Weighing up a CPA or MBA
Weighing up a CPA or MBA: CPA
Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world. In the United States, the CPA is a license to provide accounting services directly to the public. It is awarded by each of the 50 states for practice in that state. Additionally, almost every state (49 out of 50) has passed mobility laws in order to allow practice in their state by CPAs from other states. Although state licensing requirements vary, the minimum standard requirements include the passing of the Uniform Certified Public Accountant Examination, 150 semester units of college education, and one year of accounting related experience.
Continuing professional education (CPE) is also required to maintain licensure. Individuals who have been awarded the CPA but have lapsed in the fulfillment of the required CPE or have requested to be converted to inactive status are in many states permitted to use the designation “CPA Inactive” or an equivalent phrase. In most U.S. states, only CPAs are legally able to provide to the public attestation (including auditing) opinions on financial statements. Many CPAs are members of the American Institute of Certified Public Accountants and their state CPA society.
State laws vary widely regarding whether a non-CPA is even allowed to use the title accountant. To illustrate, Texas prohibits the use of the designations “accountant” and “auditor” by a person not certified as a Texas CPA, unless that person is a CPA in another state, is a non-resident of Texas, and otherwise meets the requirements for practice in Texas by out-of-state CPA firms and practitioners.
Weighing up a CPA or MBA: MBA
The Master of Science in Marketing (or MS Marketing) is a graduate degree that prepares the student to work in middle-management-and-above marketing positions. The specific field within marketing will depend on the student, their program, and the firm with which they will work. Fields may include brand management, digital marketing,integrated marketing communication, marketing analytics and research, marketing strategy, pricing strategy and many others.
The key difference between the MS Marketing degree and the Master of Business Administration (MBA) degree is the required number of marketing courses in the degree. Typically the MBA degree may have a concentration in marketing or other fields of 4-6 courses. The MS Marketing degree will usually have 10-12 marketing courses. The MBA will offer courses in accounting, finance, business strategy, marketing, organisational behaviour and other general business courses in much less depth than a specialised degree such as the MS Marketing degree that requires marketing courses, supplemented with perhaps a few electives in other areas such as analytics.
DIFFERENCE BETWEEN MBA AND CPA
|CPA is organised by the American Institute of Certified Public Accountants (AICPA)||MBA is offered by Business Schools affiliated to a University|
| The CPA testing windows 2017 are:|
1st Quarter: January to February
2nd Quarter: April 1 to June 10
3rd Quarter: July 1 to September 10
4th Quarter: October 1 to December 10
|The MBA program is set in a semester mode and the two year course sees a candidate pass out four semesters. The exam window is different for different B-schools.|
| There are four sections to be cleared in a CPA exam: |
1. Auditing and Attestation (AUD),
2. Financial Accounting and Reporting (FAR)
3. Regulation (REG),
4. Business Environment Concepts (BEC)
| The core subjects include:|
• Analytical- accounting, managerial economics, operations research, organizational behavior, economic policy, and business statistics/quantitative analysis
• Functional-financial management, human resource management, marketing management, and operations management
• Ethics-business ethics, corporate social responsibility, or corporate governance
|Still waiting for 2016 full year’s results. The overall 2015 CPA exam pass rate was 49.9%, a tad higher than the 49.7% in 2014. It has been hovering around 50% for many years.||MBA Exam pass percentage is 50%|
| Let’s sum up the CPA Examination fees:|
CPA examination and application fees: $1,000
CPA Exam review course fee (mid range): $1,700
CPA Ethics Exam: $130 (rounded up figure)
Licensing fees (mid range): $150
Grand Total: $2,980
|Around $40,000 or $50,000 depending upon the B-school and the area of specialization|
|1. Forensic Accountant|
2. International Accountant
4. Financial Analyst
|1. Security & investment analysis|
2. portfolio management.
MBA Professionals can also be the best fit for the
Weighing up a CPA or MBA
Neither one is “better” than the other. What matters is what you do with what you learn in either program. There are unemployed CPAs and MBAs and plenty of both doing very well so either one would be a plus to have and having both would possibly be even better as far as opening more doors to check out different career options, although not sure spending that many years in school would outweigh getting the actual work experience as well.
Personally I would not commit to becoming a CPA until you have passed Intermediate accounting. By then you should have a good idea whether it comes naturally to you or if you are trying to force yourself into work you will hate. Ideally you have an opportunity to work in an accounting role to see if you are going to like the work before making such a commitment.
The great thing about accounting, it will not be time wasted if you change your mind, because it is helpful to know some accounting in any business, whether as an employee or investor, or for starting up your own company. It never hurts to have some education under your belt about financial info since it will be part of personal and professional life no matter what you do.
Weighing up a CPA or MBA
www.cakart.inprovides India’s top CPA faculty video classes – online & in Pen Drive/ DVD – at very cost effective rates. Get CPA Video classes from www.cakart.in to do a great preparation for primary Student.