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Subject Topic: is CPA a good designation? (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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qqplus
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Posted: 20 Aug 2009 at 02:59 | IP Logged  

Depends on who does it.

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vicky
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Posted: 20 Aug 2009 at 23:27 | IP Logged  

caper wrote:

One more thing, CAs in Canada earn much more than CPAs in the US.


I seriously question that statement. All professional careers in Canada tend to pay considerably less than the US (yes, you have to convert the dollar before making that statement). Even if it were true, the income tax in Canada is so brutal that you take home just about nothing. Just about the only way to reduce income tax was to plunk cash into an RRSP which scared the hell out of me because it is such a local program.

I did my grad school in Canada and I used to be a Canadian permanent resident. I worked as an engineer and the wages were the absolute pits just like other professional jobs. Just by crossing the border, I immediately doubled my paycheck (another major motivation to kiss the snow goodbye).

No offense, I LOVED living in Canada, especially BC but financially it is a terrible choice. I may go back some time after I retire in another 5 years or so when I am in my mid 40's (another option I would never have had there).
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late bloomer
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Posted: 28 Aug 2009 at 22:02 | IP Logged  

caper wrote:
As a CPA who is living in Canada, I completely concur with your friend that CPA is much easier than a CA.


I seriously question your comments about the difficulty level of CA over CPA.

1. Perhaps, Canadian CA requirements are more structured, but comes down to same process. Did you get your CPA license without meeting experience requirement? US doesn't require you to be attached with a CPA firm, but that doesn't make US CPA easier.

2. Have you looked at the educational requirement, before applying for the CPA exam? content of the exam?

I am sure if US CPA was easier, employers would not hire candidates with  a substandard professional designation and Canadian CA's would have preference over US CPA's in the job market.



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caper
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Posted: 03 Sep 2009 at 10:05 | IP Logged  

late bloomer wrote:

I seriously question your comments about the difficulty level of CA over CPA.

1. Perhaps, Canadian CA requirements are more structured, but comes down to same process. Did you get your CPA license without meeting experience requirement? US doesn't require you to be attached with a CPA firm, but that doesn't make US CPA easier.

Imagine the following scenario; to be able to sit for the exam in New York you must to be employed with one to the 43 CPA firms that are approved by the NY board of accountancy.

These 43 CPA firms have on average 2500 yearly openings.

Any student who wants to be a CPA is competing for one of the openings. It doesn't matter if there are 1000 accounting grads or 1 million, there are only 2500 available spots.

No job = no CPA exam = bye bye to your dream of becoming a CPA

The other weakness of the US Certified Public Accountant is that many States accept industry experience. Might as well change the name to Certified Practising Accountant like in Australia.

Also, one year experience is not enough.

late bloomer wrote:
2. Have you looked at the educational requirement, before applying for the CPA exam? content of the exam?

Most States require 24 credit units in accounting, 24 credit units in business subjects and the frivolous 150 credit hour rule.

Its way more beneficial for a CPA to have an extra year of public accounting experience than taking the extra 30 credit hours.

late bloomer wrote:
I am sure if US CPA was easier, employers would not hire candidates with  a substandard professional designation and Canadian CA's would have preference over US CPA's in the job market.

Why would a US firm in the States give preference to a foreign designation ? Each country favors local designations and has nothing to do with Canadian CA being harder/easier.
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caper
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Posted: 03 Sep 2009 at 10:16 | IP Logged  

vicky wrote:
caper wrote:

One more thing, CAs in Canada earn much more than CPAs in the US.


I seriously question that statement. All professional careers in Canada tend to pay considerably less than the US (yes, you have to convert the dollar before making that statement). Even if it were true, the income tax in Canada is so brutal that you take home just about nothing. Just about the only way to reduce income tax was to plunk cash into an RRSP which scared the hell out of me because it is such a local program.

I did my grad school in Canada and I used to be a Canadian permanent resident. I worked as an engineer and the wages were the absolute pits just like other professional jobs. Just by crossing the border, I immediately doubled my paycheck (another major motivation to kiss the snow goodbye).

No offense, I LOVED living in Canada, especially BC but financially it is a terrible choice. I may go back some time after I retire in another 5 years or so when I am in my mid 40's (another option I would never have had there).


In Ontario, the average salary of a new CA (3 years experience) is $70k.
http://www.guidetorulingtheworld.ca/Rule/Rule2_2.aspx

In BC. the average salary of a new CA (2.5 years experience) is $65k and the average salary for all chartered accountants [in B.C.] is over $100,000.
http://www.canada.com/vancouversun/news/working/story.html?i d=4300b689-d68e-4e26-a2ee-c770a07118b7

What is the average salary of a new CPA in NY ?
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