CPA Exam

mwints

Diabloii.Net Member
CPA Exam

Hello OT forumites!

I usually hang around the SPF but thought this the more appropriate forum to post this.

I'm wondering if anyone here has sat for the CPA (Certified Public Accountant) exam. If anyone here has, how much time did you spend studying, how did you find the difficulty level of the test, etc.

I'll be starting a Master's in Accounting program soon with the intention of sitting for the exam when it is complete and am just looking for any advice or other peoples' experiences.
 

Stompwampa

Diabloii.Net Member
My advice: switch careers. Accounting will be the death of you. It was for me. Get out while you can!!
 

superdave

Diabloii.Net Member
i didn't know the cpa was a single exam...in canada the cma and cga were a series of exams that i studied for weeks(for each exam) before writing.
 

Stompwampa

Diabloii.Net Member
What do you see in accounting anyways? I got a C in my college accounting class, and I hated every second of it. I couldn't understand a damn thing. And the funny thing is that I like math...
 

superdave

Diabloii.Net Member
don't forget to take your pocket protector and mcgraw-hill's interest amortization tables in paperback with you when you hit the bars to score a supermodel.
 

Stompwampa

Diabloii.Net Member
are the taped up glasses still the "in thing" to do? Or will those get me beat up by the science geeks?
 

jimmyboy

Diabloii.Net Member
mwints said:
Hello OT forumites!

I usually hang around the SPF but thought this the more appropriate forum to post this.

I'm wondering if anyone here has sat for the CPA (Certified Public Accountant) exam. If anyone here has, how much time did you spend studying, how did you find the difficulty level of the test, etc.

I'll be starting a Master's in Accounting program soon with the intention of sitting for the exam when it is complete and am just looking for any advice or other peoples' experiences.

I sat for the regulations. Flunked it.

Got killed in corporate taxation, property transactions and agency. I got aced all of my college taxation courses. Figure I didn't have to review that closely. Big mistake.

The time contraint is a real ***** when you're trying to apply formulas and recall rules. The most unusual thing was taking it on the computers. It was terribly difficult to read and apply any process of elmination techniques.

I spent about 4 hours per day for about 2 months. Sounds like alot, but it isn't. That's alot of material to cover in 8 weeks.

You may want to sit for it prior to finishing your program. Especially auditing. I wish I did because I'm only 12 months removed from that class and I can't recall anything.

What are you using? Wiley? Bisk? Gleim? Becker?
 

jimmyboy

Diabloii.Net Member
Stompwampa said:
What do you see in accounting anyways? I got a C in my college accounting class, and I hated every second of it. I couldn't understand a damn thing. And the funny thing is that I like math...

I think that had you taken some business courses first or owned a small business, it would have made sense to you.

I was lost in never-never land the first time I took it. Finished college, owned several small businesses, went back and it all clicked like a charm.

It was night and day.
 

Stompwampa

Diabloii.Net Member
But see, that's the thing, I DO own my own small business. Granted, it's small enough that I don't really even use all the accounting principles I "learned." It's more just side income for fun. So I don't put too much thought into it, I just claim extra earnings on my taxes at the end of the year and it works out.

I was totally lost when my accounting prof said, after week 2 of class, "OK, you've now just covered everthing you did in high school accounting class."
When he said that I was about read to drop the class, cuz I was already lost. I'm lucky I passed the final exam.
 

Star Dust

Diabloii.Net Member
I never understood why almost everyone thinks accounting is synonymous with math.

Midway through my college education I was planning on sitting for the CPA exam. Eventually I realized I didn't need it and scratched it off my list of things to do. So I don't have anything to say about it other than that it was daunting.
 

jimmyboy

Diabloii.Net Member
Stompwampa said:
But see, that's the thing, I DO own my own small business. Granted, it's small enough that I don't really even use all the accounting principles I "learned." It's more just side income for fun. So I don't put too much thought into it, I just claim extra earnings on my taxes at the end of the year and it works out.

I was totally lost when my accounting prof said, after week 2 of class, "OK, you've now just covered everthing you did in high school accounting class."
When he said that I was about read to drop the class, cuz I was already lost. I'm lucky I passed the final exam.

I was pushing about $10 - 15,000 of inventory per month and regularly dealing with credits, and banks. So my books had to be spotless. I got "C" grades in accounting. But boy does it come back when your money is on the line.

I think you just got stuck with a real bad professor. I can't recall I know of anyone who's ever taken accounting in high school.




BTW, hate to tell all the CPA wanabes this. But accounting is only about 1/8 of the CPA exam. So if you've forgot to take those business and law classes, you are screwed.
 

Merick

Diabloii.Net Member
superdave said:
i didn't know the cpa was a single exam...in canada the cma and cga were a series of exams that i studied for weeks(for each exam) before writing.
Are you an accountant, Dave?
 
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