CPA pursuit - adult learner

Parents Forum
1

<p>I am considering pursuing an accounting degree (probably associate's) and CPA. I am not a member of AARP yet, but I am getting close.</p>

<p>I have a degree in Finance from an accredited university - but, it's old, obviously - because I am now sort of old.</p>

<p>My profession has landed me in IT Security - which I love. I hold high level certs that are very difficult to achieve - i.e. I work with internal and external auditors - CPAs - who don't pass them, or barely pass. However, I have noted that the CPA seems to be the ultimate distinction of credibility, and could help me achieve my next career move. I would prefer to be an advisor/consultant or respected systems auditor - as opposed to the poor schmuck that is responsible for implementing the controls in an information assurance hostile public company.</p>

<p>I have now worked for 2 publicly traded companies, which are household names, and being the person responsible for the risk mitigation and controls is just nearly impossible in the management environment that you are given. Therefore - I am betting it's pretty much the same all over in most publicly traded companies - and I need to get out of my particular area. I am thinking that unless I get into a defense industry, information assurance is really actually lipstick on a pig most places.</p>

<p>So, can I take 30 credits of the required accounting courses at a community college and expect to be adequately prepared, after perhaps taking a prep course and studying my butt off? Or, should I try to go to my local university and try to be admitted into their traditional accounting bachelor's program?</p>

<p>My state's requirements seem to say bachelor's degree is required...and basically 30 credits of accounting courses - and it must all total 150 credits. So, with my existing bachelor's, plus essentially an AA in accounting, I think that does it.</p>

<p>I am also REALLY attracted to distance learning - and the community college offers quite a few of the classes this way. I am a self motivated learner who needs to do things on my own time and schedule preferably. I have not needed to be spoon fed. Part of the fun challenge of infosec is that you need to read and educate yourself on topics. Until recently, there have been no degree programs, or master's programs in the field.</p>

<p>So, wise parents, what do you think?</p>

2

<p>I did something similar several (more than 20) years ago. Had a degree (not in accounting or business) and took the required accounting/business law classes at a local cc,then sat for the CPA exam.</p>

<p>It worked for me.</p>

<p>However:

  1. make sure that your state allows you to do this. The CPA requirements in my state have changed.
  2. I did take a CPA review course to prep for the exam.
  3. I also had an entry level accounting job when I was doing this, so when I moved on I not only had my CPA, but experience in the accounting profession.</p>

<p>I have never regretted doing this and have loved my work in accounting.</p>

<p>Good luck!</p>

3

<p>Thanks Fallgirl. I will look deeply into the state requirements.</p>

<p>Does anyone know if it is doable while working a full time job, that can sometimes be MORE than a full time job?</p>

<p>I see people working and taking the CPA exam frequently, it seems. But, they are younger than me. Is it just brutal?</p>

4

<p>I was working full time (plus) when I did this, but was much younger. The bigger factor was that it was before I had kids.</p>

5

<p>OK - thanks. Kids are not a big factor now as we have only 1 older child at home. My spouse is also pretty supportive.</p>

6

<p>What is your career goal? To be an auditor in an CPA firm? Large or small? Focus on tax? Maybe use your existing skills and focus on systems advisory services? Are you shooting for a job in idustry in the accounting side of things?</p>

<p>I think the end game impacts how you proceed. I am a partner in a small CPA firm. I have also worked for a regional firm and in industry. If you have any questions I can address PM me.</p>

7

<p>Short term, I think I would like to be a systems audit/risk management/ information assurance professional. I want to be able to use what I’ve learned in corporate information assurance to help me in a risk assessment and advisory capacity. I don’t want to be the risk mitigator/compliance person any more. I want to be the people advising them.</p>

<p>However, I see people performing integrated audits - not strictly systems audit. Clearly, financial controls and IT controls are tied together, many financial controls relying on IT controls. I am doubting that I can walk into the integrated audit side without a CPA - regardless of my other experience or credentials.</p>

<p>All companies, whether public or private, need these types of services - so I have not visualized who I would provide services for - it doesn’t matter to me. </p>

<p>Long term…I need to ease into retirement, and be able to perhaps have a part time job later on. I don’t really care what it’s doing - could be income taxes or financial statements. I might like ot teach infosec. Colleges now offer degree programs in it - I’ve even seen masters programs.</p>

<p>I’ve also always been good at computer forensics…fraud detection or forensic accounting would probably light me up.</p>

8

<p>I am by no means an expert, but I did get a degree in Accounting “back in the day” (1984), passed the CPA exam on my first try and obtained a license.</p>

<p>Much has changed since I did it, primarily the 150-credit-hour requirement. </p>

<p>I would say take a closer look at the actual coursework requirements you may need. I don’t think its as simple as having 150 credit hours…there are probably some specific accounting course requirements needed that may not be offered at the community college level. </p>

<p>In addition, (and of course this may too have changed since I obtained my license) just passing the exam may not be enough to get your CPA license. When I was in the process, we had to have a minimum of two years of audit experience under our belt before sending our application in; this is why so many would go straight into public accounting out of college. For the most part, that’s all new grads do is audit work. Its not as easy to fulfill the audit requirement if you are not already an auditor.</p>

<p>Also look at the continuing education requirements necessary to maintain your certification. In my state (NJ) the requirements are significant and expensive to maintain on your own; its helpful to have an employer willing to pay for the seminars necessary to keep your certification.</p>

<p>Good luck in your studies!</p>

9

<p>Even if you took the exam and pass it. How do you get the practical experiences to get the license? I think the rules may have changed, but in the old days, it was 2 year of audit work. Are you willing to give up the job and start over compete with kids that will take a 50K job to work 60 hours a week? </p>

<p>My wife passed the exam but never got the license because of that…</p>

10

<p>Thanks…yes, there is a professional requirement for work in the field…so I would fully expect to have to work in the field (2000 hours for MD) - but then I would hope my credentials would help me move along quickly. I’ve noticed that the requirements for promotion for these “integrated” auditors include the certs I have already obtained.</p>

<p>All worthwhile professions have continuing ed requirements…so that is fully expected.
I have a lot of continuing ed requirements for my own certs - but a lot of it overlaps - what is good for one is good for the other.</p>

<p>The Maryland requirements truly look like I need 9 or 10 classes that are accounting related…very specifically named classes (some of which I took a million years ago, but will do again). Then it specifies classes that were part of my original 130 credit BS…econ, stats, management science, business law, marketing, info systems, business communication. </p>

<p>It actually does not say you have to have gotten your degree in the 21st century!</p>

11

<p>And yes, I am absolutely willing to take a massive pay cut for a while and do this. To me, it will contribute to my own sanity, intellectual growth and will ensure my marketability for the next 20 plus years. I hit a point like this 15 years ago and it drove me to go into infosec…a very wise decision. I did a slightly backwards career move and it paid off incredibly well.</p>

<p>I also doubt if I will tell my current employer I am doing this, until toward the end. Because they will then ask the question you just asked…</p>

<p>I don’t think this is unethical, either, because given the way I see them treat valuable people, it’s every person for themselves.</p>

12

<p>I have never been a licensed CPA. I have always worked in corporate accounting/finance departments. In my case the CPA designation was a particularly valuable credential because my degree is in Biology. It has helped me get jobs in my field as well as move up into management.</p>

13

<p>I’m a little bit like FallGirl. My undergrad degree was in a social science, but I had started taking accounting classes along the way. I continued with accounting classes after graduation and after passing the CPA exam couldn’t find a job in my small town. I decided to continue my education to lessen the experience requirement required in my state and earned my MBA shortly before my oldest child was born. Stayed at home with two kids for 7 years and re-entered the workforce teaching accounting at the local cc. I’ve been doing that for over 20 years now and love it. I think of myself more as a teacher than an accountant at this point. That said, your maturity and life experiences would make taking the basic financial and managerial courses online doable. The real test of whether you are going to cut the mustard will come in the intermediate accounting sequence. I maintain a good relationship with several of the 4 year schools in my state where my students typically transfer and I think most of their faculty regard the Intermediate II class and Cost as the two most challenging junior level classes. You’ll likely breeze through the AIS course.
Good luck!</p>

14

<p>BTW, pumpkin… have you considered pursuing a masters degree in your field and teaching IT? At my school we are desperate for IT faculty as those with 18 grad hours in the field and a masters degree are so much more marketable commercially. However, teaching is a wonderfully flexible job and while the pay is only so-so, the benefits are solid.</p>

15

<p>2vu, yes, I have. Johns Hopkins has one that I’d probably never be admitted to - so I need to scratch that. They’ve created something called the Information Security Institute. It would also cost a fortune, and is not for someone who is also working. It’s VERY heavy in cryptography. </p>

<p>UMBC offers a ‘letter of recognition’ in Information Assurance. It’s sort of an ‘add on’ to an existing masters program. If you take 4 masters level courses with your Computer Science,Electrical Engineering,Computer Engineering, or Information Systems Masters program you can obtain this letter of recognition. One of these masters programs might interest me - but UMBC is pretty far away from me, and EEEEK I would have to take the GRE.</p>

<p>Towson University…this looks possible.</p>

<p>University of Phoenix has a brick and mortar site relatively close to me, as well as offering distance learning, and offers masters in infomation systems. No info assurance. I am a little suspicious of ‘for profit’ Universities, and unsure of the credibility it would confer. So, it’s an option. No GRE I think. I think CPA might accomplish more and possibly open more doors.</p>

<p>Information Assurance is in a sort of fledgling state as an area of study. There are many opportunities for curriculum and program development. I would love to teach it and help develop and train people in the field…but I may end up teaching certs, not academic subject matter. I’m very bright and capable but I am not a guru.</p>

<p>I will consider this more - but I think a CPA will at least immediately land me somewhere else with a newish career trajectory. Teaching is VERY attractive though.</p>

16

<p>I’ve found this thread interesting. I do not come from a finance or IT background, and have a prehistoric BA in a humanities field. I started taking some accounting classes a couple years ago at the local CC, and this fall I’m going to do a post-bacc accounting program at the regional state univ. It is essentially a second BA program. The plan is to take the CPA exam next summer/fall. They have both in-class and distance learning paths to completing the program, but if it’s done all online it takes two years to complete. In-class, if I take 4 classes each quarter I can do it in one academic year. Obviously, I won’t also be working during that time.</p>

17

<p>@pumpkin
Have you looked at the accounting profession per se?
Other than teaching, there are essentially two route to go with a CPA certificate:

  1. Public 2. Private</p>

<p>The Private route is internal to a corporation, it will be equivalent to what are you doing now, but the salary may not be as high as a comparable IT job like yours, especially you are starting it over. Its a steady job but some what boring in comparison of IT as IT is constantly changing and much challenging to learn new things, while accounting is very conservative so is the salary growth. I was in both for over 10 years each, so I know.</p>

<p>The public accounting is essentially nothing but a sales job, techincal part of the exposures ends very fast in 5 years or less. After that is sales sales sales, no sale no money type of environment. If you go that route, are you ready for it? Since you have been in the staff position for so long.</p>

<p>As a long term Accounting and IT professional, I choose to leave both fields and got into a real sales job -commercial real estate. but that is my choice. :)</p>

18

<p>I would probably look for a job in public accounting first. My goal would be to probably be in risk advisory.</p>

<p>Would I face problems going into public accounting at my age?</p>

<p>Is an accounting degree from a community college not swanky enough to land a spot in public accounting?</p>

19

<p>^ As an entry level at the big 4? Yes and yes.</p>

20

<p>I’m in Finance in a large well-known corp. No CPA, degree long ago in Econ. Are you looking at something in the area of Sarbanes-Oxley systems & risk compliance? Seems that is a combo of audit/IT. My company’s internal audit is a nomination program, taking people from a number of different disciplines. Good, in that you get the skill w/o having to go through the CPA route. Honestly, I’m not sure how they handle the SOx stuff these days. There was quite the kerfuffle a couple of years ago with some of the audit results. I do know that the number of jobs requiring a CPA here is relatively small in comparison to the number of finance/accounting jobs. </p>

<p>I do know a number of people who went back to get certified while working FT. It pretty much took up all of their non-working hours. Ultimately, they were all happy they did it.</p>

<p>If I were to go back in time, I’d get a degree in accounting and go into forensic accounting.</p>