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Essay / Research Paper Abstract
This 10-page paper discusses whether the 150-hour rule required to take the CPA exam actually discourages people from entering the profession. Bibliography lists 7 sources.
Page Count:
10 pages (~225 words per page)
File: AS43_MTonefifac.rtf
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Unformatted sample text from the term paper:
accounting as either a graduate or undergraduate. You would cram. You would take the CPA exam and likely fail it once or twice before returning the third, fourth or ninth
time to pass it. But in an effort to try to bring down the number of first- and second-time failures on the incredibly
difficult CPA exam, the American Institute of CPAs and the National Association of State Boards of Accounting put a provision in the Uniform Accountancy Act to implement the 150-hour rule
among would-be CPAs. In other words, rather than taking the CPA exam right out of college (or in some cases, during college), potential auditors and accountants would now be required
to go through stricter standards, including 30 extra credit hours to obtain a degree. Though the rule is made on a state-by-state basis (its not a national rule), its in
effect in all but a handful of states. The thought behind the rule (in addition to making it easier for accounting students to sit, and pass, their CPA exams), was
that individuals with those 30 extra hours had more confidence and were better educated and more mature. There is some fear, however, that
the rule is having a negative effect by driving students away from the profession. It isnt that the students are lazy, but school costs money. A fifth year of school
costs money. And the coursework required to finish that fifth year tends to be pretty dry and stale. Furthermore, some of the accounting community points out that the generalized accounting
subjects taught in this fifth year simply arent applicable to real-world situations. In this paper, well examine whether the 150-hour rule actually does
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