Top 5 Reasons to Become a CPA

Why should you work extra hard to complete the requirements to be a CPA?

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:

1. It's not as hard as you think (pass rates overall average 75%

2. Earning your CPA makes cents (and dollars with an additional $720,000 over a 40 year career)

3. No one can ever take that accomplishment away from you (from Francine)

4. You can be part of the solution (CPA is a license to protect the public interest not a credential)

5. 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

Comments

[Morgan]

Thanks for the shout-out to Roger CPA Review, Tom! Both Roger's and your post truly highlight the benefits of being a CPA. After crunching the numbers, I think that one can make no mistake about it - it is worth it in the long run.

[trompetapr]

If you really are CPA I shame on you. As a CPA you shouldn't be writing that kind of comment and avoid talking about our profession like you did it here. You better go to resing from your license and let people work

[FASB Galaga]

LOL. And just what kind of comment should I be writing as a CPA? Nothing I posted was untrue. Just because I'm a CPA doesn't mean I will follow along like another brainwashed office drone and pretend like this is a guaranteed great career. I'd much rather post the truth so that the pros and cons of accounting will be free of material misstatement in accordance with generally accepted living standards in the United Standards Of America.

[kmoore]

Thank you FASB Galaga for telling me the truth. I almost wasted my time getting an accounting degree. I have a feeling you are the only one telling the truth. Thanks.

[Johnny Galaga]

LOL. Meanwhile I was at a career fair today and asked someone from KPMG what's the most amount of hours you have to work per week and he said like 55. Enjoy your accounting degree. LOL.

[Tom Hood]

There is no question that accounting is not for everybody, yet the truth is that it remains one of the most stable and versatile jobs you can get. Many have found it to be an extremely rewarding career. Isn't it about time you found your calling and moved on from all of your negativity? I wish you future success and happiness.

[Simple Truth]

FASB Galaga is correct. A lot of my friends who are accounting majors are having lots of trouble finding work. The ones that do find work earn below average market wages. Seems like the best field to get into right now is energy - green tech. and alternative energy.