Some Advice on Accounting

[UptonSinclair]

Hello everyone, 

It has been a while since I posted on Degreeforums, but I am back at TESU for a second bachelor's and decided to drop in. I spent a couple of years on here between 2013 and 2015 while completing a BSBA in Computer Information Systems at Thomas Edison. Because of my degree, I was able to leave the trades and get a lovely desk job staring at gray cloth covered walls. :

I am currently completing a BSBA in Accounting and thought I would share a little about my experience. As much as I love saving money and moving through credits quickly, I would not suggest that approach to accounting credits. I completed intro I & II at Straighterline for my degree, but ended up having to take them again to have a decent foundation for Intermediate Accounting. Accounting education follows a linear path that is designed to prepare students for the CPA exam. Because of this, accounting courses cover a lot of information in a very short amount of time. This is a difficult course of study in a traditional setting, and would be a total disaster in an accelerated course of study. 

If you plan to complete a BSBA in something other than accounting, it makes sense to save time and money on the accounting courses. If you plan to work in accounting, do yourself a favor and take all of your accounting courses through more traditional means. If you decide to test out of any courses, it is critical that you make sure the material is the same as the course you are bypassing and that you are fluent in the material covered. 

I am currently taking Intermediate Accounting II and Auditing at TESU. I have been spending most of my non-work waking hours studying, and I will be lucky to avoid failing the courses. 

Accounting is a harsh field. Those who come from top universities struggle to survive in an industry that expects people to come out of college fully prepared to carry their weight. For those of us who enter through the back door, it is far more difficult. There is a subreddit for those who are curious about the profession. Public accounting is probably impossible for those you come up through alternative education, but there are accounting options for us. I am currently working in accounting as a technician in the Department of Defense and hope to become an accountant after I complete my education. If I can get through Intermediate II without losing my mind, that is.

Best of luck with your studies.

Upton

[Ideas]

So you checked and TESU will let you get a second BSBA?

Good luck. I'm sure you can do Intermediate II

[tesu-acct-student]

Really glad you posted this, and I agree. It's something that needs to be said over and over because these threads get pushed down the forum as time goes on.

If people are interested in pursuing accounting at Thomas Edison, they should not use the Straighterline financial accounting course as a substitute for Intermediate 1. Edison allows this but I think it's a mistake. There's a thread in my signature that explains why and how I discovered this error.

I also agree that it would be better to **take** the actual courses as opposed to testing out, if the person is an accounting major.

I don't manage these forums but I'm wondering if this thread or a thread like it needs to be a sticky.

Thank you again for bringing it up. This information is very helpful to people who are accounting majors.

[UptonSinclair]

So you checked and TESU will let you get a second BSBA?

Good luck. I'm sure you can do Intermediate II

I am currently enrolled and have an academic evaluation for a second BSBA.

[sanantone]

I was just thinking about you because there's a current thread on trade careers in the off-topic sub-forum.

I'm also working in an accounting-related job as an enforcement officer making sure people pay their taxes. LOL

[cannoda]

I am currently taking Intermediate Accounting II and Auditing at TESU. I have been spending most of my non-work waking hours studying, and I will be lucky to avoid failing the courses.

Upton,

Your experience in the Intermediate course isn't much different from that of students in a traditional face-to-face course in a top university.  It is common for students to change their major from accounting to something else during or immediately after the first intermediate course.

It is not unusual for the the intermediate accounting sequence to be the toughest courses in the entire business school - including graduate-level courses.  It is smooth sailing once you gotten past these courses.

I can't overemphasize the importance of this course to the accounting major and an accounting career. The intermediate accounting grade is often the decider if it's a close decision on whether to offer a student an internship, or to admit an applicant to a masters in accounting program  Intermediate accounting is absolutely crucial to success on the FAR section of the CPA exam.  

One thing that might help - you might want to look at CPA exam review materials(available in public libraries) in addition to your textbook and assignments as you go through the course.  And don't let failure be an option.

Good luck.

[tifferbugz]

I think it's a little inaccurate to say that backdoor or alternative methods to a degree will keep you out of public accounting. But it will probably keep you out of the Big 4, which is probably what you were referring to. If your dream is to work for PWC or KPMG, then go the traditional path and make darn sure you go to the best school you can get into, and that said school is AACSB accredited. But if you want to work in public accounting for a smaller firm, your path to your CPA isn't as important. And most corporate jobs will care more about your experience than where or how you went to college.

I actually finished my AS in accounting (which included intermediate I and II) through Ashworth College, then went to a regionally accredited school to finish my bachelors and masters. I think I learned what I needed to, but studying for and passing FAR would have been easier if I'd done a more difficult/traditional intermediate class. I did still pass on the first try, but I credit Yeager and a lot of study time on my part for that.

[sanantone]

Right now is a good time for those who aren't CPAs. There are many opportunities in auditing and tax enforcement. My state is hiring a bunch of auditors. The IRS is hiring thousands of people because of the new tax laws.

[tesu-acct-student]

sanantone, what are the educational credentials required for those jobs?

[sanantone]

sanantone, what are the educational credentials required for those jobs?

The IRS is hiring for a lot of different positions, so I'll only talk about the accounting-related ones. 

Revenue Officer

GS-7: One year of related experience in federal service at the GS-5 level or Superior Academic Achievement may be met by having a Bachelor’s degree, with one of the following: A GPA of 3.0 or higher on a 4.0 scale for all completed undergraduate courses or those completed in the last 2 years of study, or a GPA of 3.5 or higher on a 4.0 scale for all courses in the major field of study or those courses in the major completed in the last 2 years of study, or rank in the upper one third of the class in the college, university, or major subdivision, or membership in a national honor society recognized by the Association of College Honor Societies; OR

You may substitute education for specialized experience as follows: One (1) academic year of graduate education in a field of study such as: business administration (finance, accounting, auditing, marketing and business law), law, economics, criminology, political science, government, social science, communications, psychology, public administration or another related field; OR

You may qualify by a combination of experience and education. 

GS-9: One year of related federal experience at the GS-7 level or You may substitute education for specialized experience as follows: Master's or equivalent degree or 2 full academic years of progressively higher level graduate education leading to a degree in a related field of study such as business administration (finance, accounting, auditing, marketing and business law), law, economics, criminology, political science, government, social science, communications, psychology, public administration or another related field; OR
LL.B or J.D., if related; OR

You may qualify by a combination of experience and education.

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Internal Revenue Agent

All grades: You must have a Bachelor's or higher degree in accounting from an accredited college or university that included at least 30 semester hours (45 quarter hours) in accounting or 24 semester hours in accounting and an additional 6 semester hours in related subjects such as business law, economics, statistical/quantitative methods, computerized accounting or financial systems, financial management or finance. OR A combination of experience and education at an accredited college or university equivalent to a four year degree that included courses equivalent to a major in accounting, i.e. at least 30 semester hours in accounting or 24 semester hours in accounting and 6 semester hours in related subjects as described above. OR A Certificate as a Certified Public Accountant (CPA) obtained through written examination in a State, territory or the District of Columbia. OR Are currently serving as an Internal Revenue Agent GS-0512 and have been in this position for at least one year or was previously an Internal Revenue Agent GS-0512 and held the position for at least one year. In addition to the above qualifications, you must possess the following professional accounting knowledges: Principles of Accounting, Intermediate Accounting, Cost Accounting, Advanced Accounting, and Auditing. 


GS-7: One year of experience equivalent to the GS-5 level, superior academic achievement as described in the Revenue Officer requirements I posted above, or one (1) year of graduate level education in a related field such as Accounting, business, finance, law, economics, management, statistical/quantitative methods, or computer science. You can also qualify with a combination of experience and education. 

GS-9: One year of experience equivalent to the GS-7 level or 2 years of progressively higher level graduate education leading to a master's degree or master's or equivalent graduate degree in a related field such as Accounting, business, finance, law, economics, management, statistical/quantitative methods, or computer science. OR You may qualify by a combination of experience and education.

GS-11: One year of experience equivalent to the GS-9 level or 3 years of progressively higher level graduate education leading to a Ph.D. degree or Ph.D. or equivalent doctoral degree in a related field such as Accounting, business, finance, law, economics, management, statistical/quantitative methods, or computer science. OR You may qualify by a combination of experience and education.

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Criminal Investigator (Special Agent)

GS-7: One year of related experience equivalent to the GS-5 level. You may substitute education for specialized experience as follows: One full year of graduate level education which included or was supplemented by at least 15 semester/23 quarter hours in accounting plus an additional 9 semester/14 quarter hours from  among the following fields: business law, economics, finance, tax law or money and banking, or superior academic achievement. 

GS-9: One year of related experience equivalent to the GS-7 level. You may substitute education for specialized experience as follows: Two 2 full years of progressively higher-level graduate education; a master's degree or equivalent graduate degree (i.e.; L.L.B. or JD). AND All of the above education requirements must be supplemented by at least 15 semester hours (or 23 quarter hours) in accounting, AND an additional 9 semester hours 14 quarter hours) from among the following or closely related fields: finance, economics, money and banking, tax law, and business law.