Question

You are on the verge of entering the public accounting profession (or private, governmental, or not-for-profit sectors), a challenging, but rewarding field. While a pivotal skillset in your career will be application of financial accounting research (thank goodness you are in this class!), another critical component of your career success will be earning the CPA license within the first few years of being in the profession.

a. Changes that are currently being discussed with regard to the CPA and what stage said changes are in currently. You should look up articles in The CPA Journal and Journal of Accountancy, as well as visit the NASBA website for information on this.

b. A written plan of your path to CPA licensure, including, but not limited to, 150-hour options, when and how you will take the CPA exam, and what firm (i.e., Mazars, EisnerAmper, etc.) and area (i.e., audit, tax, advisory, etc.) you wish to work in for one year in order to complete the licensure process.

c. In your 10-year career plan, are there any other certifications you would like to earn (i.e., CFE, CIA, CMA, etc.). If so, why? If not, why?

d. If you plan on beginning your career in public accounting, in an ideal world, do you think you would like to stay in public accounting or branch out into other areas, such as accounting education, governmental/not-for-profit accounting, or private accounting?

e. If you do not plan on pursuing your CPA license or beginning your career in public accounting, please describe why this is the case and what your plans are. If you have answered a through d already, this question does not apply to your submission.

Answer 1

Accounting is all about numbers, if you like numbers you will know how to play the game, else numbers will play with you. A Accountant should be able to read numbers. A number is an language which an accountant must have an expertise and relevant experience to read.

a.) Changes that are currently being discussed with regard to the CPA: The scope of work has increased and as well as responsibility and laws are being strict for CPAs. CPAs are personally held liable if any misstatement found in the financial statement due to their negligence.

b.) Opting for a CPA and completing it is a pain and process involves lots of efforts and sacrifices and countless failiures too. After completing CPA, one may opt for Audit, Tax or advisory as per the choice. Now, most of the CPAs are moving towards Advisory as it involves less headache and CPAs can earn more money without certifying any document. Risk gets reduced in Advisory and can earn more money. A CPA can start his/her career in Big 4 and gain relevant experience and can later on set up his/her own practice.

c.) While doing job or in practice, certification courses can be done like i.e., CFE, CIA, CMA, etc.. if you plan to do work relating to it.

d.) Today's World/Industry look for Specialisation in one field. So, A CPA can choose  public accounting or branch out into other areas, such as accounting education, governmental/not-for-profit accounting, or private accounting as per interest.

e.) Earning a CPA license is a Pride for all. After that one may not work in that field is their choice. A world is full of opportunity for smart and hardworking people. CPA is just a degree. Anyone can do anything if he/she belives he/she can do.