L
offlineMember
Has anyone obtained their CPA prior to finishing their Macc? And did you go back to finish your Macc?
I did 15 credits (about 50%) of a Macc program to get to 150 semester hours.
I am not sure if I will finish the Macc program. I do not see any added value.
Your thoughts?
CapitalGains
offlineMember
It's probably not worth the cost, unless you have free tuition and aren't currently working for a public firm. The latest published salary statistics from my university (Ohio State) indicated that an individual with a MAcc earned around $3,000 more starting out than someone with a Bachelor's in Accounting. Whether or not that's worth it is your call. However, the CPA is the anchor to advancement, not the MAcc. I'm not sure if this forthcoming statement is accurate, but I believe the original purpose of the MAcc was for CPA eligibility. If you are eligible to test for the exam and confident you can pass with a Bachelor's (i.e. you came from a strong accounting program at a renown school) then the MAcc probably isn't worth it.
Jeff - another71.com
offlineadmin
I have 10 hours toward a 30 hour MAcc. Will I be going back to complete now that I'm a CPA? No I will not :)
weed74
offlineMember
I am not finished with the CPA exam yet but have my Macc. No one seems to care about the Macc. If it is possible, I would pursue the MBA. It seems to hold more prestige. Although, at my college the Macc program is harder to be admitted to and the only difference is 3 classes. Kind of a joke really...I do not get paid more for having my masters. I have probably helped you very litte, but good luck with your choice.
CPAorBust
offlineMember
I also have a question about my Master's program.
I have an undergrad in Accounting and have met the 150 credit hour minimum. However, I did not apply myself in school. I graduated with a 2.9 and now work in Governmental Accounting.
I plan to sit for my CPA in Indiana. My question is should I attend grad school first? I have been accepted into a Masters of Accountancy program. My work will reimburse most of it and it will take me approximately 18 months.
Although I have my 150, I feel that in order to be hired into public accounting, I need to prove academic excellence. However, I am wondering if I should just prepare and pass the CPA or should I get my MSA first and use that as a foundation to prepare and pass the exam?
Most public accounting firms have a minimum GPA of at least 3.0 to interview (understandably). Does undergrad GPA still matter when applying with 2 years work experience and after passing the exam?
Patrick909
offlineMember
I pretty much had to finish my M.acc. before taking the CPA exam.....it was the only way to get the necessary credits.
Think it's really unfair that MBA seems to hold more prestige....what's the difference, a few BS Management and Marketing courses? Those classes and their silly group projects make me want to gouge my eyes out.
I do like having a Masters degree, though. And in my case, I did get paid more because of it, even though I definitely don't "need it" for my job. Also, I don't feel the need to talk about my mediocre 2.92 undergrad GPA anymore, since I pulled a 3.9+ in grad school. I think I'll use that one, thank you very much.
CPAorBust,
My $.02 worth is if you have not been out of college long, I would go with take the exam over doing your Masters. I only took my Masters to get the 150 hours but it did help in refreshing since I received my undergrad in 1990 which was a Computer Science major with an Accounting minor. I really do not see any value in getting your Masters just to prove your academic excellence or for preparation for the exam.
Having said this, I do not work in public accounting. I work as an accountant for the Department of Defense and have no knowledge of the public accounting hiring practices.
Just a note from personal experience, I would not try to do both get your Masters and the CPA exam unless you have no social life, no family or no job. The first time I took AUD, I was finishing my last Masters class and failed even though I had no social life but I do have a family and a full time job.
By the way, where are you from in Indiana. I am in Indy.
CPAorBust
offlineMember
Lee,
Thanks for the response. I just finished my undergrad in August, so the material is still fresh. However, because I wasn't a very good student, I will probably have to work a little harder on concepts than the average accounting graduate. I definitely didn't plan on doing both CPA and MSA at the same time. It sounds like it will be hard enough with just one of those tasks. I work full time, but am a government employee so full time is only 37.5 hrs/week. I am not strictly interested in public accounting, but it seems like a good place to start. My true interest lies in forensic accounting, ie investigating corporate fraud on behalf of a government agency (FBI, IRS, etc). I am also in Indy. I looked into DFAS, but also hit a wall due to my GPA (understandably, but I did work full time during school and am a well rounded graduate). My main goal with grad school was to get a new GPA on the books. But it sounds like achieving a CPA and getting a little experience would also do the trick. Thanks again for the response and sorry if I hijacked the thread.
Jeff - another71.com
offlineadmin
CPAorBust - you didn't hijack the thread...thanks for your insights
glutenator
offlineMember
I did no accounting in undergrad, just some economics, statistics, etc. which helped towards the 150 credit requirement. I did an MBA in Accounting, and still came up short 5 classes, which I then took "at-large" through University of Phoenix. So, with my 128 credits undergrad, 33 credits of Masters in Criminal Justice (which I never completed since I didn't write my thesis), 45 credits MBA in accounting, and 15 more credits after the fact, I now have enough credits for 2 people! But I did learn a lot, and work paid for a lot of my schooling (MBA and at-large credits).
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