This board is great for non-relationship advice so I figured I'd ask. I have a good friend who has a business degree that would like to be a CPA. He'd like some opinions fron any CPA's. He has no background in accounting. You need 150 credit hours, 30 of which must be upper level accounting, to sit for the exam. Obviously he doesn't just want to sit but pass it as well. One, there is a certificate of accountancy thing that provides the classes necessary to sit for the CPA. Does the certificate mean a thing in the business world? Two, he could certainly get a second bachelors which would be in accounting and then take the necessary hours to sit for the exam. This option is least favorable do to the time. Third option, pursue an MBA and simultaneously take any remaining accounting classes at a community college to sit for the exam. An MBA plus the classes I would think is preferable to the certificate or the second bachelors. Thoughts?
not sure about the certificate but the MBA option sounds the best. there are a lot of programs that offer a MS that fulfills the requirements, and you get a MS which is way more useful than some cert.
I agree however the MS requires an accounting degree as a prerequisite. If you have a business degree then they tack on a bunch of classes at their discretion.
Tell him to find a MACC program. It is a masters centered around accounting and generally designed to help those particpants pass the exam. Win-Win.
The MBA is probably the best bet. I've never heard of that certificate thing and I don't think that anyone would/should ever put it on a resume. Most companies are going to want you to have a degree in Accounting/Finance any type of accounting job. What is his undergraduate degree in?
He should go for the masters. I would also recommend looking into some accredited (that's important) online programs since they tend to be cheaper, more convenient, and once you pass the CPA what school you went to doesn't really matter all that much.
What does he wan to do with his CPA? Go into a large firm? I work for a large firm right now in audit, and I'm actually trying to get out. I have my CPA and I'm not too sure that it is helping me find a job in industry all that much.
I'd steer clear of an MBA. It would be better to get a masters in finance, accounting or econ. Obviously a masters in accounting will get him the credits necessary and that would make the most sense. An MBA in the general world doesn't mean a great deal unless it's from a top tier school. I'm wondering why he wants to be a CPA is he isn't interested in actually taking accounting classes as a degree?
I've never seen an MBA looked at as "not a great deal" regardless of tier of the school. Obviously it'll look better from a top business school, but why do you have that opinion on MBAs. I'm honestly interested in why you think.
It's the masters' Equivalent of a business undergraduate degree. Everyone gets one without really thinking much about the use/need.
Big firms have killer work hours, with no overtime pay. It is very rigorous work and not easy on you by any means. However, most people tend to use public accounting as a stepping stone into fast track situations at industry accounting jobs.
I do tax and have worked for small-medium firms. Hours suck, pay is okay, but I can't complain. Could never imagine leaving public accounting.
The certificate itself is meaningless and will not provide much. 150 hour rule should be covered under his buisness degree, its the 30 hours that is tricky to cover. When hiring, the most important question they will ask is are you eligible to sit for the exam or are you working towards it. Your friend needs to find out what he wants to do his life. Having a CPA is just a hurdle to get to where you want to be. Does he want to audit? Tax work? If he wants a CPA to have a CPA, then just do the minimum amount to get it and don't worry about the extra degrees. HCC offers numerous cheap classes to get that upper 30. They are fairly easy and relatively cheap. There is a limit on online classes though and warn him to look at what counts towards the upper 30, because there was a class or two I thought would obviously count towards it, but did not. The route I went was a BBA in Economics, then an MBA with my electives upper level accounting courses. Then rounded out the requirements with a couple online classes at HCC. I sit for the third part of the CPA exam on Thursday. In retrospect I probably didn't need the MBA nor the added debt it cost.
But you'd typically emphasize on a specific business discipline, no? ie: MBA in HR Management, Accounting, etc...
Yes but my point still stands. It's typically generalized business knowledge with a focus on specific discipline. A Masters in Science is a more in-depth / technical understanding. That's my opinion.
I'm working at a relatively big firm, top 15 in Houston, well more on the upper medium size and I love it. I'm working on the tax side and they're also one if the few firms who pay overtime.
