Accounting Degrees in Kentucky

Educational Requirements

Becoming a CPA in Kentucky involves fulfilling the educational requirement, passing the Uniform CPA Exam, and having one year of verified experience. A bachelor’s degree is the minimum requirement in Kentucky to sit for the Uniform CPA Exam, with 150 semester hours of coursework completed from an accredited, Board certified college or university. Additionally, 39 semester hours must include business-related courses, with 27 of these specifically in the field of accounting. A complete listing of educational requirements can be found at the Kentucky Board of Accountancy’s website. Transcripts will be required for review upon taking the Uniform CPA Exam.

Salary

Certified public accountants (CPAs) in Kentucky can enjoy a salary that is competitive among similar industries in the state. The Bureau of Labor Statistics states that the average annual salary for accountants in Kentucky in 2011 was $57,130. The top 10% of earners in the state made approximately $87,160 annually, while the lowest 10% earned $33,640. Densely populated regions of the state, such as the Louisville metropolitan area, were found to have a higher average annual salary than more sparsely populated areas. The Bureau of Labor Statistics found that 2011 average annual salaries for accountants in the Louisville area was $60,000, which is somewhat higher than the state’s average accountancy salary.

CPA Licensing in Kentucky

Similar to many other states, becoming a licensed CPA in Kentucky involves satisfying three essential requirements: education, experience, and passing the exam. If you are licensed in another state, you may be eligible to practice accountancy as a CPA in Kentucky. Specific requirements for out of state licensure can be found here. Reciprocal licensing is also available in substantially equivalent states. Prospective CPAs in Kentucky must fulfill the following specific requirements to qualify for licensure in the state:

• A bachelor’s degree or higher from a Board-approved college or university, with 150 semester hours of undergraduate coursework or higher completed.
• Satisfactory completion of Kentucky’s Experience Requirement. This includes a notarized verification from a current CPA of at least one year of accounting experience. Specific requirements can be found here and here.
• Provide transcripts at the time of Uniform CPA Exam.
• Pass the four-part Uniform CPA Examination.
• Must be of good moral character, and no less than 18 years of age.
• To remain active, CPAs in Kentucky must renew their licensure every two years, and complete 80 hours of continuing professional education, including ethics training. A renewal fee will be charged biennially.

Continuing Education Requirements

Certified public accountants in Kentucky must renew their license to practice every two years. During stated reporting periods, practitioners must complete 80 hours of continuing professional education. Two hours of these must be in the field of ethics. Those employed in education, industry, or government accounting jobs during the reporting period should be eligible for licensure renewal after 60 hours of continuing professional education. For specific information on renewal requirements and fees, please visit the Kentucky Board of Accountancy.

Accounting Jobs in Kentucky

All businesses and industries will require accountancy to maintain business functions. Tobacco and alcohol manufacturing and distribution, two major industries in Kentucky, often employ in-house accountants or large accounting firms to handle business and reporting operations. The Kentucky Society of Certified Public Accountants keeps state practitioners informed of new guidelines, job postings, and events for accountants in the state.