<p>So I'm a sophomore in college, and I'm about a year ahead so I've been planning on getting a degree in both finance and accounting in order to get the 150 hours needed to sit for the CPA. I just talked to my advisor though, and she said there's a law that will be effective in July 2013 (about a month after I graduate) that says you need to have a Masters in Accountancy in order to sit for the CPA. Does anybody know more about this or if there's any possible way around it?</p>
<p>I have never heard of that rule, but be aware that every state has different requirements. The MSA one seems inaccurate and way too restrictive. That would eliminate a lot of people from getting an MST (Tax). You might want to do a little more research on that.</p>
<p>Go to your state public accountancy board’s website.</p>
<p>According to the AICPA website… only 150 hours are required… not a masters… Check out your states requirements… Also note there are some states that have NO experience and NO residency requirements… I believe Colorado is among the most liberal with their requirements.</p>
<p>[150</a> Hour Requirement](<a href=“http://www.aicpa.org/BecomeACPA/Licensure/Requirements/Pages/default.aspx#states]150”>http://www.aicpa.org/BecomeACPA/Licensure/Requirements/Pages/default.aspx#states)</p>
<p>Yea, it’s just in Illinois I believe.</p>
<p>Well you might want to get a second opinion on that. Anyway, just about everyone will tell you that you are better off with a masters than a double major, although it might be cheaper to get the 150 hours through the double major.</p>
<p>My son is a junior this year and is double majoring in Econ and Accounting. He also plans to take an additional year and obtain his Masters in Accounting degree however I don’t believe that a Masters degree is required in our state.</p>
<p>The thing is I’d be able to get the double major in 4 as opposed to 5 with the masters, and I’m at school on a full ride for 4 years so the masters would require me to spend significantly more than I would otherwise. Also, I’ve talked to recruiters from the big 4 that said they don’t care if you have the dual degree or the masters as long as you can sit for the CPA.</p>
<p>From what I’ve researched(briefly mind you, I’m only a freshman) some states, such as Florida where I live, require the 150 credits consist of a significant amount of “upper level accounting courses.” Based on what I saw, these would not be satisfied with simply an undergraduate accounting degree because of there not being enough accounting courses, and in that sense a MAcc or Master’s in Taxation is sort of “required” in order to fill the credits. But I’ve never heard of it having to be strictly a MAcc. From what I understood, (and again I didn’t research in depth, just skimmed the Florida requirements) it could be something like a Master’s in Taxation or Master’s in Forensic Accounting(FBI anyone? 
) because you are taking the “upper level accounting courses” required to fill the 150 credits past those of an undergraduate accounting degree.</p>
<p>From the AICPA FAQ:</p>
<p>Q:<br>
Does the CPA candidate need to obtain a master’s degree to meet the 150-hour requirement? </p>
<p>A:<br>
The AICPA education proposal does not require a master’s degree to meet the requirement. It can be met in a variety of ways, including extra hours at the graduate level without a master’s degree. None of the states that have passed the 150-hour law require a master’s degree</p>
<p>hamburgl4r, I can’t seem to find anything about the master’s degree requirement from the IL BOE. See here, [FAQs</a> - Academic Credentials Evaluation | Illinois Board of Examiners](<a href=“illinois-cpa-exam.com”>illinois-cpa-exam.com).</p>
<p>Should call out your adviser for feeding you that BS.</p>
<p>I couldn’t find anything about it either, but I think that’s because it’s not a law yet. It goes into effect in July of 2013, which is the year I graduate.</p>
<p>They would give at least a 4 year notice so new students would be informed. Where are you getting this information? If you didn’t know, majority of advisors give AWFUL information. Often times schools don’t realize how terrible of a job their advisors do.</p>
<p>Tell your advisor to show you where he/she is getting this information.</p>
<p>I think that they just try to allure you to their 5 year bachelors/masters program by saying that.</p>
<p>^^100% agree</p>