NJCPA Exam Cram Blog

Better Late Than Never

Whoops, looks like I'm two weeks late to the party! Nonetheless, I am proud to say that on Sept 10th I found out that I passed AUD and am officially done with the CPA. At the beginning of the process I had a goal of passing all four parts before starting with Deloitte and while this goal was accomplished it certainly came with its trials and tribulations.

The CPA exam is difficult and it should be. Though the path towards CPA licensure is arduous, it provides the profession with a level of credibility supported by its core attributes; Integrity, Competence, Professionalism, and Diligence.

I believe the exam's difficulty stems from the studying time requirement rather than the density of the material. The concepts detailed in the exam materials can be mastered with adequate time. In my opinion, the exam tests your perseverance more than your test taking ability. Hopefully this provides some solace to those who have endured moments of struggle along the way. Remember you are far from alone. 

I want to thank all of those at the society and those close to me who have supported me along the way. It has been a blast writing for the blog and I hope I provided some of you with some insight into the exam. Let me leave you with my favorite accounting Youtube video. Everyone in the accounting profession should watch this Monty Python skit. https://www.youtube.com/watch?v=XMOmB1q8W4Y

Thanks for everything!

Almost Test Day

Well, these past few weeks have flown by. I took off the past two weekends, one to go to the beach on the Fourth of July, and last weekend to visit my girlfriend in Wisconsin. Who knew they actually had a beach in Wisconsin as well? For those who didn't, Lake Michigan is legitimately a beach (and that's coming from a New Jersey Beachgoer). Also, they have any type of cheese you can imagine, and it's far better than any cheese I have had in NJ. Anyway, I studied a little while I was there; however, since I have been back I kicked it into high gear. I have been studying pretty much all day, except when I take a break to eat, or go to the NJCPA Student/Mentor Night at the Somerset Patriots Game. I will be sitting for Audit this coming Monday. I feel pretty prepared, as I interned in audit last summer, took an audit class last semester, and have completed the Becker Fast Pass review of the material as well. It was surprising to me to see the stats of the Audit CPA test in relation to others, in that it is the least passed exam of all four. I do not think that is necessarily because it is the hardest material, I just think that as accountants, we are used to seeing numbers, and on the audit exam there are rarely any. What I have found is that in order to be successful, I have been reading the call of the question first like Becker recommends, and then I read the entire question, scan the answers, and then reread the question. After I reread the question I have a better idea of what it is actually asking. "Is it tracing or vouching," "Do they put this in the report, or that in the report," Reading carefully and taking my time, has helped me do better on the practice tests. Also, shoutout to Connor for posting, in my opinion, two great posts (I had no idea about the outlines, or the correlation between Becker scores and the actual exams). If this blog can help others as it has helped me already, then I'd say it's truly worth it to read. You decide for yourself! Good luck to all taking the exam and in your studies. 

Now it's MY time!

 

"If you believe in yourself, and have dedication & pride, and never quit, you'll be a winner"- Paul Bryant

I wanted to introduce myself & tell you a little bit about my story.

Like many of those that have blogged here in the past and that are currently blogging, I started my CPA exam review right out of college before I started at WithumSmith+Brown full time.  I failed a few of the exams, got intimidated & postponed/rescheduled a few, and finally after about 3 years and countless of on and off again studying I passed my first CPA exam part: Audit!  Well I just couldn't get the next exam passed (failed with a 72, 73, & 74).  I lost confidence in myself so I took a "hiatus" from the exam.  During that almost 2 year "hiatus" a few things happened to me:

• I lost the credit for passing Audit
• moved from the traditional side of accounting to our firm's Litigation Support Group
• got engaged and
• now I'm officially a "Mrs."

After talking with my mentors & career coaches at the firm, we decided the best course of action for me to finally pass the CPA exam would be to enroll in the Becker "Fast Pass" Program.  So here I am, back on the horse.  I'll be taking you with me on my ride through this process.  

My story isn't typical nor is it ideal.  I would have loved to have passed all four parts early in my career.  But that's not how things worked out for me so my goal through this is to encourage those that feel intimidated or frustrated with the exam and the entire process to not give up.  Now it’s MY time to pass the exam and you can too! 

 

Falling behind this week

This week I was supposed to complete 2 chapters on the Becker software and am about to finish the first chapter, meaning that I have alot to catch up on this weekend. I had planned on spending my two days off this week studying all day, but was tempted by friends to go out fishing instead. While we had an awesome time and caught tons of fish, my studying time was sacrificed and I'm going to have to make up for that. I also spent some time this week writing an article for the NJSCPA Pulse about how the CPA exam is scored, so keep an eye out for that in the July edition of Pulse. 

Til next week..

 

Halfway through FAR studies

Today I'm wrapping up my studies for Becker chapter 5 of FAR. There are 10 chapters for FAR, so I'm halfway through. This will keep me on schedule to finish all 10 chapters by mid July and then have 2 full weeks to review. I'm not being very diligent with my completion of the simulations at the end of each chapter, but I am working through the multiple choice. My plan is to focus on the simulations in the two weeks before the exam. This is the strategy I took before the other exams and it has worked well so far. I work a double shift at the restaurant tomorrow, so I wont be studying at all tomorrow. However, I have Monday off from work, so will try to complete the videos and multiple choice for chapter 6 that day.

Struggling through FAR

I just finished working through unit 3 on Becker's review for the FAR exam. I have the exam scheduled for July 30th in Miami, and have started studying in the last 2 weeks. I have been trying to study for about 2 hours each day. I've gotten into a good routine- wake up, go to the gym, study for 2 hours, go to work at the tiki bar until it closes, sleep and repeat. I am finding the content of FAR to be more difficult than BEC and AUD, so I am glad that I am giving myself two months to study for this exam, since I am also working full time while studying. To stay on track with my study plan, I have to finish unit 4 on Becker by Monday. If I stick to the plan, I will have two full weeks before the exam as review, so I am hoping to stick with this schedule to give myself ample time for review. 

Back at it

So, the busy April 15^th deadline is now a few weeks past us, and that means back to the Becker books for me.  The last thing I want to do is sit inside and study as the days get nicer here in the spring, but I know in the end it will all be worth it.  I am tired of having this exam hanging over my head, so I am really going to buckle down these next few months, and finish up my last two parts of the CPA exam.  

I am back to studying for FAR, as I did not pass back in January, but I still have plenty of time.   FAR is definitely the most intimidating part for many people, and I am no exception.  Therefore I decided to really slow down in terms of my studying, put in some extra time, and leave plenty of extra time at the end for review.  I will be listening to every Becker lecture, reading the chapters again, and doing every multiple choice question and sim at least once. I am also taking notes and going back through sections that I struggled with, which has helped me in the past.  Plus, having seen this information once already makes it much easier.  So while there is still a long road ahead, I am confident that come exam day I will be ready to go.  I will keep you posted as the studying continues.  For all those out their studying, it is time to really get back into it.  Just don’t lose faith, keep plugging away, and soon enough it will all be worth it.  Best of luck!   

 

Joe 

Waiting Once again

Hey everyone! I know once again it has been quite a while but I am back here with another update on my CPA exam.  As you know FAR was my next test, and I actually just took it about two weeks ago.  Unfortunately, I didn't get nearly as much study time as I would have liked because I was very busy at work for the past month or so. But, I studied when I could, and I actually felt very good about the exam walking out of the testing center. Now it’s just a waiting game until the score release in a couple weeks.    

I will let you know my scores when I find out, and as for now I am going to wait to hear my score until I schedule my next exam.  I think my plan going forward will be based on this result.  If I pass of course I will move on to REG, which would be my final exam.  If not, then I think I might take FAR again while it is still the latest exam subject on my mind.  Either way, I am going to wait until busy season at work finishes up to get another full session of studying in.  I am looking to sit for the exam once again sometime in the end of May, regardless of which exam it is.  Ultimately, I am looking to get this exam done with once and for all by this spring or early this summer.  I will keep you posted and good luck to everyone else studying!

Joe 

Two Down!

I passed Auditing and I now have two exams out of the way!  I finally passed a few weeks ago, and what a weight it is off my shoulders.   All I have to do now is focus on FAR and REG and my CPA exam will be complete.  This was my second time taking Auditing, as I did fail once over the summer, but I can say studying is much easier the second time around.   For anyone out there struggling, or upset because you failed a part, understand that all the time you put studying in the past is still valuable, so don’t let too much time escape from you.  Get right back into studying and the information will still seem very familiar.  To go along with this, schedule your exams right away.  If you fail, schedule your next exam, and you will immediately begin to base your study schedule around the exam.  Waiting will only cost you valuable time.  I personally am taking one exam approximately every two months, which I believe is a good standard, and very reasonable.  It gives you 8 - 10 weeks to study, which means one Becker lecture every week, with a week or two at the end built in for review.  Ultimately, just schedule your exams, get yourself a schedule for studying and stick to it as best you can and you will be fine.  

As for me, I have been keeping busy at work, but I am still finding time to study.  I have moved on from AUD and have started studying for FAR, which I am scheduled to take in mid-January.  So far I am slightly behind my schedule but these next couple weeks I plan on catching up.  I will keep you all posted on everything, and best of luck to all those studying!

 

Joe

AUD Exam Up Next

Hey Everyone,

I know it has been a while since I last caught up with you all, but so far I am still studying hard for my Auditing Exam.  I’ve been studying since early October, and I am being much more diligent this time around studying. I have also paced myself a lot better.  I am going through each sub-section at a time, and really making sure that I am understanding the concepts behind each question.   In addition, one thing that I have been doing which I believe has helped is to continue to do progress tests along the way.  The CPA exam covers so much information, that the first time I studied, I realized when I got to some of the last chapters that I had forgotten what I studied early on.  Therefore this time I’ve been studying each sub-section of a lecture, and when I finish an entire Becker chapter, I will do a 20 or 30 question progress test of the chapter as an overall review.  Then I will go back and do a 20 or 30 question progress test for each of the previous chapter that I had already studied.  For me it has been a good way to recall a lot of the earlier information, and ensure that I keep it fresh in my mind, and don’t forget it by the time the exam rolls around.  This might be a good method to help some others out as well.    

So far I am just about done with lecture A4 of Becker, out of six total lectures, and my exam is coming up on November 1^st.  I plan on finishing the last two chapters by this weekend or early next week sometime, and that will give me a solid two weeks of straight review.   I think with this strategy I will have enough time to review for the exam without feeling rushed and having to cram too much for the exam. 

In all studying is going well, and I am feeling much more confident about the exam this time around.  I will update you all again sometime next week as my exam date starts closing in.  Good luck to all those studying!

Joe