NJCPA Exam Cram Blog

Signing Off

Well, scores have been released and I am pleased to say I passed the fourth part of the exam. While this was a quick process for me (began studying for my first exam on June 8th, and took my last exam on August 31st,) it was by no means an easy one. In this final post I will highlight some of the strategies I used that allowed me to be successful in such a short time.

Lay out a plan for yourself prior to beginning... AND STICK TO IT. One of the hardest things for me taking the exam this summer was that I felt like every weekend something would pop up where a friend would ask me to go somewhere or do something. That is when the little accounting devil and angel pops up on your shoulder. I included in my plan some days off from studying, so If something popped up that I really wanted to do, I always had the option of moving one of my off days to that day, much like a flex player in fantasy football (NFL JUST STARTED SO I'M IN THE ZONE). 

Break up your studies throughout the day. For me this was one of the most necessary parts of my studies because I don't have the longest attention span. My typical day looked like the following:

8:15-9:00 - Wake up, shower, eat breakfast.

9:00-12:30 - Start Lecture/Homework

12:30-1:00- Eat Lunch

1:00-3:00 - Continue Lecture/Homework

3:00-4:15 - Go to the Gym

4:15-6:30 - Continue Lecture/ Homework

6:30- 7:15 - Eat dinner

7:15-9:30 - Continue Homework/ Wind down

10:00 Relax/ Sleep

At the end of each study hour, I would take a 5 minute break to get a drink of water or check my phone. This schedule gave me about 10 Hours of studying a day; however, it was manageable because I was breaking it up into no more than 3.5 hours at a time

Use a review course, and follow their plan. Now I'm not here to advertise; however, I used the Becker CPA review, and attended their final review sessions and I have nothing but good things to say about it. It truly is what I attribute most to helping me pass the exam. My education was a phenomenal base of knowledge; however, the Becker software gives you strategies for beating the exam, teaching you how to take it, and has a wealth of multiple choice and simulation questions at their disposal. 

Demand the best from yourself. No one is perfect; however, they can give a perfect effort each day. I demanded that I would give a perfect effort of sticking to my schedule each day. I said I wouldn't let anything come between me and finishing this exam prior starting work. Once I had that mentality, it was easier to drown out the white noise and focus on what was important. 

I know the exam will be changing soon, so I hope these tips are still applicable. I have enjoyed writing about my experience, and now look forward to the next chapter in my life. I will be starting work for Deloitte on September 28th, and there is no better feeling then walking in on day 1 with this exam behind me. Good luck to those taking the exam now and in the future. That's a wrap for me.

 

Was That The Last One?

Yesterday I sat for the BEC section of the exam. I have passed the other three parts. I felt like the multiple choice was a little harder than I had anticipated; however, the testlets got progressively harder, which I take as a good sign. The writings were not terrible. Now the wait begins to receive what may be my final score. I anticipate the score being released on September 10th; however, it may not come out until the 15th depending on when the AICPA receives the data from the test center. Regardless, I worked hard this summer and accomplished my goal of sitting for all four parts prior to starting work on September 28th. I hope I will have good news to report next week when I get my score! Since September is a blackout month for the exam, I hope everyone can take at least a few days off from studying and enjoy the upcoming holiday weekend. I look forward to hearing good results from everyone who tested recently next week! Good luck!

WAHOOOOOO!

I can not even describe the incredible feeling of finding out that my hard work has paid off and I was successful on REG. Last night at 1AM I found out that was the case. I have now passed FAR (07/01), AUDIT (07/20), and REG (08/08). I will be taking BEC on Monday (08/31). Needless to say, but this has been a packed summer of studying. I am very excited to have these exams behind me, and am trying to focus on finishing my studies for BEC. Congrats to those who found out their scores today and did well! I'll write again after BEC! Good luck to all!

The Anxious Wait Begins Again

For those who don't know, scores will be posted at 1AM eastern time tonight if the AICPA received your test data from Prometric by August 14th. Below is a countdown clock that NASBA so kindly provides. I'm beginning to see a theme with the CPA process. On exams, your clock counts down (which is like watching the blood drain from your body), and in waiting for your scores you get an Evil Countdown as well. 

 

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

 

Hopefully tonight's results will go well for everyone. I am more nervous than I had been for FAR and Audit in receiving my REG score tonight. It was harder than I had thought it would be even though I prepared as well as I thought I could have. The wait for the score is the worst part. I am attempting to stay focused today as I have to keep studying for BEC which I will be taking a week from today. I am feeling okay with the material. I went to a Becker Final Review session for it this past Friday. The final review is very helpful because it summarizes the key points, and it also provides you with additional questions and in the case of BEC writing prompts for the Written Communication section. I'd highly recommend attending one of the Final Reviews or ordering the lectures on line if you have the opportunity to because they have helped me greatly and may help you as well.

 

Good luck to everyone studying and taking exams, and finding out scores. I hope to post some good news shortly after 1:00AM. 

What A Feeling, I Can't Deny

Sitting, wide awake at my computer desk, it was 12:59 AM. I had time.gov open with the synchronized world clock, literally counting down the seconds until 1:00 AM would strike so I could log onto NASBA to check my scores for my first two exams. I had heard many horror stories of how the website would crash when the scores were released and I was just hoping to get on to the site at exactly 1:00 to find out my fate. Luckily, I was able to get through the site relatively quickly and enter my Section ID and my Birthday to find out my scores. I PASSED BOTH FAR AND AUDIT! It was an instant relief to know that all of the hours put into studying have paid off so far. While I have missed out on a few fun nights with my friends this summer, and haven't gotten to do everything that I would like, it was all instantly worth it when I saw my scores. I know that I will have plenty of time in the future to celebrate with them when all four parts are done! I am definitely going to use this momentum as I study for the rest of this week and get ready to take REG this coming Saturday. I am very thankful for the Becker Fast Pass course and for my Education at Lehigh University because they both prepared me incredibly well for these tests. Now, I'm half way home, and I will put as much focus into this next month to get the next two parts done as well! I hope everyone else who checked was as fortunate as I was; however, if you did not see the score you wanted, do not be discouraged. Use any setbacks as motivation to propel you to future success. Good luck to all who are studying, and getting scores back! Until next time...

2 Taken 2 To Go

This past Monday I took Audit. I think I was very well prepared for the exam. In my opinion, the Becker Fast Pass class that I took to prepare for Audit was more challenging and gave me a wider variety of questions then the actual exam did. I worked my way through the Multiple choice rather quickly, and then had close to 2 hours to work on my simulations. I am very eager to get my scores for both FAR and AUD to see if I am truly 50% of the way done. Now I have begun studying REG. While it is a shorter exam than both FAR and AUD, I do not anticipate it being any easier. I will be taking this August 8th, so from now until then, it is all studying. I will update you all when I hear back about my first test (I believe August 4th). Good luck everyone.

Final Week Prep Suggestion

I'm taking FAR in one week and the nerves have started to set in. I'm more just looking forward to getting this part done because I'll have only AUD left (assuming all goes well). 

Everybody approaches studying differently, however, for those that are looking to get the most of their final week here is one suggestion that has helped me. Towards the end of the review stage I have found it helpful to go through each chapter individually and hand write a Key Points Study Guide. This guide consists primarily of the "Stuff Ya Gotta Know". 

I usually go through the book of each chapter, write out key formulas and pass keys that should be memorized before the exam. I'll then take progress tests (usually 20 Qs) for each chapter individually. After completing the progress test, I'll make notes on the Chapter study guide about key points I may have missed.

Example: I just finished my Chapter 1 Final Study Guide. I've included (in detail) under the Key Points and Formulas: SFAC #8, OCI components, Segment reporting 10% & 75% Tests.....

Then I've added additional notes at the bottom from practice questions: "Assets Held for Sale are classified as a current asset, is no longer depreciated, and is the lower of book or net realizable value".

That way when it's time to do a quick review before the exam I can see the formulas all laid out and then additional notes at the bottom that can be read over once and will hopefully stick come exam time.

Everybody studies differently, but this has been a helpful tool especially when you're pressed for time. YOU MUST KNOW THE KEY POINTS (can't build a house without a foundation). 

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. 

USE THE OUTLINES

Maybe I'm just blind, but I had no idea that Becker provided Outlines for each chapter. The full chapters are great when going through the material initially, but when the clock is ticking and you need to know the key points go to the outlines. The outlines can be found in the top right corner of the Becker page online. I printed out each chapter and have been making my own notes on the side when I come across a key point. This is helpful when you come across a topic that you're struggling with and you find a bit daunting. Who knows maybe like a "grandparent finding about the internet" I'm the last to discover this, but it's a great tool. 

Update from my end: Pushed the exam back a week to July 28th. Second time rescheduling. I was planning on visiting my sister in Canada which is why I only moved the exam back 5 days the first time, but now I cancelled the trip. She's a full time triathlete so even though I won't be able to watch her race in Canada I'll throw her some support here! She'll crush the swim, bike, run like I will the CPA (fingers crossed). 

Behind Schedule

Between work and my family visiting for 2 weeks, I fell behind with my studies. I still have 2 chapters on Becker to complete for FAR and my exam was scheduled for 2 weeks from now, so I'm going to push back the exam into August so I can better prepare. There is a nominal $30 change fee with the Prometric testing center, but a fee well worth it if I go into the exam feeling more prepared.