Hey guys,

I am an accounting and finance double major in my junior year. At this point, I am confused about whether I should do MS in Accounting and then get the CPA certification or try to get into a reputed MBA program. Which of the two options do you think will provide me with better opportunities both in the US and in Nepal? I am more interested in finance; however, I know that to get into a top MBA program, generally 2 or more years of work experience is required. As an international student, I feel that the work experience requirement ruins my odds of getting into a top MBA program. I am not too keen to take the option of joining a mediocre MBA program just because it does not have the work experience requirement. I am thinking that if I cannot get into a good MBA program, I should go for the MS in Accounting and then get the CPA certification. I am looking for suggestions from you guys, especially those who are in the field of accounting and finance.

Thanks!

i am not sure about us job market because i never been to us but this field of study are intrest of mine too considering nepal's market legal formalities is ,if you did CPA and came back to nepal you may got job in corporate house but you can't get auditing licence from ICAN for CA membership you have to sit in exam and gaing more expericence under ican member it not that much easy

once you did MBA us MBA are heighly reputed here in nepal and you may got easly job over here but job status will be almost same either you did cpa or mba

 

so if you want professional licence cpa is better or easy job mba is better non of them is bad

but i still want to suggest you for CFA that more demanding in baking sector in nepal and they are only business house who can offer better salary in nepal

 

best of luck

 

Thanks a lot for your response gkhanal ji. I will definitely consider the CFA option.

if you want to stay in US 1st CPA than MBA but if you want to go back home 1st MBA

I don't think u need to pass the ICAN to get a license after u already have a CPA license..there might be little formalitites but no need to redo the whole exam ..I think guys passed CA exam in India don't either..ICAN recognizes professional licenses from many countries..US CPA should not be an exception

You have to sit in exam to get licence from ICAN and you have to continue your COP from the organization where you have passed CA (i.e.CPA) exams. Exams is mandatory in Nepal though paper is less (not whole exams).

Since decade some of CPAs are working, is not yet get audit licence due to typical formalitites for CPA & ACCA. However, do not compare with ICAI members.

Thanks

Which accounting standard do people with ACCA certification use? Is it IFRS or something else?

First of all, you will need to decide what career path you want to choose. Are you interested in going for Auditing career (external or internal) - go for CPA, or you are more interested in going for Financial sector - go for MBA.

Second, are you planning to return back to Nepal in next few year - go for MBA, are want to stay in USA for next few years- CPA?

Thirdly, Are you US citizen?? If yes- doesn't matter. Else go to step 4.

Forthly, Situation of Job market. Job market is terribly bad for MBA currently. Because of TARP rules even big Financial Institutions are rejecting MBAs from top teir schools. Do you think, you are better than them??- If yes, you would not be here asking this question.

Lastly, MBA and CPA are diverse as Cheese and chalk. Don't confuse them to be the same.

Deshbhaktanepali ji, thanx for your suggestions. I must thank you especially for enlightening me about how CPA and MBA are like chalk and cheese. I can see that you tried your best to sound intellectual and made your best effort to include a bit of sarcasm towards the end of your post. I have just one small suggestion for you. From next time, do consider taking some time to read the original post so that you can address the actual concern. This way you can avoid making irrelevant comments that do not help anyone.

Mr./Mrs./Ms. nepaliinmissouri, From your original post and reply to my post I can see that you are intelligent enough to do double major and you are now aware of difference between CPA and MBA too. So why don't you try doing both at the same time. That will definitely solve your problem. Since you have double majore you will have enough credits for your CPA and you can complete your CPA too while doing your MBA.

Thank you for your suggestion deshbhaktanepali ji. I agree with you on the fact that getting both CPA certification and an MBA degree is probably the best option for me. Once I do my MBA, I will have enough credits to sit for the MBA exam. Moreover, my undergraduate background in accounting coupled with an Auditing class as an elective, while in the MBA program, should prepare me well enough to pass the the CPA exams.

nepaliinmissouri,

Ma pani ta missouri ma nai ho ni, tara khoi ta khabar, hamilai chai nashodhi sajha ma post garne, kam se kam hame le pani kai bhanthiyu hola, arko kura hami pani ta MS Accountancy gardai chau.

MS Accounts ko favor ma euta fact, right now 100+ countries are using International Financial Reporting Standard (IFRS) as the basic accounting principle and US is in verge to adopt IFRS too since 2011. When you will be out with MS degree, if you do MS Acct, you can sit for CPA (may be it will be called something else after 2011) and will be a global chartered accountant.

Well testo bhandai ma, MBA lai hepako chai hoina, you know most of the top position in corporate houses are MBA's.

So choice is yours, if you think you are really smart go for MBA, or else if you think you are not (like me) then come to MS Acct.

hahaha

Also another factor is cost. MBA at a top tier school will cost over $100K for two years + if you decide to do all the networking trips/travel it will cost more. In addition, getting financial aid especially now with so many people without job applying B school is extremely competitive.

CPA is defenitely a lot cheaper alternative. If you get a job at a big 4 accounting firm, they will pay for your exam and prep courses (which are really cheap compared to MBA anyway).

I think you could consider working for a top accounting/consulting firm and get your CPA while working there. Save money for B-school and work on your CV for MBA school while working as well. These days top tier MBA schools do not just look for good grades and experience. They look for something different you can bring to the incoming classes. Two most important things the top schools look for are: leadership and community services.

 I have seen couple MBA laid off  and not a good time for MBA, go for CPA.

Hmmm... if you get into Top 10 MBA program, it's a slamdunk.  Go for that MBA. 

Sure there are some complexities due to TARP, but that is effective very short term and will probably cease to exist when you graduate.  So no worries there.

As an MBA from Top 10 program, I don't think you will have trouble finding a job, no make that a lucrative job, anywhere.  Even the cost of attending the program is a minimal factor because you can easily get loans based on your future earning prospects.  I think the bigger challenge is getting in.