Flip138

My goal right now is to graduate with a career in accounting. So I sign up to change my major to accounting, and the accounting adviser says that my school has a 5 year program, where I will end up graduating with a Masters in Accounting and a Bachelors in something else, but he said I can't and shouldn't major in Accounting. He didn't really explain why, and most students doing this program major in Finance. Would that be a good idea? To graduate with enough credits to be licensed as a CPA, get a Bachelors major in Finance, and then a Masters in Accounting? I was originally wanting to major in Accounting. What should I do?

Dawgie

It's a good idea, because a lot of the material is similar. Don't need to waste time and money learning the same stuff over and over.

Thetaxdad

Sounds like a pretty good plan, as long as you are a first year freshman, and the masters isn't adding any more years of schooling. Another option that many students do is just do a double major. That way, you typically earn anough credits to sit for the CPA exam, and you can bolster your skill set with a second degree. Accounting and Finance degrees usually go well together since many of the requirements are the same.

creamgethamoney

Hey Dawgie and taxdad (sorry OP, I hope I'm not highjacking...I think this will help us both), if someone does go the non-trad MAcc route (i.e. doing something else and then coming back for a macc at a specialized program), do you think finance is the best bet, or would it be better to do something theoretical like Econ or Math in your opinion?

openedskittles

Accounting and finance go hand-in-hand in the business world. It's really good to learn finance in school and accounting can be learned on the job more easily. However, you need to major in accounting to sit for the CPA exam, so it's good to have both. A lot of times you will be forced to have accounting as your undergrad major if you choose to do a 5-year program, so welcome this opportunity to learn both and do the BBA finance/Macc program like your advisor suggested.

Dawgie

I would suggest something outside of business like math or even philosophy while taking the basic business courses. Business majors are jokes and don't require much intelligence. If you really want to learn the stuff get in college, try the CFA.

creamgethamoney

haha damn man, you really hate accounting don't you? But hmmm, maybe I'll look into math or econ then. The problem is, the only "basic" business courses we can take are financial and managerial accounting, so I'm not sure how good of a background I'll get with those. That's why I was thinking about finance or something somewhat business-related like math/econ. Plus, I'm not sure how much harder a philosophy major would be than most biz majors...

Also, what does the CFA let you do? I'm really confused because it sounds like something similar to the series 7 or something where you just sell securities on commissions. I know it's a test, but what industries is it used for.

Flip138

Yeah I was thinking the Finance BSM Major / Accounting Masters program was a good idea, but openedskittles said you need to major in accounting for the cpa exam? I thought you could major in anything for the cpa exam, as long as you take accounting courses

creamgethamoney

Nah man, you just have to take a certain number of upper-level accounting courses, which the MAcc will certainly cover. I think opened means that you still need a solid background in accounting, but there are many routes you may take to pursue the CPA.

Dawgie

Anything finance related, but more specifically investment management. Blows the finance curriculum taught at the undergrad level away.

openedskittles

Yeah, I just meant that you need to have class requirements for the CPA exam that most people can't sign up for unless they are a business major and a lot of people end up doing Macc programs for the credit hours and classes required. It's possible to never have any of your majors at any level be accounting and sit for the CPA exam, but you'll likely have to really pile on classes to meet both CPA requirements and major requirements and probably end up majoring in a type of business anyway.

Dawgie

You can take CFA with any undergrad degree.

Flip138

Do you know if we only have to take the CPA exam once? Like if I passed it in California and become a CPA there, and then move to New York, do I have to take the CPA again for New York?

Dawgie

Just once is enough.

Precision

So what is the best to have as major and what is the best to bachelor in?
I am attending college for Accounting.