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MY CPA DREAMS....

DILEMMA!! 

In my previous post I mentioned that I might go for a training on SAP FICO module for 2 months. I gave it a lot of thought if I wanted to do it and I finally decided to give up on the plan. The reason being - its not going to help me in the long run. I also wrote a post before on what I aspire to be in the future. I want to be a CPA and I was thinking maybe this is the right time to do it. But there are a few things that's standing on my way. Firstly, I don't have a master's degree in accounting or commerce. Hence I don't qualify to sit for the exam or CPA license. Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries especially US. However, in order to be eligible for the exam , a candidate should have 150 academic hours (equivalent to a bachelor's degree and master's degree combined). Technically, aundergraduate degree in US generally means a bachelor's degree requiring about four years of university-level study. However, In India a bachelors degree can be obtained typically in 3 years but ofcourse there are 4 year programs too. 
In US, 
  • First 4 years of College: Undergraduate Student
  • Working on Masters degree : Graduate Student

A person is called a graduate only on completing his masters degree. 
Only after obtaining the Ph.D. and further studying in the area of the Ph.D. is one considered a post-graduate student.
US graduate = Post graduate in India. I think its because the Indians follow British system.

So, Technically I am still an undergraduate in US because I don't have master's. The basic requirement for CPA is a 4 year bachelor degree with accounting and business courses (as well as 150 credit hours). Some states in US accepts 120 credit hours too. I would need an additional 30 hours to qualify for the exam and that means I will have to do my M.com (for the additional one year). I spoke to an Institute which provides CPA training. I was asked to do M.com as a correspondence course, and study CPA during weekends. They said 120 credit hours would be sufficient for me to be eligible for the CPA license.They also added that I could write my exam now since I have a degree in B.com but in order for me to get my CPA license, I will have to submit my 1st year transcripts of M.com to meet the criteria of 120 hours which I could do within 16 months of clearing CPA exam. I don't know how much of it is true and how much is not.
The dilemma here is, I cannot do M.com in a regular college since I am a working professional. Like they suggested, I could do M.com as a correspondence course, and Work during weekdays and maybe study for M.com and CPA over the weekends. But do you think that's humanly possible??I don't really want to wait until I finish M.com because I guess by the time I finish M.com and take up CPA, 2 years would have passed already. Maybe I am rushing! I don't know. I really want to know if its possible to manage M.com and CPA studies and work at the same time !! If not either I will have to wait patiently untill I finish M.com or I have to give up my CPA dreams and take up CMA which is also a good option. 
 I would appreciate it, if i received opinions and suggestions on this very topic!

Thank you,




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