Introduction

One of the top Midwest states in terms of GDP, Indiana is home to seven Fortune 500 companies, and all the “Big Four” international accounting firms (Deloitte & Touche, KPMG, PricewaterhouseCoopers, and Ernst & Young) maintain offices around the state. Indiana’s complex state economy produces and trades in industries including steel, rubber, coal, pharmaceuticals, and automobiles, giving prospective financial service specialists many sectors to choose from. More than 20,000 accountants and auditors serve the state of Indiana, which is higher than the national average proportional to population, and that number is expected to grow steadily in the future. The Bureau of Labor Statistics projects a growth rate of 11% for accounting jobs from 2016 to 2026, higher than the national average.

Indiana at a glance

Population 6,666,818
Per Capita Income $25,140
Unemployment Rate 3.5%
Fortune 500 Companies 7
Licensed CPA Firms 855

Accounting Programs in Indiana

Search our comprehensive school directory to explore the accounting programs in Indiana, including campus-based, online and hybrid programs.

Accounting Salaries and Employment

Accountants and auditors in the state of Indiana can expect to see a 12% increase in employment opportunities by 2022, that’s compared to an average national growth rate of just over 13%. Potential employers include Blue & Co.† which grossed $61.51 million in 2014, and Kemper CPA Group which generated $35.48 million in revenue last year.

Indiana firms will employ close to 22,000 accountants within the next seven years. Hoosiers can expect to earn anywhere between $35,120 and $104,060 working in accounting services in the state — earning power is heavily contingent upon licensure, speciality and degree level.

Projected Job Growth for Accountants

20,190 Employees2012
24,120 Employees2022
Indiana 16.3% increase
1,397,700 Employees2012
1,537,600 Employees2022
United States 9.1% increase
Source: Bureau of Labor Statistics OES - State Employment Survey

Accounting Salaries by Specialty

Indiana Avg. Annual Wage United States Avg. Annual Wage

Associate Degree Recommended

Bookkeeping and Auditing Clerks

\ $37,320
$41,110

Payroll Clerks

\ $40,630
$44,950

Credit Counselors

\ $41,380
$49,460

Bachelor's Degree Recommended

Cost Estimators

\ $64,940
$68,420

Tax Examiners and Collectors

\ $53,060
$59,140

Master's Degree Recommended

Accountants and Auditors

\ $66,600
$77,920

Budget Analysts

\ $68,410
$77,170

Personal Financial Advisors

\ $107,000
$109,949

Financial Managers

\ $117,900
$143,530
Source: BLS OES - Industry Profile

Top-paying cities for accountants

  1. Indianapolis-Carmel-Anderson
    $71,710
  2. Elkhart-Goshen
    $69,060
  3. Bloomington
    $68,400
  4. Kokomo
    $67,490
  5. South Bend-Mishawaka
    $65,980
Source: Bureau of Labor Statistics OES - State Employment Survey

Major firms headquartered in Indiana

Count Firm Location 2014 Revenue (in millions)
1Blue & Co.Carmel, IN$70
2Katz, Sapper & MillerIndianapolis, IN$65
3Kemper CPA GroupEvansville, IN$40
4Somerset CPAsIndianapolis, IN$30

Accounting Today named these firms among the highest performing in a multi-state region. Rankings as based upon reported net revenues from 2014. Source: Accounting Today, "Top 100 Firms and Regional Leaders"

Becoming a certified public accountant (CPA) in Indiana

Potential CPAs of Indiana sit for the Uniform CPA Exam administered by NASBA and must meet the eligibility requirements listed below. A number of colleges and universities in the state have accounting programs with top passing rates. The rates below include both first time testers and candidates returning to attempt the exam again, as is common for many students.

Indiana offers an optional pre-evaluation service to help students determine if they meet the educational requirements before applying for the exam. Indiana recognizes CPA mobility legislation as well as obtaining a license by transfer.

Those who become certified and later wish to maintain their license without practicing may apply for an inactive renewal, which exempts them from the CPE requirements.

Eligibility for CPA Licensure in Indiana

To be eligible to sit for the NASBA Uniform CPA Exam in Indiana, candidates must meet the following requirements:

  • Have earned 150 semester hours of CPA Exam Services approved credit hours
  • Hold a baccalaureate degree
  • Have completed 24 credit hours of undergraduate accounting courses or 15 hours of graduate accounting courses
  • Be a minimum age of 18 years
  • Participate in 2 years of academia, government, industry or public practice experience
Age RequirementN/A
Citizenship RequirementNo
Residency RequirementNo
Social Security # RequirementYes
Education Requirement for LicensureBachelor's degree (150 hours)
Participates in International ProgramsYes
Hours in Accounting24 semester hours
Exam Sitting Requirements150 hours
Experience Requirements2 years of accounting experience
Ethics ExamN/A

Candidates ready to sit for the Uniform CPA Exam in Indiana should refer to this License Packet to ensure they have the proper paperwork and have fulfilled the necessary requirements to sit for the exam.

Source: The American Institute of CPAs

CPA exam fees in Indiana

Total:$982
  • Application Fee $150
  • Auditing & Attestation $208
  • Financial Accounting & Reporting $208
  • Regulation $208
  • Business Environment & Concepts $208

Special Fees: A registration fee applies in addition to the application fee, and varies depending on the number of sections an individual is taking. The registration fee for all four sections is $110, for three is $95, for two is $85 and for one section is $70.

Certifying and Professional Organizations

The Indiana Board of Accountancy’s Professional Licensing Agency provides professionals the opportunity to update, renew, order or print any license. Consumers are able to search and verify licenses and digitally certify a license. The Board, however, does not provide CPA Exam scores, as the exam is administered by the National Association of State Boards of Accountancy (NASBA).

Once licensed, Indiana CPAs can join the Indiana CPA Society, which represents professional CPAs and strives to enhance and improve the success, ethical standards and professionality of its members.

Indiana Board of Accountancy

Address

402 West Washington St., Room W072
Indianapolis, IN 46204

Phone Number

(317) 234-3050

Indiana CPA Society

Address

8250 Woodfield Crossing Blvd #100
Indianapolis, IN 46240

Phone Number

(317) 726-5025

Email

[email protected]