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ABSTRACT:
With average CPA exam pass rates typically in the low 50% range for each exam section, a significant number of students struggle to achieve success with the exam. Public accounting firms are increasing pressure for students to complete the exam prior to the start of employment, and this pressure resonates on accounting programs to develop a methodology, which will assist students to successfully pass the exam often during the fifth year of academic study in a 150-hour program. Two challenges faced by accounting programs to achieve this goal are a full curriculum with little room to add exam preparatory assistance that will increase exam success, and a changing demographic of student who is older in age that typically has less success demonstrating mastery through examination. Data does support the fact that CPA exam first time pass rates drop as the age of examinee increases. This paper examines methodology that accounting programs can consider that will provide a more supportive environment for older students to achieve success on the CPA exam.
KEY WORDS: CPA pass rates, performance, non-traditional students
INTRODUCTION
It is no secret that students with an accounting degree rarely have problems seeking employment. US News Careers ranks a degree in accounting as #3 for best business jobs, and #16 of the best 100 overall jobs (US News Best Jobs, 2016) The Bureau of Labor Statistics forecasts that 166,700 new accounting jobs will become available between 2015 and 2022. Based on the growth in the profession, many accredited accounting programs routinely have job placement rates near 100 percent leading interested firms that recruit on campus to have more open positions than qualified applicants (Gramling and Rossman, 2009). Enrollments in accounting programs are typically stable or in decline despite the career opportunities available, and accounting programs struggle to meet the demand of employers as a result of the number of courses in the undergraduate major and the requirement of 150 credit hours of academic study in most states (Gramling and Rossman, 2009). Allen and Woodland (2006) and (2012) show that there was a reduction in the number of college students entering the profession as a result of the 150 hour requirements. Jacob and Murray (2006) showed that when there is an option available...