tedbabe

Hi everyone. Have read thru' some of the posts here and thought this might be place that I can get some gd advice.

Have done my ACCA (the last 2 papers in Jun'07) and waiting for my results due next Monday (not sure if I can clear them though ).

I am thinking to further my studies by getting a US education qualification and to do the US CPA. Reasons:
(1) to fulfill the 150 semester hours to do US CPA;
(2) want to try to get a job in US - realized that getting a local qualification on top of ACCA will increase your chance to get employed or being sponsored a job;
(3) personal interest: I have a keen interest in taxes and wish to have a more in-dept US tax knowledge. Do have some knowledge thru hands-on working experience but still inadequate.

So my question is:
Does ACCA qualifications qualifies me to go for an MBA in US? Or I will need to do BSc in Accounting (with some advance standing)? Or just a diploma will make up the hours?

Thanks very much for the advice!

JAJ

It's not just a question of hours, but also the content of what you studied. Each state board has its own rules.

You should check the Colorado State Board website to see if they still accept ACCA (full members) to sit for the Uniform CPA Exam. However, even with Colorado, you need either to meet the 150 hour rule or have at least 1 year public accounting experience in order to become a CPA.

If you haven't got a degree already, then it may make most sense to get a bachelors degree in accounting first.

The Uniform CPA Exam can only be done in the United States.

tedbabe

Hi Jaj,
Thanks for the reply. Yes, I do agree that I ought to do a BSc in Accounting and pick on the subjects that the State Board requires (e.g. most common ones are federal taxation and US business law).
Question is: will the US universities be able to transfer credits or grant advance standing for the hard work that we have done in ACCA?
If they are able to - that will shorten the time that we get to qualify to just do the exams (Not even as a CPA yet).
Thanks!

JAJ

Once again. Have you looked at Colorado State requirements?

Getting a BSc is a good idea but are you planning to do this in Singapore or the U.S.?

Out of interest, if you are an ACCA student, how have you not got the ACCA sponsored Oxford Brookes BSc degree?

tedbabe

Hi Jaj,
Well, maybe I have misled you in some ways.. anyway, just to get some of the facts right here: -

1. I don't intend to take exams as a candidate from Colorado, so don't quite understand why you want me to look at Colorado.
If you asked me if Colorado still accepts ACCA (full member) to take CPA exams? My take is: yes.
http://www.nasba.org/nasbaweb/NASBAW...stateabbrev=CO

Maybe it doesn't matter which state that you apply to so long as you cleared the 4 papers and there you are. But to me: yes it does.

2. I am planning to do the Bsc in Singapore and maybe in States. I don't know, depends on my personal circumstances.

3. You asked about the Bsc in Accounting from Oxford Brookes. Well, are you saying that the BSc from Oxford Brookes has a higher chance than ACCA to be equivalent to a US degree or a higher chance of getting advance standing / able to transfer credit to a US 4 year college degree or getting into an MBA program? Appreciate if you can shed some light here.

Thanks.

tedbabe

Hi Jaj,
Not sure if my previous post went through.. but anyway, just thought I would post my answers again..

1. I do not wish to apply as a Colorado cadidate to take the US CPA exams, so I don't quite understand why you would want me to look at Colorado's requirement.
If you asked me whether does Colorado still accepts ACCA (full member) to take the US CPA exams, based on what I have read today, my take is: yes.

2. I have planned to get my BSc either in Singapore or in U.S. depending on my personal circumstances.

3. Well, for the degree from Oxford Brookes - are you saying that that has a higher chance of getting advance standing / transfer credit to a U.S. bachelor degree? I would thought ACCA would have a higher chance? Appreciate if you can shed some light here.

For me to get a BSc, is not only to fulfill the education requirements to take the CPA exams from the state that I wanted, but also to allow me to have a higher chance to secure a job in U.S.

Let's put it in this way: put yourself in the shoes of an employer - when you are reviewing resumes - would you call for someone for interview with a local qualifications (and you would have know the school or it's easy to find out) or someone with a foreign education (and you need to find out more about the foreign qualifications?) Maybe you will say: it depends on the requirements of the job.
For me - due to the job that I am doing now and the jobs that I intend to do - I will go for both.

Thanks..

JAJ

If you are eligible for the Oxford Brookes degree - claim it.

As for taking the CPA exam, it might be helpful if you clarified what state you planned to take it in and why.

tedbabe

Hi Jaj,
Sure. Thanks and I will try that.

The states that I am considering are those that require 150 semester hours: NYS (pretty soon they are starting the 150 hours) and MD.

Reasons are simple:
1. Because the availability of the jobs that I am doing now and intend to apply.
2. Because my bf is there and I wish to get a job there, so that I can be with him and able to provide for our family-to-be in the future.

JAJ

Are you planning to work in public accounting? If no, then it doesn't really matter which state you become a CPA in. Corporate employers won't really care.

CPA licences from 150 hour states are generally more transferable from one state to another (reciprocity) but if working in industry it's not usually a problem as long as you are a CPA somewherein the U.S.

Is your partner an American citizen and are you planning to migrate to the U.S. once married (if marriage is the plan?)

tedbabe

Hi Jaj,
Well, I don't wish to limit myself the options as to whether to work in public accounting in the future but frankly, my interest is actually on tax.
When I looked the job postings, I recognize that employers (esp the Big 4) are looking for people with 4 years college degree (and I understand their reason - they need people who knows about GAAP and US Federal tax) in order to do the work.

And yes, you hit the nail on the head.. the reason that I wish to take up the 150 semester hours is because it is transferrable between different states. Again, I do not wish to limit myself that I will stay in one state for the rest of my life, just in case my partner wish to move.

JAJ

When are you planning to move to the U.S. and on what visa? That should direct your plans as to how and where to study.

You may need to look more widely than the two states you mentioned. Bear in mind that 150 hour states also require 1-2 years of work experience normally. Some states accept non-public accounting experience, other's don't. And some states accept supervision under a non-U.S. qualified accountant, and others don't. And some states will accept professional study like ACCA as psrt of the 150 hours - while others won't.

You should cast your net a little wider. If you are going to be working in the U.S. you should look at becoming a CPA in other states, such as Georgia, Washington, Kentucky, Virginia, Florida and Oregon. And bear in mind that some states are "two-tier" - a CPA certificate from a 2 tier state does not normally qualify for reciprocity.

Only about 20 states have residence requirements, the ones mentioned above do not, as far as I know (but you would need to check directly).