[LIZZ]

Hi,

I have a friend who is considering getting a masters degree in accounting then start working on her CPA exam. I have a masters degree and 2 years later still have not passed the CPA exam. She is one of the best accountant I know and has about 20 years of accounting experience under her belt.

My advice to her was to take the CPA exam in a state where she meets the educational requirements and skip that MA degree.

What would your advice to this friend be? Are there any advantages to getting a MA degree from a local state school?

FAR - 05/2015
AUD - 75,11/2014
REG - 07/2015
BEC - 09/2015

[ScarletKnightCPA]

Does she need the education credits?

From what I hear, skip Master of accounting. CPA first, then MBA or master of tax or other field. CPA is equivalent or better than Masters in Accounting in employer's eyes.

But then again, I am doing an MBA with a double concentration in accounting and finance for the hell of it.

Far: 76 (Wiley Test Bank)
Aud: 77 (Wiley Test Bank)
Reg: 61, 76 (Wiley book, Wiley Test Bank)
Bec: 86 (Wiley Test Bank)

MBA in progress

[LIZZ]

Im listening to Jeff's podcast… He just talked about this exact subject I'll have her listen to it.

She has BA in accounting so enough education to sit in some states just not Georgia where we are.

FAR - 05/2015
AUD - 75,11/2014
REG - 07/2015
BEC - 09/2015

[mla1169]

Most states require 150 credits total, if she's got 150 with her bachelors I wouldn't bother going back to school. Also she needs to think about the experience requirement. I've got over 20 years of accounting experience as well but because I never worked in Public accounting it doesn't count in my state (the experience HAS to be in attest). Fortunately I live in a state that offers a “non reporting” license if you have a masters so there is a benefit in my case.

If your friend has an employer that offers tuition reimbursement I'd pursue the masters. If she's going to pay for it herself she really needs to consider the ROI for the graduate degree. Usually it costs more than it adds to a salary (trust me on this).

She also needs to consider where and how she would qualify for a CPA license.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[fuzyfro89]

Financelady:

In Georgia, unless it's changed since 2011, you can SIT for the exam after you obtain your bachelors, but you must obtain the 150 credits in order to apply for licensure. I would check to see if those scores expire (e.g. you pass in 2014 but don't finish education until '15-16). I don't believe they expire once you pass them all, but rules change.

[Author]

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