(Closed) Accounting/ Finance Bees, do you have an advanced certification?

posted 6 years ago in Career
Post # 4
Member
1562 posts
Bumble bee
  • Wedding: November 2011

If you don’t feel that a CMA will be beneficial to you career wise, then don’t go for it.  Having to explain to some people what the degree is might be a drag, but the CMA might make you more desireable in certain firms.  

I have my BS in accounting and business administration, and now I’m at a SUNY university going for my MBA so I can get my CPA.  I want to be a CPA, so it’s beneficial for me, but I’ll be focusing on tax.  i agree with your statement about the MBA starting vs. furthuring a career – at my college, its almost all 5 year students, so I’m one of the odd returning students.

Post # 6
Member
11325 posts
Sugar Beekeeper
  • Wedding: February 2011

I’m not but my husband is a corporate accountant. He got a bachelor’s in accounting and got a job working for a big company in the investment account department. Everything has been fine for his current job but he is quickly hitting a ceiling on advancement opportunities (well, he has been there for 6 years and has 1 more promotion before he is absolutely stuck without more education). He just went back to school to get his MBA because that is what he needs to get into management. He also considered getting his CFA so he could go into front office work but ultimately decided that an MBA was a better fit for his ambitions. 

Post # 7
Member
27 posts
Newbee
  • Wedding: October 2012

Well I can definitely give you my opinion. When I got my bachelor’s I received my degree with a major in Marketing and minor in Accounting. A couple of years later i started working with a CPA that handles a lot of clients and my interests in Accounting peaked and i decided to go for my Master’s. I just graduated in June and plan to take my CPA exam at the beginning of 2013. I think that such a technical career required advanced education. Yet I think that anyone can study and pass and exam and not really be a great accountant. I can honestly say that I am good at accounting and love accounting and definiltey want to make and life long career out of it, but i think that if you are doubting yourself you should think about it a little more. I dont think you should dig yourself in too deep and later realize that you really dont like it. 

 

Now between a CMA and CPA i would definetly consider the CPA it emcopasses everthing and you get the validation that comes with the title. A CMA is great if you really like managerial accounting and cost accounting and think you can use it. 

 

I wish you all the best in your decision. It took me a long time to decide to go all the way, I am up to my chin in debt but don’t regret it because I know it will pay off. Remember that accounting is a recession proof career so we will always have jobs.

On another note, with a CPA you dont necessarily have to go into public accounting. You can do ANYTHING you want, including everthing that a CMA does. You dont necesarily have to Audit. I HATE auditing with a passion and decided to go the financial and tax route. 

Post # 8
Member
1562 posts
Bumble bee
  • Wedding: November 2011

@Lacelibs:  I LOVE tax.  I had a tax internship when I was going for my AS, and then spent a season at H&R, and then with VITA.  In both of my “real” jobs, I did taxes year round for insurance companies.  To me, it’s a puzzle that I love to solve 🙂

Post # 9
Member
3303 posts
Sugar bee

Great infomation in this thread! I am finishing up my last 13 classes (taking 5 right now) and trying to figure out my next direction. I love the advice given!

Post # 10
Member
3303 posts
Sugar bee

Oh and I love tax also LOL! I want to head in the direction of being a tax attorney after I sit for the CPA… so much more schooling but so beneficial~!

Post # 11
Member
2065 posts
Buzzing bee
  • Wedding: December 2011

I have a BS in Finance and MS in accounting (I just went ahead and got the masters since I needed so many additional upper level accounting hours for the CPA exam).

Becoming a CPA doesn’t necessarily have to be about working for the Big 4 companies. You can go into private accounting and do taxes and reviewed statements for smaller, private companies and the CPA designation helps you that much more. That’s my ultimate end goal, along with possibly opening up my own practice some day (in the far future). I’ve worked for a small business for the last 5 years and our external CPA is a great guy and has given me lots of great advice for going the non-Big 4 route.

I’m in the middle of sitting for the CPA exam. I’ve passed 2 of the 4 tests so far (Audit and Financial on the first try each time, woooo!) and hope to have the next two passed by spring of next year. It’s freaking hard work, so if you’re going to do it, you’ve got to put a lot of effort (and money…the Becker review course alone was nearly $4K) into it. Definitely take time and make sure it’s what you want, because it’s quite a process!

Post # 12
Member
998 posts
Busy bee
  • Wedding: November 1999

I work in contract auditing. Have my bachelors in accounting and my MBA. I am about to get my CFE which I eventually want to use to work in fraud. My plan my entire life has been to get my CPA, but I keep pushing it off and pushing it off and boy does is it hard to motivate yourself to get back into “study” mode. 

Post # 13
Member
998 posts
Busy bee
  • Wedding: November 1999

@misspeanut:  OMG!! First time good for you!! Take it for me now please!!!

Post # 14
Member
2065 posts
Buzzing bee
  • Wedding: December 2011

@OtterHalf:  Oh trust me it was a shock! I took a year off between my masters and starting to study so I was sure I was going to fail. I took Audit first and got an 87 and damn fell over – I called my husband screaming and he thought I was in a wreck or something. I was SO SURE I failed Financial a few months later, but I ended up with an 82. Becker may be expensive, but holy crap it works! I’m studying for Regulation right now, and I don’t think I’ll be passing that one right off – I’ve always been terrible at memorizing tax laws and business law/contract type stuff.

Post # 16
Member
2065 posts
Buzzing bee
  • Wedding: December 2011

@Lacelibs:  Self-study. I work full time and like to see my husband occasionally, so I knew there was no way I could devote the time and energy to their live class schedules. I do one lesson a week instead of the 2-3 they do in a live class. Sure, it’s taking me longer to go through the whole thing, but I have more time to really learn the concepts and I think it’s contributed to my passing grades so far. My employer wouldn’t reimburse for the course, but Becker itself offers 18 month, 0% financing to anyone that applies, so it was a good enough deal for me to take it.

And seriously, take all the time you need to make your decision. I finished grad school in December 2010 and didn’t start the review course until March 2012 and I’m doing perfectly fine. If you decide to go for the CPA certification, the material all comes back to you once you start studying!

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