[jeane-claude]

I have struck out badly on the exams, I do not have a master’s degree. I am starting to feel that lacking the additional M.Acc has hampered my knowledge since it has been so long since I have been to college. My Roger and Becker have expired. Should I get a master’s then go back to studying for the exams? In my area, the firms are not willing to hire me until I pass 2 or more sections of the exam.

Advice is much appreciated,

Thank you!!

[ohiocpacma]

I don't think you need a macc to pass. I think it's a waste of money if that's your only reason. I would say that you need to study better with the prep materials. Maybe try to find a tutor if you need more customized instruction.

[Anonymous]

Nope just follow the review course and you will learn everything you need to know to pass the exam.

[cpa1234]

I do not think a MAcc is a waste of money. It's not going to suddenly magically make you pass the exams, but there are some very useful classes and I learned a lot in just a 1 year program, more than in all of my undergrad classes (but I didn't study that hard in undergrad). I know so many people who say the MAcc is a waste, but it really depends on what you need. I only had 120 when I graduated, so for me to waste time taking an additional 30 credits of garbage electives would have made no sense. The MAcc would be a great use of your time if you do not have a job currently (I didn't have many prospects after my undergrad), need the additional credits to get the CPA license, and want to help set yourself apart from other candidates. You could even attempt to get sections done during the MAcc (I know several people who did) and make really good use of your time – which employers will love!

[ohiocpacma]

@cpa1234 Do you think it's worth it if you have been taking exams (such as the OP)? I'm not saying that graduate education is a waste of money. My response was on the condition that their goal is to get the certification. In my opinion, there are cheaper and more effective ways to getting your CPA if you already have the credits than getting you MACC.

Goal Pass the exam:
Get a job in accounting and study better with exam review

Goal Pass exam and work in Big 4:
Get your macc

[Mike J]

If your goal is to increase your knowledge and/or learn what you need to pass the CPA exam, plopping down at least $15,000 for a Master in Tax/Accounting is a complete waste of time.
However, I recommend it for networking and job placement purposes. At least that's what I'm banking on.

[cpa1234]

@Ohiocpacma I think it depends on the individual. I didn't become an accounting major until I was a junior and with other things I was doing I only graduated with 120. I wanted to be completely qualified for a license before I finished all the exams, so I immediately went and did the MAcc. For me, I would have never been able to go back to school after working for a while and studying for all those exams, I wanted to be done with studying after I passed all the parts. I did the MAcc right away to get the 150 over with. I think the classes I took in non-profit and corporate tax, only available in the MAcc at my school, helped so much with passing. And I took forensic accounting, which became my dream job (which I am doing now). Also, since I struggled to find a job during undergrad recruitment, the MAcc helped me put off job hunting longer. I wouldn't recommend the MAcc to someone who has like 9 credits to go before reaching 150 or has the 150 and is already passing exams. But if someone needs additional credits and additional time/education to pass exams, why not?

[ohiocpacma]

Makes sense…. Again, I'm not saying graduate education is a waste of time (this is coming from a guy taking night classes for an MBA) if your goals are aligned with the program and your career while netting against the costs.

[cpa1234]

@ohiocpacma I completely understand where you and a lot of other people are coming from when they say the MAcc doesn't make sense. But, a good amount of people who have said this to me usually say it because they did not get a MAcc themselves. I don't know if it's to make themselves feel better or to make me feel stupid, but it doesn't come from a good place. I am a huge supporter of the MAcc for the right person in the right situation. And for me it was 100% worth it. Especially since I am in private specialized accounting now, so my bosses can promote that I am almost certified and have a masters degree, and then I get more work. I really push it for people who are in a “hopeless” situation – can't pass exams, can't get a job, or can't get the license due to lack of credits.

[Anonymous]

My personal opinion is that a Masters degree only makes sense a handful of the time. I got my BBA + MSA in 151 hours- I think it makes sense here. However, I would argue that it very rarely makes sense to do if you already meet the educational requirements to sit/be licensed. Sure, there are topics you will cover in the Masters program that will help you on the CPA exam, but it's a very indirect way to go about it.

[Anonymous]

The CPA exam is a mile wide and an inch deep. Every accounting class you take (especially masters level accounting courses) is an inch wide and a mile deep. I know this might be a bit of an exaggeration but be mindful of this when thinking about taking masters level courses. The CPA exam courses (Becker for me) are the best teachers I've ever had. I say this after taking a masters level audit course and then the following two weeks studying audit with Becker before taking AUD. CPA exam courses by far prepare you best for the CPA exams – after all, that's their sole purpose.

[Accounting_is_Taxing]

My Master's degree was mostly just theory, no application. Most assignments were just research papers that dealt with a very specific theory. Luckily with the company I worked for at the time paid for 75% the degree. It was an M.S in Accounting

With that being said, I found that my undergrad studies prepared me more for the CPA exam than my grad studies. If I were you, I definitely would not get myself into a lot of debt for it. It looks good on a resume, and helps you get the required hours for the CPA exam. The review courses will have all the information you need to pass.

[OTK1995]

I had 159 credits (changed majors, minored) and no masters, passed the CPA after several tries and 11 years after getting my undergrad degree. You just need to get your studying down to where you understand what is being taught to you and retain it for your exams. You didn't say how many times you took it but if you cannot afford to renew your Rogers or Becker, perhaps look into Ninja monthly subscription.

If my fossilized self can do it, so can you! Good luck!

[Painted_Jeans]

I personally think Masters makes you more marketable especially for higher positions. I;m almost done with mine and did it because my GI bill paid for it and i wanted to have grad degree for my personal enjoyment. Did i learn a lot? Yes i did. I learned how to build FS and notes, analyze a lot of stuff and do IT audit. A lot of the stuff was pure bs and totally unnecessary but same was my bachelor's. I dont think it helps you all that much with the exam, but it's better than taking 30 credits in music, history, sewing and philosophy IMO and it looks fancy on your resume.

[Author]

Replies