Posts tagged: CPA REG

The Longest Reach – How To Combat A Failed REG Attempt

January 17, 2013, by No comments yet

Written By Guest Blogger John E.

On an afternoon in late 2012, I sat quietly in awe as my advisory score flashed on my computer screen. I could not believe it. After putting in 125 hours of study time and hammering away at 1,900 test-prep questions, I was expecting something great. What I hoped for never happened. The result of seven weeks of studies and countless questions netted me a fail.

I wasn’t angry or sad. This grade, the lowest I have ever seen literally drained the hope out of me. This score had me second guessing my abilities. I managed to pass three sections in the matter of five months. I did this using Gleim books and Test Prep software alone. Passing FAR, AUD, and BEC in just a short span of time really had me confident and optimistic. I thought that I would pass REG on my first try when I sat for it on 10/31. I thought momentum was on my side.

I let myself and my family down. I have a wife and young child waiting for me to be done with this arduous journey. I can’t let this happen again. The only way to move forward is accept the failure and forget about it. After having a little time to reflect on my failure, it was clear I shouldn’t have sat for REG so soon. After passing three parts in five months, I had two options before me: study for REG and take it for the fourth quarter or take a break and come back fresh in 2013. My parts don’t expire until November 2013 anyhow. I was tired and knew I needed a rest, but I thought momentum could push me through. Noticeably, my intensity on day one of my REG review had plummeted. I had become lax and was cutting corners in my studies. At the same time, I was cavalier, overconfident, and denying the possibility of failure. I had gone through the same study schedule for REG as I had for the previous three sections that I passed. Yet this time I failed to give it my all, and I never tailored my study strategy for this particular section. Please take my advice and take this thing seriously. Don’t waste your time or money.

When I start back this month, I will be ready once again. I will have a clear mind and a passion to succeed. I anticipate re-taking REG by the third week of February. This time around, I will be straying away from the book and Test Prep alone; I will take my studies more seriously and will use the entire Gleim CPA Review System. I will follow Dr. Gleim’s system exactly. I know I will be successful once again.

 

The REG Portion Of The CPA Exam: “WHOA!”

December 27, 2012, by No comments yet

Written By Guest Blogger John E.

Hey everyone. I just came back from my REG exam. My first reaction to this exam was “whoa!” This had to be the most challenging of all sections. I know the review for this part was very challenging for me. I allowed myself seven weeks to prepare. I spent 134 hours studying and answered 1,900 test prep questions to prepare me for this section. As I have stated in my earlier posts, I don’t think the material is tough to understand, there are just so many variations and details to consider. Especially when it comes to taxation and computation and the components to apply as it relates to income, loss, gains, and deductions. I felt that there was more to memorize overall, even when compared to FAR. Remember the devil is in the details.

On test day I was well-rested. The two previous nights before the exam, I managed to get eight hours of sleep. I arrived for the test about an hour and forty-five minutes before my time slot. I wanted to get there early enough so I could do some last minute skimming and light reviewing. Fifteen minutes before my exam, I was wrapping it up. I felt confident with my review when I was going into the Prometric center.

During my first testlet, I told myself to breathe slowly, don’t panic, and just focus on timing. It is way too easy to get caught up in a tough question or two and end up burning extra time off the clock. Every second counts. So after going over a few questions and flagging a few that I truly didn’t know, I made a quick recovery of lost time as
I blazed through testlet two. Fortunately testlet two was less difficult for me than testlet one. My goal was to budget thirty-five minutes in each testlet. I spent forty-one minutes in testlet one and thirty or so minutes in testlet two. Testlet three felt easiest of all. In each testlet, I flag questions I am unsure about and use that as a visual indicator of how well I am doing. The number of questions I was unsure about appeared to be on par with all the other sections of the CPA exams I have taken. After wrapping up with testlet three, I was heading into the task-based simulations with one hour and fifteen minutes left.

Even with over an hour left to complete six simulations, I wasn’t ready for a bathroom break. The five minutes wasn’t worth sacrificing. It could mean the difference between passing and failing, which was a risk I couldn’t take. The simulations were hard and involved complex scenarios with eloquently written instructions. I quickly glazed over all six questions, scoping out those that were the most difficult and opting to start with the most familiar problems. The authoritative research simulation wasn’t too hard to complete. Then there were three familiar simulations I felt fairly confident about. After completing four of the six simulations, I had roughly twenty minutes to spare. I know this is cutting it close, but I knew what the questions required. I feel 50% confident about my responses. They were haphazard and somewhat-educated responses at best. I didn’t know the content well enough. Nor did I have enough time to teach myself. However, I know it is better to plug in an answer than to leave it blank while you are researching the authoritative sources. All in all, I felt like my performance in the simulations was reasonable enough to get me a passing score. My advice to you is to study hard and try to retain every detail possible. You just might be surprised of what is asked on test day. Eerily enough I have the same post-CPA exam feeling as I did for the other sections taken: unsure and optimistic. This feeling, however, is better than the opposite.

 

Less Than a Week – REG Has Been The Toughest Section of the CPA Exam

December 27, 2012, by No comments yet

Written By Guest Blogger John E.

Since my last post, I had less than two weeks to prepare for my exam, which is less time than I usually have for my final review. I know that I gave myself two weeks of comprehensive review for FAR, AUD, and BEC. REG is a different beast altogether. I feel that the REG content is more difficult to digest. There were a lot of different components within a given subject to commit to memory. REG has so many variables to consider. It covers deductions, exemptions, income, AGI limits, treatments for tax preparation, reporting of business transactions for various entity types, and federal regulations and statutes. These items I just described (which encompass a few study units in Gleim materials) are just some of the voluminous concepts that a candidate is expected to know in preparation of the REG exam. To me it feels as if FAR and REG are both like bodies of water that are a mile wide and an inch deep, but REG has rocks and sharp object lying just beneath the surface. The argument of which of the two is more difficult comes down to the candidate’s strengths and background.

To me, I think that REG is the toughest. Although I take a liking to the concepts tested in REG, my experience with intensive taxation topics, business planning, business law, IRC, federal statutes, and other governmental/agency regulations is minimal, and I do not practice such in governmental auditing. At one time, I prepared personal returns in the firm I used to work for during the slow periods of audit season; however, no complex returns were handled. Also, I didn’t see many business returns or estate, gift, and trust returns. My experience only saw me through a few tax seasons. Beyond my minimal exposure to REG topics, as noted above, I have 5 years of general accounting and financial statement preparation experience. With the exception of the IFRS introduction in 2011, I believe my 5 years of experience mostly includes FAR-related topics, which made the difference for me in preparing for FAR. I think both FAR and REG require substantially more dedication and time than BEC and AUD to master. I will be taking the REG exam soon and I cannot wait. I am excited. I cannot wait to walk out of the Prometric testing center’s doors for the last time.

 

Time for Review – REG

December 20, 2012, by No comments yet

Written By Guest Blogger John E.

Since my last post, I have managed to stay on a loose schedule and complete the remaining six study units. Now it is time to move on to the final review. I like to have two solid weeks to complete a comprehensive review of all the study units. However, this time I have just about 10 days to go until Halloween. That’s right, I will be taking my exam on Halloween. Real spooky!  (Sorry, this post is a bit late and Halloween has already happened!)   I credit my shortage of time to the extended family visits, one trip to Disney, the change in season (seriously), and the lack of determination that I had in the last three exams. I’m just getting exhausted I guess. I feel so close to completion, but I know I’m not. I know it takes passing all four sections to become a CPA. I have found myself daydreaming and looking past REG somewhat. I know this is dangerous, but I cannot help to think about the time when I can just come home and not worry about making time for studying. It’s good that I am acknowledging my change in study behavior and not just ignoring it. Ten days is still adequate to pull off a successful final review.

After REG, I will focus on completing some home projects. The funny thing is I have a collection of projects that are works in process. For some people, that kind of work may seem like pulling teeth. However, I prefer such tasks over the becoming a CPA process. After every section of the exam, I start a new project, but somehow never finish it by the time scores are released. I’m always quick to start my review of the next section of the exam before I complete what I was working on. My philosophy is to go with the momentum. When you’re hot, you’re hot. For all of you CPA candidates going through the same struggle: sacrifice is temporary. This will be over soon. You will reflect and appreciate.

 

REG Study Tips For The CPA Exam

December 12, 2012, by 3 comments

 

 

Written By Guest Blogger Cameron W.

I’ve been studying for the REG section since August 13th, and boy has it been a challenge. At least three or four times a week, I go straight to Starbucks after work and study until it’s dark outside. Now I am in my final review and completing as many 40-question multiple-choice quizzes in Test Prep that I can up until my test on Thursday. I have been getting frustrated because a lot of the material looks very familiar, but I keep second guessing myself. My friend who is student teaching gave me the following tips that I thought may help others:

 

1. Slow down. If you read these types of questions too fast, you could miss an important detail that changes the whole meaning of the sentence.

 

2. Break each problem down into segments. Don’t read a three or four sentence problem as a whole, break it down into as many parts as you can so that you know what is being presented.

 

3. Answer the question before looking at the answer choices. After you have read the problem, try to come up with an answer without looking at the answer choices. Then, find the answer choice that most closely matches the answer you came up with. Doing this will show you that either you truly KNOW the material or that you still have more studying to do.

 

4. Have a positive attitude. This is self explanatory.

 

I hope I helped somebody out there. I haven’t been getting high scores on my quizzes in Study Mode, but today is a new day. Hopefully, my scores will start rising rapidly and my studying will pay off by the time I take the REG section. Thanks and God bless.

 

 

First Week with Gleim CPA Review

December 10, 2012, by No comments yet

 

Written By Guest Blogger Amia M.

Hello everyone. I hope your studying is going well. This was my first week studying with Gleim for Regulation. I must say it was an adjustment (which is a good thing). My old CPA review software required that I listen to a four-hour lecture video and highlight this and underline that. So, it was not for me. What I love most about the Gleim way is the logical approach that is laid out. You start off with a multiple-choice quiz to gauge where you are, which is then followed by a review of the questions you missed (with thorough explanations). I decided to not only read the explanations for those questions that I missed, but also to write the explanations down so I could better understand the concepts.

The audio review is great because you have the choice of either watching a presentation or downloading and listening to the audio. The audio review is very convenient because you can take it with you. I listen to the audio review on repeat at work. I take my lunch to work where I can connect to the Internet and access my Gleim online classroom. I am able to complete the true/false quiz on my lunch break. After work, I read the knowledge transfer outline and complete another multiple-choice quiz, simulations, and more multiple-choice questions. For me it helps if I keep the CPA exam in the forefront of my mind. Having handy study materials available when I need them is paramount and will help me to pass the CPA exam. Time is the one thing in this life that none of us can get back. Therefore, we must utilize each precious minute. Each study unit that I complete gets me one step closer to passing Regulation and completing the CPA Exam. Until next time, keep pressing forward.

Mia

 

John E. Battling with REG Tax Computations

November 13, 2012, by No comments yet

 

Written By Guest Blogger John E.

I am three weeks into my review of the REG section, and I see why candidates say this is second to FAR in required effort. The content itself is not difficult to comprehend, but there are many topics that one should be knowledgeable of before going into the exam. I don’t know if there will be an “easy” study unit in REG for me. If there was one, maybe I passed it and just didn’t realize it. This past week I began working on the study units on taxation, and there just seems to be so much volume. The IRC system is just loaded. On average, I am taking practice tests in the Gleim Test Prep five times for each study unit before scoring well and moving to the next study unit. I take as many practice tests as possible until I score a 75% or better.

I will credit most of my success in passing the three CPA examination sections with completing as many multiple-choice questions as possible. I have also found that it is important to review every question afterward, whether you answered correctly or incorrectly, so that you can reinforce your understanding behind your decision. Personally, I have found that reading the book cover to cover doesn’t help as much as doing numerous practice questions. I retain about ten percent of whatever I read, so I figure that my time would be best allocated doing and re-doing questions using Gleim’s Test Prep. Repetition beats reading for me. I really have to say that I cannot wait until I get past the last seven study units, so I can revisit some of the tougher areas during my final review. I only have a few weeks to go; I am so glad my journey is almost over.

 

Looking Back At My CPA Exam – It’s All About The Timing

October 25, 2012, by No comments yet

Written By Guest Blogger Christine L.

Taking all four parts of the CPA exam in four months is not how most people choose to do it, but for me, it was logical that I try. I didn’t have a job; scheduling conflicts forced me to push graduation out a semester, and graduating in the summer didn’t sound that exciting. So I tried it. I did it, and it was hard. It would have been hard no matter how I did it, but I it could have been easier had I known some things I know now.

I already had some things to say about academics, but really, the academics were not harder than my classes. It’s the volume of these things that makes them hard. It took me more hours than I thought it would. Some study units took more than six hours, some took less, but on day one, I didn’t know how it would add up. There are people who will tell you that you can do it in half of the hours I spent. Of course first-time pass rates for these exams are not real high, and you might wonder if there is some relationship between these two facts. I wanted to pass more than I wanted to spend my time elsewhere. That sort of contradicts the part where I wanted to pass all four parts in four months, and this was an issue. I was always chasing after myself—if I take a break now, will I be able to make it up tomorrow? Studying for hours was never a problem. The problem is that I had to keep each day’s hours reasonable if I wanted to keep going for four months, but I miscalculated because my experience with the first exam led me to underestimate how many hours I’d spend on the last exam.

I didn’t spend enough time on REG. What I would do now is to take all the Gleim sample tests for every part first, and stat with the one with the lowest score and work down. You’d have to vary this though, depending on when the blackout month(s) fall into your planned schedule.

The real lesson I took away from this is that passing the CPA exams has as much to do with your life, your job, your school schedule, and your finances as it does with all that intellectual stuff. If you’ve taken 150 hours of accounting courses and done well, you’ve proven that you can handle the material. What’s left is about discipline and concentration and an awful lot of just keeping at it. Plan it out, think it through, know yourself, and let the test prep take care of itself.

 

Tackling REG – Week 1 of Studying

October 17, 2012, by No comments yet

 

Written By Guest Blogger John E.

I am here looking at my final section of the CPA exam. I cannot believe that I am almost through with this enduring process. So far I have managed to pass FAR, AUD, and BEC. Now my eye is on the prize with REG. After one week into REG, I can already tell it won’t be easy. Of course I never thought it would be. Prior to jumping into REG, I had heard that this part is arguably second to the level of difficulty that FAR brings. Right now my average weighted score using the Gleim Test prep is looking fairly weak. In fact my scores are the lowest in comparison to the other three sections. I am having some trouble with the subjects on business law. I took two business law courses during my undergraduate and master’s program, but I don’t remember the content being so intense. I actually remember doing well in my business law courses. I should know by now that anything on the CPA exams is just fair game for additional complexity. At this point, I guess I am way too early in the review process to worry. A little concern is healthy, but I am not to the point of stressing myself out. I mean I am not even halfway through the review process. Everything seems to pull together during final review in the last two weeks before the exam. This is how it has always been.

So what materials and strategy am I using to Review? I am using my 2012 Gleim book and Test Prep Software. I take multiple practice tests for each study unit and perform thorough reviews on questions whether right or wrong. I will take as many tests as necessary until I receive a passing score of 75% or better. Once I pass a study unit I will move to the next study unit. I will repeat this process until I complete all twenty study units. Finally, I will proceed to a final review of REG in the last two weeks before the exam. I will review multiple study units (typically 5 study units at a time) within a practice test of twenty questions, and I will aim for a 75% or better. I will repeat this process through all of the study units. I choose twenty questions because it is an optimal number for me. On weak areas I will make sure to take notes and improve these areas. On the night before the exam I will perform only a light review of weakest areas. Getting plenty of rest the night before is imperative.

 

 

Study Materials Are Here! Time To Schedule With Prometric.

October 11, 2012, by No comments yet

 

Written By Guest Blogger Erica T.

I got my study materials in the mail yesterday, which was a lot sooner than I was expecting. I can’t describe exactly how I felt when I received them. I was excited because I have worked so hard to get to this point, but I was also nervous. I’m nervous of failure and becoming discouraged. I’m anxious to take the first part of the exam and see how it goes. I’m feeling overwhelmed with all the material that there is to study. I’m a big basket of emotions, but overall, I’m excited and dedicated to the studying process.

 

I have already been impressed by the exceptional customer service that I’ve received from Gleim. They have been so helpful and so quick to answer any questions. I do love a company that stands behind their promise and I look forward to continuing this journey with such a solid and credible company.

 

Shortly after receiving the study materials, I was so eager to start. That eagerness quickly turned into an overwhelming fear of not being able to retain all of this information in time for my exam. I’m scheduled to take REG in November. I have laid out a schedule of dates that I will use as a guideline to study diligently and effectively. I’ve called Prometric to schedule a few times but got nervous and hung up the phone. Now that I have an official test date in my future, everything seems a lot more real to me. I want to go into this exam with the confidence that I’m going to do well. I think this program is going to be beneficial to me in that sense.

 

I will keep you updated on my studying process and how effective it is. I hope that this blog will be beneficial to anyone studying for the exam or thinking of taking the CPA exam! We are all in this together.