Education
1. Professional Association Memberships:
Joining professional accounting associations often provides access to a wide range of CPD resources at minimal costs. These associations frequently offer discounted or even free CPD events, seminars, and workshops for their members.
So, if you want to earn your CPD credits without spending a lot of money, then memberships with professional associations for CPD is the best solution.
2. Self-Study Materials:
When it comes to self-study course materials, you can't just deny the advancing features of self-study courses. These materials are often more cost-effective than attending formal training programs and provide flexibility in terms of learning pace.
You can also attend free CPA courses to earn CPD credits. There are a few platforms offering free CPD courses in self-study format like, MYCPE ONE, CPDcourses, Coursera, etc.
3. In-House Training:
In-house training sessions can be tailored to address specific skill gaps or industry updates, offering CPD opportunities at little to no cost.Every company or organisation wants expert employees, hence these organisations prefer providing in-house training to their employees.
Attending in-house training for CPD credits is always the most preferable mode, because you are getting a chance to earn credits at your organisation while working.
4. Networking and Peer Learning:
Engaging in professional networking activities and forming study groups with peers can create opportunities for knowledge sharing and CPD. Accountants can discuss industry trends, share experiences, and learn from each other, all without incurring additional expenses.
These networking events are also available for free at some platforms like, CPDcourses, Freecoursesonline, Accounting CPD, etc.
5.Online Learning Platforms:
Utilizing online learning platforms that offer a wide range of courses in accounting and finance can be a cost-effective way to earn CPD credits. These platforms often have subscription-based models, allowing accountants to access multiple courses for a reasonable fee.
6. Industry News and Publications:
Staying updated with industry news, publications, and journals can contribute to CPD. Accountants can subscribe to relevant publications or access online resources that provide insights into regulatory changes, emerging trends, and best practices.
If you are still confused about how and where to earn CPD credits, No worries!
At CPD Course Review, you can compare various CPD providers on different parameters, including the number of courses, approvals of governing bodies, cost of courses, offers available, and many more.
FAQs:
What is verifiable CPD hours CPA?
Verifiable CPD hours for CPA (Certified Public Accountant) refer to the continuing professional development hours that are recognized and approved by the CPA governing bodies. CPD hours are a requirement for CPAs to maintain their professional competence throughout their careers.
How many CPD hours do I need for CPA?
For CPAs in Canada, 120 hours of CPD credits are required. In this, 60 hours of CPD must be verifiable. Along with this, you need to take care that a minimum of 20 hours must be completed each year, which must have 10 hours of verifiable CPD each year.
How many CPD hours do I need for CPA Ontario?
CPA CPD requirements Ontario - Each triennial period must include 120 hours, of which at least 60 must be verifiable. The minimum CPD requirement for members is 20 hours a year, of which at least 10 must be verifiable.
Are there any free CPD resources available to accountants?
Yes, there are several free CPD resources available to accountants. Professional accounting associations often provide complimentary webinars, articles, and online courses for their members. Additionally, websites and online platforms offer free accounting webinars and educational materials that can contribute to CPD requirements