Any CPA's in the house?

[NewJersey]

Any CPA's here? I'm studying to take the first part of the exam (it's now divided into four parts - all on the computer). First up for me is the Financial section (Acct 101, intermediate accounting 1 and 2, and advanced accounting topics). Just thought I'd see if any CPA's have advice for me for the exam. Thanks!

So far, all this is making me

 

[Bob Slydell]

Passed the CPA in 1996 (5 tries). Back then, you had to take all four parts together in 2 days and needed (at least in Ohio) to pass at least 2 parts (and get a minimum of 50% on the others) in order to keep those parts.

I've heard from DW (who passed in her first try in 1994 and has new hires taking it all the time) that with the move to computerized testing as well as allowing candidates to take one part at a time, the test has gotten harder. Sorry, that wasn't much help, was it.

Good luck. I would suggest taking a day or two off before the exam to get your mind ready for it and to do a last minute cram session. And I would advice not taking too much time off in between sections -- no more than a couple weeks off in-between parts, otherwise you risk getting out of that testing mindset that you still have for a while once out of college.

 

[NewJersey]

Thanks for the advice! I've heard from a few people not to go overboard the day before and just take it easy and relax. I'm taking the Becker review course so I hope that gives me a leg up. I plan on taking Financial towards the end of July and Audit the 2nd week of August right before I start work, and then Regulation a few weeks later and I don't take my Business review course until October so I have to wait until then to take that part.

I believe the passing rate is 75 and you have 18 months from when you pass one part until it expires and have to take it again (if I pass Financial next month, then I have 18 months to pass the 3 other parts).

I must say, I'm happy I'm getting half of this out of the way because once I start working, I'll have very little time to study.

 

[Bob Slydell]

Oh yeah, Becker's (or Conviser Duffy, if it's still around?) are a good idea. DW was afforded the luxury of having the time to take Becker's (and study day in and day out, since she didn't start working until September) and that helped immensely (I believe she got a 78, a 77 and two 75's). I, unfortunately, started working the week after graduation and thus had to squeeze in whatever studying I could in between work. Certainly try to get it out of the way before you start work, if possible.

 

[AnaheimGirl]

Might be a little late for this advice, but here's what I did. My last semester of college, I took Becker and treated it like any other class. Showed up for every class, listened and studied hard. I also worked as a tutor for lower-level accounting courses at school, which gave me additional review on some of the accounting coursework I hadn't seen for a while. I took it the first week of November 1986, and I remember I gave up going to a couple of Halloween parties and a concert to study, but it was worth it, because I passed all four parts on the first try.

So study hard, but don't get too stressed about it, either. I remember, we used to refer to it as "the quiz" in order to keep stress levels lower.

I think Newt tells you all this, but get a good nights sleep the night before. If you don't know the stuff by then, a couple extra hours of cramming is not going to help, it's only going to make you tired and less able to concentrate the next day. Eat a good breakfast. Bring along an apple or something if they let you. If you're stuck on something or feeling too overwhelmed, get up and take a break, it'll help to clear your head.

One thing I disagreed with Newt on, was sitting near your friends. He said not to, but I had a couple friends close by and I'll tell you it was a huge morale booster to look up and get a little smile or a shrug from one of them when we were stuck on something. They may assign seats now, though, so that might not be possible.

Good luck!