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 Topic: 150hrs? pathway? ( Topic Closed)
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marqzho
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Joined: 14 Feb 2011
Location: United States
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| Posted: 14 Feb 2011 at 20:40 | IP Logged
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I am a foreign student and I just got my report back
from the Credential Evaluation Services. The report
indicated that I have 136 semester Units( equivalent
to accredited colleges in US.)
1. Would the CA state acct broad "discount" my
semester hours or they would just approve it based
on the report?
2. If all 136 hours is granted by the board, I will
consider to take some extra courses in order to take
pathway 2. But When do I need to choose whether
choose Pathway 1 or 2? in the handbook, it said
"applicants applying for licensure under pathway 1
will not be able to chance to Pathway 2"?
3. I need 14 semester unit to go, where will be a good
place ? would courses for CPA exam counted as
semester unit? if yes, it will be great to take courses,
study exam, and fulfill requirement at the same time.
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koenigseggCC7
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Joined: 04 Jul 2010
Location: United States
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| Posted: 26 Feb 2011 at 09:02 | IP Logged
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1. No - just approve it based on the report. That is what the point of CES is - so that the CA board just gets a "transcript" instead of trying to evaluate the credits on their own.
2. "Applicants seeking initial qualification do not select a Pathway when applying for the examination. Applicants must meet the examination education requirements at the time that they apply for the examination. Only when applying for licensure in California will applicants select either Pathway 1 or Pathway 2. At that time, applicants must demonstrate they meet the licensure education and experience requirements for their chosen Pathway." Taken from the "UNIFORM CPA EXAMINATION HANDBOOK for First-time Applicants."
According to the California Board's "UNIFORM CPA EXAMINATION HANDBOOK for First-time Applicants," the examination education requirements are a bachelor's degree, 24 accounting credits, and 24 business credits.
Since you are applying for the CPA exam now and have some time until you apply for licensure, you can check back later for those requirements. Just go to the CA Board of Accountancy's website and a link to that handbook is right on the first page.
3. Are you now physically located in the US? If so, community college. If not, find a US college that offers online courses and take 5 of those. CPA exam review courses do not count.
As long as you've met the 24 accounting credits and 24 business credits mentioned above, the additional 14 credits you need can be in anything you want. You can either take courses that will get you closer to an MBA, or you can take the easiest ones you can find.
Why do you want to choose Pathway 2? The only difference is that Pathway 1 adds to the experience requirement but cuts down on the education. Unless you become a full-time student for another semester, it would take you longer to get the 5 extra courses needed than to meet the longer experience requirement for Pathway 1, and it won't cost you anything. If you go Pathway 2, assuming you are working, you will have to probably take one course a semester for 2 1/2 years and it will cost a few thousand dollars for tuition. Just sayin'.
__________________
NY CPA
BEC - 5/26/10 - 83
FAR - 7/12/10 - 95
AUD - 8/26/10 - 94
REG - 11/10/10 - 85
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marqzho
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Joined: 14 Feb 2011
Location: United States
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Posts: 2
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| Posted: 26 Feb 2011 at 17:35 | IP Logged
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Thank you very much for the detail explanation.
From the CES report, I got 27 accounting unit and 76
business unit. So, I should be fine for getting the
exam entry ticket.
The original idea for Pathway 2 is because I want to
get the license as soon as possible. And if they count
CPA review course as semester Unit, I can study and
gain credit at the same time. Also when I look some
other threads, some point out that right now the big
firm start to prefer someone with 150 semester unit,
just like a industry trend. Some also said there will be
no more two years experience pathway in the future.
I just need only 14 units to go, that's why I would
prefer pathway 2 than 1.
BTW, I am now physically in the State and work at
home office M-F 8-5 . But it seems the spring
semester is already started and I can't enroll until the
summer semester.
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koenigseggCC7
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Joined: 04 Jul 2010
Location: United States
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Posts: 105
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| Posted: 28 Feb 2011 at 07:46 | IP Logged
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Like I said, unless you stop working and take all the courses at once, it will probably take you longer to get the extra courses done than it will be to do the extra year of experience, so you would be getting the license quicker if you went with Pathway 1, plus you wouldn't have to spend a few thousand dollars on tuition.
CPA review courses DO NOT give college credit, as stated above.
The only reason you would want to go with Pathway 2 is if you plan on moving out of California, because in order to transfer your license you need to meet your new state's requirements, and most states have only have requirements similar to Pathway 2. That would be why the Big 4 firms look only to hire those who have 150 credits, so that you can be easily transferred. If you want to stay in California, there is no need.
There should be no worry about not having a Pathway 1 in the future; once you apply for the exam then both options will be available to you. It's called being "grandfathered;" once you apply under the old set of rules, no new set of rules can override this. Of course, it is all up to the California state government to decide this, but there would be uproar if any new CPA licensing regulations did not offer a grandfather clause.
In New York, the law to do away with our "Pathway 1" was passed in 2005 and did not take effect until 2009, and you only had to have applied for the exam by the deadline in 2009, not take or pass any sections, to be treated under the old rules. Many people who planned on taking the exam in the future just applied to retain the ability to take the exam under the old rules, even if it might be a few years until they take it.
However, you seem pretty dead set on going with Pathway 2, so go for it. I just want you to know the pros and cons of your decision. Good luck.
__________________
NY CPA
BEC - 5/26/10 - 83
FAR - 7/12/10 - 95
AUD - 8/26/10 - 94
REG - 11/10/10 - 85
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