USA Thinking about taking the CPA Please Help Answer Brief Questions

[Chicago]

I graduated with an accounting degree years ago and due to not networking enough I couldn't land a job. I worked deadend jobs for years. I have 4 more credit hours to go to qualify for the CPA. I'm currently in school for data science and machine learning (unfortunately this school doesn't qualify for credit hours). Would love to combine accounting with programming.

1) Do FEMA credits still count?
2) What study systems are you using to study for the CPA? I'm not sure how much money I can spend but the higher end stuff like Becker might be out of my range. I will definitely be using cpareviewforfree.
3) Will the CPA help me with getting hired in an accounting firm? I'm really insecure about getting hired in an accounting firm. Will even completing 2 of the exams help my odds?

 

[UncleSam]

Hey Chicago!

1) This really depends on your state. I lived in Wisconsin and I had FEMA credits, but I had to have them transferred to and accepted on a college transcript. I also had 170 credits in total of which 12 were from FEMA so the state may have disregarded them and just used my other credits.

2) Highly recommend Roger CPA Review. Absolutely fantastic for me in passing the CPA exam first time on every try. Lessons are engaging and keep you energized. Even with costs Roger CPA Review is often running discounts or offers payment options so definitely check it out.

3) Yes a CPA would definitely help get you hired at an accounting firm and be able to rise in the company. However, just passing a few exams may not be enough. More than anything else what firms look for are work experience and education.

If you have anymore questions or want to discuss feel free to direct message me.

 

[Chicago]

Hey UncleSam.

Thanks for the message. I'm in Chicago, Illinois. There's all these issues like passing the exams, paying for the study material, etc. I'm very glad you among others are helping me out.

"More than anything else what firms look for are work experience and education."

This bothers me. I have gaps in my resume and never worked an accounting job. If I pass all 4 exams and nobody wants me that would suck. I don't suppose I can possibly just get the FEMA credits and notify employers that I'm serious about taking the exam?

 

[Varunjain]

Certified Public Accountant (CPA) is a license issued in 55 territories of the United States that authorizes the holder to practice as a CPA in that jurisdiction. To earn the prestige associated with the CPA license, an individual is required to demonstrate knowledge and competence by meeting high educational standards, passing the CPA exam and completing a specific amount of general accounting experience. The two most important aspects of becoming a CPA are passing the Uniform CPA Exam and meeting licensing requirements in the state where you want to practice.

As for CPA eligibility, you need 120 credits to appear for CPA exam and 150 credits for CPA license.

The demand for CPA has considerably grown in recent times with the substantial growth in MNCs and the Big4s. This shift in the trend is because of the requirement of knowledge and credibility about US GAAP, IFRS & US taxation by these multinational companies.

In other words they give extensive training on the US GAAP, taxation and the IFRS to their existing employees who are a qualified Chartered Accountant from the ICAI.

 

[Fully Depreciated]

1) I'm not sure about the FEMA credits, sorry.

2) As someone else commented here, Roger CPA review is hands down the best CPA review course out there. You mentioned that budget is tight so then I would recommend Roger even more. The course would run you about $1,500 after discount, the full price is around $3,000 but they offer huge discounts every once and a while so I'll look for those. The price includes all 4 sections of the CPA exam and you get it until you pass.

I wouldn't settle on a low-tier review course. Each exam is around $200-$300 so if you fail and retake those fees will add up, so just invest in a good CPA course to begin with.

3) CPA, or at least being done with some of the exams, is a huge plus when interview for a CPA firm. Most people who gets hired don't have their CPA yet and they work towards it while working at the CPA firm. If you get that before they hire you that's already a huge advantage.

Good luck!

 

[MLD339]

Hi, I'm uncertain about FEMA credits. I would definitely check in with your state accounting board to ensure that the school that your credits will qualify for the CPA, I was uncertain with my school as well and my state board was able to confirm it for me. I'm also using Rogers and it's the best! It's much more affordable than Becker and Roger is very entertaining in his lectures.

As for looking for positions, I also struggled looking for my first job in accounting. The whole interview process with many companies was a very humbling experience. I was lucky and stumbled across an accounting firm that specialized in nonprofit accounting. The initial pay was low, but I quickly rose up in the company and have now worked there for over 5 years.

I'm sure you'll find something great, good luck!

 

[ella_bella]

The accreditation will indeed assist you in landing work. It's an excellent accompaniment to the accounting undergrad. The machine learning and AI credits will be excellent as well, as the profession is moving towards that and yours will be an excellent specialty. This will give you an edge over other candidates for sure. For exam prep, try UWorld Roger CPA's free trial version to get a feel for the product before purchasing. They have affordable packages, and also let you purchase sections piecemeal if you'd like.