Is it worth taking the exam if I'm not in Public Accounting

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  • #162081
    mdrobbin
    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 - 2012 - PASSED (YAEGER)
    AUD - 2012 - PASSED (YAEGER + NINJA NOTES)
    BEC - 2012 - PASSED (YAEGER + NINJA NOTES)
    REG - 2013 - PASSED (YAEGER + NINJA NOTES + NINJA AUDIO)

    ETHICS - 2013 - PASSED

    DONE!!! Thank you A71 for all the support! Hiya!!!

Viewing 6 replies - 1 through 6 (of 6 total)
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  • #302770

    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"

    #302771
    Anonymous
    Inactive

    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.

    #302772
    mla1169
    Participant

    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

    Massachusetts CPA (non reporting) since 3/12.

    #302773
    Marivy22
    Participant

    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 šŸ˜‰

    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……….

    Done šŸ˜‰
    Class of 2012!!!!
    Lots of prayers and hard work....

    #302774
    mdrobbin
    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 - 2012 - PASSED (YAEGER)
    AUD - 2012 - PASSED (YAEGER + NINJA NOTES)
    BEC - 2012 - PASSED (YAEGER + NINJA NOTES)
    REG - 2013 - PASSED (YAEGER + NINJA NOTES + NINJA AUDIO)

    ETHICS - 2013 - PASSED

    DONE!!! Thank you A71 for all the support! Hiya!!!

    #302775

    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"

Viewing 6 replies - 1 through 6 (of 6 total)
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