NJSCPA Exam Cram Blog

Study Schedule

Hi everyone!

 

Just a quick tip on preparing for the exam today.  I find that laying out my schedule from today until the exam date helps me invaluably.  Becker software actually provides a quick schedule using a range of time suitable to most people taking the exam.  

 

It's a very useful tool and will be beneficial to anyone trying to pass the exam as soon as possible!  (I hope that goes for everyone reading this!)  It's also a good idea to give yourself a few days of wiggle room to fit in some accounting detox time and in case you need to spend a bit more time on particular sections.

 

I hope this helps you and hope to hear about many good stories of people passing the exam!

 

Happy studying!

 

Taka

 

 

Cost Measurement

Two weeks of studying down and four to go until the big day. I don’t know how I feel about that. Before yesterday, I felt pretty good about the discovery of my new study method (see my last post), but yesterday I felt discouraged. I could not focus on anything. I got home from work, ate dinner and cracked open the review questions (per my normal routine) to discover that they were going in one ear and out the other. Today will be a lost cause as I have dinner plans directly after work (hey, a girl’s got to eat, right?). However, I have high hopes for Saturday morning. Saturday morning is probably my favorite time of the week. I am an early riser, you see. I tend to get a lot done while the rest of the world is still sleeping or brewing their morning cup of coffee. This includes studying for BEC. Here’s hoping.

The good news of the week is that I think I’ve found my problem area with this part of the exam. According to Wiley, it’s called “cost measurement”. After taking each 30 question quiz, Wiley gives me a report on my overall score and then my score by section. There are about 5 or 6 sections in each quiz (thanks to my method of mixing all of the chapters up), all of which I score decent on except for cost measurement. Must find a way to defeat this…will get back to you on that one.

I really think my new study method is going to work. Before this method, I would take a quiz on one chapter at a time. I think this is kind of a skewed method because you can cleverly get one answer correct because your last question was on the exact same topic. By mixing up the questions, this doesn’t happen. Also, I don’t think it’s a coincidence that I keep scoring in the 70% range on my mixed chapter quizzes, which is exactly what I’ve been scoring on my exams. It’s that pesky cost measurement section that’s costing me the extra 5%!!

My game plan from here is to keep doing what I’m doing. I will probably devote a whole week solely to cost measurement. I may even take a few quizzes without including the cost measurement topic to gauge if that's really the hang up. If I score high on the quizzes with cost measurement removed, I can be sure it’s the problem. I will let you know how this goes once I get around to doing it.

In the meantime, if anyone has comments or tips on cost measurement equations, please share!

 

Lauryn

BEC: Round 4?

I have finally got up the courage to register to take BEC again. After almost 3 months of not even thinking about the exam, I've put it back on my radar. I've been SO close with my scores...I just can't let this section defeat me. On one hand, I hate to admit that I am taking BEC for the 4th time. On the other hand, I'm really glad that I haven't thrown in the towel yet. I'm hoping and praying that the 4th time's the charm.

I can't remember if I've mentioned this before, but I will be using the Wiley CPA Test Bank to study for BEC. I believe that I really do know the meat of the test...I just have to do more questions, questions, questions! I'm going to read a bit to refresh my memory, but I don't think that's what's going to be my saving grace. I'm going to focus my energy on multiple choice questions and flashcards and I'm going to mix them up. No more studying one chapter at a time. The test, after all, does not indicate which chapter you're answering questions from.

It is almost impossible for me to study during tax season, but I am going to make the effort. A friend of mine lent me his Another 71 BEC Ninja Audio...which I have been listening to in my car on the way to clients (like I don't have enough accounting in my life already!). I'm also going to do multiple choice questions here and there and carry my flashcards around in my bag.

I know I can kick BEC to the curb. I'm almost excited to take it in May (I know, I am crazy), so send your positive thoughts and/or suggestions my way!

Lauryn

The Hardest Part is Over!!

Greetings fellow CPA candidates! I must apologize for my lack of postings over the past month, it has been quite a hectic time for me.

Luckily, I have great news to share!  I have officially passed all 4 sections of the CPA Examination!  I am at a loss for words when describing how it felt to see that final passing score (FAR - 78).  I would have to place it somewhere between utter bliss and amazing relief.  I began studying for this exam in August 2011, so it has been a long and bumpy road, but the accomplishment I now feel has made it all worth while.  While the long hours of review and study are often lonely, I could not have finished such a daunting task without the support of my parents, siblings, family, and friends!  I love all of you and cannot thank you enough for being there for me when I was frustrated and wanted to give up.




I will keep posting because my CPA journey is not quite over.  Now that my examination and professional experience requirements are fulfilled, I feel the hardest part is over.  I am a measly 11 credits shy of attaining those three coveted letters after my name!  I plan on enrolling in graduate classes in the near future and will keep scouring the web for study tips and tools to share with everyone.  I used CPA Review for Free's new "Points to Pass" tool to help me prepare for and pass FAR this time around.  At ~$15 a month it's a great bargain compared to other titles.  I am still a big fan of Becker lectures and Wiley test bank exams as well.  And of course, I have to love the another71.com community for commiserating with fellow self-loathing CPA wannabes, as well as uncovering new advice from first hand experiences like on our blog here.  This will be much more enjoyable now that I know I never have to utilize these study materials again (except to review them for you)!

This calls for a small celebration!  Happy studies to all!
Alyssa 

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! :)

BEC: Part Deux

After finding out I failed BEC with a 70 last month and adding three weeks of additional studying, I sat for the exam a second time yesterday. I took a new approach for studying the second time around.

I didn't want to keep doing the Becker questions from my software because I was afraid that I had memorized a lot of the answers…and that's not really studying. Instead, I did AICPA released questions for BEC for years 2010, 2011 and 2012. These are really great tools to use and, starting in 2011 I believe, Becker provides explanations to the answers FOR FREE! In my opinion, anyone would be a fool not to utilize these because you're pretty much getting study material for zero dollars. (Can't beat that.) Also, another great resource I found is the Wiley CPA Test Bank. If you go to this website, you can register for 24-hours of FREE test bank access to all parts of the exam. I registered the day before my test and used the questions as a final review. The best part is that you don't have to give them your credit card or any other payment method, just your email. I found the questions to be very helpful and I hadn't seen a good amount of them before. I like the setup of the questions because they are all online, so they can be accessed from any computer with a username and password (unlike other review providers for which you must purchase a CD and download onto your computer). I definitely plan on purchasing the Wiley Test Bank for REG. I believe the subscription is around $100 for a full year and access to thousand of questions.

I hope these tips help you all out and I hope they helped me out as much as I think they did! I felt good about my exam…I just hope it's 5 points good and not 3 or 4 points good. I do not need a 74, thank you very much.

In the mean time, I will resume studying for REG, which I plan on taking sometime in November. To my understanding, the release date for my BEC score is November 5th. On the advice of a friend, I will not be looking at my BEC score until after I sit for my REG section. I want to be as motivated as possible for REG and I don't need some score hanging over my head like the black cloud of the CPA exam. After I take REG, I will find out about BEC. If I pass -- that would be awesome and even more motivation for FAR. If I don't pass -- well, at least REG will already be taken care of and I can focus on a new game plan.

Happy Studies!

Lauryn

BEC: The Results

Did you ever notice that, when you tell someone you didn't pass a part of the CPA exam, they tend to look at you like someone just died. Well, I've noticed it. Mostly because I just found out I got a 70 on BEC, here at work. Like I've said before, I am too curious and impatient to wait for that daunting email that pops up in your inbox with your fate sealed inside. I am a refresher. I will refresh the online score page on the NASBA site from the moment I see the Twitter update revealing that my section's scores have been released.

That, my friends, is how I came to find myself in this predicament. 70 on BEC. Here at work. I have to tell people how I did because, well, if I don't then they get to speculate that I failed instead of knowing the facts. I'd prefer to tell them, always. So I did. Of course, in return, I've received a handful of lost stares, awkward silences, and even the occasional hug. It's not like my great aunt Julie died, people! It's not the end of the world! And besides, I am one of those "always look on the bright side of things" people.

Therefore, I'll commence with plan B: put REG to the side and study BEC for the next 3 weeks with a tentative exam date of October 1 (I can't re-register for 48 hours, as all of you non-75ers out there already know). I am going to try to cram with either the Wiley BEC book or the Another 71 Ninja Notes. Anyone have any luck with either of these??

In the mean time, I'll be relying on the following quote, sent to me by a friend and co-worker: "Nothing is impossible. The word itself says I'm possible!" (Kind of cheesy, I know, but I hope it motivates you all as much as it does me.)

Happy Studies!

Lauryn

 

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

The Daily Grind

I have been meaning to post for several days now, but everytime I jump on here something seems to come up.  Whether it be work or personal, it just seems like life keeps getting busier and busier.  My work load is gearing up again as pension plans and other 6/30 year end jobs begin.  I am also beginning to schedule travel dates for interim work which makes me realize that this is not going to let up anytime soon!

Basically I have been slowly reworking my way through the Becker program for Financial Reporting.  I am shooting for a late August test date.  I have not scheduled my exam dates yet, and I don't plan to until I am at least 75% done studying.  At this rate, and because I will be in Texas for a client the last week of August, FAR may have to wait until early October (darn those black out months!!)  Also, I downloaded CPA Review for Free's $10 FAR app (oxymoron?) available on the iPhone.  Does anyone know if it is available for Android or Blackberry?  I hope so because it is a great and inexpensive tool that keeps me in study mode on the go.

Sorry I don't have too much to report on these days.  If you just graduated GET THE EXAM DONE THIS SUMMER!!!!!!!!  I really cannot stress this enough.  Do not hold off until you start work, it just gets harder and harder.  As for me that opportunity has passed, so I am looking ahead and staying determined to get this done by the end of the year :)

Happy studies,
Alyssa

On to the next: BEC!

I've been studying for BEC for the past week and a half and am currently on chapter two. Chapter one was a little bit of a shocker for me for a few reasons: (1) It's difficult to go from being so familiar with AUD to starting something new. It reminded me of how little I knew before I completed a whole section. I mean, when you start studying for a section, you really know nothing. There's common sense and all that, but it kind of feels like starting from scratch. Scary thought. And (2) BEC is COMPLETELY different from AUD (at least, I think so). AUD is from, well, the auditor's perspective and BEC is from management's. My whole thought process had to be flip-flopped. It took a while to get used to thinking this way.

I couldn't bring myself to write a post about this section before I started chapter two because, if it would have been during chapter one, it would have consisted of me saying: holy crap what the heck is this?! Now I am a little more comfortable with the concept of BEC. I have also discovered one (or two) saving graces: I learned a lot of what is in chapter two in college. We had a class my senior year which focused on management processes and economics, among other business topics. Amazingly, I am finding that a lot of these concepts managed to stick in my brain, which is definitely helping with the questions. Also, BEC omits the simulations and replaces them with a written section. I am going to pat myself on the back here and say that I am at least a little bit of a decent writer, so hopefully that part will be a breeze.

I'm not scoring as high on multiple-choice in BEC as I did in AUD, but I did notice that my scores are generally going up with every section I study. I'm hoping that, by the last
chapter, I will be an old pro at this. Forty-four days until my BEC exam and nineteen until I get my AUD score back. (Which, the more I think about, the more I want to faint -- can't I say that I only want it back if I pass?? I wish.)

Unfortunately, I won't get home until later tonight and will have to squeeze in studying from about 8:00pm to 10:00pm. Not my ideal time slot but it will have to do.

AND I've decided, after I pass the whole exam, I am going to buy myself a really, really good present. Currently, that (and the thought of having a life again) is what's keeping me motivated.

Happy studying!

Lauryn