Accounting Degrees in Michigan

Educational Requirements

In Michigan, becoming a CPA involves gaining licensure through the Department of Licensing and Regulatory Affairs. Educational requirements include a minimum of a completed bachelor’s degree. Prospective CPAs should complete 150 semester hours of college-level coursework, including a major or concentration in accounting. Thirty semester hours must be in the accounting concentration, and 39 additional semester hours should be taken according to the requirements laid out by Michigan’s accountancy board. Transcripts must be available for review upon sitting for the CPA exam.

Salary

Accountants working in Michigan will enjoy average annual salaries that are higher than the national average for the field. According to the Bureau of Labor Statistics, the average annual salary in 2011 was $67,990. The bottom 10% of earners in Michigan had an annual salary of approximately $39,000, while the top 10% make more than $105,000. The Detroit metropolitan area features some of the highest salaries in the state, with $74,220 as the 2011 average for the region. Less densely populated areas see lower average salaries, but compensation for accountants is competitive throughout the state.

CPA Licensing in Michigan

Becoming a CPA in Michigan will require “The Three E’s:” Education, the Exam, and Experience. Prospective Michigan CPAs must take care to complete all requirements put forth by the Department of Licensing and Regulatory Affairs. Official requirements for CPA licensure can be found here. These requirements include:

• Be of good moral character.
• Fulfill at least the minimum education requirement of a bachelor’s degree, with 150 semester hours of courses completed. A concentration in accounting is required, with 30 hours of accounting courses necessary for licensure, as well as 39 hours of other general business courses. Specific education requirements can be found here.
• Remit payment for all applicable application and testing fees. A schedule of fees can be found here.
• Provide transcripts for review upon sitting for the Uniform CPA Exam.
• Pass the Uniform CPA Exam.
• Meet the experience requirement for Michigan CPAs. This includes 2,000 hours and one year of work in public accountancy, a government entity, or other accepted accounting work, and will require verification. Official experience requirements can be found here.

Continuing Education Requirements

CPAs in Michigan must renew their licenses every two years to continue practicing. In order to do this, 40 hours of continuing professional education must be completed annually. Continuing education credits are reported biennially. Official requirements for continuing education can be found here. The Michigan Association of Certified Public Accountants offers information and options for continuing education courses. Eight of the 40 hours must be auditing or accounting courses, and two of the total hours per year must be ethics courses.

Accounting Jobs in Michigan

As a licensed CPA in Michigan, there are many different types of job opportunities available to you. While a job is never guaranteed, accounting positions in Michigan reached more than 28,000 in 2011, according to the Bureau of Labor Statistics. With Detroit and other large urban centers in the state, financial services should enjoy reasonable job growth and occupational demand. Licensed CPAs have an advantage over non-licensed accountants, and will have an easy competitive advantage. The automotive and entertainment industries also require business operators such as accountants to promote Michigan’s industries and continued economic health. The Michigan Association of Certified Public Accountants keeps its members up to date on developments in the field, relevant career events, and job postings.