CPA + MBA = Corp Finance?

Jacksparrow
Fri, 28 May 2010 00:09:40 +0000

Regarding the exam it can be difficult and whether or not you need accounting courses is really about the level of your aptitude. Majoring in accounting is certainly preferable and the review courses are a benefit that teaches you the tricks and how to manage the time constraints. The test is just a standardized test and your goal is to get a 70% to pass. Or in least in my day that is what you needed. I took the exam in the early 80s.

The public accounting road is where IMHO the real value is. The experience gained in an “up or out” environment and the fast pace of a professional services industry with bright people builds solid skills. It teaches you to be very quick at analysis and provides a broad background assuming you get to work in more than one industry.

The MBA will help get your foot in the door and give you the corporate finance type background assuming you pick finance as the emphasis. The CFAs can be hard to compete with as they are smart folks but I never felt inferior to them and never lost a promotion due to having a different background. MBA-CPA is a solid combo. Some CFAs I was around had book skills but lacked the practical. Don’t get me wrong, the CFA is a real good cert.

I am not one that subscribes to that wait to get the MBA degree because you need experience to benefit from the courses. Get the degree when you want. If you wait you just become more experienced and then get frustrated listening to all the theoretical crap that your instructors put forth. When you are less jaded you will be more interested in the material.

Just my 2 cents.