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It’s bad for current CPA’s — it was designed to limit the supply in order to increase wages.
It worked. All getting rid of it will do is decrease accounting salaries because supply will increase. Great for partners. Bad for you. That’s what’s behind the push.
It’s an artificial barrier to entry. Removing it will decrease salaries. Question is by how much.
Drop it. It's a waste of everyone's time. I took a bowling class in college to get a credit. That has helped me zero in my career. Pretty chill class though.
I took basketball, nutrition and tennis as summer classes at community college to get to 150. 🤣 made me such a better accountant
The credits were not required additional accounting credits so what really was the purpose of adding the requirement? It should be dropped.
I'm not even mad—just think it's a bit silly to say, "I had to struggle, so the next generation should too." If things are easier for them, that's a good thing. Also, let's be honest—you didn’t need to do an MST. A BS and some additional community college courses could’ve worked just fine. Choosing to take on more than necessary doesn’t mean you should want others to go through the same student debt and hardship.
They are just bringing back the old rules where if you got your Masters degree you had a shorter time to licensing than just a Bachelor’s. It also allowed for pay discrepancies- Masters got paid more to start than Bachelor’s.
Yes.
Annoyed because I spent money on a masters that isn’t needed anymore. But will admit, it opened up recruiting opportunities into the Big 4, so not a total loss.
I also think it’s bad for the profession. Not in the sense that I think more credits equate to a better professional. But really it’s bad for employees. Lowering the credit requirement means increasing potential supply into the profession, which means lower wages for CPA’s that are not Partners.
That said, if you’re a partner, this probably doesn’t impact you in any way shape or form. Also, most partners probably got certified prior to the 150 credit hour rule. Which kinda shows that a master’s or additional credits doesn’t necessarily lead to success in the profession (ie making it to Partner).
Also, clients don’t give a shit. You’re either licensed or you’re not. But if you’re a shit CPA, they’re gonna think you’re shit regardless of how many credits you took.