Which is Better: A Year of Education or a Year of Experience?

The 150-hour rule is facing harsh criticism in the accounting staffing crisis.

With Steven Sacks
The NEW Fundamentals: Thriving in Disruption

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.

MORE STEVE SACKS: Sell Service, Not Hours | Fine-Tuning the Subscription Fee Model | When Cyber-Crime Hits Close to Home | How to Build a Winning Proposal | Six Ways to Fix Your Firm Agreement | The Great Resignation or a Reshuffling? | Listen to Learn | Build the Framework to a Solution with Five Answers | Try for Success, Not a Win
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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.

Posted on August 13, 2023

Steven Sacks

About the Author

Steven Sacks, CPA, CGMA, ABC, has been at the forefront of the accounting profession for 30 years.

He is the author of
"The NEW Fundamentals: Practical Guidance for Today’s Accounting Firms,"
available here from CPA Trendlines.

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His involvement included the development of the first set of consulting standards, the creation of the Accredited in Business Valuation credential, the publication of practice management guides and award-winning newsletters, and addressing business development and organizational management in both the public and private sectors. He has served professional service firms and membership associations through the deliverance of leading-edge conferences, presented to colleges and universities on careers in accounting, and created workshops, webinars, and webcasts on a variety of accounting and consulting topics.

As the CEO and founder of Solutions to Results LLC, Steven assists professional service firms and organizations to solve the challenges of human capital development, workplace culture, and developing effective internal and external communication strategies and techniques. Previously, as executive director of Moore Stephens North America, he served CPA firms with conferences, webinars, workshops, various communication vehicles (including a multi-year, award-winning association newsletter), and a skills database for the development of domestic and international engagement referrals. At the AICPA, he developed strategies and business plans for growing the consulting services membership section; published technical service and practice management guides; participated in the creation of the first set of standards for consulting services; led the creation of the Accredited in Business Valuation credential; developed niche conferences in valuation, litigation support and forensic services; and presented to colleges and universities about CPA consulting careers.

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