NJSCPA Exam Cram Blog

Busy busy busy

Hey everyone!

 

Time for a few midseason tips!

Number one, study for the exam as much as possible before you start working.  Although I'm taking a break from studying during busy season at work, I also wouldn't want to imagine taking on that task right now.  It takes a tremendous amount of willpower to study day in and day out during this time of year when you work full time or even part time.  I have the utmost respect for anyone who can successfully study for a section like this, but would not suggest it for most people, including myself. 

 

It is for that very reason that I reiterate, study for the exam as soon as you can so that you won't have to worry about passing a section or missing the 18 month window.  It may seem like a bother to study during the summer or during your days off, but trust me it is worth it. 

 

As I've posted before, I have 2 more sections that I haven't been able to pass yet, Audit and Regulation.  It has come to my attention that the CPA exam will be changing its format and certain material, particularly Audit, that will take place in June.  That means that May is the last month that you will be able to take the exam in the format that we have been studying in.  It is for this reason that I plan on taking the 2 sections I still need in May so that I won't need to worry about new information to learn/review.

 

I hope that this is useful information for those of you who are currently studying and considering taking the exam soon.  Best of luck to all who are braving the busy season by studying and hope to see you pass soon!

Happy studying!

Taka

…and now, let’s wait! Again!

I took the AUDIT part last night and now I am looking forward to my score.

Beside BEC, I would think the results should come out quicker if not immediately since it is all computerized.

As we all know the test is brutal, each and every part.

AUDIT is four hours of terminology examination. I felt it is testing the exhaustion point of the brain. How long can somebody stay 100% focused on the screen?

My fears were mostly related to the wording of the questions. A thousand variables could come into play, not to mention the test itself, to make you lose the maximum concentration. The difference of a correct or wrong answer could lay in a single word: should/must, most/least, all/not, compile/consult, audit/review, exam/attest…

Furthermore, some questions came out of Mars or Venus. I was asking myself: “How in the world do I know that?” And I even felt confident of my preparation?!?!

We can make all the speculations we want about the possible outcome, but we will never know what exactly went wrong, or right.

In the end, if the result is positive: celebrate! It’s the fourth one! The last one!

If it is negative: well, it’s understandable to feel disappointed but… back to studying!

So, see you on the 11^th of March for the scores.

 

Stay tuned for more.

 

Claudio B.

While I was studying for AUD test…

Dear future Auditors,

While I was preparing the last test – AUDIT – I was wondering what it will actually entail being an auditor. (Yes, I am leaning toward the auditing career!)

What will a typical day on the job be? So, I googled it and found this article:

“Auditing for Dummies: Day in the Life of an External Auditor” (by Viktor S., Apr 25, 2009.)

It starts with the auditor asking: “Why do people pay us money to do something that they don’t want us to be there doing?” and describing the pains and sufferance of the auditor dealing with his “wonderful” clients.

The article is an eye-opener, somehow sad, but with a humorous finale. I especially like the ending, after the author implores the clients to do a better job on their part – “Moral of the Story”:

“Not only will this save you (and me) a whole bunch of late nights in the office and some very unpleasant conversations, it will probably also save you several thousand dollars in audit fee overruns. Because we WILL bill you for your incompetence and screw ups when it costs us time and effort.”

Isn’t this great? I love it!

Stay tuned for more.

Claudio B.

Two weeks to the due date!

Only two weeks to go until the last test – AUDIT!

RELIANCE on passing it is very HIGH;

CONTROLLED risk is very LOW, I still have another 6 mos. available before the end of the 18 month period;

DETERMINATION is at the MAXIMUM level

SUBSTANTIALLY I am very nerve wrecked!!!

 

Stay tuned for more.

Claudio B.

 

PS: congratulations Alyssa, see you on the other side of the finish line.

(Hopefully) Happier New Year

It's no secret that I have been majorly slacking in the blog post department as of late. I believe, at the time of my last post, I was waiting for my BEC score. If you'll remember, I scored a 69 on BEC during summer of 2011 and a 70 on it during October 2012, so I thought I could bounce myself over the extra 5 points by studying for a few more weeks and re-taking BEC in November 2012. I received my score some time in December and was greeted by a big, fat 68.

I didn't really understand how that was possible. After basically not studying at all for the test in 2011 (you know, post-college graduation, pre-full-time job stupidity), and studying my a** off for the test in October, I couldn't really fathom how I could receive practically the same score. I was really angry, I think. "Why does it matter if I study or not, then?" I thought. So I decided to put BEC aside and continue on with my plan to take REG in late November.

I failed that one, too. And along with that attempt comes a similar story of how I "barely studied" during the 1st go-around and "studied so much I had no life" during the 2nd go-around and still got virtually the same score. After receiving this "F", I decided to abandon my plans of taking FAR in late January. I had no hope left inside of myself with which to conquer "the Beast".

I believe that leaves us to where I am now: slowly building my confidence back with plans to take my next exam after tax season and most likely some time in May. I am thinking BEC (I know, I'm a masochist -- but aren't we all? Taking this exam?). I figure I will only have a month and a half to study and BEC is the shortest exam, so it just makes sense.

My plan is to give myself a little bit of a breather (...during tax season...oxymoron...) and to read my BEC text whenever I have a spare minute. Nothing crazy, just as a refresher until I start seriously studying in late April.

I am very happy (albeit, rather jealous!) for all of my fellow-bloggers that have had recent success with this exam. I have faith that I, too, will pass this thing. With 3 parts left (BEC, REG and FAR) and 1 part expiring in exactly 1 year (AUD). I really have to get my head on straight and start kicking some exam butt!

Now that you are all caught up, this is where I tell you that suggestions are welcomed, even though I am pretty sure I've tried everything short of hypno-therapy (...although that doesn't sound like too bad of an idea right about now). I hope you will forgive me for my absence.

I'm back.

Lauryn

Nice!!!

I'm beyond happy to report that I have passed audit!  I seriously cannot put into words how relieved I am.




Work has been hectic with planning and interim work leading up to busy season.  Luckily I have about a week and a half of holiday time and personal days saved up so I can get some serious studying in before January.  My goal is to pass FAR this time around (got a 74 the first time) so that I can stay completely focused on work throughout busy season.  Then, this summer, I can take the 3 classes I need to fulfill my education requirement and FINALLY MAYBE HOPEFULLY be able to call myself a CPA.

I want to give some thanks to all the employees at Weiser who make the CPA initiative possible, especially Sandra San Juan who leads the program in the NJ office.  Working and studying for the exam can be rough, but it really does help to have a support group that places importance on passing the exam.

Well, the only thing I'm not ecstatic about right now is the fact that I have to attend an inventory count tomorrow (read: Saturday) morning.  Looks like I have to wait one more day to celebrate this great success LOL.  Everyone have a great weekend, a happy holiday, and some happy studying.

All the best,
Alyssa

Great Success!

Following the recent hurricane, I had received an email from NASBA informing me that my scheduled score release for AUD was being delayed another week from 11/5 to Monday, 11/12.

For whatever reason on Friday afternoon, 11/9, I found myself logging into the NASBA website. As the page loaded, I raised my hand over my screen in fear of seeing the word "Failed" alongside the AUD line. As I did this, I happened to notice an additional expiration date on the right side of my screen. I had passed! The scores had been released earlier than expected, giving me quite the reason to celebrate over the weekend.

FAR is now the last section which stands between me and a CPA license. With a scheduled test date of 12/6, I'm crossing my fingers that this will be the best Christmas everrrrr!

Studying and Sandy

Well first of all I just want to recognize the fact that many people, CPA candidates included that have been affected by the weather in the past week.  I luckily lost power for only a few days, but I know others who are still running without it.  Point is, each person writing and reading on this blog is somehow affected by this.  So don't hesitate to go out sometime in the coming weekends and volunteer in any way you can.  There are plenty of people who can use the help now.

 

That's all for my public service announcement.  Now, on to the CPA side of things.  It's a bit difficult to study in the dark as I've come to find out for myself, so this week has been a bit of catch up.  From what I hear, A4 is the most important section in Becker's materials, so I'm headed for a long weekend ahead.  Good thing is that I'm about halfway done with audit!  Plus my BEC score should be up in a few days so I'll be intent on finding out how well I did there (some scores have been released today so if you're waiting, check now! - see link below).

https://ncd.nasba.org/gwprdv2/servlet/hgwcs01

 

Happy studying! :)

My Final Thoughts and Well Wishes

Hello again friends,

This will be my last post in the blog. I have officially reached the end of my CPA license journey. I sat for the exam beginning in July 2010 and passed my final part in May 2011. Afterwards I took 15 months to complete the final requirements necessary to successfully complete my application for licensure and last week I officially submitted my completed application to the State Board!  

The journey to becoming a NJ CPA is long, but it can be done! I have spoken to many exam candidates over the past two years and I have learned that with a good plan, determination and a lot of hard work you can pass the CPA exam.  

Last year I wrote an article that summarizes my tips and tricks to successfully passing the exam (“Just stick to the F.A.C.T.S. - 5 Tips to Pass the CPA Exam”: http://bit.ly/mUZriD). Take a look at the article and try to incorporate those suggestions into your study plan. With the right balance and plan of action, you will be a CPA!

I’d like to thank all of those who followed my journey. To you all, I wish you the best of luck on your exam preparations and bid you all a fond farewell.

Warmly,

Jerry

The Glass is Half Full

As I sit and write my first entry to the NJSCPA Exam Cram Blog, I’m finding it difficult to know exactly where to begin. My name is Michael Lamela and I’m a staff accountant at FMRTL in Cranford, NJ. After graduating from Bayonne High School, I stayed local and attended Saint Peter’s College for the next four years where I graduated in 2007 with a concentration in Business Management.

When I entered college, I wasn’t yet sure what I wanted to do for a living. I only knew that I wanted to work in business and be successful. As I entered my final year at SPC, it came as a blessing in disguise when I took a part-time job at a small accounting firm in Jersey City. While I never imagined a career in accounting for myself, I found that I actually enjoyed the work. Once my first tax season came around, I even got to prepare my own tax return and I became very interested in the area of individual taxation.

I was offered a full-time job following my graduation from SPC and made the decision stay and become a full-time accounting nerd. This meant that I would now have to go back to school and obtain additional credits as well as a concentration in Accounting (I never considered remaining in the profession without the intentions of becoming a CPA). While going back to school right after graduating was not part of my initial plan, I accepted the opportunity and worked towards a Masters in Taxation.

So here I am, five years into my career as an accounting professional. I’ve completed the credit requirements to become a licensed CPA in the state of NJ, and I began the process of studying for the CPA exam about a year ago upon graduating from SPC with my Masters. I chose to do Becker’s self-study, as I could not imagine coming out of tax season and into a summer full of Saturday CPA review classes.

I started by taking the REG and BEC portions of the exam last summer, however I did not pass either on the initial attempt. Fortunately, I was able to focus and bounced back by passing both sections within the same testing window in November of 2011. Since then, I allowed myself to become a little too comfortable in my studying habits and after now failing the AUD portion twice this summer, I’m in need of some motivation. The pressure is on to finish this year, prior to the start of another tax season. And while the task may seem daunting, it’ll be well worth the time and effort I put in.

Throughout the remainder of my testing, I look forward to sharing my own personal experiences with those who have entered this struggle with me and those who are just beginning the process. Soon enough I hope to be spending less time with Tim Gearty and Peter Olinto (Becker’s Instructors for those are unfamiliar) and more time with my fiancé, family and friends. Happy Studying!

Mike