Question regarding a Masters in Accounting or Masters in Taxation

[krunchykrome]

I'll be graduating this December with 120 credits and a Bachelors in Accounting. Then, I must decide whether to pursue a master's in accounting or a masters in taxation. Both are 30 credit programs, which will give me a total of 150 credits which allow me to sit for the CPA exam. But I am not sure which program to get into, taxation or accounting. Anyone have an advice or experience with this?

I currently work in the tax dept. of a non-profit company, and I will most likely stay with this company for a few years. But probably not for more than three years.

 

[krunchykrome]

bump

 

[Dr. Detroit]

I've been in public accounting for 6yrs. I spent 5 with the Big 4 in the audit department and am currently a manager a large local firm.

You are at a crossroads in what you want to do, tax or audit. Audit/Accounting non tax will open many doors to the Corporate world. Positions like SEC analyst, FP&A, Controller, GL Accountant, Accounting Manager, Revenue Analyst...... lets nort forget about all the SOX/Internal Audit positions either.

Tax, well not many doors there as most Corporate tax work is prepared by public firms with minimal tax staff at the Corporation generally 2-3 for a small-medium sized public Company.

Tax folk are quiet and enjoy their tasks to be pretty cut & dry. Audit people enjoy communication, stepping out of the office, having projects with unknonw results, and are able to ask a lot of questions.

Icould never be a tax guy, I'm gregarious and outgoing and enjoy chopping it up with all of my cleints and learning about new accounting issues.

it's your career and your choice. If you never plan on going into public accounting I think both are meaningless degrees.

 

[JS80]

From my experience MA and MBT are waste of time + money. If you can't get a public accounting job without it then do MA if you want to do audit or MBt for Tax

 

[Amplifier]

cpa can you help me not pay taxes thanks

 

[CPA]

Originally posted by: JS80
From my experience MA and MBT are waste of time + money. If you can't get a public accounting job without it then do MA if you want to do audit or MBt for Tax

The problem is not getting a job, but getting his CPA license. Most states require 150 hours now.

 

[JS80]

Originally posted by: CPA

Originally posted by: JS80
From my experience MA and MBT are waste of time + money. If you can't get a public accounting job without it then do MA if you want to do audit or MBt for Tax

The problem is not getting a job, but getting his CPA license. Most states require 150 hours now.

He can sit for the CPA exam. However he doesn't have enough general credits to receive his license without experience. You can make up the shortfall in general credits with work experience (which is what I'm doing). Or he can take community college classes in art and video games.

 

[CPA]

Originally posted by: Fmr12B
I've been in public accounting for 6yrs. I spent 5 with the Big 4 in the audit department and am currently a manager a large local firm.

You are at a crossroads in what you want to do, tax or audit. Audit/Accounting non tax will open many doors to the Corporate world. Positions like SEC analyst, FP&A, Controller, GL Accountant, Accounting Manager, Revenue Analyst...... lets nort forget about all the SOX/Internal Audit positions either.

Tax, well not many doors there as most Corporate tax work is prepared by public firms with minimal tax staff at the Corporation generally 2-3 for a small-medium sized public Company.

Tax folk are quiet and enjoy their tasks to be pretty cut & dry. Audit people enjoy bugging the sh*t out of people, communication, stepping out of the office, having projects with unknonw results, and are able to ask a lot of questions.

Icould never be a tax guy, I'm gregarious and outgoing and enjoy chopping it up with all of my cleints and learning about new accounting issues.

it's your career and your choice. If you never plan on going into public accounting I think both are meaningless degrees.

fixed.

This is actually a good response. If you enjoy tax and want to stay in that area, then go for the tax specialty. If not, then go with the accounting which will open many doors.

 

[CPA]

Originally posted by: JS80

Originally posted by: CPA

Originally posted by: JS80
From my experience MA and MBT are waste of time + money. If you can't get a public accounting job without it then do MA if you want to do audit or MBt for Tax

The problem is not getting a job, but getting his CPA license. Most states require 150 hours now.

He can sit for the CPA exam. However he doesn't have enough general credits to receive his license without experience. You can make up the shortfall in general credits with work experience (which is what I'm doing). Or he can take community college classes in art and video games.

It's been a while, but I don't think that's true in all states. I do know, though, that they have been making it easier to get the license because of the dirth of candidates.

 

[JS80]

Originally posted by: CPA

Originally posted by: JS80

Originally posted by: CPA

Originally posted by: JS80
From my experience MA and MBT are waste of time + money. If you can't get a public accounting job without it then do MA if you want to do audit or MBt for Tax

The problem is not getting a job, but getting his CPA license. Most states require 150 hours now.

He can sit for the CPA exam. However he doesn't have enough general credits to receive his license without experience. You can make up the shortfall in general credits with work experience (which is what I'm doing). Or he can take community college classes in art and video games.

It's been a while, but I don't think that's true in all states. I do know, though, that they have been making it easier to get the license because of the dirth of candidates.

All the better for me; demand up + supply constant = price (wage) up

 

[CPA]

Originally posted by: JS80

Originally posted by: CPA

Originally posted by: JS80

Originally posted by: CPA

Originally posted by: JS80
From my experience MA and MBT are waste of time + money. If you can't get a public accounting job without it then do MA if you want to do audit or MBt for Tax

The problem is not getting a job, but getting his CPA license. Most states require 150 hours now.

He can sit for the CPA exam. However he doesn't have enough general credits to receive his license without experience. You can make up the shortfall in general credits with work experience (which is what I'm doing). Or he can take community college classes in art and video games.

It's been a while, but I don't think that's true in all states. I do know, though, that they have been making it easier to get the license because of the dirth of candidates.

All the better for me; demand up + supply constant = price (wage) up

more like demand up + supply constant thanks to college kids in the late 90s, early 00's who went the IT route hoping to ride the tech tide. I think you'll see headcount start to increase in the coming years.

 

[krunchykrome]

Originally posted by: Fmr12B
I've been in public accounting for 6yrs. I spent 5 with the Big 4 in the audit department and am currently a manager a large local firm.

You are at a crossroads in what you want to do, tax or audit. Audit/Accounting non tax will open many doors to the Corporate world. Positions like SEC analyst, FP&A, Controller, GL Accountant, Accounting Manager, Revenue Analyst...... lets nort forget about all the SOX/Internal Audit positions either.

Tax, well not many doors there as most Corporate tax work is prepared by public firms with minimal tax staff at the Corporation generally 2-3 for a small-medium sized public Company.

Tax folk are quiet and enjoy their tasks to be pretty cut & dry. Audit people enjoy communication, stepping out of the office, having projects with unknonw results, and are able to ask a lot of questions.

Icould never be a tax guy, I'm gregarious and outgoing and enjoy chopping it up with all of my cleints and learning about new accounting issues.

it's your career and your choice. If you never plan on going into public accounting I think both are meaningless degrees.

I do plan on going into public, no question about that. For the time being, I will stay here in not-for-profit for a little more experience while I am in school. I work for a rather large, probably one of the largest non-profit companies in the country. Our tax dept. has about 5 staff and myself, and the entire accounting dept has maybe 30+ at our specific office. Although we do prepare many returns ourselves, many of the final tax work is prepared by public companies. So, I do understand what you are saying about limited work within a tax dept. I do enjoy my job at the moment. Sitting in a cubicle, doing fairly easy work and consistent work is satisfying to me at this point. Im young and I enjoy the cubicle life right now. But I could not picture myself making a career out of a cubicle. I think a MS in Accounting is the direction I will take instead of a MS in Taxation.

 

[JS80]

Originally posted by: CPA

Originally posted by: JS80

Originally posted by: CPA

Originally posted by: JS80

Originally posted by: CPA

Originally posted by: JS80
From my experience MA and MBT are waste of time + money. If you can't get a public accounting job without it then do MA if you want to do audit or MBt for Tax

The problem is not getting a job, but getting his CPA license. Most states require 150 hours now.

He can sit for the CPA exam. However he doesn't have enough general credits to receive his license without experience. You can make up the shortfall in general credits with work experience (which is what I'm doing). Or he can take community college classes in art and video games.

It's been a while, but I don't think that's true in all states. I do know, though, that they have been making it easier to get the license because of the dirth of candidates.

All the better for me; demand up + supply constant = price (wage) up

more like demand up + supply constant thanks to college kids in the late 90s, early 00's who went the IT route hoping to ride the tech tide. I think you'll see headcount start to increase in the coming years.

I already left public accounting but my firm's headcount grew by 50% and wages went up by like 20%. Thank you Sarbanes and Oxley.

Now I'm in private. I can tell you there's so much f'n work because of SOX. F'n Sarbanes and Oxley...

 

[TheAudit]

Originally posted by: JS80

Now I'm in private. I can tell you there's so much f'n work because of SOX. F'n Sarbanes and Oxley...

Agreed.

 

[amish]

Originally posted by: TheAudit

Originally posted by: JS80

Now I'm in private. I can tell you there's so much f'n work because of SOX. F'n Sarbanes and Oxley...

Agreed.

ha ha. we didn't have to worry about it. except for losing clients because of the new rules. damn you SOX.

 

[aswedc]

Get hired and have your firm pay for it. I'm in a Master of Accounting program now. Of a class of about 25, it's like ten PwC, five KPMG, two E&Y, and no Deloitte (guess they're cheap 😉) I feel like an idiot for actually paying tuition.

 

[aswedc]

Originally posted by: JS80
He can sit for the CPA exam. However he doesn't have enough general credits to receive his license without experience. You can make up the shortfall in general credits with work experience (which is what I'm doing). Or he can take community college classes in art and video games.

Having looked at the current requirements for dozens of states, this will work for maybe 20%. No way around the 150 hour requirement for most people.

 

[Mday]

Originally posted by: TheAudit

Originally posted by: JS80

Now I'm in private. I can tell you there's so much f'n work because of SOX. F'n Sarbanes and Oxley...

Agreed.

quoted for emphasis. SOX is affecting everything. I work at an HR consulting firm.

anyway, i recommend masters of accounting.

 

[CPA]

Originally posted by: JS80

Originally posted by: CPA

Originally posted by: JS80

Originally posted by: CPA

Originally posted by: JS80

Originally posted by: CPA

Originally posted by: JS80
From my experience MA and MBT are waste of time + money. If you can't get a public accounting job without it then do MA if you want to do audit or MBt for Tax

The problem is not getting a job, but getting his CPA license. Most states require 150 hours now.

He can sit for the CPA exam. However he doesn't have enough general credits to receive his license without experience. You can make up the shortfall in general credits with work experience (which is what I'm doing). Or he can take community college classes in art and video games.

It's been a while, but I don't think that's true in all states. I do know, though, that they have been making it easier to get the license because of the dirth of candidates.

All the better for me; demand up + supply constant = price (wage) up

more like demand up + supply constant thanks to college kids in the late 90s, early 00's who went the IT route hoping to ride the tech tide. I think you'll see headcount start to increase in the coming years.

I already left public accounting but my firm's headcount grew by 50% and wages went up by like 20%. Thank you Sarbanes and Oxley.

Now I'm in private. I can tell you there's so much f'n work because of SOX. F'n Sarbanes and Oxley...

You and me both. We have about a meeting every week with our internal SOX auditors, then once every other month with external SOX auditors. It's a royal pain in the ass.

 

[Journer]

a little diff than the OPs topic...but...can you master in something that isnt your major for bachelor, even if it is comepletely dif? like..ill have a bach. in MIS, but i might choose international business or political science...or something...

thanks

 

[aswedc]

Originally posted by: Journer
a little diff than the OPs topic...but...can you master in something that isnt your major for bachelor, even if it is comepletely dif? like..ill have a bach. in MIS, but i might choose international business or political science...or something...

thanks

Of course. They'll probably have you take a semester of prerequisites.

 

[CPA]

Originally posted by: Journer
a little diff than the OPs topic...but...can you master in something that isnt your major for bachelor, even if it is comepletely dif? like..ill have a bach. in MIS, but i might choose international business or political science...or something...

thanks

You would need to meet the prerequisites, so my answer is generally no.

 

[GuitarDaddy]

I've been a beencounter for 30yrs. My advice??? Run like hell!!! Take up basket weaving!

j/k Seriously though, I would steer away from tax. That stuff bores the hell out of me. I would say spend the diff between 120 and 150 on working towards an MBA in the field of your choice.

And CPA is correct, many states do not allow work experience to account for college credits, I know it works that way here in Texas. Doesn't matter how many years of relavant experience you have, you still have to have 150+ credits (153 in Texas, I believe)

 

[CPA]

Originally posted by: GuitarDaddy
I've been a beencounter for 30yrs. My advice??? Run like hell!!! Take up basket weaving!

j/k Seriously though, I would steer away from tax. That stuff bores the hell out of me. I would say spend the diff between 120 and 150 on working towards an MBA in the field of your choice.

And CPA is correct, many states do not allow work experience to account for college credits, I know it works that way here in Texas. Doesn't matter how many years of relavant experience you have, you still have to have 150+ credits (153 in Texas, I believe)

I give my kids that advice when I talk about what I do.

GD, where you located in Texas? I'm here in the Houston area.

 

[GuitarDaddy]

Originally posted by: CPA

Originally posted by: GuitarDaddy
I've been a beencounter for 30yrs. My advice??? Run like hell!!! Take up basket weaving!

j/k Seriously though, I would steer away from tax. That stuff bores the hell out of me. I would say spend the diff between 120 and 150 on working towards an MBA in the field of your choice.

And CPA is correct, many states do not allow work experience to account for college credits, I know it works that way here in Texas. Doesn't matter how many years of relavant experience you have, you still have to have 150+ credits (153 in Texas, I believe)

I give my kids that advice when I talk about what I do.

GD, where you located in Texas? I'm here in the Houston area.

I work in Arlington, and live in Burleson (15mi south of Fort Worth)