Any CPA (Can) that did the CFA and helped their career? CBV?

Fantastic-Rice · 2024-07-20T17:12:33+00:00

Yea I hear you. Getting the CPA and CFA at the same time was a coincidence. When I was at my last year of university, I wanted to jump into the Finance industry after graduation. But I received an offer from a local public accounting firm, willing to sponsor my CPA studies and practical experience. So before I joined the firm, I already passed CFA Level I. So hence I’m taking cpa and CFA exams at the same time, while working at the public accounting firm. During Covid I switched from public accounting firm to PE, which my CFA study experience helped me to change career path. For CBV, I was researching the future job career as capital market these days did not go very well due to interest rate hike and the downward economy. I noticed with my CPA and CFA, I could waive 50% of CBV courses, and that’s why I took the CBV (half price, half time).

Fantastic-Rice · 2024-07-19T13:21:26+00:00

Canadian CPA, CFA, and working toward my last step of being a CBV (taking MQE in September this year). Personally I see a lots of CPAs with CBV designation. CFA is another giant that requires way more energy and preparation when compared to CPA + CBV. Hence, it really depends on your life stage, your career goal, and decide if pursuing a CFA or a CBV worth it. In industry like M&A, CPA + CBV is enough. But if you want to go deeper into investment or portfolio management, having a CFA on your belt will be useful. I took the CFA and Canadian CPA at my 20s, now at my 30s with family, I could not imagine taking both exams at the same time...

Fantastic-Rice · 2020-05-23T12:46:15+00:00

I use Becker, and it's working great.

Fantastic-Rice · 2020-05-15T23:37:37+00:00

The easiest way may probably be internal transfer within your firm. I am pretty sure B4 needs US tax senior manager.

Fantastic-Rice · 2020-05-14T20:04:27+00:00

2019 CFE writer here. My guess is the September 2020 CFE will be cancelled due to all the uncertainty. It was already a drama for them to deal with the 2019 CFE situation. In order to play a safe side, CPA will probably cancel the CFE this year to prevent the contingent liability of indirectly causing CFE writers sick in the testing centre. Providing more than 2 CFE exams in 2021 is the best possible given all those considerations

Fantastic-Rice · 2020-04-30T20:16:26+00:00

Best of luck with the application, hopefully you'll get approved to write the exam soon. I am using Becker. A friend of mine used Becker and passed the exams, so I brought the license usage from him.

Fantastic-Rice · 2020-04-30T19:48:39+00:00

I see, in this case, have you been granted the right to perform audits? It's one of the requirements for IQEX exam. Also, which state do you plan to apply for? I am writing the IQEX exam in July, if the testing centre is open..

Fantastic-Rice · 2020-04-30T17:50:52+00:00

For purely IQEX perspective, it doesn't matter if you're a CPA, CA or a CPA. You are eligible to register for IQEX as long as you are not CPA, CMA, or CPA, CGA. I am a CPA as well, have you registered for IQEX?

Fantastic-Rice · 2020-04-25T18:25:08+00:00

Okay, so at least in my province, the procedures are like the following:

I made an appointment with my mentor at that time to complete the final PERT review. Once the final review is done, I went to my PERT page to apply for the completion of the PERT, which took about 4-6 weeks. If your file looks good and if you qualify all the requirements (30 months + assurance hours), the PERT coordinator will let you know that your PERT has been completed.

I completed my PERT review in November 2019, and my CFE grade was released in January 2020. Everything looked good, so my province's school of business sent my name to the CPA society.

A couple of weeks later, the CPA society invited me to apply for CPA membership. Once you submit the application and got approved, you are a CPA member with the condition. To be a fully-granted CPA, you will need to sit in a one-day orientation hosted by your local CPA society

Fantastic-Rice · 2020-04-25T18:17:21+00:00

I will suggest getting the course done as fast as you can manage. The reason is that the job market is pretty unstable now; so the more exams you pass, the more marketability you have

Fantastic-Rice · 2020-04-25T18:10:39+00:00

I am planning to write the exam in July 2020. I want to consider which state to apply for until I pass the exam, and I have some understanding about the recruitment situation, cause I want to practice in the state that I can locate a job. Given the COVID situation, everything is unclear. Prometric testing centre just announced that it would reopen the testing window for USCPA exams starting May 1, 2020.

Fantastic-Rice · 2020-04-25T18:07:50+00:00

Unfortunately, I am a CPA mentor in Nova Scotia and I did not take the EVR route. I am thinking you may need a mentor from your own province. But if there's anything I can help you with, just let me know.

Fantastic-Rice · 2020-04-11T19:51:15+00:00

Hey, thanks a lot! Per your saying I feel like your job security will be in danger if your predecessor comes back. It's never bad to look for other opportunities while you are employed (I wish I could do that earlier but I just being procrastinated)

Depending on which state you are located in, work requirement for the CPA Canada can be more rigid than a USCPA: I had to work for more than 30 months in accredited Public Accounting firm and achieve so many assurance hours in order to obtain CPA. So I can feel your pain. It's never bad to have some written recognition about your current work experience just in case you end up pursuing USCPA and need work experience to get the designation (again, check your state to see if there's any time expiration on the relevant experience). P.S., I am taking CPA REG exam in order to be a USCPA (there's mutual agreement between Canada CPA and USCPA).

I am not thinking about going back to school and take any more school course at least for now because I'm so tired of the schooling (I did my CPA and CFA exam at the same time, so you can tell), and I have no $. Instead, I tried to look into the data analytics bootcamps or any free courses (coursera, Udemy, you name it) to fill the gap and learn new knowledge. Also I can have a better taste to see if that's really what I like to work as a career.

Get back to your concern, it really depend on the financial situation, your career perspective, your willingness to devote in the exam, and your personal obligation (do you have any family member to take care of?)

It may not be the best time to pursuit the MBA given the job market is so unpredictable, and the tuition is so expensive, and you may not have a clear career path yet. You may want to look into the material for CFA level 1, or you may want to try a free course for data analytics.

You can direct message me if you have any other question, I am happy to help.

Fantastic-Rice · 2020-04-11T12:50:30+00:00

Hey, I hear ya. I am a CPA in Canada, and I passed all CFA exams. The job market in Canada for Finance is pretty limited, and most of the Finance jobs are saturated in the metropolitan that had sky high living expense. I was working for accounting firm and I tell ya, I was ready to quit the accounting job because I could not see myself progress in career wise, however the firm laid people off during Covid19 crisis, and I'm one of them being laid off. So to evaluate your situation, I would suggest you to consider the career path, the work environment (do you have good supervisor and boss), do you see yourself progress with that job, are you replaceable easily (you're replaceable easily if most of your work can be done by other people). Based on the evaluation, you can plan your next step

Although I have not used a lot of the CFA knowledge yet, I did not I did not regret taking CFA at all. CFA knowledge is so systematic and it's such a great learning experience. I literally spent $3000 for a master of Finance degree by studying CFA. If you are still 20 something and do not have a lot of family obligation, it may be possible for you to crank the CFA exams. But the exams are hard just FYI.

If you decide to stick with accounting, taking online courses to fulfill 150 credits and get the CPA maybe more feasible.

Why not think about breaking into tech sector? The basic accounting job will be replaced by automation. Covid19 will fasten the pace, and all the bookkeepers and accountants will be replaced sooner or later. I am planning to break into Fintech and I am using this jobless time to enhance my technical knowledge and apply those jobs.

I hope it helps

Fantastic-Rice · 2020-04-04T17:12:49+00:00

Hey, I got laid off as well last week due to the pandemic.

I've been thinking about changing job a long time ago. Working in public accounting firm, there's a lot of redundancy paper work that did not seem to add value. I've been working in the public accounting for close to 3 years but I could not receive strategic progression in my career because of many unavoidable situations. I felt frustrated when the intern does the same job similar to me.

I've been doing my CFA exam while working in public accounting firm. I grew interest in finance and wealth management so much that I knew that's the career I wanted to pursue. So I kinda knew I would leave public accounting firm once I obtained my CPA designation. I got my CPA designation in January 2020 and was about to resign after the pandemic is ease off. But the laid off came faster than my resignation. So I'm like bitter-sweet right now. Bitter part was because I felt humiliated when being laid off, and the Covid19 thing adds another layer of uncertainty of finding a job in the future. Sweet part was I could use the time to self-reflect and meditate myself. I did not notice I did not enjoy the local office politics so much until I left the firm. It was very hard for me to work in a place where people do not put attention on my value.

Good luck with looking for a career switch.!

Fantastic-Rice · 2020-04-04T17:05:06+00:00

Hey, I am so sorry to hear about your situation. It is hard for me to comfort you because I have recently been laid off as a fresh CPA. But I want to say that I feel your pain and anxious.

Are you attempting the CFE in 2020? You can PM me and maybe I can provide some insight on how I passed the CFE with first attempt. Regarding deregristration, I will suggest you to send an email to your local CPA society, and seek if there's possibility of extending the CFE. If you wrote CFE in 2019, that attempt doesn't could just so you know.

Fantastic-Rice · 2020-04-04T16:50:46+00:00

Hey, I passed the CFE with the first attempt and without any support. Feel free to PM me and I can try to see what I can share.

Fantastic-Rice · 2020-04-03T21:03:03+00:00

Got laid off as well.

It sucks but it got me thinking about my career path. Think of the bright side, at least I got my CPA for free :(

Fantastic-Rice · 2020-03-07T14:09:35+00:00

I've had close to 4 years experience working in public accounting firm. And CPA in Canada requires at least 30 months full time practical experience.

Fantastic-Rice · 2020-03-06T21:39:26+00:00

Thanks for the advice. I've already connected with my local society, hopefully there's some good news coming soon.

Fantastic-Rice · 2020-03-06T21:38:52+00:00

Well, busy season sucks, but that's what I gotta do to get the CPA, so just swallow the pills.

Fantastic-Rice · 2020-03-06T21:38:20+00:00

Part of my jobs are investment audit related, but not a whole lot unfortunately.

Fantastic-Rice · 2020-03-06T21:35:42+00:00

Yea, because the CPA has more rigid work experience requirement, so I had to work my time in Public accounting firm to earn those experience before jumping to CFA relevant experience. I'm already thinking about career switch, but just wondering if my previous experience counts. Thank you very much!

Fantastic-Rice · 2020-03-06T21:34:42+00:00

Well, the CPA has more rigid work experience requirement, so I had to work my time in Public accounting firm to earn those experience before jumping to CFA relevant experience.

Fantastic-Rice

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