Thoughts on the new CPA exam changes?
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I'm not sure why NASBA and the AICPA want to put people in boxes. What I would prefer is increasing the time to pass from 18 months to at least 24 months. So many of us are studying while working full time, and with busy seasons that are 3+ months, it's more like a little over a year to pass all four parts.
I also wish they would get rid of the 150 credit requirement and instead increase the number of years of experience. I got my 150 credits done during undergrad by planning and double majoring in accounting and Spanish. Keep the accounting and business class requirements, but the other additional credits are unnecessary. It just forces people to get a masters for no reason. Which I'm sure is all part of NABSA/AICPAs master plan.
They will never get rid of educational requirements because universities are huge sources of funding for AICPA and NASBA. If anything, I can see they might raise credits in the future.
It's far better if they remove the credit expiration time limit completely! However, this act will allow the test preparation market to be monopolized by three providers. Becker will own more than 50% of the market. Still, the income stream from universities and colleges is far more important to them than the test preppers.
The whole point of the changes is to make the exam easier / more accessible. Fewer and fewer people are choosing to be certified because the exam is too hard and it’s simply not worth the time / effort.
If anything the specific class requirements should be dropped entirely. Some states go entirely overboard with the types of classes they require to sit for the exam. Anyone that has an undergraduate degree and a year of accounting experience, should be able to sit for the exam, regardless of whether they have taken 1 accounting course or 10.
Honestly it doesn’t look like much is changing. They just split up BEC into parts and let you pick which part you take. The core areas are still FAR, AUD, and REG.
First I’ve heard of it. What’s changing?
Yeah, I can’t read that
Gonna be harder to pass the exams now