Masters Accounting- Public Accounting Tax

<p>I figured this was a good place to ask seeing all the accounting threads. </p>

<p>I'm currently going to be a senior at Penn State. I'm currently enrolled in a masters/bachelors program of accounting which gives me some extra graduate courses and enough credits to sit for the CPA exam. However, I'm a bit worried about the lack of tax classes in my program. I took one tax class as an undergrad and the program has another one scheduled. My question is, do public accounting tax departments favor applicants who have taken more tax classes in their macc program (or have an ms tax) or does it not matter if I am eligable/pass the CPA exam?</p>

<p>While some MAcc programs do offer an abundance of tax classes, some do not. It simply depends on the program. There are other masters programs out there that allow you to specialize in tax, such as a Masters in Business Taxation. As far as landing a job, do you have any internship experience yet? If you are applying at a public accounting firm for a staff accountant (entry level) position, then the answer is no, most accounting majors only have one or two tax classes. If you want to specialize in tax I recommend looking into some of the masters programs in tax referenced above. Some of these programs are shorter than a typical grad program such as an MBA.</p>

<p>Thanks for the reply, Thetaxdad.</p>

<p>My schools masters program seems to take a broad basis and includes much, if not all, of the CPA exam topics. It seems more like a program that gives you the necessary credits/knowledge for the exam.</p>

<p>My main concern was that I wasn’t going to be prepared enough to work in a large public accounting firm’s tax department. Do you pick up most of the tax knowledge on the job or is there a lot that needs to be learned before hand? Will I be alright initially with those two tax courses or will I need a masters in tax to be successful even before I start work?</p>

<p>I have no internship experience yet, but I’m currently in the process of trying to secure one in a large public accounting firm’s tax department next spring.</p>

<p>You learn a lot more on the job than you ever will in school. Certainly your schooling is important so that you can grasp main concepts, but it is the on the job experience where you really learn what is going on. I felt that I learned more in one of my internships than I had in all of my schooling to that point. If you do get a job with a larger firm, or even a mid-sized firm, most if not all, will have outstanding training sessions for interns and new hires. Many firms will pair you up with a mentor that is there to answer any questions you have along the way. You have no need to worry, concentrate on getting a solid internship and keeping your accounting GPA high.</p>