Thursday, August 26th, 2021

“THE” Exam

“Students are struggling to afford that fifth year of school.” – Daniel Hood 

There are a lot of discussions recently about the difficulty of passing the CPA Exam and requiring five years of education (the 150-hour rule) to become a CPA. These are the reasons college accounting majors are giving for not going into public accounting.

Accounting Today editor-in-chief, Dan Hood puts this dilemma in question form to all of you out there. He asks, “Is it too hard to become a CPA?” He notes that CPA profession leaders/consultants say that the number of students in accounting dropped from 2% in 1990 to 1% in 2000. The 90s is when the 150-hour rule became prominent in many states. The Exam itself is widely known to be very grueling. What could be the answer?

Read the article and give him your personal feedback.

In my personal opinion (and please note, I am not a CPA but have worked with them for over 40 years), the extra year of education is a waste of money and effort. I have never been able to see how that extra year made incoming recruits any better prepared than those that came before them. The CPA Exam should be on the “grueling” side. Clients rely on CPAs for their amazing expertise and advice. If they want to remain “the most trusted advisor” they not only have to prove their current knowledge, they have to commit to LIFE LONG learning to add to that knowledge.

  • "The CPA profession is facing serious staffing challenges and long-term threats around its ability to attract future professionals."
  • Daniel Hood

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