Starting the CPA Journey

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  • #3311980 Reply
    NE CPA
    Participant

    I wanted to take a moment to share my CPA journey in hopes of getting some feedback. I'm 41 years old, about to finish up my MBA (2 semesters left) and looking to get the CPA license. Unfortunately, I was not an accounting undergrad and MBA is focused in Finance, Strategy so I'll need to take additional accounting classes to be eligible for a CPA candidate.

    My plan is as follows:

    Plan

    1. Take 5 Accounting Classes online, I am thinking LSU (Louisiana State University) to fulfill the educational requirements for Maine. I live in New England and Maine appears to be the most lenient state in terms of educational requirements. I will have the 150 credits soon enough.
    2. I still need to do research however I'll probably go with Ninja Notes, UWorld Roger for the study materials.
    3. My plan is to follow this sequence for the exams: FAR > AUD > REG > BEC. Of course nothing is set in stone, just a working game plan.
    4. I would like to complete the LSU Accounting classes plus the 4 exams by the end of 2022. I recognize that it's a fairly aggressive timeline however I am hoping to leave the United States (I'm from here) by Jan 2023. It won't be the end of the world if I don't finish up the CPA exams in time as I can always take them while abroad or travel back to the States, however we all need a goal to motivate us, right?

    Budget

    5 LSU Accounting Classes = $866 x 5 = $4,330
    NASBA Application + Registration Fees: $170 + $85 = $225
    Exam Fees: $226.15 x 6 = $1,357 (I know there are 4 exams; building a buffer in case I don't pass/need to retake)
    RogerUWorld Elite Package: $1,699 (as of May 2022)
    Ninja (Supplement): $67 x 4 = $268
    Maine CPA License + Criminal Background Check Fee: $56
    Total: $6,236 (Heck of a lot cheaper than my MBA!)

    Post CPA Goals

    I'm still working through these. I really like having the MBA/CPA combination as it opens doors for some great job opportunities, entrepenuerial pursuits etc. I really forensic accounting, real estate and family office niches however I'd like to go through the CPA journey and make determinations from the studies.

    Feedback/Next Steps

    I know I am a non-traditional CPA candidate and may appear to have some flexible goals/timelines, however, I am a hard worker and definitely motivated to pursue the CPA. Please let me know if you think this plan sounds feasible. I appreciate your feedback.

    MBA Student

    Future CPA Candidate (Maine)

     

     

    #3311983 Reply
    Tesla
    Guest

    I think your plans sound very doable & cost-effective. I went to a very expensive private University in the Northeast (not worth it, go to a public / state school, for 1/4 the price) for an accounting degree & eventually got my masters degree in Accounting from the same school. After doing so, I went to work for my dads business & kind of put accounting & getting the CPA on the side and also got really lazy. I paid $2,000 for Becker & put it on the side, then it expired. 3 years later, I just passed REG this past February on first attempt & just took AUD last Tuesday. Have to relearn everything, but I really want to get back into accounting. Like you said, a CPA license opens door to every single industry. Try to order the books from Roger & start studying as soon as possible. I always motivate myself by going on vacation to Florida if I pass. Best of luck & never give up

    #3311986 Reply
    NE CPA
    Participant

    I think your plans sound very doable & cost-effective. I went to a very expensive private University in the Northeast (not worth it, go to a public / state school, for 1/4 the price) for an accounting degree & eventually got my masters degree in Accounting from the same school. After doing so, I went to work for my dads business & kind of put accounting & getting the CPA on the side and also got really lazy. I paid $2,000 for Becker & put it on the side, then it expired. 3 years later, I just passed REG this past February on first attempt & just took AUD last Tuesday. Have to relearn everything, but I really want to get back into accounting. Like you said, a CPA license opens door to every single industry. Try to order the books from Roger & start studying as soon as possible. I always motivate myself by going on vacation to Florida if I pass. Best of luck & never give up

    I really appreciate your thoughts. I'm enrolled in a private University for the MBA and I agree with you completely. Many of the senior-level positions state MBA or CPA as the preferred credentials. I did the MBA to explore a few topics like strategy that I was interested in.

    I'm sorry that the Becker access expired and you had to relearn everything. However it looks like you are well on your way with REG and I'm sure AUD. I really like your motivation tips, particularly the vacation in Florida idea. I'll keep that going. Right now, I have to get through five accounting classes — the great thing is that they are online and self paced, so I can make some good progress on a flexible schedule.

    I wish you all the best as well! See you on the other (CPA License) side 🙂

    MBA Student

    Future CPA Candidate (Maine)

     

     

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