1. 

   mdrobbin
   

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   Member

   I live in Illinois and was about to start studying for the CPA Exam in the next couple months. As I am researching the Illinois regulations, I just learned that in the near future they will stop issuing CPA certificates, only licenses which require experience in public accounting.

   I have about 3 years of experience as a financial analyst in a corporate environment. I have always considered obtaining my CPA a significant goal as it adds to my credentials within my own company, helps me stand out should I choose a different career path, and boosts my working knowledge of the day to day accounting functions I perform in my current job (managing capital assets/depreciation schedules, balance sheet account reconciliations, etc).

   If I am no longer able to call myself a CPA, is it worth putting myself through the exam? Does anyone else that works in corporate finance have any insight into a similar situation? I greatly appreciate any feedback.

   Thanks,
   Mike

   FAR - 2/22/2012 - PASS (YAEGER)
   AUD - 5/25/2012
   REG - Aug, 2012?
   BEC - Nov, 2012?

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   Posted 7 months ago #
2. 

   gottagetmycpa
   

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   why can't you become licensed in another state?

   FAR 76
   REG 76(2x)
   BEC FAILED (2x)
   AUD FAILED (2x)
   
   "When you don't give up, YOU CANNOT FAIL"

   Posted 7 months ago #
3. 

   asleephere
   

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   It might depend on the company. I have not working in public acctg for 5+ years and I was still pushed to pass the exam to move up. However, I do have the public experience needed to be licensed. Our current Accounting Manager passed the exam years ago but never had the experience required to be licensed. Yet, he wouldn't be in his current position if he wouldn't have at least passed it, regardless of licensing or not.

   MN - DONE!!!
   FAR 82 - Nov '10 | REG 71 - Feb '11, 84 - May '11
   AUD (82 - 2006) 85 - Apr '11 | BEC (73 - 2006) 87 - Aug '11
   Ethics - 95

   Posted 7 months ago #
4. 

   mla1169
   

   online

   Member

   IMHO, the CPA is worth having. If I were you I'd do a little more research into whether they will definately stop issuing certificates, when, and if people who already hold certificates will be grandfathered. It may not even affect you.

   FAR- 77
   AUD -49, 71, 84
   REG -56,75!
   BEC -75
   
   If I can do this, YOU can do this! Hang in there :)

   Posted 7 months ago #
5. 

   Marivy22
   

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   I think it is always worth it. I have had 3 jobs in 3 years because of the global economy. I have been lucky enough to find jobs quickly, but I know the CPA would have given me better opportunities or another level. I am a financial analyst, and I just started my journey to become a CPA............I am 31 now, looking back, as many of us, I should have done this yeeeears ago, when I was living with my parents ;)
   You can also check other certifications CFM or something like that, but the CPA are the 3 magic letters...........
   BTW, this requires a lot of commitment, so make sure that you want to do this before starting..........

   AUD – 8/15/11 79!!!!
   FAR – 11/7/11 74 1/16/12 81!!!! Thanks GOD!!!!
   BEC – 2/19/12 80!!!
   REG - 4/29/12 70 :(

   Posted 7 months ago #
6. 

   mdrobbin
   

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   Member

   Thanks to all for your input. @gottagetmycpa, I live in Illinois, so if I were to get a certificate from another state, I don't think I can call myself a CPA. Let me know if that is not correct.

   FAR - 2/22/2012 - PASS (YAEGER)
   AUD - 5/25/2012
   REG - Aug, 2012?
   BEC - Nov, 2012?

   Posted 7 months ago #
7. 

   gottagetmycpa
   

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   Member

   That is not correct. I am getting license in CA but plan to move in MD within a year. My choices are have my license transferred to a MD license ( some states have an easy transfer process I suggest you check which states are compatible are with Illinois. I believe the program is called convergence or something like that) or keep my CA license as is while in MD. My plan is option 2 unless I am going to open up my own CPA firm. If you are just trying to be a CFO or controller I doubt that employer will require you to transfer your license to Illinois to get the job. There are tons of people whom get license out the state they reside due to requirements. I would look at your options. CA offers license with one year of general experience and 150 semester hours. You are still a CPA but you cannot sign attest reports. which is fine by me because I don't plan on working in public accounting. Hope this helps.

   FAR 76
   REG 76(2x)
   BEC FAILED (2x)
   AUD FAILED (2x)
   
   "When you don't give up, YOU CANNOT FAIL"

   Posted 7 months ago #

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