The finer details of this episode:Differences between CMA (Certified Management Accountant) and CPA (Certified Public Accountant) exams/certifications Applying knowledge from school, exams, and work experience in current roleChallenges and loopholes in meeting the 150-hour rule Importance of practical work experience and technology in the industry Episode resources:Summit Virtual CFO by Anders website: https://www.summitcpa.net/Email us with questions or if you’d like to be a guest on the show:
[email protected]’re hiring! Check out our open positions: https://www.summitcpa.net/career-opportunitieshttps://www.linkedin.com/in/kadencook/ Time Stamps:Welcome to the Young CPA Success Show (00:00:01)Introduction to the podcast and its purpose. Kaden's Journey into Accounting and Certifications (00:00:23)Kaden's background, choice of certifications, and the differences between CMA and CPA exams. Discussion on School, Career Choices, and Future of Accounting (00:01:51)Insights on the 150-credit hour requirement for the CPA exam, career choices, and the future of accounting. Discovering Summit CFO through a Podcast (00:02:42)Kaden's discovery of Summit CFO through a podcast and the topics discussed in the podcast. Choosing CMA Over CPA and Its Benefits (00:07:12)Reasons for choosing CMA over CPA, including the differences in exam requirements and the benefits of starting the CMA exam during college. Comparing CMA and CPA Exams (00:13:19)Kaden's experience with both CMA and CPA exams, including differences in exam structure, content, and difficulty. Application of Knowledge from School, Exams, and Work Experience (00:18:30)Discussion on how Kaden applies knowledge from school, exams, and work experience in his current role, and the importance of understanding the material thoroughly. Understanding Financial Accounting (00:19:28)Kaden discusses how his college education greatly contributed to his understanding of financial accounting. Work Experience and CMA (00:19:49)Kaden explains how his work experience and CMA studies went in tandem, providing practical application. Challenges in Education (00:21:29)Joey and Kaden discuss the shift in education focus from understanding to chasing grades. Impact of 150-hour Rule (00:26:44)The 150-hour rule for the CPA exam is discussed, and Kaden shares how he and others found loopholes. Alternative Credit Acquisition (00:31:17)Kaden shares a loophole to acquire credits for the 150-hour rule through online FEMA courses. Debate on 150-hour Requirement (00:33:22)The debate on the value and practicality of the 150-hour requirement for the CPA exam is discussed. The Future of Accounting (00:37:09)Kaden emphasizes the importance of technological proficiency for future success in accounting. The importance of understanding AI (00:38:26)Discussion on the necessity of understanding AI and its role in the advisory world. Advising students to think beyond exams (00:39:28)Encouraging students to focus on synthesizing information and putting pieces together for future success. Appreciation and encouragement (00:40:01)Expressing gratitude to the guest for sharing insights and encouraging audience engagement. Opportunities for young CPAs (00:40:38)Promotion of career development opportunities for young CPAs at Summit Virtual CFO and Anders CPAs and Advisors.