[kelly017]

Hi everyone!

I’m currently in a Financial Analyst position (with just my BS in Accounting) and I found that I really like that work compared to accounting. I’ve also recently had a discussion with my boss and was told that either education or experience will get your promoted to a higher level. However, I’ve noticed that most (if not all) of the senior members here have their MBA.

My question is, with a CPA, is there a chance I can work my way up to the senior levels?

I’m scheduled to take the FAR exam 7/23 and I’m terrified! I’ve been doing MC, watching lectures, and taking notes but the information is just not sinking in as well as it should. The only section I feel so comfortable with is the Basic Concepts.

What are your thoughts?

[Anonymous]

Get the CPA and then get an MBA (online or part-time is fine, should only be 10-12 classes), which will then count towards CPE. I have a CMA and an MBA, and I will value the CPA much more highly than the other two once I am done.

[John Tucker]

Yep I have an MBA right now from a college out of Utah State, it's regionally accredited and has a good marketplace standing but it's not one of the branded MBAs.

I believe that the CPA is much more valuable than the MBA in terms of career prospects in the Finance, Accounting and Consulting arenas. The reason being is that everybody knows that there's no way you can pass the CPA Exam without actually knowing the content, where as with an MBA you could just skate right on through especially if you are working within a team that has other members doing most of the work. Plus, there's no continuing education required to be an MBA, so the content you learned during your MBA could be lost in memory within 3 years.

The exception to this is if you have a branded MBA, which is why people with Harvard MBAs refer to themselves as an “Harvard MBA” and not just a regular MBA.

Overall I would say CPA > MBA, but if you have the money and time just get BOTH as they are the ultimate 1-2 punch that in combination with experience, great networking and great references you could work almost anywhere in the fields of Finance, Accounting and Consulting.

* State of MA CPA Exam Candidate
- BEC: Sunday, August 24th
- FAR: Saturday, November 29th
- AUD: TBA for February 2015
- REG: TBA for May 2015

[John Tucker]

Yep I have an MBA right now from a college out of Utah State, it's regionally accredited and has a good marketplace standing but it's not one of the branded MBAs.

I believe that the CPA is much more valuable than the MBA in terms of career prospects in the Finance, Accounting and Consulting arenas. The reason being is that everybody knows that there's no way you can pass the CPA Exam without actually knowing the content, where as with an MBA you could just skate right on through especially if you are working within a team that has other members doing most of the work. Plus, there's no continuing education required to be an MBA, so the content you learned during your MBA could be lost in memory within 3 years.

The exception to this is if you have a branded MBA, which is why people with Harvard MBAs refer to themselves as an “Harvard MBA” and not just a regular MBA.

Overall I would say CPA > MBA, but if you have the money and time just get BOTH as they are the ultimate 1-2 punch that in combination with experience, great networking and great references you could work almost anywhere in the fields of Finance, Accounting and Consulting.

* State of MA CPA Exam Candidate
- BEC: Sunday, August 24th
- FAR: Saturday, November 29th
- AUD: TBA for February 2015
- REG: TBA for May 2015

[justgivemea75]

@Mathgirl, or anyone in FP&A really, how possible is it to move into FP&A after working in public for a bit? I'll be starting at a Big 4 and hopefully (if FAR doesn't kill me one week into studying) get my CPA, but I was a finance major and eventually want to be in a role that combines accounting knowledge with projecting the future, if that makes sense.

Ideally, I want to transition from being someone who creates financial statements (classic accountant) to someone who uses financial information in decision-making. Basically, my goal is to be a manager of some unit and be in charge of it's P&L. This means not only doing the accounting stuff (i.e. reporting BU performance, reconciling accounts, etc.) but also being involved in assessing what projects/actions will grow and/or affect the bottom line (i.e. if we axe this product line, how will the financial statements change or if we expand capacity, invest in R&D for this product, what are the effects on our profit/loss and should we do it, etc.).

Does this sound like something I could do with an accounting + CPA background?

FAR - 84
AUD - 76 (phew)
BEC - 88
REG - 77

DONE!

[justgivemea75]

@Mathgirl, or anyone in FP&A really, how possible is it to move into FP&A after working in public for a bit? I'll be starting at a Big 4 and hopefully (if FAR doesn't kill me one week into studying) get my CPA, but I was a finance major and eventually want to be in a role that combines accounting knowledge with projecting the future, if that makes sense.

Ideally, I want to transition from being someone who creates financial statements (classic accountant) to someone who uses financial information in decision-making. Basically, my goal is to be a manager of some unit and be in charge of it's P&L. This means not only doing the accounting stuff (i.e. reporting BU performance, reconciling accounts, etc.) but also being involved in assessing what projects/actions will grow and/or affect the bottom line (i.e. if we axe this product line, how will the financial statements change or if we expand capacity, invest in R&D for this product, what are the effects on our profit/loss and should we do it, etc.).

Does this sound like something I could do with an accounting + CPA background?

FAR - 84
AUD - 76 (phew)
BEC - 88
REG - 77

DONE!

[justgivemea75]

@Mathgirl, or anyone in FP&A really, how possible is it to move into FP&A after working in public for a bit? I'll be starting at a Big 4 and hopefully (if FAR doesn't kill me one week into studying) get my CPA, but I was a finance major and eventually want to be in a role that combines accounting knowledge with projecting the future, if that makes sense.

Ideally, I want to transition from being someone who creates financial statements (classic accountant) to someone who uses financial information in decision-making. Basically, my goal is to be a manager of some unit and be in charge of it's P&L. This means not only doing the accounting stuff (i.e. reporting BU performance, reconciling accounts, etc.) but also being involved in assessing what projects/actions will grow and/or affect the bottom line (i.e. if we axe this product line, how will the financial statements change or if we expand capacity, invest in R&D for this product, what are the effects on our profit/loss and should we do it, etc.).

Does this sound like something I could do with an accounting + CPA background?

FAR - 84
AUD - 76 (phew)
BEC - 88
REG - 77

DONE!

[justgivemea75]

@Mathgirl, or anyone in FP&A really, how possible is it to move into FP&A after working in public for a bit? I'll be starting at a Big 4 and hopefully (if FAR doesn't kill me one week into studying) get my CPA, but I was a finance major and eventually want to be in a role that combines accounting knowledge with projecting the future, if that makes sense.

Ideally, I want to transition from being someone who creates financial statements (classic accountant) to someone who uses financial information in decision-making. Basically, my goal is to be a manager of some unit and be in charge of it's P&L. This means not only doing the accounting stuff (i.e. reporting BU performance, reconciling accounts, etc.) but also being involved in assessing what projects/actions will grow and/or affect the bottom line (i.e. if we axe this product line, how will the financial statements change or if we expand capacity, invest in R&D for this product, what are the effects on our profit/loss and should we do it, etc.).

Does this sound like something I could do with an accounting + CPA background?

FAR - 84
AUD - 76 (phew)
BEC - 88
REG - 77

DONE!

[fuzyfro89]

Justgiveme75:

Yes. CPAs make it into fp&a. You will have to demonstrate that you understand financial concepts, and really understand how to tear apart financial statements.

Understand transaction flow, BS impact, IS impact, and cash flow impact, and you'll be a strong candidate for fp&a.

[fuzyfro89]

Justgiveme75:

Yes. CPAs make it into fp&a. You will have to demonstrate that you understand financial concepts, and really understand how to tear apart financial statements.

Understand transaction flow, BS impact, IS impact, and cash flow impact, and you'll be a strong candidate for fp&a.

[Author]

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