CPA with JUST 120 credit hours NEW rule in 2025!

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The Financial Controller

The Financial Controller

Күн бұрын

Пікірлер: 190
@Billy-ci2pz
@Billy-ci2pz 2 ай бұрын
As someone who has completed their 150 credits for the CPA, I wish this was implemented earlier as this could have saved me some money. However, I do like this change as less and less people are taking the CPA route as the requirements do not seem to justify the salary/compensation offered in becoming a CPA. I would value real world experience over education anyday.
@TheFinancialController
@TheFinancialController 2 ай бұрын
Well said!
@mz.loquacious
@mz.loquacious 2 ай бұрын
​@@TheFinancialController I honestly enjoy your videos & have learned alot! Thank you so much for sharing your knowledge with us all
@arthuram3428
@arthuram3428 Ай бұрын
but if they keep the upper division requirements, maybe you will need to take extra lessons, maybe close to 150 credits.
@tjkesteleyn
@tjkesteleyn 2 ай бұрын
As a CPA candidate, I see this as a great thing! I finished my Bachelor’s with 138 credits so I filled in my remaining 12 with other business/finance classes but in reality, they were unnecessary. I think this is going to be a great way to get more people interested in becoming a CPA as there isn’t an additional year of school and tuition required!
@TheFinancialController
@TheFinancialController 2 ай бұрын
On point!
@LibertyGarden
@LibertyGarden 2 ай бұрын
Great video. The 150 hour requirement was clearly a barrier to entry. The additional 30 hours are not even in accounting, just fluff. When faced with adding 30 additional hours of coursework, most students would opt for an MBA or Masters of Finance which pay more.
@bebdaumon3948
@bebdaumon3948 2 ай бұрын
You don't need to get an MBA. I went to college and got the 150 credit hours. You take classes like governmental and nonprofit accounting, auditing, etc. You're supposed to talk to your counselor that you plan on getting your CPA. they will tailor and get you special approval for those classes. I got the 150 credit hour and don't have an MBA. Most universities does this but you have to tell your guidance counselor that you plan on going for the cpa. Most don't ask this and some don't even talk to the counselors which makes them just take the 120 credit hour. I cannot get the CPA designation because I need 1 year work experience. I cannot get any entry job nor internships. There's too much gatekeeping in my area that only people that they know get hired and it doesn't matter what credit hour you have nor what GPA you have. Most hire in my area if you have a recommendation letter from employees within or from a CPA. That's why we have these shortages.
@LibertyGarden
@LibertyGarden 2 ай бұрын
@@bebdaumon3948 I think you missed the point of my statement. You should have gone for the MBA or Masters of Finance instead of the fluff. It would have open your career to a lot more options. Counselors don't know much. Be careful trusting your future to them.
@bebdaumon3948
@bebdaumon3948 2 ай бұрын
@@LibertyGarden I understood the statement. My point those degrees are worthless in the sense you need work experience. The whole point of a bach degree is to get an entry position so you can gain experience. Once you gain experience you then get the employer to help with the cost of the MBA. Me going for the MBA and to pay out of pocket for it. It's alot of expense. I have the money but the issue I have is why? If I get the MBA is it going to get me a job? Most jobs that require MBA's require you to have work experience in the senior level as an accountant. My dad told me that the only thing value in the business major is the CPA. That was the only thing that holds value. You don't go for a MBA unless a company t hat you work for will have an opening and normally they pick you for the position but will have you get your MBA in t ransittion but in those days they would have someone retiring and they would say while the company finds who will replay them. They then offer a program where they will help pay for the MBA degree and once you get the degree you will then relive the person that is retiring form their duties and take over the position. My dad told me that the CPA is the only thing that holds value in a business major. I heard it from my CPA professors and many other people have said if you want to major in Business go for accounting and aim to get the CPA. So, why should I go and pay more to get an MBA spend another 2 years in college and then come out of it with no job. Experiences matters more than degrees right now. That's according to what I see daily for jobs being offered. They care more about work experience than what degree you have. I am not going to spend a ton of money to get an MBA to find out I will be at the same spot with no job.
@MrTush25
@MrTush25 2 ай бұрын
The 150 hours need to be business major credit hours and out of the 150, 30 need to be accounting. I wouldn’t say that the 30 are fluff.
@LibertyGarden
@LibertyGarden 2 ай бұрын
@@MrTush25 Not sure where you are, but in TX, the requirement is 150 hours of total college credit, of which 30 hours need to be upper-level accounting courses. The degree does not even have to be in accounting. So yes, the extra 30 to reach 150 college hours are fluff, since the undergraduate accounting degree covers the required 30 upper-level accounting hours.
@Sharpshooter649
@Sharpshooter649 2 ай бұрын
They can fix the “shortage” problem by making the exam experience more comfortable. My Prometric center is constantly sold out and the exam fees are very high
@deltaforce4477
@deltaforce4477 21 күн бұрын
That's not the only problem; I am also hoping to pursue a career in accounting myself and the steps still seem daunting at times.
@jamid87
@jamid87 2 ай бұрын
I was going to enroll in a Master's program next year, but I may be saving tens of thousands if they implement this. I already have 7 years of experience and am currently working under 2 CPA's. This is pretty dope.
@arthuram3428
@arthuram3428 Ай бұрын
if they keep the upper division requirements nothing has changed, unless you graduated in an accounting program
@basicallyaren8567
@basicallyaren8567 2 ай бұрын
I’m enrolled in my bachelors in accounting this would be good news!
@pingus6315
@pingus6315 2 ай бұрын
Bruh why is this section full of salty out of touch boomers, i think the elitism within the profession is definitely another push factor. At the end of the day we are all just trying to find a career which gives us ample opportunity whether were accountants or doctors.
@emilyau8023
@emilyau8023 2 ай бұрын
Loud people are not always the smartest. Remember that.
@zoe.will.
@zoe.will. 2 ай бұрын
I am a year away from finishing my Bachelor's in Accounting- and I am relieved to hear this! 😌 Now I can focus on gaining experience and finishing my degree. Less time, energy, and money spent is a win, win, win in my book! 👌
@sonia428
@sonia428 2 ай бұрын
Also working now in field. This makes me so happy!
@bebdaumon3948
@bebdaumon3948 2 ай бұрын
The reason for the shortage is mainly many organizations are gate keeping. they hire their friends and family that have no intention to get their CPA in positions that require you to eventually become a CPA. I got the 150 credit hours. I cannot get any internships nor any entry jobs because most entry jobs I find require 5 to 10 years of work experience. I keep on applying to those even though I have 0 work experience. I keep applying to internships but they grab people with the highest GPA. Yet, I know people that were my class mate that graduated with a 2.5 gpa and had only 120 credit hours. He works at a regional firm because he knew someone inside that gave him a recommendation letter. This isn't going to fix the shortage because they're catering to those that didn't want to follow the original rules.
@auririvera6122
@auririvera6122 2 ай бұрын
I am so sorry to hear your experience in 8:12 searching a job. I know it is not easy , it is a challenge but not impossible . I hope you will get your ideal job
@bebdaumon3948
@bebdaumon3948 2 ай бұрын
@@auririvera6122 I am currently studying for the EA exam.. the enroll agent exam. I passed the 1st test. Taking the 2nd one soon and will take the 3rd after. I just hope I can get some kind of job once licensed to do taxes or at least be employable. It's just frustrating. I even went door the door to small businesses even saying will work for minimum wage. They laughed and said why would I need an accountant. Some businesses don't file any tax returns and never did their books. They pay people under the table and told me they don't need such a service. Then there's some places that highschooler to do their bookkeeping and accounting. I even had a highschool class mate that had the CPA and he let it expired. He told me the local area no one respects CPA's they think the job is easy to do that anyone can do it. He works for a school district. He used to make 100k working for a regional accounting firm. He left due to the workload and once he started working at a school district. He gets paid 50k a year and he let his CPA license expire. So, it's confusing to know if it he CPA is even worth it. I hear both sides people for it and people against it.
@babblesp1367
@babblesp1367 2 ай бұрын
Go to a staffing agency. Also, consider a lower position so you can get your foot in the door and start gaining experience. You can always move up.
@bebdaumon3948
@bebdaumon3948 2 ай бұрын
@@babblesp1367 How low of a position? I am currently a biller for a urgent care company. What is a lower position than an entry position? The reason I ask is that most places want you to have experience doing specifically the accounting job that is open. So, if you did A/P for 5 years then apply for a job that is A/R that A/P 5 year work experience doesn't count for A/R so they will look at you as if you have zero experience doing A/R. I have paid $300 for kelly services which is a a temp st staffing company and they g ot me like 4 interviews but they told me that I need to get experience and do multiple jobs. I need to learn cyber security and a lot of IT stuff. One company wanted me to do Accounting work plus IT work. Like buying the servers and setting them up and then getting their accounting software to sync up to this new location. I even years ago tried accounting temps another staffing company. I learned after t hat I get paid minimum wage and these companies charge anywhere from $25 and $35 an hour. So, the companies I interviewed for most of them want their money worth. Yet, from those companies there's no CPA that I would be under their supervision. I was still for it because I wanted to get experience doing the job. However, most of my encounters with these companies they have hig h expectations like I should help them fig ure out how to pay zero taxes like how Apple and other Major companies do it. These are companies that are not large. Just either small, startups, or mid-sized companies.
@HUMAN-VERSION4
@HUMAN-VERSION4 2 ай бұрын
Exactly my firm hired three seniors just because it came from KPMG they said they were taking the CPA exam not one of them has taken the exam and they were being paid $75,000 and 2020 I didn't say I wasn't going to take the exam because I really wasn't and now that I am a CPA neither of the people who I started with or the ones that were hired outside have a CPA and I do and somehow I'm only making 90k and they're all making 125 Plus
@RVC0902
@RVC0902 2 ай бұрын
Compared to the Canadian CPA, seems easier. We require 30 months experience in Canada + CPA PEP program (6 modules) + 3 day CFE (case based exam that are 4 to 5 hours each day). It’s brutal here. The 30 months experience is also a rigorous documentation process. Most do it in Big 4.
@mohammedosman88
@mohammedosman88 2 ай бұрын
Ontario CPA student here, how is your experience claiming practical experience if you are not in big 4?
@hmasgharkhan
@hmasgharkhan 2 ай бұрын
The very reason Canada in lossing big time.
@Oof316
@Oof316 2 ай бұрын
As the only one of my friends to graduate in 2024 and not purse a Master’s immediately, this makes me SO happy!! 🎉 Thank you for the update!
@babblesp1367
@babblesp1367 2 ай бұрын
I graduated in 2017 with a bachelor’s. I’m only doing AP! I had thought about the master’s, but I didn’t want to pay for it because I had no experience either.
@babblesp1367
@babblesp1367 2 ай бұрын
I finished my bachelor’s degree. Unfortunately, I only do AP, but I chose NOT to go for a master’s because I didn’t want to pay for it with no job guarantee. It’s nice to hear this consideration because that means I might not even have to do after all.
@CPATuttle
@CPATuttle 2 ай бұрын
I've never heard of someone not becoming a CPA because of credit hours. Either they can't pass the CPA exams or they choose a higher paying career.
@OKREDHOT
@OKREDHOT 2 ай бұрын
They should ease the access for international applicants, by simplifying registration process, lowering fees, not to have to register to a specific jurisdiction, to require work experience verified (and not necessarily supervised) by a US CPA, to open more international test centers, ... like for the CMA
@markmower1746
@markmower1746 2 ай бұрын
Yeah that 150 credits is borderline ridiculousness. If you want to get a master's in taxation or some other accounting specialty that's great. But to sit on the CPA examination?
@eastwood7941
@eastwood7941 2 ай бұрын
not at all, that 150 credits works wonders for any accounting students or professionals. Think if current medical/dental/law school say we are going to lower the requirements so more people can be a doctor/dentist/lawyer easier. People don't mind going to school for years to become those professions because they know once they finish they will get paid $$$$. If accountants are getting paid that much money, no one will mind getting 150 or even 180 credits. Lowering education requirement just means there will be more lower quality accountants and more accountants from lower class/poor families. people from poor families tend to not mind eating hours, working really long hours for less pay and etc. This is going to make the profession even worse than it is now. this profession is going to be known as the sweatshop profession(it kind of is already). You are essentially diluting this so called "prestige" the little prestige that accounting has left.
@markmower1746
@markmower1746 2 ай бұрын
@@eastwood7941 why bother debating. This field's probably going to fall to AI in a matter of 5 years.
@lordjoey9505
@lordjoey9505 2 ай бұрын
If you believe AI will eliminate our field, you’re an idiot.
@ttvclovxes
@ttvclovxes 2 ай бұрын
@@markmower1746no it will not. No matter how much AI takes over accounting it will never fully replace it. Gonna need teams to review all the work the AI does bc it’s not 100% accurate and AI makes mistakes as well.
@markmower1746
@markmower1746 2 ай бұрын
@@ttvclovxes what about the robot from Lost in space?
@JABabe777
@JABabe777 2 ай бұрын
I wish they would do something about the “sign off by CPA” requirement. I have currently passed all four sections of the CPA exam, have 150 credit hours and found out my CFO’s license has lapsed so I haven’t been able to get my license. The disadvantage of working in corporation.
@TheFinancialController
@TheFinancialController 2 ай бұрын
I agree that they should relax this requirement. My first job, I missed 3 days from the 1 year requirement and had to find the right manager in the next job to sign off
@juicysmith38235
@juicysmith38235 2 ай бұрын
I sadly completed my MBA in accounting a yr before this change. I had to take additional accounting courses as well since my undergrad was in finance. I probably wouldn't have pursued the MBA in accounting had I known this change. I am not happy with the lowering of standards to attract more people. A few bad actors caused more rules/regulations and now that people aren't interested in the requirements they now want to lower standards? In my opinion This will only help decrease the value of a CPA considering it requires less educational requirements... how could you demand more 💰 with less requirements?
@juicysmith38235
@juicysmith38235 2 ай бұрын
Alos, Texas already lowered their standards
@TheFinancialController
@TheFinancialController 2 ай бұрын
The profession is such shortage right now/near term that an influx of CPAs will still be well compensated simply because they are needed as 75% of CPAs are nearing retirement
@emilyau8023
@emilyau8023 2 ай бұрын
Should lessen the requirements more since they're so desperate. Don't think the board should ask for opinions from people who already have a CPA since most will have the mentality that "well, I went through it so they have to as well!" The opinions and acceptance should be from those without a CPA cause then they'll see the demand.
@therealmcgoy4968
@therealmcgoy4968 Ай бұрын
Who’s to say that will pay you more now? Since you have less educational requirements then they can pay you less.
@StupidJellyfish
@StupidJellyfish 2 ай бұрын
After coming out of college with 148 units, this will definitely help lol.
@reesee175
@reesee175 2 ай бұрын
I'm already halfway thru my MBA program. Already have an offer from EY and currently in their fall audit internship. EY is rolling out a new program called " EY Career Path Accelerator" to help new staff achieve the CPA.
@davidmm3111
@davidmm3111 2 ай бұрын
You're in which State that EY is offering that
@reesee175
@reesee175 2 ай бұрын
@@davidmm3111, Virginia.
@amazingwormy8453
@amazingwormy8453 2 ай бұрын
Congrats!
@reesee175
@reesee175 2 ай бұрын
@@davidmm3111, Virginia
@rowanwood5397
@rowanwood5397 2 ай бұрын
"In five years from now, 75% of current accountants will no longer be working." that sounds like a crisis is about to occur. except there is offshoring and why are big accounting firms making layoffs if there is a shortage? and why don't CPAs unionize?
@anabon6698
@anabon6698 Ай бұрын
Thank you for your knowledge. I’m relieved to hear this
@TheFinancialController
@TheFinancialController Ай бұрын
Glad it was helpful!
@jmg567
@jmg567 18 күн бұрын
The 150 credit requirement was always a joke as the extra credits beyond 120 from a bachelor’s degree did not even need to be related to the accounting field. Candidates literally would just take random courses to meet the 150 requirement, it makes zero sense
@landonwilliams7111
@landonwilliams7111 2 ай бұрын
I am so excited to hear this!
@deltaforce4477
@deltaforce4477 21 күн бұрын
I think requiring someone to have a Ba or an MA in accounting seems a bit much to ask for, I think having job experience and some knowledge background is more important than ever before.
@amalali4466
@amalali4466 2 ай бұрын
well thank you for your video, kindly request you to do one video for CPA Australia and updates
@christophercyarn2nd
@christophercyarn2nd 2 ай бұрын
Right on time! 🎉
@eaglefoot1977
@eaglefoot1977 12 күн бұрын
Very informative. Thank you.
@TheFinancialController
@TheFinancialController 12 күн бұрын
Glad you enjoyed it!
@makhulwanamagoro5330
@makhulwanamagoro5330 13 күн бұрын
Can you start training when you are still studying? Maybe if you are studying part time?
@marcmadnersho
@marcmadnersho 2 ай бұрын
The 1 year should be on top of the other. If money is the problem then having an extra year instead shouldnt be a problem
@derinsider3438
@derinsider3438 22 күн бұрын
@the Financial Controller....i am based in Germany(not USA). Should i go for CPA or ACCA? Im asking this because, per my understanding, CPA is mostly used in USA.
@hyunchul6803
@hyunchul6803 Ай бұрын
Anyway, passing the exam is the real barrier to becoming a CPA. The rest of the requirements are just time-consuming.
@auririvera6122
@auririvera6122 2 ай бұрын
Thank you very much for explained so easy and quick this proposal . This is a great opportunity for me to pursue this upcoming year . Oh help me God
@sunilkumar-xp3qh
@sunilkumar-xp3qh 2 ай бұрын
Things are never as easy and as simple as it looks.
@makeittrades5750
@makeittrades5750 2 ай бұрын
Great news and thank you for sharing it!
@TheFinancialController
@TheFinancialController 2 ай бұрын
Any time!
@OnlyDimitri
@OnlyDimitri 2 ай бұрын
Usually 20% of new hires quit or being forced out when it comes to the Big Four. Lowering the standards is gonna be beneficial for the private sectors but not the Big Four.
@kristinaacct
@kristinaacct 19 күн бұрын
But with the experience that you get within 1 year, wouldn’t you be in pursuit of meeting those competencies anyway? The majority of those who have masters, earned over 150, and taken all 4 parts before BEC was removed would be deemed more credible versus someone who didn’t. CPA license has high standards for a reason. Not supposed to be a cakewalk.
@TheFinancialController
@TheFinancialController 17 күн бұрын
Fair point, and more on this will come out soon from the AICPA in early 2025
@shelisaballard2111
@shelisaballard2111 2 ай бұрын
I do have a question. I had received my Bachelors degree in accounting last year, but wasn't sure on taking the extra 30 credits. Will I still be eligible to take the 120 path?
@TheFinancialController
@TheFinancialController 2 ай бұрын
Yes, I believe so. Remember, it's still in draft mode and though it's expected to become a new rule, it still not as of today
@wendysalas4896
@wendysalas4896 2 ай бұрын
This is great news!
@TheFinancialController
@TheFinancialController 2 ай бұрын
100% ❤️
@TaproomCoach
@TaproomCoach 2 ай бұрын
I think they hid it but it’s actually two years experience is what I heard
@eurasiacentertutorials9518
@eurasiacentertutorials9518 2 ай бұрын
Doesn't this kind of devalue the CPA significantly?
@alfredoreza1064
@alfredoreza1064 12 күн бұрын
Did this ever go into effect? & what states is this being affected by?
@TheFinancialController
@TheFinancialController 8 күн бұрын
Not yet, hopefully in early 2025, and it should impact all US states if it goes through.
@alfredoreza1064
@alfredoreza1064 6 күн бұрын
@@TheFinancialController for sure thank you
@MountLebo
@MountLebo 21 күн бұрын
Hi Bill, I’m an immigrant who live in U.S and I have a CPA credential in my home country since 2016. What is the criteria for immigrant or foreign professionals to become a U.S one?
@TheFinancialController
@TheFinancialController 21 күн бұрын
CPA is a US certification. If you obtained an equivalent license in another country, I don't think it's transferable. You'd need to apply with the specific state board where you reside and show them you have the requirements: 150 credit hours, 1 year work experience, and pass the US CPA exam.
@ForamMehta-m3g
@ForamMehta-m3g 2 ай бұрын
Hi, I am graduate and done certificate iv and Diploma so what i have to do next, I recognize my degree in CPA so I have to give first three subject in Foundation than eligible in Program. Please advice me now whta i have to do. Thanks
@spoonmanftw
@spoonmanftw 4 күн бұрын
About to move to Austin and pursue becoming a CPA. I have my bachelors in Finance. Does anyone know what my best steps forward are and if this video applies to me?
@TheFinancialController
@TheFinancialController 2 күн бұрын
This video applies to anyone who plans on becoming a CPA. Simply review the requirements in the state you plan to get your license from. Make sure you have the right course requirements. Next, keep up with the news on the 120 vs. 150 credit hour question, which should be published in 1st quarter of 2025
@ordonezo1
@ordonezo1 2 ай бұрын
The only reason I didn't become a CPA was because I didn't want to get into more student loan debt and in my branch of work it was not needed to grow. Now, you're telling me the AICPA waited for 75% of its members to be at retirement age to implement this change???? Sorry, but the stubborn old timers on the board messed up big time, this is too little too late, no way they're going to fill that gap in 5-10 years.
@lawrencebrown8821
@lawrencebrown8821 2 ай бұрын
What about degrees in the 120 hour path, are they still requiring an accounting degree or can you get something else? And have the 30 credit hours to sit?
@TheFinancialController
@TheFinancialController 2 ай бұрын
Yes I believe still needs to be an accounting major
@xvclshiraz862
@xvclshiraz862 2 ай бұрын
Thank you so much
@jaynesteinmetz9039
@jaynesteinmetz9039 2 ай бұрын
Thank you, Bill. Do the 120 credit hours have to be classroom hours?
@TheFinancialController
@TheFinancialController 2 ай бұрын
I believe so
@jaynesteinmetz9039
@jaynesteinmetz9039 2 ай бұрын
@@TheFinancialController thank you for your response
@t.1934
@t.1934 2 ай бұрын
I donot have a Bachelor's degree but 120 Credits. Can I sit for exam?
@1jamesreed
@1jamesreed 2 ай бұрын
It looks like it will be 120 credits plus one year experience plus one year in seven categories.
@ntylesss208
@ntylesss208 2 ай бұрын
I didn’t learn shit in school. Wish I could have just taken the cpa exam without a degree. Not sure why they think school matters so much.
@babblesp1367
@babblesp1367 2 ай бұрын
I had changed careers. I worked in production for 15 years, then became a stay at home parent. That’s when I went back to school and got my bachelor’s degree (no further education beyond high school when in production). I currently do AP. How😅, had I NOT gone to school, there is absolutely no way anyone would have given me a chance to make a career change. Sometimes, you need that very expensive piece of paper just to show you’re capable, otherwise, nobody will give you a chance.
@ttvclovxes
@ttvclovxes 2 ай бұрын
@@babblesp1367that paper sure does wonders, just accepted an offer with the Big 4 and I go to an online college. Proof that no matter how hard you try you can accomplish it!
@JcksnACC
@JcksnACC 2 ай бұрын
You still would have to take the 4 exams correct? These are just the requirements to be cpa eligible correct?
@TheFinancialController
@TheFinancialController 2 ай бұрын
Yes
@marcmadnersho
@marcmadnersho 2 ай бұрын
It's a good thing UIUC is cheap and I just finished it this year 😢😢😢
@kynes.
@kynes. 2 ай бұрын
Can I get reimbursed for my 30 credits?
@TheFinancialController
@TheFinancialController 2 ай бұрын
Lol
@hellomoto3.14
@hellomoto3.14 2 ай бұрын
Hi! Which states are proposing these new CPA requirements? will this apply for illinois?
@TheFinancialController
@TheFinancialController 2 ай бұрын
This should be available in all states, with very few exceptions. Remember, this is not a rule yet, it's still in proposal stage, but looks in good shape to pass
@Dakid015
@Dakid015 2 ай бұрын
How do you nail down the GPA in a difficult field like accounting? It seems like with the weeding out accounting profs do not every student is going to be able to get a high GPA. What are some tips to getting a high GPA in accounting? Besides just studying a lot
@TheFinancialController
@TheFinancialController 2 ай бұрын
My trick was to always understand the concept inside the classroom, meaning never leaving with any ambiguity or not understanding, thinking that I can read about it later. If I felt shaky, I told the prof I don't understand.
@babblesp1367
@babblesp1367 2 ай бұрын
@@Dakid015 actually doing the work and turning it in. You have to remember that many people in college don’t always turn in their work on time, therefore, that lowers their GPA. Sometimes, it’s just making an effort. However, a passing grade is a passing grade. So, it won’t really matter what your GPA is as long as you pass. After your first job, your GPA won’t mean squat. Just make an effort to pass.
@Dakid015
@Dakid015 2 ай бұрын
@@babblesp1367 Thanks for your reply, but TFC is talking about getting a high GPA. Accounting as I see it is one of those technical fields that really requires you to know your stuff if you plan on working at a top firm or company. As TFC hinted I'd imagine big 4 firms and even national firms want students coming in with more than just a passable grade average. If big 4 brings in those with just a 3.0 GPA (or lower), how can they demonstrate to the client their high level of accounting knowledge? I don't see how that's good for business. But maybe that's where the whole experience comes in
@Kornsker
@Kornsker 2 ай бұрын
Thank you for making this video Bill! What about upper-level accounting 30 credit?
@TheFinancialController
@TheFinancialController 2 ай бұрын
Not sure I understand. Could you ask another way?
@Kornsker
@Kornsker 2 ай бұрын
@@TheFinancialController I’m wondering if I will still need to do the 150 credits to get the actual license? Will this affect all states the same? In my state i’m reading that i will still need to do 150 credits to get the license, but to sit for CPA exam i will only need 120. What do you think? Also, will any bachelor’s degree with 120 credits work for these new rules, or does it have to be related to Accounting? Thank you for your time!
@emmanuelagyepong739
@emmanuelagyepong739 2 ай бұрын
@@Kornsker The proposal mentioned in the video has not yet gone into effect. The 120 hours for the exam and 150 hours for the license are the current requirements. I believe if the proposal gets accepted, the requirement to sit for the exam will be 120 hours, and the requirement to get the license will also be 120 hours.
@Kornsker
@Kornsker 2 ай бұрын
@@emmanuelagyepong739 I see. Thank you for your answer. Do you think if the proposal gets accepted, any bachelor's degree with 120 credits would work for the requirements? or should the degree be accounting?
@christinesworld19
@christinesworld19 2 ай бұрын
So not fair for those who have 150 hours. Wish they can cut the 150 hours some slack in other areas such as a sign off or easier score 😂
@mohamedsawaneh2062
@mohamedsawaneh2062 2 ай бұрын
I‘m a master degree holder, i would like to start my CPA early next year 2025. can you please advise me if I should choose the current pathway or the new pathway that’s about to be adopted?
@TheFinancialController
@TheFinancialController 2 ай бұрын
If you hold a masters, then the current pathway is best so you only need 1 year experience (without needing the 7 competencies)
@mysavingworld5673
@mysavingworld5673 2 ай бұрын
Must your experience come from public company or is industry okay?
@TheFinancialController
@TheFinancialController 2 ай бұрын
I believe industry is ok
@abumohd1754
@abumohd1754 2 ай бұрын
Hello Bill, Is there an oline exam for cpa
@TheFinancialController
@TheFinancialController 2 ай бұрын
no, it's an in person exam
@frank8348
@frank8348 2 ай бұрын
I wasted a year and thousands of dollars when I made entry level pay it seems.
@farwar9240
@farwar9240 2 ай бұрын
Is there a gpa requirement for the new pathway?
@TheFinancialController
@TheFinancialController 2 ай бұрын
Not as of now. But it’s an interesting idea!! If your GPA is 3.9, perhaps lower the requirement?? Interesting for sure
@lordjoey9505
@lordjoey9505 2 ай бұрын
All the people with lower standards are happy about this.
@tw2800
@tw2800 2 ай бұрын
Greetings Mr Hannah I am woneering why we always here of major accounting firms laying off hundreds of accountants while we are simultaneously bombarded with news of "accounting shortage?"
@hmasgharkhan
@hmasgharkhan 2 ай бұрын
This is all bluff, basically its CPA that is making loss, there are much better options are available these days than having CPA.
@reymurad
@reymurad 2 ай бұрын
I took time off to finish the CPA now no one wants to hire me. I am going to leave the profession.
@ttvclovxes
@ttvclovxes 2 ай бұрын
If you have a CPA license and a decent resume, there is no reason you shouldn’t get a job. Apply to Big 4 or some mid size public firms if you want to. They will sweep you off your feet. They NEED people with CPA licenses
@reymurad
@reymurad 2 ай бұрын
@@ttvclovxes yeah no one wants me
@makeitnew
@makeitnew Ай бұрын
In 5 years Ai will make up that 75% of that gap
@ltran6535
@ltran6535 22 күн бұрын
This is too late for me 😢.
@ErinLAnderson
@ErinLAnderson 2 ай бұрын
Thx
@CalebsCorner704
@CalebsCorner704 2 ай бұрын
I'm considering buying becker to start studying for the CPA. I am entering my junior year for a bachelor's degree. Is this a good time to start studying for the CPA?
@TheFinancialController
@TheFinancialController 2 ай бұрын
Hi. The CPA Exam will still be there, ready to challenge you, after finishing college. If you prefer to start your CPA Exam studying while still in school, keep in mind that you cannot apply and sit for the exam until you've met your state's education requirements.
@josephnicolas6754
@josephnicolas6754 2 ай бұрын
The solution to the shortage is to make it easier? Terriable. This will only drop the credibility of the CPA title.
@bsparkle2166
@bsparkle2166 2 ай бұрын
It used to be 120 then switched it to 150 about 8 years ago. That's one of the reasons why I didn't pursue it anymore. Plus the years of experience under the CPA was not achievable for me since my work experience did not involve working with a CPA. I did work with a CFO that knew more than a CPA and is way more competent than a person who is a CPA. The CPA experience still not doable for me.... Thank you for the info! Even if people want to just be accountants, the compensation is not great. Neither is for auditors... :( I don't think I would have survived with an Accountant salary if I hadn't had experience with Financial Systems as well. Accounting + Information Systems = Perfect Combination :)
@joaquinanthony206
@joaquinanthony206 2 ай бұрын
🔥
@sonia428
@sonia428 2 ай бұрын
Getting my BA now
@HUMAN-VERSION4
@HUMAN-VERSION4 2 ай бұрын
This is stupid so they're lowering the standards for people who don't really have the education and background how is this even good for the CPA profession this is terrible and what about us who got 150 units before this are we going to get our money back
@lordjoey9505
@lordjoey9505 2 ай бұрын
This is STUPID and means those with Masters in Acc SHOULDN’T need 1 year of experience, unlike the lazy people who opted for just a bachelors.
@vibrantnubian27
@vibrantnubian27 2 ай бұрын
You sound so bitter! And before you assume I completed my MSA and CPA already.
@lordjoey9505
@lordjoey9505 2 ай бұрын
@@vibrantnubian27, bitter because its very true. Anyone happy about this has lower standards.
@erikasherman5258
@erikasherman5258 2 ай бұрын
Or they simply can’t afford to get their Masters…
@shawnsnow6413
@shawnsnow6413 2 ай бұрын
Oh great, let's lower the standards to get a CPA license because less people are taking it. They've already increased the time frame to 30 months, allowed multiple tests within a window, and now the education requirement is being reduced. Might as well hand out CPAs to everyone. Certified participation award.
@TheFinancialController
@TheFinancialController 2 ай бұрын
I understand your concern. Let's keep in mind they will reduce the time spent in the classroom but replace it with 1 year of hands on experience.
@airbound1779
@airbound1779 2 ай бұрын
Bad take
@infiniteabundant1176
@infiniteabundant1176 2 ай бұрын
Another CPA has to sign off on it though....
@shawnsnow6413
@shawnsnow6413 2 ай бұрын
​@@TheFinancialControllerso Basically you just have to work for a year and the person you work for is going to sign off. The same as it is now?
@shawnsnow6413
@shawnsnow6413 2 ай бұрын
​@@infiniteabundant1176a CPA already has to sign off on your one year experience
@sams7635
@sams7635 2 ай бұрын
They should allow proper breaks and lower fees during exams..I've switched careers now
@1MinuteFlipDoc
@1MinuteFlipDoc 2 ай бұрын
switched to which new field/career?
@ariathebeagleandprincesamix
@ariathebeagleandprincesamix 2 ай бұрын
Just taking a Master to complete the 150 credits!
@TheFinancialController
@TheFinancialController 2 ай бұрын
It's ok, you can still go with the 150 + 1 year experience, without needing this new competency requirement
@ariathebeagleandprincesamix
@ariathebeagleandprincesamix 2 ай бұрын
@@TheFinancialController thank you for this video
@TyroneLangam
@TyroneLangam 2 ай бұрын
@@TheFinancialControllerYeah I don’t trust anyone enough to sign off for me lol
@LJ-jq8og
@LJ-jq8og 2 ай бұрын
ITS a MISTAKE ❗ 🔥... Sounds like another "DEI" disintegration of American professionalism to me ...
@Kassav85
@Kassav85 2 ай бұрын
@LJ-jqBog You missed an opportunity to intelligently contribute to this discussion. What a shame!
@Thefinancegirlie
@Thefinancegirlie 2 ай бұрын
How tf is this DEI? It has absolutely nothing to do with DEI…
@LJ-jq8og
@LJ-jq8og 2 ай бұрын
@@Thefinancegirlie IDENTITY politics DISINTEGRATE everything by "lowering standards" to incompetency ! Thats how ! It's another "abandonment" of competency for short sided purposes. IF you dont think this "push" isn't designed to also enable incompetents then you wont "get it..."
@LJ-jq8og
@LJ-jq8og 2 ай бұрын
@@Kassav85 OH another "virtue signaler" HI 👋 🤣🤣🤣
@Kassav85
@Kassav85 2 ай бұрын
@@LJ-jq8og A derogatory way of dismissing someone's argument is yet another missed opportunity to contribute positively to this discussion. Please help all of us understand your comment which has no correlation to the topic at hand. Looking forward to a healthier discussion from you. But if you have none, then we really understand and will leave it to that.
@yolandaosborne1848
@yolandaosborne1848 2 ай бұрын
This is great news!!!
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