Should I go for a Master degree

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  • #188723
    Anonymous
    Inactive

    Hi, I currently have an undergraduate degree for accounting 150 credits that allow me to sit for the CPA. But I would like to go for my MS or MBA, is it a waste of time to go for accounting major or I should go for another major? thanks

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  • #608506
    ShelahV
    Member

    I got an MPA (Masters of Professional Accountancy) when I decided to switch careers about 4 years ago. You may want to consider that. My master's course was basically geared towards getting the required components to sit for the exam (SD). I had a business income tax class, auditing, nonprofit/government, a class that was basically a FAR reveiw course (Bisk), Advanced Accounting, Cost/Theory class plus 3 elective grad classes and then either another class, internship or thesis. I'm studying for FAR right now and I'm finding much of the material familiar – I still have to study but it's sure helping that I've seen most of the info before.

    Plus I figure my MPA plus a CPA will definately help me advance within my company.

    BEC 8.14.14 - 87!
    FAR 1.8.15 - 89!
    REG 4.15.15 - 86!
    AUD 7.2.15 - 90!

    Application submitted 8.6.15
    Licensed CPA 8.19.15

    Benefit in living in a small state SD!

    #608507
    ala72
    Participant

    I completed my Masters in Accounting this past May. It is definitely helpful when it comes to exam content. However, I wish I had considered a Masters in Taxation instead. Given the nature of my work, a Masters in Taxation would have been more helpful but it won't translate to other career paths as well either. So I guess it was a tradeoff

    Licensed NH CPA as of July 2015

    AUD - 74 (Oct '13), 84 (Jan '14)
    FAR - 79 (Feb '14)
    REG - 61 (May '13), 81 (Aug '14)
    BEC - 79 (Nov '14)

    #608508

    I earned my MS in Accounting with Finance concentration. This included courses of 6 Accounting, 3 Finance and 1 elective (Management). As ala72 mentions, it covers a lot of topics from CPA exam. I wished I went for the Tax concentration instead, since I like Tax. However, I work in the Financial Service industry, so.. meh. The MBA won't help you as much for CPA Exam preparation but it may yield better job prospects along with CPA. If you really like school, go for the Masters in Accounting first, then CPA and MBA while working. I would go for my MBA but I want to enjoy life after the CPA. I sacrificed enough of my youth. I need to make up for it, lol.

    F: Apr 14' Passed
    A: May 14' Passed
    R: Jul 14' Passed
    B: Aug 14' Rematch in Oct *Passed*

    #608509

    I'm also thinking about getting my MS just to meet 150 hr rqmnt (NC only requires accounting degree to sit) but If your considering only to prep for CPA it would be a waste of money. I'm just about done these tests and a prep course + undergrad was more then sufficient to pass. Does having an MS increase your appeal if your job hunting and you are alrdy a CPA?? What do you learn in accounting MS classes that CPA doesn't cover?

    A - 89 10/23/2014
    R - 90 2/27/2014
    F - 75 5/25/2014
    B - 83 8/28/2014

    #608510
    thechapman
    Member

    While some people may say that a masters degree in accounting is worthless after you get your CPA license, I believe that it played a big part in helping me pass the exams I've taken so far. It was worth it just for that in my opinion.

    Passed - 2014

    #608511
    mla1169
    Participant

    I have a masters in accounting, but I chose that before I decided to do the CPA. From a ROI standpoint it's kind of worthless ( masters won't give you much of an edge over competition for jobs with CPA and 150 credits). Honestly I'd ONLY do it if it's on someone else's dime.

    FAR- 77
    AUD -49, 71, 84
    REG -56,75!
    BEC -75

    Massachusetts CPA (non reporting) since 3/12.

    #608512
    tomq04
    Participant

    I've got a masters degree in drinking beer, bs'ing, and having a good time. Strangely enough it was all included in my undergrad, gratis.

    REG- (1) 76
    FAR- (2) 64, (5)74, (7)83 (Over achiever!)
    AUD- (3) 70, (4) 75
    BEC- (6) 75

    #608513

    @aspirekid, I am on the same boat as you, I currently have 150 credits with a bachelors degree and just graduated this past may. I say wait on getting your masters until you are working for a couple of years. Some companies offer to pay part or all of your tuition. Plus if you have all 150 credits for the exam you don't really need a masters degree until your promotion to manager or a higher position, which if your just starting out like me could take a few years. As you can see from my signature this exam is fully passable without the knowledge that comes from a masters program, you just have to put in the work. My suggestion to you would be to focus on passing the CPA exam, work a couple of years in either public or private, and then go for your masters degree. This way you can get a head start on your career, and you will probably same some money in the process.

    REG-79(7/14)

    BEC-76(7/14)

    AUD-88(02/15)

    FAR-73(10/14), Waiting on score 02/24/15

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