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The scam (at least in California) is the unit requirement outside of accounting. I didn’t major in accounting but took enough classes to meet the accounting unit requirement and would’ve had to take another year of BS fluff classes online or at community college to even get my license despite having double majored in a semi-STEM and STEM field.
Agree with this
CPA exam is essentially gate keeping and is really for CPAs to impress each other.
It really wasn’t hard. If you can’t pass, you should consider whether accounting is for you. It doesn’t mean you don’t have the horse power, but you may not have an aptitude for accounting.
I had a roommate that started in accounting with me. Hated it and kind of sucked at it. Now he’s a great software engineer and makes way more money than me. Everyone is different.
What does that even mean; socially inept? The guy was being honest about something and u attack his character. FU. You probably heard that phrase from someone u want to be like and felt it necessary to parrot the saying. GFY
The CPA exam is not hard. Sorry you couldn’t pass it, hope you didn’t pay for a Master’s to hit 150 credits to give up.
Maybe it’s these Econ classes we take as part of the basic business curriculum. Might’ve collectively convinced us to move that supply curve so we can ultimately bill @ a higher rate
Gigantic road block only to keep the “poor” out. So much preaching about diversity but the damn exam is thousands of dollars to take, not to mention all the travel expenses and flexibility from work. So much wrong with the exam (that being said I did pass it)
Proud “poor” here who studied at night after my summer job between graduation (I passed when you could not sit before you actually had your degree) and full time work. Passed on one attempt using free materials. No “bonus” in my day either. Getting a baseline credential wasn’t rewarded.
If it were easy and everybody could pass, it would be worth nothing in the industry. I didn’t pass it right out of college, thought I could live without it, but ultimately decided public accounting was where I wanted to stay. Passed them 6 years after my first attempt with an avg score of 90. I had a three year old and was 6 months pregnant with my second kid when I sat for that fourth exam. If it’s something you want, you’ll find a way.
This is what I'm fucking talking about. Good stuff congratulations to you!
The CPA exam is not that hard. Why are you complaining
I didn’t pass all 4 either 💀 RIP to us both.
Passed FAR, BEC, kept failing REG by one point and kept running out of time on AUD. Once FAR fell off, I gave up. It’s not a scam, it’s just not in our wheelhouse. Pivot to something you don’t need the CPA for (like consulting). I grabbed a different certificate and I’m fine now.
That’s why networking is more important than any certification.
Rising Star
While I think the exam should be modernized (and it seems like they are finally doing it) the exam overall is not a scam. The scam, comes from the arbitrary requirements needed to sit for the exam.
Let’s be real, 120 credits is sufficient to be licensed. If you have to go out of your way to find extra accounting classes just for the credits and not for the actual education or as prep for the exam, than those extra credits are useless.
Additionally, if you want to look at scams in accounting, the CPA exam is the low hanging fruit of complaints. If you want to look at real scams, let’s chat about, how as a profession we are severally underpaid based on our level of education and professional certifications, and how independence rules at the lower levels is basically useless (complying with insider trading laws should be sufficient).
This is what happens when we, as a society, privilege profit-making before other forms of ethics. When we declare that being rich = being a good person, and declare people who aren't willing to contribute to others getting rich are being "lazy" you give a free license to exploitation. Until we tell people that profits come 2nd to ethical business management, then this isn't going to go away.
Pro
I see now why you work for BDO
Shall me assume you think that the medical board tests your doctor needed to pass is also a scam? How about the bar exam for lawyers?
My ex-husband is a nurse and getting into a BSN program is hard, some of the classes are intended to weed kids out and you have to pass the NCLEX before even starting to work nights. Nothing but respect here, they have it harder than we do ❤️.
Rising Star
Just like most college degrees, if we're being honest
A scam? No. Not even remotely.
Now, do I think that we should re-evaluate the course content to suit a modern working world and adapt to address the imminent accountant shortage? Yes. Do not mistake that for a “scam”.
This is exactly right. As the OP says, if you disagree, you’re wrong. Sorry, not sorry.”
I just wish it wasn’t four separate test. I do get the expiration portion but I think there should be a caveat. I don’t think you should lose credit for a part that is hasn’t had any changing in the test, even if it’s been 18 months. Sure you will get different questions but you already passed that portion.
Ughhh this is why I’m taking FAR 1st
The 150 credit hour requirement is the scam, not the exam. Most were lobbied for by state universities who have masters programs, no self dealing there.
The exam isn’t that hard, it only takes effort and aptitude for accounting.
You need some bar to entry otherwise every schmuch with tick tock will be out there representing themselves as qualified public accountants based on second hand information.
If you can’t pass the exam you either aren’t applying yourself when it comes to studying, you need coaching on these types tests, or you need concessions because of a learning disability.
Everyone that I knew who had trouble passing the exam just weren’t putting the hours in.
I agree that there should be a barrier but disagree that it needs to have a ~ 50% pass rate.
Pro
Accounting as a career is a scam. You need all these credits just to take the cpa. Usually that involves a bachelor and a master then you have to study for the cpa just to work long hours and get low pay, in exchange for this “stability.”
I honestly think the reason why there are so many requirements is to actually pretend people from changing their careers because they know accounting is a pretty bad career choice, but once you have gone through with all these education (bachelor, master and cpa), the chances of you switching your career is slim.
Must be a liberal. My opinion or nothing.
Gotta love how they don't even give any reason for why they think it's a scam.
Folks, look to the leadership of this industry. How do you think the 150 hour requirement came to fruition in the first place? Did all of the state legislatures just independently and randomly decide about 20 years ago to implement a 150 hour requirement? Look at how the 150 hour requirement helps the firms get around paying overtime.
Take a full step back and look at the whole picture. Much of the profession is a scam, and the CPA Exam and it's eligibility requirements are a part of it.
That’s sort of dodging my point. If states relax the requirements to become a licensed CPA and another Enron, Worldcom, etc. happens, the industry will be looked at more harshly and with more scrutiny by the public than if the requirements had stayed the same. That’s all, i guess I could have worded that better
You can have a great career and make a lot of money without having your cpa. I think its a good thing to have but not an end all be all kind of thing. It is a very tough exam
I don’t think it’s a scam but the juice definitely isn’t worth the squeeze. Having a license gives you the privilege to do some thing, like a drivers license gives you the privilege to drive on public roads. A cpa license gives you the privilege of signing off on a public company’s 10k(partner role) and a public company’s audit report(partner role). In reality most people with the license will never actually use it, so what’s the point of getting it?
Assumed competence. It’s equivalent of why everyone has to get an Ivy League bachelor degree to work with elite politics or high end corporate jobs. Tons of political elites across the world are dumb but they always have an elite degree from Ivy League to look cool. Trump is a prime example!