[Mary 2496]

I finished my undergraduate degree in accounting and then went on to acquire my master’s degree in accounting (both at the same university). I finished my MSA in 2011. I then took some time off (big mistake, but that’s another story) before starting to work towards my CPA license.

Has anyone else found that even with a degree in accounting, very little of what you learned can be applied to practical areas of the CPA exam? For example, in my master’s degree classes for auditing, we never actually worked through an actual audit, which would have helped immensely with the exam. In Income Taxes or whatever it was called in college, we never went outside of the basic tax rules for individuals and businesses, even in graduate level classes.

Without naming names of colleges and just in general conversation, has anyone else discovered that they wished their college better prepared them for the exam?

Thanks in advance for any input received.

[Rocky123]

I have been out of college for over 15 years so it isn't fair to compare those courses to today's exams.

But I am interested in people's perspective on this topic.

The tallest oak in the forest was once just a little nut that held its ground.

AUD-PASS
BEC-PASS
REG-PASS
FAR-PASS

Rocky123, CPA

[MydnightDarkfyre]

College doesn't prepare you for the CPA exam, because not everyone becomes a CPA. This is why Becker gets away with charging $3000+ for their review courses.

However, I will say that my Business program did pretty good at getting me ready for BEC. We beat COSO to death, had microecon and macroecon as required classes for undergrad, and I had not one but two cost/management accounting classes…so I guess I am lucky in that respect.

FAR: 82 (Becker) 07/09/2014
AUD: 80 (Becker) 10/01/2014
BEC: 76 (Becker) 11/26/2014
REG: 82 (Becker) 02/16/2015

GA Licensed CPA 8/7/2015

CISA: 564 (PASSED) 6/11/2016 - Certification pending

[umkcfuturecpa]

Honestly, I think both the CPA exam and schooling are similar in that neither really prepares you for real life. If anything, school preps you better for the exam because the exam is theoretical and task based. You don't go through the realities of people not doing their job, completely bumbling it up, or the truly, truly menial tasks during the exam.

REG - 87 (Becker)
AUD - 96 (Becker & Ninja MCQs)
FAR - 85 (Becker, Ninja MCQs, Audio and Blitz)
BEC - Last one! Waiting on score release 11/24!

Remember: a journey of a thousand miles begins with a single step

[mla1169]

A very wise person once told me that what you learn in college is hardly ever applied in real world situations. The purpose of a college education is work ethic and discipline that prepare you for being an adult. I learned a lot about time management and study habits (out of necessity since I wasn't a traditional young, single student) that benefitted me greatly when I was studying exam material.

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

Massachusetts CPA (non reporting) since 3/12.

[TNCPA16]

My school offered a professional accounting program when I was there which was designed for people intending to sit for the CPA exam (I graduated with 150 hours and enough accounting/business credits to immediately sit for the exam). The pass rate for students who went through the program was pretty good – I don't remember the exact numbers, but I know it was well above the average.

My auditing professor had us memorize the basic language of an unqualifed opinion, as well as GAAS. And we had several authoritative literature homework problems, similar to how some of the SIMs are on the exam. In our advanced auditing class, we did have to do a mini audit on a not-for profit company. I also had to take a governmental accounting class, 2 different tax classes, 2 different business law classes, cost accounting, micro econ, macro econ, etc. Really everything covered on the exams was covered at some point in my education…too bad I didn't do a better job of remembering all of that!

[go2134]

I just graduated Undergrad in May. My classes were a joke, and there was rarely any fostering of learning. They were all designed so that you can just memorize facts and pass a test, so that the University can brag about statistics. I had maybe 5 or 6 Accounting classes that I actually learned from, everything else was just a process. If I had the option to go to college or just take specialized courses & field experience, I would have never looked back.

[mla1169]

“They were all designed so that you can just memorize facts and pass a test”. Sounds JUST like CPA exam prep LOL!

Not a single CPA could retake the exam without completely restudying and pass.

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

Massachusetts CPA (non reporting) since 3/12.

[Rocky123]

@mla1169

I couldn't agree more with your comment “Not a single CPA could retake the exam without completely restudying and pass.”

The tallest oak in the forest was once just a little nut that held its ground.

AUD-PASS
BEC-PASS
REG-PASS
FAR-PASS

Rocky123, CPA

[y_u_no_pass]

I went to a newer, relatively underrated college. I think that my education prepared me very well for the CPA. There have been some areas I never covered (although most of them are offered at the master's level at my school). However, for REG, and much of BEC (except COSO) it was just a review and I felt my program covered these items very well (exactly what you need to know for the CPA exam).

Florida CPA!
Took final exam 2/25/15.
Sent in Application 3/12/15.
Issued License 3/20/15.
Used CPA Excel solely for all exams.

[Anonymous]

Sounds like you just went to a bad school/program.

My graduate degrees were from a good school in the northeast. They basically said the program will prepare you for the CPA. They were right. They had research classes, governmental classes, IT classes, all the nooks and crannies.

[Mary 2496]

Thanks for the replies so far. I just feel like I really was not prepared for the CPA exam from a grad. school perspective. I look back and think that I should know more about auditing because we never actually worked on an audit in grad school or should know more about topic X, which should have been taught in accounting grad. classes.

Even though it was a well-known and highly respected college, it is a valid point that perhaps this particular field in that college is lacking.

Of course, the enormous amount of student loan debt that I now have from undergrad and grad school also weighs a bit sorely on me, seeing everything that I need to know and didn't learn in college, while paying off those student loans every month.

Thanks for everyone's opinion – much appreciated.

On a side note, I totally agree about the CPA comment in that CPA's now would even have to study. One of the CPA's in our office is 76 years old and still very active in the profession, still has a good number of clients and remains very sharp. He has been watching what I have been going through with some of my sections when I talk during office breaks about the exam. He tells me flat out that he would be so discouraged and wouldn't be able to make it if he had to retake the CPA exam, and this is a man that worked for decades for one of the biggest accounting firms.

@ go2134 — I am starting to develop the same opinion, the more I see how much I need to know and don't. Ugh.

[Skynet]

Someone wise once told me that there is a time and place for Drugs, Alcohol, and Wild partying and that's College.

[taxman89]

college isnt meant to prepare you for your job content wise. its meant to teach you how to think like your profession (like accountants) and to teach you how to work.

that being said in my undergrad audit class we did go through an entire mock audit and for income tax we did full returns and did hit some complex stuff.

Aud-75 3x I knew i never liked you
Bec-77 1x being in the bubble is stressful
Reg-82 4x its not me its you...and no we cant be friends
Far-78 1x easiest section

[ijustwant76]

College is all theoretical as far as I'm concerned. When you get to the real world, you actually start doing debits/credits and that's when it really sinks in.

[LongShot]

My accounting education was awful (undergrad and grad at same school). I learned at least 10x the amount of accounting knowledge from CPA review than I did in college.

FAR - 75
AUD - 72; 87
REG - 64; 74; 84
BEC - 88

Done!!

[Author]

Replies