How difficult is it to become CPA (1 Viewer)

[dizzlemizzle]

I'm doing B commerce-prof accounting at Macquarie in the hopes of becoming a CPA (maybe CA but heard its very difficult). How difficult is it? what more do you need to do besides getting an accounting degree? Do most just end up as bookkeepers?
What "doors" does it actually open?

Thanks.

 

[Chronost]

So from knowledge;
1.You do your degree
2. Get some work experience in an accounting firm, usually as a grad this means around 6 months in the firm.(unless you already worked during your degree for a large amount of time)
3.Start your cpa program,firms tend to lean towards one or the other, so most of the time they'll want you to do one specifically.
4.Remember the program is not free, but firms tend to sponsor you to get your accreditation, therefore a fail doesn't go well,and I heard you have to pay some back if you do FAIL. but if you pass,it's all free
5.It consists of 4 different sections with a final 5th section during the final testing. (so you have 5 tests overall for each unit).These aren't the only tests of course, theres assessments etc.. as well through the period, and if you don't fail you finish usually in around 1.5 years.
6.Note the program has a high fail rate, and usually requires harder study to get a pass then a "pass in university. Therefore consistent work is required for this program.
7.You can fail one unit, pass the rest of the units, and only have to redo that unit which you failed, so it isn't too bad.
8. You'll be doing your CPA whilst working in the firm, so you don't have 7 days to study, you have to balance your work and study. There's many cases where you gotta provide examples, and therefore real life examples in the firm work well(which is why there's a prerequisite to work experience in accounting).
9.After you pass all the shiet, you celebrate and your usually promoted to a Senior Accountant in the firm, if your lucky, 1-2 more years and your a manager. Expect a salary-rise in almost all cases.
10. With the CPA now in hand, your not limited in your accounting role, that being said you can get through without doing a CPA, BUT if you wish to climb the ladder the CPA leads you to that, the CPA is held by pretty much all the higher-ups so they expect one from you as well. If your good, expect to be a partner in 10 years, starting from the day you were a grad. And enjoying roling in a 250k+ salary(can go 500k+). CFO, COO, and even CEO are some of the top tier jobs to look out for. Alot of well-known CEO's have a CA/CPA with them.
11. You will definitely not be a bookkeeper with a CPA(unless you want to).For that, all you need is TAFE.

So summary Degree>Grad Job>Work 6 months>Start CPA program>Work and study>finish CPA program>Get promoted>If your lucky, they'll put you on overseas placement after your program>Wife, kids,live a decent life..etc..

This is just shit I remember my Accounting teacher telling me(and alot from reading too). I'm sure Seremify can clear everything.

 

[seremify007]

So from knowledge;
1.You do your degree
2. Get some work experience in an accounting firm, usually as a grad this means around 6 months in the firm.(unless you already worked during your degree for a large amount of time)
3.Start your cpa program,firms tend to lean towards one or the other, so most of the time they'll want you to do one specifically.
4.Remember the program is not free, but firms tend to sponsor you to get your accreditation, therefore a fail doesn't go well,and I heard you have to pay some back if you do FAIL. but if you pass,it's all free
5.It consists of 4 different sections with a final 5th section during the final testing. (so you have 5 tests overall for each unit).These aren't the only tests of course, theres assessments etc.. as well through the period, and if you don't fail you finish usually in around 1.5 years.
6.Note the program has a high fail rate, and usually requires harder study to get a pass then a "pass in university. Therefore consistent work is required for this program.
7.You can fail one unit, pass the rest of the units, and only have to redo that unit which you failed, so it isn't too bad.
8. You'll be doing your CPA whilst working in the firm, so you don't have 7 days to study, you have to balance your work and study. There's many cases where you gotta provide examples, and therefore real life examples in the firm work well(which is why there's a prerequisite to work experience in accounting).
9.After you pass all the shiet, you celebrate and your usually promoted to a Senior Accountant in the firm, if your lucky, 1-2 more years and your a manager. Expect a salary-rise in almost all cases.
10. With the CPA now in hand, your not limited in your accounting role, that being said you can get through without doing a CPA, BUT if you wish to climb the ladder the CPA leads you to that, the CPA is held by pretty much all the higher-ups so they expect one from you as well. If your good, expect to be a partner in 10 years, starting from the day you were a grad. And enjoying roling in a 250k+ salary(can go 500k+). CFO, COO, and even CEO are some of the top tier jobs to look out for. Alot of well-known CEO's have a CA/CPA with them.
11. You will definitely not be a bookkeeper with a CPA(unless you want to).For that, all you need is TAFE.

So summary Degree>Grad Job>Work 6 months>Start CPA program>Work and study>finish CPA program>Get promoted>If your lucky, they'll put you on overseas placement after your program>Wife, kids,live a decent life..etc..

This is just shit I remember my Accounting teacher telling me(and alot from reading too). I'm sure Seremify can clear everything.

If you were only talking CA, then I'd agree pretty much with what you said. I'm not that familiar with the CPA Australia program as I didn't do it.

As mentioned though, book keeping is very different to professional accounting. Book keeping is someone giving you an invoice for performing maintenance on a telephone pole and you putting it into an accounting program. Professional accounting is more like determining whether or not that invoice should be capitalised as an asset or expensed to the P&L, and understanding the implications of such a decision.

 

[Chronost]

If you were only talking CA, then I'd agree pretty much with what you said. I'm not that familiar with the CPA Australia program as I didn't do it.

Yeah sorry, I thought they were similar,I assumed too much.