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I don't know anything about the UCLA program, but I kind of did what it sounds like their program is on my own. My undergrad is in finance, but I only took the bare minimum accounting classes when I got my degree. I worked in the mortgage industry for years & then decided I really wanted to do more accounting work. I took accounting 101 again in the evenings while I was still working, decided I really did want to go for it, quit my job & went back to school full-time for a year & a half. It was all accounting classes, all the time. With nothing else to break it up like a history or psych class, it was more intense & felt like I was burning out more than with my undergrad. But I got through it, sat for the CPA exam & passed all four parts on my first try (this was 6 years ago, back in the days of pencil & paper when you had to take all four parts at once). I actually work in a finance/accounting job now, but I know having the CPA designation has gotten me a lot more job interviews than other people I know who don't have one, so it was totally worth it for me.
Even accountants don't make that much money. The real money and best opportunity for advancement is in being a CPA (Certified Public Accountant), which most states control through licensing and testing and which typically requires a 4-year degree in accounting, not a degree in underwater basket weaving and an accounting certificate.
Actually, most states do not require a "degree in accounting". Most states simply require a bachelors degree and an acceptable number of higher education credit hours in accounting and/or finance/general business.
So, yeah, you can typically qualify in most states to sit for the CPA with a degree in underwater basket weaving and an accounting certificate, assuming that the certificate provides you with enough accredited hours to meet the educational requirements.
In general though, a CPA is not worth it in most states unless you can ensure a decent paying position that will compensate you for the CE requirements.
Oh yeah, if you didnt know, about 90% of states require you to get something called CE credits. You get these by attending seminars and taking classes, which can come to thousands of dollars. You need, in most states, between 30-60 of these a year to maintain your CPA. The rate for a CE credit is about $200 per 1/2-1 credit, so you can do the math on that one.
There is almost no license nearly as tedious, with such a low financial reward.
Yes that is true. You'll start at 10/hr but what most don't understand is that the experience is worth something. If you work at a fast food joint, you won't go anywhere with that. With the bookkeeping experience at least it can be marketed. You have to look at the long term and work your way up. However yes it is true the real money is made in being a CPA but what you have to understand is that the CPA exam is no easy test. You really have to put in hundreds of hours preparing and studying. That is why CPAs get paid so much, the exam is HARD. Not everyone can pass it on a whim. I know, I am preparing for it now. I think I read that the failure rate was north of 50%. The fact of the matter is that most people who start college with the idea that they will get their CPA don't even get close to ever achieving it.
Thats funny, because the three CPAs Ive known, all said the CPA test was easy.
Location: Stuck on the East Coast, hoping to head West
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Originally Posted by Randomdude
Actually, most states do not require a "degree in accounting". Most states simply require a bachelors degree and an acceptable number of higher education credit hours in accounting and/or finance/general business.
So, yeah, you can typically qualify in most states to sit for the CPA with a degree in underwater basket weaving and an accounting certificate, assuming that the certificate provides you with enough accredited hours to meet the educational requirements.
In general though, a CPA is not worth it in most states unless you can ensure a decent paying position that will compensate you for the CE requirements.
Oh yeah, if you didnt know, about 90% of states require you to get something called CE credits. You get these by attending seminars and taking classes, which can come to thousands of dollars. You need, in most states, between 30-60 of these a year to maintain your CPA. The rate for a CE credit is about $200 per 1/2-1 credit, so you can do the math on that one.
There is almost no license nearly as tedious, with such a low financial reward.
But you don't have to maintain CPA licensure (unless you're doing public accounting). The great paying jobs are in private industry and passing the exam gives you an advantage over those who haven't passed it.
But you don't have to maintain CPA licensure (unless you're doing public accounting). The great paying jobs are in private industry and passing the exam gives you an advantage over those who haven't passed it.
Do you honestly think a private sector job is going to hire you for your CPA qualifications, and be ok with you letting it lapse? If you can find that job, give me a buzz.
Do you honestly think a private sector job is going to hire you for your CPA qualifications, and be ok with you letting it lapse? If you can find that job, give me a buzz.
Yeah actually it does work that way. Really, any of those alpabets beside your name is a resume attention grabber. If you had a choice between a CPA and a non-CPA you would of course hire the CPA. After that, well, it's up to you the employee on if you want to take the required courses to maintain certifications. The employee would be wise to keep his certification current because nowadays there is no telling how long you will have one job before you move on to another, and use that alphabet on your resume again.
For most employers, except for maybe a public accounting firm where the CPA's you have on your payroll become a selling point to your client, they can care less if you maintain that certification. In contrast, they may not want to shell out for continuing education or have your CPA used as a recruiting ground for competing employers.
For most employers, except for maybe a public accounting firm where the CPA's you have on your payroll become a selling point to your client, they can care less if you maintain that certification. In contrast, they may not want to shell out for continuing education or have your CPA used as a recruiting ground for competing employers.
I have worked for nothing but corporate companies, and from my experience, the companies were adament about the maintanence of the CPA license.
It is useful to be able to claim that certification when dealing with taxing authorities or high level personel of business partners/vendors.
Sure, if you are using that CPA holder as some mid level staff accountant, that has no visibility externally, who cares. However, generally, CPAs carry senior accountant designations of better in the corporate world, and they are often in VP, CFO or management positions which constantly have external contact.
After all, if they could care less about the CPA, it wouldnt be a requirement for hiring.
I have worked for nothing but corporate companies, and from my experience, the companies were adament about the maintanence of the CPA license.
It is useful to be able to claim that certification when dealing with taxing authorities or high level personel of business partners/vendors.
Sure, if you are using that CPA holder as some mid level staff accountant, that has no visibility externally, who cares. However, generally, CPAs carry senior accountant designations of better in the corporate world, and they are often in VP, CFO or management positions which constantly have external contact.
After all, if they could care less about the CPA, it wouldnt be a requirement for hiring.
Some do, particularly after the implementation of SOx. Sarbenes Oxley section 404 requires "an educated financial staff" so companies might be using that as a reason to insist on CPA current status. My company doesn't go that far, we have our own internal training on GAAP and IFRS (which, incidently, could be used to support the "continuing education" requirements) but they don't track certification.
i have a question. What if I already have BA in Psychology and want to get Accounting Certificate which consists of 28 credit. Is that possible to find a job in this area after?
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