Just last week, I returned from a Maryland State Board of Accountancy meeting where it was reported that applications for the CPA Exam and reinstatement of CPA Licenses were at record levels. When I asked them why they though the applications were pouring in, they said the reason is that many see the CPA license as critical during these tough economic times.
I was reminded of this in a post from our friends Francine McKenna over at Re:TheAuditorsand Roger Philipp's post Why Bother Becoming a CPA (over at Roger's CPA Exam Review). They discuss the major reasons to consider the challenging process of taking your accounting degree to a licensed Certified Public Accountant (I added the last two), Here they are:
- It's not as hard as you think (pass rates overall average 75%
- Earning your CPA makes cents (and dollars with an additional $720,000 over a 40 year career)
No one can ever take that accomplishment away from you (from Francine)
You can be part of the solution (CPA is a license to protect the public interest not a credential)
It is one of the top recession proof careers
Is it worth it? Watch this short video of Maryland's latest batch of CPAs who took the official oath pledging to protect the public interest and uphold the highest standards of the CPA Profession on June 17th, 2008 at the MDBIZEXPO(This year's ceremony is already scheduled for June 16th at the Baltimore Convention Center)
Roger did what any CPA should do - he calculated the difference in lifetime earnings over your career versus the costs of exam fees, review course and study time. Bottom line - the CPA career pays!
CPA Exam resources:
MACPA's CPA Candidate resource center - click here
AICPA CPA Exam site - click here