CPA is a coveted title within the accounting career, nevertheless it’s additionally notoriously arduous to earn. The Uniform CPA Examination consists of 4 components that assess your data in monetary accounting and reporting, auditing and attestation, enterprise environments and ideas, and regulation — and you must move all 4 in an 18-month interval. Right here’s how I went about learning for and in the end passing the CPA examination.
What you have to know earlier than taking the examination
Necessities fluctuate by state, so earlier than you get began along with your research, it’s important to know precisely what you have to each sit for the CPA examination and to earn licensure. I selected to get licensed in Michigan, which requires candidates to have at the very least a bachelor’s diploma to take a seat for the examination, plus 2,000 hours of accounting expertise for licensure. To achieve these targets, I first earned my undergraduate diploma in accounting and finance, in addition to an MBA, from Loyola College in Chicago.
I lined a few of my hours of expertise throughout an internship at Plante Moran and accomplished the remaining at my job after graduating. (The hours might be from internships or can accrue as soon as you start working, so long as they’re beneath the supervision of a licensed CPA.) When it got here to the CPA examination, I made the choice to sort out it whereas I used to be at school.
A customized, focused research plan
One of many greatest selections aspiring CPAs must make is figuring out one of the best time to start out learning for the examination. Keep in mind that the American Institute of CPAs recommends 400 hours of learning to move all 4 components, and you must restart the method should you fail. For me, one of the best research plan included day-to-day research for a number of hours. It was important for me to take breaks and permit my mind to relaxation. Forcing your self to review for hours just isn’t typically one of the best learning method. Attempt to research one idea at a time to make sure you know the knowledge, take a break, then quiz your self to see how a lot you may bear in mind after the break.
I’m a pen and paper individual, so I had notebooks the place I might write down notes from the net movies I watched. As I labored via the matters I wanted to grasp, I spotted the proper time to take the take a look at would by no means come. I registered to take the primary half in two months and continued learning with the due date in thoughts. Working towards a transparent purpose stored me motivated, and a few key instruments helped me be taught the fabric that I would want for the examination and my job.
Beginning with CPA examination blueprints
The AICPA publishes CPA Examination Blueprints a couple of times a 12 months. This data helps you establish not solely matters that will likely be on the examination, however how the matters will likely be examined on the examination. It additionally consists of rating weighting, reference supplies and examples of duties. You need to use this data to prepare your research timetable by figuring out what you recognize and don’t know. (It helps to focus your learning time closely on the knowledge you don’t know.) Attempt protecting a listing of matters that you just’re unfamiliar with, in addition to quick explanations of these matters.
Discovering the correct assessment course
I spotted early in my research that I wanted to take apply exams to move my exams. I used UWorld Roger CPA Evaluate Programs to entry questions very very similar to these on actual exams. (It helped my determination that Plante Moran lined the price of the programs.) The programs supplied the right reply to every query, but additionally explanations of why that reply was appropriate in addition to why the opposite selections had been incorrect. After lacking a query and reviewing the reasons, I used to be assured that I might get an analogous query appropriate the subsequent time.
I additionally studied the net video classes and took notes in between apply exams. After I handed the primary a part of the examination, I spotted that I had truly overstudied, and I readjusted for the remaining three components to realize a greater stability between my college work and learning for the examination. By specializing in my weaker areas and refreshing my areas of energy based mostly on my efficiency, I used to be capable of enhance my take a look at outcomes. I additionally continued to make use of apply exams and questions throughout this time.
As soon as I gauged my preparedness in a particular subject, I may select to review or take extra apply inquiries to strengthen my weak areas — and keep away from overstudying.
Sustaining focus
One other problem on the highway to turning into a CPA is avoiding distractions and staying on monitor. For me, staying on monitor meant juggling examination preparation and planning a pandemic wedding ceremony. I additionally needed to regulate when my testing dates had been postponed twice. It was arduous, however I labored to plan out not simply my research schedule, however my each day schedule to make sure that I had time to finish my college work and my learning. Having different duties accomplished helped me to concentrate on learning for my examination.
All through the method, I let my household and pals know my targets and the way incomes a CPA would enhance my profession path. Feeling accountable to others helped me preserve my focus and follow my learning plan, they usually supported me.
After I handed my examination, I landed a job within the assurance division at Plante Moran. As a result of I fast-tracked the preparation course of, I can now concentrate on my rewarding profession as a CPA.