<p>I'm an undergrad Econ major going directly into the MBA program at a mid-level school. I have recently taken an interest in the CPA certification - yet I have only had a couple classes in accounting. If I choose to get the CPA I will have to jump through some hoops to get the education requirements (not an undergrad acct major). Because my school isn't a top business school, the CPA will really compensate for that. My delimma is:</p>
<p>I don't know that I am interested in accounting! I have no intentions of doing public accountancy, and my limited exposure to acct in classes leaves me questionable to whether I will just drop the CPA because of boredom and lack of interest. I do like finance and analysis and see myself in a corporate finance/ fin. analysis position. I enjoy critical thinking and problem solving, so I think this might be an area I enjoy.</p>
<p>I have lately realized the importance of accounting in understanding business. I just had an interview for a mutual fund accountant position and I think it will be a big benefit in the long run.</p>
<p>My game plan is work full time in this quasi accounting/finance position and do the MBA in 2-3 years. For my state's CPA reqs. I need to work 4 years in an acct position (or 1 year under a CPA)- OR fulfill the education requirements which means (since im non-acct major) concentrate in tax or take online classes from devry/keller ect. </p>
<p>I have a free CPA review course from Becker that will help out with the exams. </p>
<p>Is this a crazy plan? How difficult is the CPA exam? I did well on the GMAT with limited time to study. Will not having the undergrad acct classes really make it difficult or me? The other option I have is to switch to the MSA - but I don't want to sacrifice the business knowledge for tax, auditing and forensic accounting ect. classes</p>
<p>Also.. a large percentage of CFO's have CPA and MBA.</p>
<p>I would avoid going directly into an MBA program out of college. If you want to get into corporate finance, it doesn’t hurt to start off as an accountant at a place like a mutual fund so long as you got the MBA later. If you would like to remain in the investment world, in whatever capacity, it might be wise to pursue a CFA Charter. The designation is more concerned with financial statement analysis and valuation of assets, which seems to be something that you were interested in.</p>
<p>I think both a CFA charter or the CPA designation would look good on a resume when applying to a good MBA program. I received an MBA from UT Austin, and we had both CPAs and CFA charter holders in our class. There were definately more CFA holders though. I would even go out on a limb to say that CFA may look a tad better on your application than CPA does. Just for the simple fact that you would be more employable in a post MBA style job in investments.</p>
<p>The restrictions for CFA are three years of experience in a relevant field. They are pretty liberal with what kind of experience is necessary. The good thing is that you take the exams while working and it typically takes three years to complete all three levels of the examination.</p>
<p>Thanks BK,</p>
<p>I’m not really interested in the investment world or the CFA. The CFA is definitely a better credential than a CPA (at least in the investment world). </p>
<p>I guess what I’m getting after is whether or not it is likely to get the CPA without an MS in accounting and a limited amount of acct classes. </p>
<p>I would seriously have to take a few online accounting classes from a keller or devry or similar school (I doubt I would even put it on my resume) just to get the core information for the exam. I really think I will be committed to studying for the exam.</p>
<p>I’m kind of discouraged by my poor undergrad performance, which is limiting me to a mid-low tier school (East Carolina). </p>
<p>My 2nd area of discussion is the career path I have (in my head) developed. I’m looking to work for 2 or 3 years in accounting, while doing the MBA, then I’ll get my CPA.</p>
<p>I’ll have 2-3 years of work exp, my MBA, and my CPA
Next i’m planning on going into either analysis, or cost accounting. Ultimately I want to go into management accounting.</p>
<p>If a management consultant opportunity opens up I would take that though :)</p>
<p>Also, if I know I am not concerned with Tax and I want to focus on management accounting, would it make sense to just get the CMA instead? Does anyone have any insight as to how comparable these credentials are?</p>
<p>Skip the no name worthless non ranked MBA program. I’d look into a solid MSA program, it’ll get you the position you want. Also the CPA does help for these types of positions. CMA is crappy. CFA is king.</p>
<p>I have considered the MSA program at my school. I still want the MBA though - would I be able to get into a good school with a 2.3 GPA, lets say a 3.9 Masters GPA, CPA and some experience?</p>
<p>Yes, you are more likely to get into a good MBA program with an excellent post grad GPA that pulls up your bad grades from undergrad. Many MBA adcoms look at your upper level (Junior/Senior) course work to figure your GPA as well. I went to a top 20 school and my overall undergrad GPA was 3.1. My GPA in upper level courses was 3.8. I had a rough freshman year. It was cool because they didn’t even really count it. Getting good grades in Grad school will definately help your application if you have poor undergradate grades. </p>
<p>Further, you need work experience to get into any decent MBA program. If you want to get into a top MBA program, here is my advice:</p>
<p>-Get your masters in accounting now. Get straight A’s.</p>
<p>-Start working as an accountant at a Big 4 firm or an accounting firm that does meaningful work. Earn your CPA while there (they usually pay for it along with a good salary).</p>
<p>-Study hard for the GMAT. Score high. Get an MBA from a good school.</p>
<p>-Management/Strategy Consulting firms hire from good MBA programs. That is probably your best (and only) shot into that field.</p>
<p>Regarding the exam it can be difficult and whether or not you need accounting courses is really about the level of your aptitude. Majoring in accounting is certainly preferable and the review courses are a benefit that teaches you the tricks and how to manage the time constraints. The test is just a standardized test and your goal is to get a 70% to pass. Or in least in my day that is what you needed. I took the exam in the early 80s. </p>
<p>The public accounting road is where IMHO the real value is. The experience gained in an “up or out” environment and the fast pace of a professional services industry with bright people builds solid skills. It teaches you to be very quick at analysis and provides a broad background assuming you get to work in more than one industry. </p>
<p>The MBA will help get your foot in the door and give you the corporate finance type background assuming you pick finance as the emphasis. The CFAs can be hard to compete with as they are smart folks but I never felt inferior to them and never lost a promotion due to having a different background. MBA-CPA is a solid combo. Some CFAs I was around had book skills but lacked the practical. Don’t get me wrong, the CFA is a real good cert.</p>
<p>I am not one that subscribes to that wait to get the MBA degree because you need experience to benefit from the courses. Get the degree when you want. If you wait you just become more experienced and then get frustrated listening to all the theoretical crap that your instructors put forth. When you are less jaded you will be more interested in the material.</p>
<p>Just my 2 cents.</p>
<p>Thanks for the advice. I’m starting to consider the MSA more seriously. </p>
<p>If I get this fund accountant position, I will most likely stay in the MBA program because I can work while going to school. Most of the classes are at night/online. It’s actually a very good school for online programs. </p>
<p>Regarding the big 4 - would a 2.3 undergrad (laughable I know), ~3.9 MBA (ranked ~#150), 2-3 years of basic fund accounting/reporting and CPA cert get me in the door?</p>
<p>Would I absolutely have to do the MSA?</p>
<p>Do big 4 firms prefer students who already have the CPA, or rather ones who are in the process?</p>
<p>Big 4 firms will hire you if you complete a masters in accounting. After that they pay for you to get your CPA while on the job. There’s a better chance they’ll hire you if you get straight A’s while in your master’s program (since your undergraduate grades are pretty bad). </p>
<p>An MBA isn’t worth it unless you get one from a good school. I wouldn’t bother going part time right out of college while you’re an accountant at the fund. It will be a waste of time and money. If you want to get an MBA, I would get your masters in accounting first. At least that will likely lead into a decent job for you as well as give you the opportunity to show a BSchool adcom that you are cabable of making good grades and surviving a strong MBA program.</p>
<p>Also, while I hear most people refer to audit or tax when speaking of big 4, what about advisory? How do you get jobs in this area of the big 4? This area seems much more interesting than auditing.</p>