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I am debating whether I should apply to Master of Accountancy or MBA concentration in Accounting. I am not really into Accounting major but don't want to ignore the fact that there are a lot of jobs in the accounting field. I want to get into MBA school, but it won't be within top 50 in the States. Once, I was told that if you can’t get into the Top 50 MBA, it's better to study for a specific major in Master Program. Therefore, I am thinking of applying to MBA School with Accounting concentration.
So my question is "do you suggest that I should go into MAC or MBA with Accounting emphasis?" And also, if I were to take CPA exam, accounting courses that are offered by MBA program would be enough to prepare for CPA exam?
Check your state's regs regarding what you need to test for the CPA. In my state, you need 150 credits(including 24 in undergraduate accounting classes and 14 in graduate accounting classes), so an MBA with an concentration in accounting would be enough to allow you to test as long as the credit requirement was fufilled.
Education is oen thing, career path is another. In Chicago the program run by the University of Illinois is really THE thing for a large number of firms that have both large in house tax staffs and the accounting / consultanting firms: MSTAX > Program > Corporate Sponsors
You have to understand that this is not just a way to get a good a job, this is a very distinct path that in some ways is more like a decision to move into IT or other specialized field.
Once upon a time companies were eager to take freshly minted MBAs and put them in a training program that might result in them having a shot at upper level jobs. That generally only happens for those coming out of Top Tier MBA programs, and with the collapse of the IB path that is going to be tough on even Top Tier grads.
If you have solid business experience an MBA can be a very different kind of thing, that moves one up in comparision to peers who may be seeking paths of advancement.
There are other ways to have a shot at big money. The MSCF Program : Tepper School of Business
IIT Stuart | MS Financial Markets (http://www.stuart.iit.edu/cfm/index.shtml - broken link)
Get your CPA before you even go to grad school. Also get a real accounting job before you even go to grad school!!!!!!!
It goes like this:
BA in accounting--)CPA---)Good accounting job---)MBA/macc if it advances your career.
Employers will start to wonder why you didn't get an accounting job after your BA in accounting. Experience is just as important as education if not more important!
It sounds like to make a good use out of MBA School; you need to get into top tier schools!
First of all, I will more info about myself. I already graduated with Management Information System with GPA of 2.9. I've been working in non-related MIS field. Now, I am trying to choose the right program which will help me to get a solid job. I am more of a creative guy and like to take and combine a variety of knowledge to look at the world differently so I am more toward marketing and management.
I want to go into MBA but, as I mentioned before since it would be hard for me to get into top tier schools, I am considering either MAC or MBA with Accounting concentration. Knowing the job market in the accounting field is good, I am thinking of applying to MBA School with Accounting concentration.
Questions:
1. What kind of job do people with MBA concentration in accounting get? Do they end up talking CPA?
2. Do you suggest that I should go into MAC or MBA with Accounting emphasis?
3. If I went to MBA with concentration in Accounting and decided to take CPA exam, accounting courses offered by MBA program would be enough to prepare for CPA exam?
^A lot of states require(or soon will) grad. school to sit for the CPA exam.
First time I've heard that one.
Quote:
1. What kind of job do people with MBA concentration in accounting get? Do they end up talking CPA?
CPA isn't required to be an accountant but any accounting job worth taking will require a CPA. Get the CPA it is the MOST important thing if you ask me! It basically says you know what you are doing.
Quote:
2. Do you suggest that I should go into MAC or MBA with Accounting emphasis?
Which ever one advances your career the most
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3. If I went to MBA with concentration in Accounting and decided to take CPA exam, accounting courses offered by MBA program would be enough to prepare for CPA exam?
No. You need to specifically study for it and you need to study hard. It isn't just, take a couple college classes and wing the exam. The CPA exam is VERY DIFFICULT. Last I heard the pass rate was only 45%. Of course you can retake the failed portions but still. Just goes to show you need to really study for the exam. Go to the library and look at the Becker CPA review book, you'll see the material is rather difficult.
Suggest you do the MBA while getting the CPA certification (it will help a lot). Look at Federal government positions, there are many excellent jobs available for qualified people.
Does everybody think it's important to pass the CPA exam before going to grad school? I've heard that the CPA exam is really tough and that candidates with a Master's in Accountancy are more likely to pass.
The MACCT was introduced so students could meet the 150 credit requirement to sit for the CPA since a typical bachelor degree only requires 120. No one will care if you have a MACCT after you pass the CPA, but the extra coursework will make the exam more manageable.
MBA with a CPA will make you the most marketable, however; I wouldn't recommend doing both at once unless you are extremely dedicated and place little to no value on leisure time.
A CPA will do the most for your career if you wish to pursue an accounting related field, but it won't do much for you if you hate accounting (not to mention that it will make studying that much harder). MBAs tend to hold little weight until you have some experience under your belt.
So, unfortunately, there is no clear best path since all have pros and cons.
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First of all, thank you all for your advices!
