Hey all!
My name is Michael Palantone, and I am very grateful for this opportunity to share with you future CPAs my path to obtaining that ever-important license, which all begins with passing the dreaded CPA Exam.
Before I begin, just a little bit about myself…I graduated from The College of New Jersey back in May, I am set to start working at KPMG this October, and I am currently studying for the Auditing section of the CPA Exam, which I take at the end of this month. Since mid-May, I have been using Becker self-study, and up to this point, I have taken FAR at the beginning of July, and most recently, REG this past weekend (beginning of August).
My plan from the start has been to work in “decreasing order of difficulty”; in other words, sitting for the exams in the following order: FAR, REG, AUD, & BEC. This is what many of my older friends have done in the past and have suggested…Get the toughest sections out of the way while you’re most motivated, because after two or three months of non-stop studying, it’s going to get old very quickly. And I’ve already found this to be true after taking my first two sections.
Now in no means am I an expert on this journey, but I have gained some helpful tips along the way that I plan to share, in hopes that some of them will be valuable to you as well. Having said that, I plan to blog at least once a week, and in each post, I will not only update you on my studies, but I will also share a piece of advice that I've picked up along the way. So here we go…
TIP #1: After you’ve taken an exam, MOVE ON.
I can’t stress this point enough. I am one of those guys that, after taking an exam, will immediately run to my textbook and check my answers. If you’re like me, try your best NOT to do it. After waiting a whole month for my FAR score (side note: the earlier you take a section within the quarter, the longer it takes to receive the score), I spent so much time thinking about how I answered certain questions and contemplating whether or not I passed. I spent hours on other CPA blogs, reading other people's reactions to the exams. I even tried to calculate my own score, which is impossible because the examiners use some wacky system to grade it (I still think it’s curved, but they swear that it isn’t…). And worst of all, I complained to my family and friends that I made “so many stupid mistakes” and that “I definitely failed”, making them stressed out too…It’s worth mentioning that I did NOT fail, and am so thankful to say that I passed with a good amount of points to spare.
From this experience, it’s safe to say that the majority of people feel that they failed the exam after they’ve taken it, but don't be discouraged and give up hope. It is a high-pressure exam, and you’re bound to make mistakes and even see things on the test that you’ve never seen before. But what’s done is done. You can’t change any of your answers now, so stop worrying about it! And best of all, you can always retake a section in less than 3 months! There are so many other post-graduate exams that you have to wait an extended period of time to retake (and the CPA exam used to be the same way, mind you), but be thankful that the CPA exam is not one of those. Yes, it’s certainly a lot of money and takes much of your time, but don’t forget that it’s not the end of the world and that you’ll always have another chance.
So keep your mind off that last test, and focus on the one ahead of you…Good luck the rest of this week!!!
Michael Palantone
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