Whether your a CPA, CPA candidate, or college undergrad you may have heard of the AICPA. The AICPA, or American Institute of Certified Public Accountants, is the national organizations for CPAs. Membership in the AICPA is not mandatory for CPAs, but is very beneficial.
Membership Categories
Not everyone can be a member of the AICPA. There are seven AICPA membership categories. Other than regular AICPA membership for licensed CPAs, there are also AICPA membership categories for those who have passed the CPA exam but aren’t licensed (Associate), students, international affiliates, non-CPA accounting educators, CPA candidates, and non-CPA associates (those who are employed by CPA firms, but aren’t CPAs).
The annual dues that you owe to the AICPA depend on your role, industry, or work status. If you are a student member, your dues will be a lot lower than a partner in a CPA firm. Dues are subject to change at any time, so if you are interested in AICPA membership I encourage you to visit the AICPA website.
Why I Think AICPA Membership is Important for Any CPA
I think that AICPA membership is very important for CPAs. Even though I am not currently a practicing CPA (meaning I am not employed in public accounting) I am an AICPA member. AICPA membership is great for three reasons. First, you AICPA members get great term life insurance rates and other money saving benefits. Second, you are part of a large network of professionals. Should you become unemployed or desire a job change, you already belong to a network of professionals ready, willing, and able to help you. Finally, the AICPA has many CPE (Continuing Professional Education) avenues. If you are an AICPA member, the CPE solutions offered by the AICPA will be offered to you at a reduced cost.
Term Life and Other Money Saving Benefits Offered Through AICPA Membership
Members of the AICPA enjoy great term life insurance rates. Term rates for spousal life insurance are low as well. The best part of this AICPA membership benefit is that each year, the AICPA takes premiums received less death benefits paid and refunds the rest to AICPA members. Although the refunds are not guaranteed, they have been given each year since the eighties.
AICPA membership boasts more than just low term life insurance rates! AICPA members save money on things like Dell computers, Hertz rental cars, Whirlpool appliances, and Starwood hotels.
AICPA Membership Ensures You Are Part of a Community of Professionals
With skyrocketing unemployment, being part of a community of professionals is key to your financial future. People who can relate to each other because they are in a group of professionals sharing a common goal are more likely to help each other out. Showcasing your AICPA membership on your resume shows potential employers that you are committed to your career.
AICPA Membership Helps You with Your CPE
CPE is essential to any licensed CPA. In addition to your state’s CPE requirements, AICPA members must also meet certain CPE requirements. Through AICPA membership, there are plenty of CPE options. First of all, you can receive a certain amount of CPE each year just by reading the Journal of Accountancy and submitting quizzes. A subscription to the Journal of Accountancy is complimentary with many AICPA membership packages.
In addition to CPE via the Journal of Accountancy, an AICPA member can participate in live seminars, purchase CPE books, and also participate in online CPE opportunities. All of the CPE opportunites offered by the AICPA are reduced in price for AICPA members. Chances are, if you rely on the AICPA for all of your CPE, you will save more through reduced CPE prices than you paid for membership!
In conclusion, AICPA membership is very important for CPAs and accountants. It’s not only a community of professionals, it also helps you save money. If you are worried about the cost of dues, most employers will cover the cost of annual dues. If they don’t, chances are you will save more through utilizing the various AICPA membership benefits than you pay in dues.
