Posts tagged: Pass the CPA Exam

BEC Studying Update

May 7, 2013, by No comments yet

 

Written By Jennifer K. for the Gleim CPA Blog.

I began using the Gleim CPA Review System on March 15th. So far, I am almost halfway through the Business Environment Concepts (BEC) section. As I mentioned previously, I took and passed BEC back in 2009. When I first took this section, I concentrated primarily on the multiple-choice questions and spent almost no time on worrying or practicing for the written simulations. This time around, the biggest problem I have had studying has been the written simulations. I do believe I am putting too much emphasis on them. I also need to pass two more parts of the exam by July 31, and I find myself wanting to complete each task perfectly.

My husband is finally home after being out of town for a couple weeks. Getting him home has been a real test. His flight was delayed several times, which resulted in a one-day setback . Hopefully, his return will grant me some additional time to study by relieving some of the additional home and child related responsibilities. However, I also received some bad news this week at work, which will most likely result in a significant increase in work hours for me.

Based on the difficulty I have had with the written simulations on the CPA exam, I have chosen to focus more on the multiple-choice and true/false questions. Despite my work concerns, I believe that the changes that have occurred over the last week will improve my productivity. So far, I feel that practicing the multiple-choice questions as much as possible has had the most impact on my performance. Also, since my study time has been spread out over a long period of time, I think it is important that I take practice test and reinforce the material I have already learned.

 

Study Scheduling – Work/Life Balance

January 4, 2013, by No comments yet

Written By Guest Blogger Jaime C.

Hello, fellow CPA exam candidates!

I recently read blog postings from other CPA candidates about the sacrifices they make to increase study time. Several candidates have plans to skip social dinners, not go to the movies with their families, and even miss weddings in order to study. I admire this dedication and discipline. I, however, have yet to master the discipline to make studying my main focus. While I work really well under pressure, I have found that “cramming” in the last weekend or two before the exam does not lead to a passing score.

I continue to work on finding a happy medium between studying and participating in social gatherings. With that said, I have not opened my AUD book in exactly one week. My intentions to tackle the simulation exams were pushed aside.

Now that I have my Notice to Schedule and plan to sit for the exam in roughly 6-7 weeks, I need to cover the remaining study units and knock out as many practice exams as possible by following the original plan from my Gleim Counselor. Since I have already covered several study units, I will now be able to focus on practice exams and simulations.

Here is my six-week schedule for one exam section:
Week 1: Complete Study Units 1-4
Week 2: Complete Study Units 5-8
Week 3: Complete Study Units 9-12
Week 4: Complete Study Units 13-16
Week 5: Complete Study Units 17-20
Week 6: Cumulative review of weak areas

I plan to add studying to my calendar just like any other appointment or get-together.

 

Deciding Which Section Of The CPA Exam To Study For Next

January 4, 2013, by No comments yet

 

Written By Guest Blogger Greg W.

After spending a lot of time thinking about the CPA exam and its different parts, I decided to switch from studying BEC to studying AUD because of my familiarity with the material. I had only made it through two study units of BEC when I started a new job and had a new grandbaby! Life is awesome, but it often throws you curve balls. I am excited to get into the routine of studying again.

This month at my job, I will be working with individual, corporate, and partnership tax returns, which will limit my study time until April. So, with the approval of my boss, I will schedule the AUD exam around the busy season. There are only a few negative aspects to my job, such as it takes an hour of travel each way and there is no time to study during my work day (I guess that is normal for most jobs though). I will make the most of all my time off though.

I plan to use an accelerated method for studying for the exam, which includes reading each study unit and taking the T/F exams for all 20 study units during the first week. Each week changes the way you study the material, with the final week concentrating on testing. This is not the recommended way of studying, but it will work great for my schedule.

 

Almost At The Halfway Point – CPA Exam Studying

January 4, 2013, by No comments yet

 

Written By Guest Blogger Gina M.

My study schedule for week two has not gone as planned. Somehow, I feel behind. Well, I have an idea as to how I fell behind. I have been sleeping in later, which means I haven’t been getting in my hour of study in the morning. Work has also been very hectic, which means I cannot concentrate enough to study during my lunch break. Then, because of the extra duties at work, I am exhausted when I get home and can think of nothing but sleep. This is on top of playtime and the nighttime ritual I have with the kid. By the time I actually sit down to study at night, I am literally falling asleep at the computer and can only get in a couple of multiple-choice questions before my brain gives out on me.

As of today, I was supposed to be finishing up Study Unit 9 of the Gleim CPA Review and starting Study Unit 10 on Friday. Over the weekend, I wanted to do a comprehensive review of Study Units 1-10. However, I have just finished up the second set of multiple-choice questions for Study Unit 6. This means that I am going to have to do a marathon study session this weekend to catch up.

I also plan to start using the Gleim Audio Lectures during my commute to work and while working. Right now, I listen to the radio at work. I can make better use of this time by listening to the Audio Lectures over and over again while I work. By listening to them every day, the lectures may begin to stick. This will be the perfect way to get some studying in every day, because every little bit helps.

 

Steady Pace for BEC

January 4, 2013, by No comments yet

 

Written By Guest Blogger Kathy R.

I am on week two of studying for the CPA exam, and I hope to pass the exam by the end of the month.

The number of formulas you must memorize for BEC is overwhelming. I am attempting to review the formulas on a daily basis. I am hoping that my method for learning the formulas will work and that I will be able to identify what formula to use when I read a question in the Test Prep software.

Next week I will be in the review stage, and I will be using the Test Prep software primarily until exam day. My strategy is to understand and answer as many questions as I can. For me, repetition is the best way to enforce my understanding of the material.

Next week will be a challenging study week due to the Thanksgiving holiday and me traveling to Michigan to see my family. I plan to study formulas in the airport and on my two-hour flight. I will not study on Thanksgiving day, but on Friday and Saturday, I will attempt to answer fifty to hundred questions in the Test Prep software. On Sunday afternoon I will be back in full study mode, and I will study as much as I can until exam day. I hope all my efforts pay off. I am overwhelmed with BEC, but I hope I can achieve a passing score. Stay tuned.

 

Moving My CPA Test Date Up

December 27, 2012, by No comments yet

Written By Guest Blogger Gina M.

Week one has gone as planned, with one exception: I moved my test date up. Some test dates opened up for the first week of December, so I changed my test date to December 7th. I did this for two reasons:

1. Short-term memory. I believe that part of studying for the CPA exam is your ability to access the information from your short-term memory. Changing my test date gives me less time to study, but I’ll be better able to recall information because it will still be fresh in my mind.

2. Three tests in three months. Taking FAR in December means that I will (possibly) be able to take BEC in January and then AUD or REG in February. I like the idea of not having a month off. It will give me the motivation I need to keep going and to stick to my study schedule for all the exams.

I plan to be finished with FAR Study Units 1 through 5 this week. I plan to complete five study units a week as instructed by my Gleim CPA Counselor. I will be done with the review by December 1st and will have one week to review. One of the things I like about the Gleim CPA Review is its emphasis on multiple-choice questions. In the book, after you read a subunit, you are immediately directed to the multiple-choice questions so that you can test your knowledge on the material. This technique means I am answering questions every time I study. Normally I would watch lectures, read the text, take notes and then answer questions. I really like the Gleim technique; I feel like I am learning to apply the material throughout my review process. I will continue with this review technique because it really seems to be working for me.

Until next time.

 

Q3 and Cumulative (Q1, Q2 & Q3) CPA Exam Pass Rates 2012

November 19, 2012, by No comments yet

CPA Exam Pass Rates

Here are the latest pass rates from the 2012 CPA Exam.  These include the last section of testing (Q3 – July and August).

  • The pass rate for BEC is increasing as the year progresses.
  • The AUD pass rate is increasing in 2012 as well.
  • FAR has a huge increase in pass rates over Q2 (although it has the lowest cumulative pass rates).
  • REG pass rates have increased slightly over Q2.

Here you can find CPA Exam pass rates for 2011 to compare.  Good luck in Q4 CPA Candidates!

Welcome New Guest Blogger Amia M.

November 9, 2012, by No comments yet

 

Written By Guest Blogger Amia M.

I graduated in 2008 with my undergraduate degree in Business Administration with a concentration in Accounting. I was a nontraditional student. I worked full-time and completed my classes in the evenings and on-line. I graduated this May with my Master’s of Accountancy while still working full-time. I always knew I wanted to get my CPA designation, I just didn’t know if I would ever be able to. This February I started researching my state requirements to sit for the exam and for licensure. I was thrilled when I was approved by my state board to sit for the exam, and I learned that I met the requirements to license as well. That is, once I pass all four sections of the exam! That should be the easy part right? At least that’s what I thought. I started studying for the Auditing portion of the exam in February, preparing to sit in April. Did I mention I was taking my last two Master’s classes and working full-time as a Accounting Analyst? I prepared the best I could and, unfortunately, I came up short. I made a 63 with another review system. I was disappointed but not distraught. I decided to continue to press forward.

 

So after I graduated on May 14th, I started studying for BEC with a test date of July 9th. I was able to focus more because CPA Exam preparation was at the forefront of my mind and not which assignment did I forget to turn in to my professors. The hard work paid off because I passed BEC with an 80. I took FAR at the end of August and I made a 67. So here I am today. Passing 1 out of 3 is not what I wanted, but I will definitely take it. I am preparing for a rematch with FAR and planning to tackle REG in November. My goal at the beginning of 2012 was to have all four sections passed by the end of the year. After going on this journey all year long, I will not beat myself up if I only pass 3 out of 4 exams. I have learned so much on this journey so far. Two of the most important things to know are that you are not alone and that these exams are passable. Even with my two fails, I realized that I could pass and that I will pass. We will pass. Proper preparation and a great review program are essential to passing and succeeding. Until next time. Happy studying!


The Clarity Standards Impact Content Tested on the Auditing and Attestation Section (AUD) of the CPA Exam in 2013

November 6, 2012, by No comments yet

 

Quote startThe Gleim CPA Review System Includes
18-months Of Product Updates So You Have
The Most Up-to-Date Materials!Quote end

The Auditing and Attestation section of the CPA exam will undergo major changes in the content tested beginning in the third quarter of 2013. The Auditing Standards Board’s (ASB) clarified auditing standards are effective for periods beginning after December 15, 2012. Thus, the clarified standards are eligible to be tested on the 2013 CPA Exam beginning in July, which is the third window of 2013 testing.

According to Dr. Bill Hillison, Professor Emeritus of Accounting at Florida State University and co-author of Gleim CPA Review Auditing materials, “The AICPA’s Auditing Standards Board redrafted its standards into a new Codification of Statements on Auditing Standards to make U.S. Generally Accepted Auditing Standards (GAAS) easier to read, understand, and apply. A goal of the ASB was to converge the standards with the International Standards of Auditing (ISA) and to eliminate the duplication that existed in the current standards.”

The scope of these changes is leaving CPA candidates wondering where to begin in understanding the differences between the old and new standards. Reed Daines, a recent graduate from the Fisher School of Accounting at the University of Florida who is currently studying for the CPA exam, states, “I’m taking the Auditing section of the CPA Exam next Fall. I’m concerned because I just studied all of the SASs in my Auditing class last Spring. I need to know if I have to go back and study them all over again.”

“It’s not as bad as it looks,” says Dr. Hillison. “While there are some areas that dramatically changed, many of the standards remain basically the same conceptually.”

Dr. Hillison continues, “The biggest change is to the auditor’s report. The new report will have headings for each section and will be more explicit in defining the responsibilities for the financial statements and for the audit. Additionally, the term ‘unqualified opinion’ will be replaced with the term ‘unmodified opinion.’ In another change, a new standard on ‘group audits and component auditors’ replaces the existing standard on the use of ‘other auditors.’ The term ‘explanatory paragraph,’ which is currently used to draw attention to special items, is replaced with either an ‘emphasis-of-matter’ or ‘other-matter’ paragraph. No longer will the standards refer to ‘special reports.’ These are subsumed into various other standards on reporting responsibilities.”

Dr. Gleim, CEO of Gleim Publications, Inc and expert on CPA test preparation, suggests that candidates plan to take the Auditing and Attestation section by the end of the January/February window in 2013 to avoid having to study the new codification for the exam (This provides a buffer of the next window if the candidate needs to retake the part). “Of course,” he concedes, “not everyone will be able to plan their schedule in this manner.” To address the concerns of those candidates who must take the exam in the third testing window or later, Dr. Gleim and Dr. Hillison have created a special edition of the CPA Review Auditing materials to be released in the spring of 2013.

The Gleim CPA Review System includes 18-months of product replacement and updates so you always have the most current materials. Candidates should continue to take their exams without worrying about materials changing. Gleim will provide the new AUD edition as soon as it’s available to candidates who have purchased a complete Review System or Review System part (BEC, AUD, FAR, or REG).

If you would like to read more about the changes in the content of the standards, visit thegleimblog’s Academic Corner and read the post titled “Clarity Standards” by guest blogger Dom Savini. CPA candidates should contact the experts at Gleim Publications for more information or advice on how to study for and pass the exam before the new standards are testable.

You can try a complimentary demo of the Gleim CPA Review System here. All you have to do to begin is create an account.

Team Gleim
sales(at)gleim(dot)com
800.874.5346

 

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.