the 150-hour rule is facing harsh criticism in the accounting staffing crisis.
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there is a movement afoot by the state cpa societies to reconsider whether the fifth year of an accounting program that offers the student a master’s in accounting is worth the cost, not to mention the increased complexity of business requiring as much exposure and experience as necessary to groom the younger professionals.
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however, there is a shortage of 300,000 cpa candidates entering the profession’s pipeline. that’s why several states are seeking to eliminate, modify or enhance the educational/experiential model.
steve sacks, cpa, cgma, abc, discussed the dilemma of education versus experience with accounting expert david bergstein, cpa, the chief innovation officer for bergstein cpa and teaching adjunct for valencia college.
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