2015 Colorado Licensure Changes: Check The Facts

If you plan on sitting for the CPA Exam in Colorado, you need to be aware of the Licensure changes coming July 1, 2015. As of this month, you have less than one year left to meet the 150 rule, which requires 150 semester hours for licensure. There is still plenty of time to meet the current requirements, but there are a few things to keep in mind. 

First of all, don’t forget the blackout months. June is a blackout month, which means you will need to have all four parts of the CPA Exam passed by May 2015. Secondly, there will be a flood of candidates sending in their licensure applications months before the deadline. We recently visited the Colorado Society of CPAs (COCPA) and talked to Susan Vachereau, the Member Services Director. She informed us that students should send in licensure applications early (January-February 2015) because as the deadline gets closer, the wait time to receive approval for your license is longer. 

For your convenience, we have provided two charts below to explain the changes before the July 1, 2015 deadline and the changes on or after July 1^st.  BEFORE JULY 1, 2015

		Courses Above the Introductory Level	Total Hours
	Degree	Accounting	Business	Accounting	Business
For Examination	Baccalaureate Degree or 120 Semester Hours	21 Semester Hours	12 Semester Hours	27 Semester Hours	21 Semester Hours
For Licensure	1 year of work experience (1,800 hours) OR education in lieu of experience (BA + 30 semester hours of non-duplicative study which includes a total of 45 semester hours in accounting subjects

 Requirements ON and AFTER July 1, 2015*

		Courses Above the Introductory Level	Total Hours
	Degree	Accounting	Business	Accounting	Business
For Examination	Baccalaureate Degree or 120 Semester Hours	21 Semester Hours	12 Semester Hours	27 Semester Hours	21 Semester Hours
For Licensure*	Baccalaureate Degree +30 Semester Hours	27 Semester Hours	18 Semester Hours	33 Semester Hours	27 Semester Hours

Source: (Colorado State Board of Accountancy)

 In addition to the 150 rule, Colorado residents will not be able to use additional classroom hours/credits in lieu of work experience on or after July 1, 2015. Not only will you have to complete the additional 30 semester hours, you will also need to have 1 year (minimum of 1,800 hours) of work experience. For those of you who want to complete the current requirements before the changes, dont worry- weve got your back! 

The first thing you need is a solid game plan. We have a 3, 6, or 9 month Study Planner to ensure that you will complete the CPA Exam before the deadline. Be sure to stick to your study plan! If you watch the video lectures, complete the homework problems, and practice with our Interactive Practice Questions, YOU WILL PASS! 

To keep you informed of the Colorado Licensure changes, we will be hosting a live Facebook chat in the coming future. This will be your chance to ask us any questions you have regarding the Licensure changes. Stay tuned for the details! 

Last but not least, were giving all our Colorado students a discount to help them achieve their CPA goals before the deadline! Use the code CO2015 at checkout for $200 off our Flagship Course. Offer valid through Friday, July 11th.