[Anonymous]

Hello,

I am a full time working mom in MS in accounting program part time and have 2 and 4 year old kids. I have two 2 hour online sessions during the weekdays and a full day on site class every other Saturdays. I still have 3 quarters to go, so I will be done with this program around September this year. Also, I will start working for a public accounting firm in September as well. I currently working for a non-profit as an accountant and the workload is pretty light, so I sometimes do my homework at work.

When do you think I can start working on the CPA exam? I hear that there would be lots of changes in 2017, but I am not sure if I can really have time to study for the CPA exam on the top of working full time and going to graduate school.

My husband is already drained and doing a lot for me as he is the one who watched kids whenever I have a class..(we don’t have any family members around)

My option No 1:

still find the way to do it now due to the charges in 2017 exam..

For this option, I will probably have to bring my mom who lives out of the country.. I don’t even know if she is available but at least I can try..

Option No 2: don’t worry about it now just wait until I am done with the school at least.

As I start my new job at a firm in Sep and have no school by the end of September, should I at least try to pass one section of the exam? if so, which section should I try to pass? Reg?

Option No 3: quit my current job and still send my kids to daycare and study full time at least 1-2 month?

This might be challenging financially, so not sure if I can go for this..Also the timing might not work as there’s no exams in Aug..

For those who have limited time to study and a busy work schedule with little ones, which one would you recommend for me? I would appreciate any advice from you! Thanks!!

[MaLoTu]

Option 3 would give you the best shot at passing the exam before 2017.

I recently finished an MBA and a MS in accounting. I tried to take one class and study for BEC and found that it just wasn't practical to juggle both (ended up failing BEC). My last class what a capstone, group-based project, so that made it more difficult than just an average course.

There is really no perfect solution to your predicament … it is a choose your poison sort of situation. You are either going to go to school, work and study for the exam or start working in public accounting and worry about finding time to study for the exam. So, based on that I would order your options 3, 2,1 …

Good luck. I am sure that you will figure it all out. I have 2 kids also and the options are just further complicated when you start adding them into the equation! I did option 3, btw. I have been working on the exam for exactly one year and I am half way. So, you also have to factor in that you may not pass all in the first go.

[Missy]

I was working full time, my kids were 10 and 16 (with tons of activities including girl scouts which I was the leader for) and taking 2 classes per semester in grad school. I'm not going to recommend it but it absolutely can be done, and I was DONE in 12 months with what should have taken twice that long. It was at times almost unbearable, and exhausting. However I'd do it all again the exact same way. If you choose that path I'm happy to share what I learned, some at the tail end. But I will say the 2017 changes are NOTHING compared to what you're considering.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

mla11692, do you think I just focus on my school and finish it first before I worry about 2017 changes on CPA exam then? I feel really bad for my husband that he is so exhausted in supporting me being in this master's program.. The only reason that I could consider the option no 1 is to bring my mom to do it.. otherwise, there's no way that I can add more stuff on this crazy schedule… I am glad that I am about half way done though. Can't wait to be done with my school… I know it will pass, but it such a painful journey as well.. If I really have to consider to pass the exam in 2016, I guess I should quit my current job and study…. I really don't know if this is something that I should do..

[Anonymous]

If you take the 2017 changes out of the picture, would you still be concerned with trying to take the CPA exams while in the Master's program?

Here's my view of the 2017 changes: Will things change? Yes. Will it suck to be caught mid-process? Yeah, probably. Will it be the end of the world? Heck no! Think back a few years to when the exam went from pen-and-paper to computer based. I'll bet when that change happened, people took drastic measures to try to finish the exams before the big changes…and now those same people grump and moan that it was “so much harder back in the day”. The AICPA's stated goal isn't to make the exams harder to pass, but to make them a fairer assessment.

So, I'd say, don't let the 2017 changes scare you too badly. They won't be the end of the CPA passes. However, getting stuck in the middle – taking exams half one way and half the other – might be annoying. My suggestion would be focus on your Master's for now, start your new job in September, take a few months off studying to enjoy your kids and appreciate your husband, then sometime mid-2017 after your first busy season is over, see what the feedback is on the new format, and then ease into the CPA exams. By then your kids will be 4 and 6, and you, husband, and kids will all be rested and recuperated and ready to go at this again.

Can it all be done at once? Yeah, probably, theoretically…but it's not healthy for ya, and there's no need to, so take it slower. There will still be passes given out for CPA exams after 2017, so don't get caught up in the fear-mongering…just take it easy, focus on the tasks in front of you right now, and let the exams come at the time when they would have without the exam changes playing a role (or if Sept would have been the time, maybe wait a couple months if you don't want to get caught mid-change…and since a break after Master's and to start a new job wouldn't be a bad thing anyway).

[SomedayCPA2015]

As a single mom to two kids (5 and 3) going from public, to industry, and back to public I would try as hard as possible for option 3.

REG - Passed
BEC - Passed
AUD - Passed
FAR - Passed!!!! I have my life back.

[Missy]

I'd really advise against quitting a job to study. While it may be easy to find a job when you're done there are no guarantees. Even without a job, all four sections could take 18 months to pass, then it could take up to a year (worst case scenario) to get another job offer. Unless you're able to make ends meet on one income for anywhere from 6 months-2 years it's just too risky with a family. I don't think the 2017 changes are going to be that big a deal when all is said and done. I've seen multiple changes to the exam itself over the last few years (the introduction of IFRS was equally feared and avoided by people trying to finish before the change) and people still study as many hours and pass. Finish school first, then tackle the exams. Bring your mom over anyway, take what help you can get for as long as she is able to stay and make some memories while she's here. Good luck!

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

I got an offer from the public accounting firm from the campus recruiting and the start date is in Sep. It sounds like it's still not a bad option to quit my current job to get it done as much as I can for the cpa exam. However, the money will be an issue. 🙁

Lilla, I honestly wouldn't worry too much if there is no major changes in 2017. However, I felt like my work life will be busier once I start working at a firm, but who knows.. I never worked in public accounting firm..

I wish there's a right answer for me though.. why is it so difficult?

anyways, thanks for all your input. This makes me think what I need to value more..

[MaLoTu]

My biggest piece of advice is that you should talk to your husband and make sure you both are on the same page. It sounds like what you and your husband currently have on your plate is already overflowing. If you are going to do anything it should be with his 100% support and understanding.

[Anonymous]

MaLoTu, sure, I will. He has been very supportive for my study. Just wanted to make sure not to waste of our time and energy..Thanks a lot!

[Author]

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