1. 

   Skooby
   

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   Hello.

   First, I know they have changed the format of both the CPA and CMA for 2011. Anyone know if the new formats will be more or less rigorous?

   I'm currently an accounting major. I'll be done with my degree in December. I'll be eligible to take the CPA after i'm done with undergrad because I have an associates in Computer Information Systems that I got 10 years ago(I'm 32 years old btw). So I'm over the 150 credits plus the 24 in accounting and 24 in business admin (Indiana requirements).

   Currently I work with the Department of Defense at a sub-agency called DFAS. I plan to stay somewhere within the federal government and retire. I'm not necassarly looking to be an accountant but just work in the financial sector. But I want to be taken seriously so I want a cerfitication. I'm going to get the CGFM (Certified Government Financial Manager) but the CMA or CPA would be considered a higher certification so I want one of those first.

   Although I've done well so far in my accounting courses (at least a B in all i've taken so far), I feel like I still don't know much about accounting. I feel like I just passed the classes and didn't learn much material. I don't want to start the CPA and be out of my league. My school is not AACSB accrediated (Indiana Tech). Plus my classes are accelared (5 & 10 weeks) (Intermediate 1 & 2 and Advanced 1 & 2 are 10 weeks) so I don't think i'm getting all the information. I started my Advanced 1 class yesterday.

   I choose Accounting as an undgergrad because I figured it could be a gateway degree to all financial jobs (including an accountant) whereas Bus. Management or Finance could not be.

   Any advice on what I should do?

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   Posted 2 years ago #
2. 

   Schus
   

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   That's cool, I interviewed at DFAS for an internship a few years ago. But anyways, for reference I recently graduated from Purdue with a BS in accounting and Computer Information Technology. I work at a larger public firm in the indy area. My job offer got pushed back because of the economy but that allowed me to take all the exams before I started (which helped greatly). So with that perspective, studying for and taking the CPA exams was the hardest academic thing I've ever done. So you have to ask yourself "what is the benefit?" and does that benefit outweigh the the stress and effort that will be put into taking and passing these exams?

   I'd recommend asking your supervisor or another manager or CPA over there (that's a huge building btw, I honestly don't know how you find your way around in there) about the benefits of being a CPA over CGFM or any other certifications and go from there.

   As far as CMA is concerned, I have no experience with it so I couldn't tell you but maybe someone else could.

   AUD 81 - BEC 89 - FAR 82 - REG 86

   Posted 2 years ago #
3. 

   Jeff - another71.com
   

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   I'm not sure about the CMA, but the new CPA format could prove more challenging because currently, candidates only have to know GAAP. In 2011, they will have to be "bi-lingual" - a term that the AICPA used in a meeting I attended.

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   Posted 2 years ago #
4. 

   Bobbins
   

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   Scooby I think it is a great idea to get your CPA. I'm not sure about any of the other designations, it might be a good idea to talk with a supervisor like Schus mentioned above.

   As for feeling like you haven't learned accounting, I totally know how you feel. I was a mostly A student throughout college, especially in my Accounting courses. But I have always been able to get good grades without really studying a lot or really memorizing the material. So I figured when I started studying for the CPA I would have to re-learn a lot of stuff. I was wrong. You will be surprised by how much comes back to you when you start studying those CPA materials! Just being exposed to accounting concepts before is a huge boost when trying to study for the beast that is the CPA exam.

   I would add that Accounting courses and the CPA exam are really just ensuring that you are intelligent enough to do accounting work. Accounting rules, regulations, etc. change so often that no one person every really memorizes everything. If you do well in Accounting courses you can pass the CPA, and once you pass the CPA you have proved yourself capable of being an accountant. The learning will never really stop for an accountant anyways.

   AUD - 85 (7/24/09) BEC - 90 (8/31/09) REG - 86 (11/16/09) FAR - 82 (05/11/10) *I'm a CPA!!!

   Posted 2 years ago #
5. 

   Lee_IN
   

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   Skooby - Look me up tomorrow at work x2234. I work for DFAS as an accountant. I just finished the CPA exam wave 1 of this past window. I can probably answer any question you have and if not we can always ask everyone on another71.com. Look forward to talking to you tomorrow.

   Becker - FAR 80, AUD 73, 81, BEC 76, REG 81 (2010) DONE!!!! IN LICENSED CPA

   Posted 2 years ago #

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