[Anonymous]

Currently 26 years old with a BS in Business Management. Finished college with a 3.33 GPA and recently took the revised GRE and got a 150 (48 percentile) verbal 154 quantative (67 percentile). I’m kind of a math nerd so I enjoy problem solving and accounting seems like a profession I would like. However based on some research I’ve become scared of pursing this profession. If I go back to school I want it to be a worthwhile investment but based on my grades I don’t think I can get into a top ranked accounting schools’ MAC program. From what I’ve read if you don’t get into a top ranked MAC program it’s a waste of money as you won’t get a job coming out of school in this economy. I have also read stories on how the accounting profession is starting to get outsourced and replaced by computers. I’m also worried about my lack of work experience as I work for a family owned small business (even though it’s very successful apparently that doesn’t matter).

Do you think under these circumstances that trying to enter the accounting profession world would be worth it?

Just looking for advice and don’t be afraid to be brutally honest it won’t hurt my feelings :p

[Resacups]

I made a complete career change by going back to school and getting my MAcc. I graduated 11 months ago from a state school, i.e. not a top program and had zero problems landing a job. My undergraduate grades are similar to yours, but finishing number 2 in my grad school class, with a 4.0, spoke volumes for my abilities in accounting. In fact, I have been employed for 13 months now with a midsize firm.

I was older than you when I started grad school, albeit, not much older and never ever let that deter me.

If you want to be a CPA, go for it.

BEC: 01/09/12 PASSED
AUD: 05/29/12 PASSED
REG: 07/19/12 PASSED
FAR: 11/12/12 PASSED

[Anonymous]

When I was going through the accounting program at my school there were a ton of business degree graduates who returned to get accounting degrees. Makes it easier to get a job, and at higher salary.

Regarding a masters degree, I know a lot of people who have gotten it and then said the added benefit is not worth the added cost ($ + time + effort). In accounting, best thing is to get the certifications (CPA, CIA, etc.). For accounting, particular school doesn't matter that much as accounting is accounting. It is all about the certifications 😉

[KEMcpa]

I'm a little older than most folks on this forum, but my perspective is that enjoying the work and people with whom you work (both clients & co-workers) is a huge factor in long term career satisfaction. I would also say, it is never too late to make a career change.

I graduated college at age 21 with a degree in Math and English with a secondary teacher's certification. About 2 weeks into my first teaching job, I realized I HATED it! Eventually ended up with some bookkeeping responsibilities in a small retail store. I found that I really enjoyed it! I started having babies and made the choice to be a full time stay at home mother for about 15 years. I think I was 28 when I first thought about getting a CPA license during the “baby years.” About 15 years ago, I accepted a part time administrative position in a small accounting firm with tax preparation as its focus. I love working there and currently have a minority ownership interest in the firm. 4 years ago I returned to school to meet the educational requirements for CPA exam. Grad last Aug with MSA. I'm almost through with my CPA license goal at an age when many people are considering retirement.

I agree with the above poster that the CPA designation is more important than the master's degree. For me the difference in meeting the educational requirements to take the exam and the master's degree was only 2 or 3 classes. I decided to go ahead with the degree for my own personal satisfaction and the opportunity to teach at the university level should I ever desire to change my mind again.

My encouragement to those younger than myself is:

1) Keep lots of options open.

2) Life happens and changes you, so be flexible

3) There is more to life than money.

4) And it's never too late!

No one can make these decisions for you. If this is the direction you want to go, then go for it! If it is not what you want, then walk away. Who knows you might be back again some day.

Accounting is not for everyone, but it is a great profession. You just have to figure out if it is right for you.

Licensed Texas CPA!

[nikkib88]

Birk12,

The MAcc is not necessary in the accounting profession. It really depends on you, and if you think it is worthwhile to you personally. Finding jobs in this economy is difficult, but if you are pursuing a career in accounting, especially public accounting, your changes are much higher. Many of the public accounting firms, especially the Big 4 are just DYING for people to come work for them.

Here's a little personal advice about the MAcc and accounting from my experience. I didn't do the MAcc program, or get a master's in anything at all. I actually have a degree in architecture, but got hired by one of the Big 4 and am starting work as an audit associate in September. I'm currently studying and sitting for the CPA Exam. All you need to sit for the CPA is 150 credit hours, 24 in business, 24 in accounting. Given that you have a degree in business, you most likely have the 24 business hours, and possibly some, if not all the 24 accounting hours. Many people choose to do the MAcc program because it gives them the extra hours needed, but is definitely not something you have to do! It is personal choice.

As for the accounting profession being replaced by computers, I don't think that is true. Maybe bookkeeping, but if you are pursuing public accounting – audit or tax or consulting – computers will not be able to replace these professions. Take it from my experience! No MAcc degree, and not even an accounting degree! And I just got hired in the accounting profession. It's all about who you are, how driven you are, and how you can show them what you got!

Hope that helps some!

FAR - 8/14/12
REG - TBD
BEC - TBD
AUD - TBD

[wldcatnc]

In my opinion, Accounting is no longer a math based profession unless you consider adding, subtracting, dividing etc. as difficult math. If you are a math person and that is something you feel you have a real passion for, I would highly suggest a degree in quantative finance. This degree incorporates the accumen of business but adds that math element that you desire.

As for accounting being replaced by computers, unfortunately computers don't have the analytical ability that we humans have and that is where the profession is heading. Yes, jobs will decrease for the number inputters but for us that choose to be CPAs, there is always a need.

FAR: 81
REG: 85
AUD: 73,71,83
BEC: 82

DONE!!!!!!

[Anonymous]

If you can find a job, it is worth going into the profession.

But first find a job 🙂 No profession is worth working in without paid employment 🙂

[MeaDebitum]

I wouldn't choose the accounting profession just because you enjoy math. Math is involved in a lot of what we do, but it certainly isn't focused on that. As far as the MACC goes, that's a personal thing. Most of the firms I interviewed with were much more interested in if I had 150 credits or not. So it isn't necessary, but if you have money that you don't know what do with you could complete a MACC.

[Whatdidyou]

“Many of the public accounting firms, especially the Big 4 are just DYING for people to come work for them.”

Err, no. That's not true.

REG - Passed!!
BEC - Passed
FAR - Passed
AUD - Passed

Study Materials: Becker basic course

[HFinn]

If you're in a state that requires the 150 hours to sit for the CPA exam, I'd say the MAcc is worth the investment. This is especially true for non-Accounting/Finance majors wanting to break into the field.

And although the CPA does currently trump having a MAcc, I’ve already seen where job postings will prefer a Master’s degree when hiring for higher level positions. I’ve seen a few job postings for CFOs where they mention that a Master’s is required. So I think if you’re ambitious and aspire to a higher position, it will be an added benefit down the road.

Another aspect is recruiting. Although you could get an accounting certificate from a community college, a lot of those programs do not have access to on campus recruiting like many 4 year universities do. That already would put you at a disadvantage when looking for work. Not sure if accounting certificate programs from major universities give students access to recruiting, but it might be something to look into.

In terms of why it might be a good fit for you, like many have posted, math in accounting is pretty simple: Add, subtract, divide, and multiply. Finance definitely has higher math, but the job market for that stinks. With your low grades, I’d recommend staying away from a degree in quantitative finance, but that’s up to you.

Finally, I wouldn’t worry about computers taking over. Services like basic bookkeeping and tax preparation might be affected, but complicated accounting issues will always need judgment and knowledge that a computer does not have. The trick is to try to get a job that is not just basic data entry.

Hope that helps, and let us know what you decide.

[Author]

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