<p>So I was wondering when people typically go for the masters in accounting (since, from what I hear, it seems like it's almost becoming a requirement to do it nowadays to get your CPA)? Is it like the MBA where people go work, for example, at the Big 4, and then come back after 3-4 years to do the masters, get the CPA and then start working or what? The thing is, many MACC programs make you take the GMAT, which is only good for 5 years, one of which will be gone while getting the masters. I think that I'd eventually want to go back and get my MBA, and that means that I'd basically have to take the GMAT twice, since it will likely expire in the time I need to get my work experience in. So how do people that want a CPA and MBA typically do it?</p>
<p>well if I were to do accounting, I’m more interested in the financial part of it (as a result, the private, not public sector interests me), so I think an MBA would help me out with that.</p>
<p>Another thing option I’ve been looking at is getting a CFA and then an MBA, but I’m worried about the career prospects of a CFA. Any ideas about that, if I’m more interested in the finance part of things?</p>
<p>Go for the masters in accounting right after undergrad (seems to be the norm) and go back for an MBA within 5 years and you’ll only have to take the GMAT once. Ta-da!</p>
<p>CFA is more just for finance stuff, whereas CPA is for accounting stuff. But, a lot of jobs that want a CFA also accept CPA, but it is hard to find a lot of jobs that will accept a CFA when they are looking for a CPA.</p>
<p>thanks for the responses so far. How necessary is an MBA though for progressing as an accountant? As I said, I’m more interested in the financial side, and becoming the financial controller of a company or something like that, so is a CPA generally enough to suffice or do you need the MBA on top of that?</p>
<p>Also, I have read that a lot people claim that starting off in the private industry is a bad move because you supposedly limit yourself, but just how much are you limiting yourself, especially if you know for sure that you want to stay in the private industry?</p>
<p>creamgethamoney - the MAcc is certainly not required nor is it even the norm. If you are a freshman and know you want to do accounting, then getting into a MAcc prgram right away is ideal if you plan on getting a CPA. Since you need 150 credits to sit for the CPA anyway, you may as well do the MAcc in five years. If as you say you want to go into industry, you are right in that getting your CPA while working in public accounting first may be the better move. Even if you only work public for a few years, you will get so much more expoosure to different aspects of the business as compared with entering industry right away. Also, it sounds like the MBA would be a good route for you, however, I would look at doing that after a few years of work experience and maybe the CPA.</p>