[Reverie]

We know that the CPA exam is going to be harder next year. We also know that more than half of baby boomer CPAs are going to retire. This means there will be less CPAs in the future. Does this mean more $$$ since there is no surplus of CPAs? There will be less CPAs and with the CPA standard increasing, each CPA will earn more $$$ (Does it also mean each CPA will have to work harder?).

Am I right? lol.

[letsrun4it]

Optimistic. If one of these politicians increases high skilled immigration like they've talked about such as H1B visas we could double the amount of CPAs we have who will all work cheaper than us. I live abroad and see how this stuff works.

BEC: 85
REG: 74, 78
AUD: 86
FAR: October?

[Reverie]

I think with Hillary, she will increase regulation and this is be good for CPAs.

In regards to CPA offshoring, that is if US GAAP converges. If US GAAP doesn't converge, it will also be good for American CPAs. They wouldnt have to compete with the world and it gives them a competitive advantage because the US is the world reserve currency. Many countries' economies revolve around the US. This means US GAAP American CPAs will be always in demand. With IFRS, there will be no difference and an American CPA might have to compete with the world like you said.

[letsrun4it]

After all this studying I want to believe in what Roger says about a CPA being the ticket to becoming rich and happy!

BEC: 85
REG: 74, 78
AUD: 86
FAR: October?

[Reverie]

^ Not true. I know non-CPAs who make it better than CPAs in business. However, CPA provides more opportunities to become rich and CPAs are in high demand now. Its not as straightforward as you think. I don't think staying as an auditor until manager will make you rich. You gotta be a rainmaker.

[Porma Fierles]

I think the exam change is only to reduce the number of CPAs out there, not modify the market value of CPAs. Personal opinion though, only the AICPA knows why they changed it.

[CPA2BEE]

I wonder what will happen, if anything, to pass rates when the exam changes.

Being a CPA doesn't make you money, it allows you to sign your name for services that nobody else can provide – and its being able to sell those services that makes you money. Sell, sell, sell is the key to making the money. The CPA license just gives you something to sell…

FAR - 80
AUD - 82
BEC - 80
REG - 85

ETHICS - 90
EXPERIENCE - COMPLETE
Application for California license mailed 8/4/2016

[Anonymous]

I doubt it. The people who teach Becker have said themselves that even though the pass rate is higher than it has ever been, less people are seeking CPA license. There would be no reason to lessen the amount of CPAs out there. This change, like the last several before it, is just so they make more money.

[Anonymous]

baby boomer CPA's are retiring in swarms with not enough young people going into public accounting to replace them. look @ all the CPA practices for sale out there.

[Son]

” If one of these politicians increases high skilled immigration like they’ve talked about such as H1B visas we could double the amount of CPAs we have who will all work cheaper than us.”

here we go again with BS arguments. H1B candidates must be offered at least as much as US workers for the same position to even be allowed to apply for a work visa. Believe it or not, as an H1B holder I earn not just as much, but actually more than most US-trained CPAs. Please do not mistake high-skilled workers with illegal immigrants who are willing to do low-qualified labor for less than a minimum wage.

AUD - passed
REG - passed
BEC - passed
FAR - passed

[CPA2BEE]

@Son is right – these are CPAs, not sweatshop workers…

FAR - 80
AUD - 82
BEC - 80
REG - 85

ETHICS - 90
EXPERIENCE - COMPLETE
Application for California license mailed 8/4/2016

[Anonymous]

The cpa exam is not going to be harder. It has always been difficult and passing rates are easily controlled. The same people who passed 10 years ago would be the same ones who would pass when the changes take place. Ita only about outstudying your peers and that comes down to motivation. The exam changes all the time and everyone is quick to whine that it is harder now. Simply not true. When grading is weighted against other test takers difficulty is not really relevant. It all comes down to effort.

[Jay]

Most companies take advantage of the H1B visas as described in the articles. Talk to people in IT and they can tell you how the system really works.

https://www.nytimes.com/2016/01/26/us/lawsuit-claims-disney-colluded-to-replace-us-workers-with-immigrants.html?_r=0

https://www.nytimes.com/interactive/2015/11/06/us/outsourcing-companies-dominate-h1b-visas.html

Giving up is not an option.

REG 82
FAR 76
Aud 8/31/2016
BEC 11/30/2016

[Son]

@flimbar, I'm surprised to see such a biased article on NYT; it grossly misrepresents the H1B application process.

Companies are required to obtain a certification from the Department of Labor that the salary they are offering to a potential H1B applicant is, again, at least as high as what would be offered to a US accountant. Quick check shows that in Chicago this would be no lower than 42K/year (https://www.flcdatacenter.com/OesQuickResults.aspx?code=13-2011&area=16974&year=17&source=1) for an entry-level position.

I'm not saying there aren't people out there trying to take advantage of the system; but let's focus at the accounting industry – in my experience there's little if any fraud when it comes to temp work visas for CPAs.

AUD - passed
REG - passed
BEC - passed
FAR - passed

[Author]

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