Hello everyone,
I'm a 27 year old student entering my last few weeks of University (potentially). I will be graduating with a major in accounting. I am looking for advice on the paths that are open to me and which one may be the best option. I am likely to pursue a CPA designation because of the security it provides when achieved. In this floundering job market it seems as though it would be wise to have a CPA designation.
A little background information:
I began my post-secondary path in College and bridged into University. The bridge altered some of my course path. Under CPA & CGA streams they require Advanced Auditing (from my understanding). I was unable to take this course at University so it is my understanding that I will need to receive the credit at some point. Unfortunately, the transition to University from College didn't go entirely smooth and I received a "C" in my Intermediate accounting I course. Additionally, my Advanced Financial Accounting Professor was terrible and a large portion of the class garnered a "C" in that course as well. All of my other accounting courses were A's and B's. Under CGA, you are required to have a C+ to get a transfer credit. Obviously this means I would be required to re-take both intermediate and Advanced if I went the CGA to CPA route. Additionally, I would be required to complete PA1 & PA2. I would be eligible to challenge the Tax exam. All of the CGA educational requirements must be completed by September 2015 if I want to avoid the CPA PEP and CFE.
To summarize the CGA to CPA route:
In addition to the above I will need work experience. I have a couple of options:
Take all courses in the fall and be done (I think this might be extremely stressful given the difficulty of some of the courses)
Take them periodically over the next five semesters and attempt to find an accounting related job and/or other work to balance the financial requirements of life expenses
Questions:
Would it be easier to take the courses in University if they're offered? Or would the CGA courses be easier?
Is it realistic to complete these courses over a 5 semester period?
The CPA process:
I would graduate and enroll in the PEP program which begins September 2014. My courses average above the required "B-" of the 51-credit hour path of the CPA. As stated, it is my understanding that I need advanced auditing which I do not currently hold. This leads me to believe I would need to take this course, and then challenge the other three modules in the PEP program. What are the other 3 modules? Tax and two comprehensive modules?
After completing the PEP program I will need to complete the Capstone course and then write the CFE.
To summarize the CPA process:
Question:
I looked at the CPA website for course offerings and it seems as though all courses only have final examinations, with a few exceptions that provide 1 or 2 weekend modules. Does this mean the advanced auditing would in fact be a final examination that I would be studying for on my own?
I feel as though the CGA process would be easier, judging from what I have in front of me. I'm viewing the challenge examinations as courses themselves because I assume it's going to take a fair amount of studying to prepare for each. The CFE seems to be a rather large hurdle I would be able to avoid pursuing the CGA to CPA route.
Other factors I would like to note:
I apologize for the story I have written but I wanted to be thorough. If you've made it this far, I would really appreciate any advice you can provide!
Thanks
I'm a 27 year old student entering my last few weeks of University (potentially). I will be graduating with a major in accounting. I am looking for advice on the paths that are open to me and which one may be the best option. I am likely to pursue a CPA designation because of the security it provides when achieved. In this floundering job market it seems as though it would be wise to have a CPA designation.
A little background information:
I began my post-secondary path in College and bridged into University. The bridge altered some of my course path. Under CPA & CGA streams they require Advanced Auditing (from my understanding). I was unable to take this course at University so it is my understanding that I will need to receive the credit at some point. Unfortunately, the transition to University from College didn't go entirely smooth and I received a "C" in my Intermediate accounting I course. Additionally, my Advanced Financial Accounting Professor was terrible and a large portion of the class garnered a "C" in that course as well. All of my other accounting courses were A's and B's. Under CGA, you are required to have a C+ to get a transfer credit. Obviously this means I would be required to re-take both intermediate and Advanced if I went the CGA to CPA route. Additionally, I would be required to complete PA1 & PA2. I would be eligible to challenge the Tax exam. All of the CGA educational requirements must be completed by September 2015 if I want to avoid the CPA PEP and CFE.
To summarize the CGA to CPA route:
- Intermediate I
- Advanced Financial Accounting
- PA1
- PA 2
- Advanced Auditing
- Tax challenge exam
In addition to the above I will need work experience. I have a couple of options:
Take all courses in the fall and be done (I think this might be extremely stressful given the difficulty of some of the courses)
Take them periodically over the next five semesters and attempt to find an accounting related job and/or other work to balance the financial requirements of life expenses
Questions:
Would it be easier to take the courses in University if they're offered? Or would the CGA courses be easier?
Is it realistic to complete these courses over a 5 semester period?
The CPA process:
I would graduate and enroll in the PEP program which begins September 2014. My courses average above the required "B-" of the 51-credit hour path of the CPA. As stated, it is my understanding that I need advanced auditing which I do not currently hold. This leads me to believe I would need to take this course, and then challenge the other three modules in the PEP program. What are the other 3 modules? Tax and two comprehensive modules?
After completing the PEP program I will need to complete the Capstone course and then write the CFE.
To summarize the CPA process:
- Advanced auditing
- 3 PEP challenge examinations
- Capstone
- CFE
Question:
I looked at the CPA website for course offerings and it seems as though all courses only have final examinations, with a few exceptions that provide 1 or 2 weekend modules. Does this mean the advanced auditing would in fact be a final examination that I would be studying for on my own?
I feel as though the CGA process would be easier, judging from what I have in front of me. I'm viewing the challenge examinations as courses themselves because I assume it's going to take a fair amount of studying to prepare for each. The CFE seems to be a rather large hurdle I would be able to avoid pursuing the CGA to CPA route.
Other factors I would like to note:
- Given my age, I would like to get my career started as soon as possible, however; I am still living at home and I'm dying to get my own place. I was initially planning to land a job after graduation and move out in the summer. This is why I am leaning towards doing my remaining courses part-time over the next 5 semesters of CGA as I work.
- Regretfully, I have a criminal record dating back to being a young adult (I was 19). I was convicted of Break & Enter and possession of a controlled substance. I am not eligible for a pardon until another 3 years have passed. I would have been pardoned already if the legislation had not been changed in May 2012 (I initially planned to go back to school and get my designation based on the previous legislation and the fact that I would have had a clean record). I understand this is a major hurdle to overcome but I've worked far too hard to give up now. Is there anything I should know about the designation process regarding a criminal record? I know that CGA mandated approval from the body if you were convicted of a crime but it looks as though the amalgamation has removed that stipulation.
- I have recently acquired a certification in personal training and I can use this to work part-time if needed (I can do accounting and PT together if I have trouble finding a full-time accounting position). I wanted to have something else to fall back on if I fail to find a worthwhile accounting position after graduation (I've been applying without much luck yet).
I apologize for the story I have written but I wanted to be thorough. If you've made it this far, I would really appreciate any advice you can provide!
Thanks