Accounting and calculators go hand in hand because of the sheer number of functions and calculations one must carry out. From cash flow calculations to profit margins, investment values, and loan-related expenses, there’s so much that needs to be done on a daily basis. It is nigh impossible to do them without a good calculator.
This is why calculators are encouraged right from the beginning of financial and accounting courses. They are also allowed during CPA and CFA examinations. They save a lot of time and are very handy. Some of them come with cool features such as built-in functions for financial calculations, dual power, and a large display.
If you are preparing for your CPA exam, one of the most important things to do is to buy a good calculator. That’s what we are going to talk about in this article.
Is your current calculator good enough?
Most of you must already have a calculator but is it good enough? Can you walk into the exam hall with full confidence that your calculator will help you? These are the points to note:
- It can be any scientific or financial calculator – CPA allows both
- It should not be able to record or store data
- It should be able to do all calculations from your study guide
Satisfying these criteria is important. If your calculator does not, you need a new one. There are many available at a reasonable price for you to choose from.
CPA Exam calculator
Based on various factors and reviews, we have shortlisted the 5 top calculators for CPA exams. Do take a look.
1. HP F2231AA – Financial Calculator
Did you think HP only manufactured computers? Well, it has a few stellar calculators to its name as well! This particular battery-operated calculator is a smart choice not just for examinations but also for the future. Here’s why we say so:
- It can display 10 characters at a time, in a single line.
- It is suitable for algebraic data entry and RPN.
- The calculator comes with keystroke programming and allows up to 40 steps.
- It has more than 130 math, statistical, and financial functions already built.
- It is quite durable and has a protective sleeve.
- Its battery life is exceptional. The batteries can last you a lifetime.
2. Calculated Industries 3405 IIIx
The Calculated Industries’ financial calculator is an Amazon’s Choice product. It is a user-friendly calculator with a variety of handy functions for accountants. Let’s take a closer look:
- It has dedicated function keys using which you can compare loan options and calculate payment solutions in a jiffy.
- It has many basic functions that students and professionals will find helpful.
- The calculator has been designed keeping real estate financial functions in mind. So, you will find many built-in functions to make mortgage calculations, ARMs, amortizations, etc. easy.
- The keys of this device are soft and sensitive. You do not need to apply additional pressure for the calculator to register the command.
- It can easily save interest rates and insurance rates.
3. Texas Instruments BAII Plus Financial Calculator
Texas Instruments rules the world of financial calculators. Its models are very popular and renowned all over the world. The BAII Plus is a particularly good one for CPA exams for the following reasons:
- It is a 10-digit battery-powered calculator.
- It can store 24 interest rate conversions, uneven cash flows, etc.
- It has a very interesting time-value-of-money function.
- You can easily calculate NPV and IRR with this one.
- It has an auto-shut-off feature that saves battery life.
4. Canon Office Products HS-1200TS Business Calculator
If you are looking for an affordable and basic calculator, the Canon HS-1200TS is a good choice. It is portable, lightweight, and has a few nice features such as:
- It allows 12 digits in a line.
- It is suitable for profit margin and tax calculations.
- It comes with dedicated memory, square root, and sign change keys.
- Its color-coded keys are easy to use.
- The calculator is purely functional with a large keyboard and ergonomic design.
5. Casio DM-1200BM Business Calculator
The Casio DM-1200BM is suitable for anyone with eyesight issues. It has a large display that makes viewing easy and without any stress. Its features are as follows:
- Its 12-digit display is quite large and easy to read.
- It comes with dedicated tax, cost/sell/margin keys.
- It is dual-powered, which means you can charge it with batteries as well as solar energy.
- The calculator has independent memory.
- The keys are very easy to use and do not require additional pressure.
Choosing a good calculator for your CPA exam will make things easy for you. A calculator is a must-have because otherwise, every calculation will turn into a nightmare. The aforementioned choices are different in a few ways, you will notice. We have shortlisted different types of calculators on purpose to help you find the one that suits your requirements. Should you have any doubts, please feel free to talk to us. We will help you zero in on the right model.