Re: Accounting - Excelsior CPA track Sorry to see that nobody replied to this, because I have the exact same question. I have read through my state's (Colorado) educational requirements (found via the NASBA web site) and have determined that the Excelsior degree will work. Colorado has no restrictions against testing or DL for the CPA exam, unlike some other states (such as Florida). I simply have to ensure that I meet the state's requirement of: 27 credits in accounting, distributed as: -at least 21 in taxation, cost accounting, theory -at least 3 in auditing plus at least 21 credits in business with no more than 6 credits in each business subject area. Colorado is one of only two states that has not adopted the 150 credit rule. However, with 150 credits in Colorado (basically an M.S. in Accounting), one may sit the CPA exam with absolutely no work experience Big if, since I never know what I want to do for a living, but IF I go this route I will be challenging the BAin4Weeks concept to an extent. I'll be "cheating" since I already have a B.S. from TESC. Also, there aren't enough CLEP/DANTES/TECEP/ECE/Ohio exams to meet all of the accounting requirements, so some classes will be required. Once I pull the info together I'll post it and let you know. Heck, maybe if I do this I'll start a "progress" thread like unixman and others have done, but do it for "0 to CPA" time/progress. I wonder if anybody else on this board has ever conducted an absolute career change in a short time span via DL. That'd make for some interesting discussion. Toodles! -JassenB
Accounting degree by exam Rina: I have pieced together a preliminary exam schedule for the BS in Accounting, CPA track. Do note that the major difference between my proposal and the as-written Excelsior plan is that my state requires 27 credits of accounting, versus 24 for New York state, at least in order to sit the CPA exam diet. Since I already have a B.S. from TESC, I'm hoping Excelsior will accept most of my general education credits. Excelsior has an Ethics requirement, and I'm assuming that they will accept my TESC upper level Business Ethics course from my first degree. I am lacking a macroeconomics course, so I am going to take the CLEP Macroeconomics exam. For the business core, I already have an Introduction to Finance course, but will need to take a TECEP exam in another finance area to meet the 6-credit minimum for the accounting track. The rest: CLEP Principles of Accounting CLEP Business Law CLEP Principles of Management (if they do not accept my military Principles of Supervision) CLEP Principles of Marketing ECE Operation and Productions Mgmt ECE Business & Policy ECE Organizational Behavior TECEP ACC-421-TE, Taxation DANTES Business Law II (part of CPA track requirement) The rest of the CPA track requirements are things I have so far been unable to find standardized exams for. Louisiana State University offers all of the exact courses I need, however, via self-paced, 3 credit courses that can be completed in only 5 weeks each, and they cost $229 each. It almost makes me wonder if LSU intentionally made those courses available to enable Excelsior students to graduate. Another option that I have available is to take challenge exams that are developed and administered only by Colorado State University, which is just up the road from me. So, either by challenge exam at CSU or correspondence course at LSU, I will take: -Intermediate Accounting I and II -Cost Accounting -Advanced Accounting -Auditing Practices If anybody can suggest other testing programs that may have such courses by examination, I'd appreciate link. I don't think that CLEP, DANTES, ECE, TECEP, or Ohio have them. Take care! -JassenB
Check with your professional association of accountancy in your country such as the CPA and the CMA. If not email the International Federation of Accountants www.ifa.org to get an answer.
Colorado CPA track via testing and DL I have decided to follow a Finance/Real Estate track for my Excelsior College business degree, so I'm really just posting this just in case somebody in the future comes across here looking for how to become a CPA in the state of Colorado (or a state with similar requirements) via DL. Colorado law requires the following: 27 hours in accounting subjects, of which 21 must be in specialized accounting courses such as -cost accounting -tax -intermediate accounting -accounting theory -advanced accounting AT LEAST 3 of the 27 hours must be in auditing (under GAAS). Transcripts MUST indicate an accounting program code Plus....at least 21 hours in other areas of business such as: -business law -management -marketing -statistics -business communications -economics -finance ...but no more than 6 s.h. in any one area. All credits must be RA. ...plus one year experience to be a CPA. There is also another option of obtaining an additional 30 sh of non-duplicative coursework (i.e., a Master's degree), distributed as 18 credits in accounting and 15 in other business areas, not to exceed a total of 9 in each area (yes, that's more than 30...). Therefore, if you are going to pursue this option using the Excelsior College program, I actually suggest enrolling for their BS in Accounting, General (program code BAG) rather than the New York State CPA Track, due to the different DISTRIBUTION of requirements. So, here's my Excelsior College Colorado CPA Track program, mainly through testing. 60 semester hours (sh) in General Eds, which includes Microeconomics (CLEP) and Macroecomics (CLEP). For the business core: CLEP Principles of Accounting (6 credits, satisfies Excelsior Financial Accounting AND Managerial Accounting in one whack) CLEP Business Law (3 sh) CLEP Principles of Management (3 sh) CLEP Information Systems (3 sh) CLEP Principles of Marketing (3 sh) DANTES Principles of Finance (3 sh) ECE Operation and Productions Mgmt (3 sh) ECE Business & Policy (3 sh) ECE Organizational Behavior (3 sh) ECE Ethics (3 sh) Note that these requirements fulfill the Excelsior Business Core. Note that the Law, Management, Marketing, Finance, Operation/Productions, Business Policy, and Micro/Macroeconomics exceed the 21 "other business" required by Colorado law. Now, there are only 15 credits required to fulfill the Excelsior accounting concentration requirement, but significantly more than that to meet state requirements. CLEP Principles of Accounting (6 sh) from the Excelsior business core counts toward the 27 accounting credits for the state. This leaves 21 more to go. There are a couple different ways to acquire these. If you are all about testing out of everything, visit your local university and inquire about taking challenge exams for courses, then transferring those credits to Excelsior. For example, Colorado State University is 5 miles away from me, and they charge only $20 per credit to challenge any non-lab course. So, it's possible to challenge the remaining 21 sh at CSU this way. Another way to do it is via correspondence courses. Louisiana State University just so happens to offer all of the advanced accounting courses required. Currently, the classes cost $229 per 3-credit class. More info is at http://www.is.lsu.edu/ Here are the courses you would need to take to satisfy Colorado requirements, including the 3 sh Auditing requirement : ACCT 3001 – Intermediate Accounting---Part I ACCT 3021 – Intermediate Accounting, Part II ACCT 3121 – Cost Analysis and Control ACCT 3221 – Income Tax Accounting I ACCT 3222 – Auditing ACCT 4022 – Advanced Accounting then ACCT 4235 – Fraud Auditing and Forensic Accounting OR ACCT 4421 – Governmental and Not-for-Profit Accounting So there it is...3 auditing, 6 basic accounting, 18 other/specialized accounting for a total of 27. In addition to LSU, Adams State College in Colorado also offers many of these accounting classes via DL, but they are a bit more expensive at $300 per 3-credit class, so I'd stick with LSU. Based on my research of current CPA requirements in Colorado, this plan would work for me. Obviously, I cannot guarantee it in any way and I am not liable for errors, ommissions, etc. But, I hope that this helps somebody out there in the future. Take care! -Jassen
Please bear in mind that your CPA is valid in Colarado and in the US and if you are posted out in the CommonWealth countries a Chartered Accounting qualification will stand in a better light with the accounting firms in the world - the top 3. I would assume that you will practise for the rest of your time in the US but if you are going to deal with international clients that do not have interests in the States, I would seriously recommend that you pursue an ACA or ACCA qualification, which are just as international as CPA. Infact, I heard from a newly minted Australian qualified CPA that she was going to work in China for a salary of RMB34,000 a month in Shanghai, not bad when you can get dinner for around RMB3 - a bowl of noodle soup. Of course she is working with one of the top 3 accounting firms as a tax consultant and now international tax is a hot topic. If your clients list in the US your US CPA will stand you in good light. However, if they list in any CommonWealth nation a CA will definitely do better. Well, that is at least my opinion. Check to see if you can do a ICAEW or ICAS in the US. But I will certainly consider these options first before jumping into a program. Check this website http://www.acaus.org/ Good luck with your studies
Other websites you can check are www.nia.com.au and think about the avenues where you want to practise as an accountant e.g. international taxation, mergers and acquisitions and so on. Ask a CPA nearby you for their advice. I am a in a CommonWealth country and my excolleague had the unfortunate experience of being a qualified US CPA and not being able to practise here save being a lecturer which is really restrictive on his career plans. He ended up doing multilevel marketing of FMCGs. If you intend to stay in the States and practise for the rest of your term than so be it but if you intend to go international try to find some form of reciprocity. As an accountant myself I find that the world of accounting is still divided between the US hemisphere and the rest of the world. With GATS and WTO you want a qualification that enables you to have not just occupational mobility but also geographic mobility. US CPA is a really good qualification see if you can combine it with a CommonWealth one, so that your marketability is fantastic.
Here are a few tips of my own: 1. Check with your State Board of Accountancy first before undertaking a study program, as some states do not allow DL for some or all of their CPA requirements. 2. Unless you never plan to practise accounting in the U.S., get the U.S. CPA first. It will be recognized here in North America. For example, one of my colleagues here in Canada at a Big 4 firm has a U.S. CPA and she never had a problem transferring from a U.S. office to a Canadian office. Later on, if you decide to transfer to another country, you should be able to take some sort of reciprocity exam to get your Chartered Accountant (CA) or other designation. 3. If you really like accounting, stick with it! Despite all the hard work, accounting is a great career! Good luck! Michael Weedon, CA Winnipeg, Manitoba, Canada
Why is it a good career? Can you say what you really like about accounting? Why is it a good career? What appeals to you about it? I know pretty much nothing about accounting, so I am genuinely interested in the response of anyone who does accounting for a career.
Why accounting is a great career spmoran, Thanks for your interest in accounting. I believe there are several reasons why accounting is a great choice for people who are interested in business-related careers: 1. Working in accounting, especially at a public accounting firm, is an excellent way to gain exposure to many different organizations in a variety of industries. In this way, one can learn the financial and operational factors that make organizations successful. 2. Public accounting is very fast-paced, with a diverse set of challenging assignments to deal with on a daily basis. It is not a career for a 9 to 5 type who wants to do the same thing over and over again! 3. There are lots of opportunities in accounting right now. With all U.S. public companies having to ensure that their accounting systems meet Sarbanes-Oxley standards, there is a huge shortage of qualified talent at both public accounting firms (many of whom are helping these public companies) and the public companies themselves, which is driving up salaries. 4. A knowledge of accounting is a great fit with any other business discipline. It is especially a good fit with business information systems, as most of these systems generate information that is incorporated into financial reporting. By having an in-depth understanding the purpose of these systems and the output they are supposed to produce, you will have a distinct advantage in dealing with information systems. 5. By obtaining an accounting designation, an accountant can guarantee themselves a well-paying job with a high level of responsibility at virtually any organization. Michael Weedon, CA
CLEP Principles of Management I have taken 3 CLEP exams in the past 5 days, all with passing scores. Last Friday was the CLEP Principles of Management. This is part of the Excelsior business core. It was a fairly easy exam and most of it was common sense. I did no preparation for this exam and scored a 69 (out of 80). Take care! -JassenB
CLEP Principles of Marketing Took this one on Saturday to make my second exam in 2 days. Having worked in advertising and marketing for two years really made this exam a lot easier for me. I still felt it tested my knowledge fairly well, however. I did do some preparation by reviewing the first set of questions for the material at instantcert.com and reading the marketing chapter of "The Portable MBA." Score: 66. To anybody that wants a really, really concise overview of any/all business subjects in order to have at least a clue before going in for one of these exams, I highly suggest "The Portable MBA." I have it on loan from my local library, and it's a great resource. I am mainly using it as a primer or overview for the subject matter. After taking the marketing CLEP, I also went out and purchased the official CLEP study guide put out by the College Board and am using it for future exams to get an idea of the questions. Take care! -JassenB
CLEP Principles of Macroeconomics Just for the record, I am posting exam completion by exam title for the benefit of future individuals. I am posting these in the Accounting thread since that is where I posted the Excelsior CPA template. Note that I am doing the CPA route. It took me a couple months of vascillating between Finance and Accounting. But I'm going to do the accounting degree and then work on the academic side of finance with advanced degrees. Maybe this thread should be more properly called "CPA by DL". There, some more keywords for future CPA hopefulls to search on. Anyway, I took the CLEP Macroeconomics exam yesterday. Without a doubt, this was the most difficult standardized test I think I've ever taken. I personally felt more challenged by this exam than the GRE General Exam, which I took a year ago. My preparation for this test included reading the Economics chapter in "The Portable MBA," reviewing some of the sample questions in CollegeBoard's "CLEP Official Study Guide," and answering less than 20 of the questions at instantcert.com. Many of the questions in the "CLEP Official Study Guide" were actually on my real exam, it seemed, so that is probably what carried me through. I never cracked the cover on the "Cliffs Quick Review: Economics" book that I bought, but I'll keep it as a reference book in case I ever need it during my accounting career. Overall, I felt that I only answered about half the questions on this test correctly. However, as Lawrie Miller points out on BAin4weeks.com, the "norm" against which some of these exams are standardized against can be fairly low. I should also state that my "norm" is always highly skewed on any kind of objectively graded assessment because I have always been an exceptionally good test taker. I naturally use the vast majority of the "strategies" that professional test prep courses and books talk about to become a good test taker. If you are not aware of these methods, take a college test prep class, like a Kaplan course or something similar, and really embrace the test taking strategies that are discussed. It will help you through any sort of CLEP/DANTES/TECEP/ECE/GRE testing marathon you may engage in. Anyway, the CLEP Macroeconomics really challenged me, and it was a test that honestly took me down a few notches on my pride factor (aka, my "high horse"), but due to the scaling I walked out with a 67. Take care! -JassenB
CPA by DL program changes A few changes to the CPA degree plan template (specific to Colorado). First of all, I had to change programs at Excelsior from the NYS CPA Track (BAC) to Accounting, General (BAG) due to the differences in state requirements. DOUBLE CHECK your state CPA requirements BEFORE getting to far into a program like this. Your standards are available from your state board of accountancy. Also, Excelsior no longer offers the ECE Business & Policy nor the ECE Operations & Productions Managements. Not to despair, however, because there is a TECEP exam for both of these. One is TECEP OPM-301 Operation and Productions Mgmt, the other I haven't referenced yet. The ECE Organizational Behaviour is still available. I have also registered at Louisiana State University for their Intermediate Accounting I independent study course. The first 7 lessons of this class are an in depth review of Introduction to Financial Accounting and Intro to Managerial Accounting. As such, I am going to use these first 7 lessons as my test preparation for the CLEP Principles of Accounting exam. At a cost of only $229 plus books, I determined that it would behoove me to take at least one actual accounting class to make sure that I actually come out with some knowledge from this whole process. In addition to preparation for the CLEP Accounting, this course will also give me the beginning preparation for taking a challenge exam to test out of Intermediate Accounting II at my local university (only $20 a credit to do so). I have not decided whether Advanced Accounting will be an LSU course or a challenge exam at Colorado State Univ. Advanced Accounting courses usually focus on the use of your journals and ledgers to generate financial statements, which is one of the few accounting principles I am already well versed on. I am going to wait and see how well my current LSU course and first challenge exam go. Since I have decided to take an auditing and fraud "emphasis" to this whole thing, I will take auditing as an actual class. LSU independent study has a brand new class in "Fraud Detection and Forensic Accounting" that sounds like a fascinating course that I will probably take as well. I am taking a much more conservative approach to this process than the one that I first mentioned several months ago, but I think I will learn more and end up being a better accountant because of it. I figure I will also need to know everything I can, because I am planning to sit the CPA exam diet in November. Of course, knowing me, that could change tomorrow. Take care! -Jassen
I bought an accounting book a few weeks ago and am going through it. It is an instructors edition with CD and the whole shebang. It is really very interesting so far. I've never taken accounting, and in my 15 years in software, never run into an accounting gig (maybe because I didn't take accounting? Dunno). Anyhow, mastering the contents of this book (and passing the Principles of Accounting CLEP) should give me a sense of whether I want to move toward accounting at a higher level. It looks like I could finish the TESC business degree with a focus in accounting by taking five CLEPS, one DSST and six LSU accounting courses. This would allow me to sit for the CPA exam in Washington State should I decide to do that. I am also interested in the fraud management end of things, so my focus would be on auditing. But, like Jassen, things frequently change in my ADD world. If I thought that I could get an accounting degree and move to Hawaii and earn a decent living for the next 25 years I would certainly do that. Brah.
CPA by DL I'm on this track myself for Louisiana. Louisiana as does Florida requires that the credit hours in accounting and business to be actually earned by taking a course. They don't mind if it is by correspondence or online, they just will NOT accept credit achieved by TESTING. If your state has the same kind of requirements I urge you to check out LSU Independant Study. Very inexpensive, very good support. http://www.is.lsu.edu/courselist.asp?cat=Accounting&nid=102&pg= WISHING GREAT LUCK TO ALL AND ALL OF GOD'S BLESSINGS ON YOUR JOURNEYS!!!
