U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-19-2009, 09:22 PM
 
Location: New York, NY
178 posts, read 332,359 times
Reputation: 172

Advertisements

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.
Reply With Quote Quick reply to this message

 
Old 04-20-2009, 08:29 AM
 
Location: Virginia Beach, VA
5,517 posts, read 9,215,569 times
Reputation: 2542
Quote:
Originally Posted by Mircea View Post
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.
Reply With Quote Quick reply to this message
 
Old 04-20-2009, 08:33 AM
 
Location: Virginia Beach, VA
5,517 posts, read 9,215,569 times
Reputation: 2542
Quote:
Originally Posted by killer2021 View Post



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.
Reply With Quote Quick reply to this message
 
Old 04-20-2009, 10:41 AM
 
Location: Stuck on the East Coast, hoping to head West
4,111 posts, read 9,711,834 times
Reputation: 8425
Quote:
Originally Posted by Randomdude View Post
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.
Reply With Quote Quick reply to this message
 
Old 04-20-2009, 10:54 AM
 
Location: Virginia Beach, VA
5,517 posts, read 9,215,569 times
Reputation: 2542
Quote:
Originally Posted by bande1102 View Post
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.
Reply With Quote Quick reply to this message
 
Old 04-20-2009, 02:11 PM
 
13,059 posts, read 19,245,751 times
Reputation: 21413
Quote:
Originally Posted by Randomdude View Post
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.
Reply With Quote Quick reply to this message
 
Old 04-20-2009, 02:34 PM
 
Location: Virginia Beach, VA
5,517 posts, read 9,215,569 times
Reputation: 2542
Quote:
Originally Posted by Dd714 View Post
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.
Reply With Quote Quick reply to this message
 
Old 04-20-2009, 02:39 PM
 
13,059 posts, read 19,245,751 times
Reputation: 21413
Quote:
Originally Posted by Randomdude View Post
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.
Reply With Quote Quick reply to this message
 
Old 06-20-2011, 07:46 PM
 
1 posts, read 1,511 times
Reputation: 10
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?
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 05:49 PM.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top