Is it just me or does it seem like every incoming college graduate seems to have their CPA? Kinda dilutes the whole thing. I understand there's a shortage, and so the AICPA is doing everything they can to increase the number of CPAs (reduce restrictions, increase pass percentages). It makes the senior associates w/o the certification look pretty bad.
Wouldnt be surprised if the interns start coming in having passed their exams and all they needed was the hours to get the certification.
Wouldnt be surprised if the interns start coming in having passed their exams and all they needed was the hours to get the certification.
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Here, even entry-level position requires minimum 1-2yrs. experience now.
when we were getting start dates for the fall, the recruiter reminded us that now (in the summer)is the perfect time to take the exam.
notfordisplay ~ I also see you have added your blog at the CPAnet Forum, it would be great if you could reciprocate by adding CPAnet (www.cpanet.com) to your list of sites. Thank you!
I just added your blog at CPA Blogger too.
Doesn't affect me, but it will for the profession if the number of CPAs increase. It reduces your bargaining power for $ and doesn't peg you any higher when you apply for jobs. If everyone gets them, it essentially wouldn't be highly valued anymore. Why do you think the AICPA tries to keep the pass rate around a certain percentage and not higher?
Also, 1st & 2nd years think that passing the CPA will give them better standing with the firm and shield them from being laid off...though in actuality I don't think passing the CPA is included in the lay-off metric.
Sadly, I have to correct you on the CPA metric. High performers have been laid off at my firm solely because they haven't passed the CPA. Believe me, this is a good excuse for the firms to cut payroll.
People want every edge they can get to land and keep their job. Motivation is 98% of what passing the CPA exam is about. People don't end up failing sections because they're not smart enough. A large majority of the time they don't pass because they don't put in the time (and productive time, you don't count 5 hours of study time when you spent 4 of those hours on Hulu).
And while the post above may be right to an extent that a CPA license isn't a bulletproof vest when it comes to layoffs, it's better to have it in the event you lose your job.
It at least gives you a leg up on those AP clerks. :P
Complacency in the industry led to a shortage of CPAs because promotions were flying just like home loans "back in the day" - suddenly you're looking at a promotion to partner and it dawns on you "OMG! I should probably get my CPA now!"
That attitude has shifted, THANKFULLY, and it is no longer acceptable for an individual to move up the public accounting food chain without their CPA. GOOD. That's how it should be. I don't care if it makes a difference or not, it's about jumping through the right flaming hoops.
You are right in that a surplus of CPAs might dilute opportunities but I don't think that's a concern in the short term. We've got to bridge that shortage first, THEN we can worry about what to do with all these CPAs.
The numbers are still a little depressing. I mean as far as candidates who actually pass and get licensed, not the numbers themselves which would be an entirely different subject.
I for one am glad to see the shift from complacency of bygone days. How many unlicensed managers can a firm have? Really?
Disclosure: I work in CPA Review. So of course I'm happy to see this trend change :)
Jr
p.s. to Anon June 27, 2009 2:49 PM, your CPA is NEVER worthless. That's like saying your driver's license is worthless because everyone else on the freeway has one too. Just sayin.