CPA Exam Anyone?

[JayKid]

Just curious... I know I've seen some others say they did accounting. I am studying like crazy right now for the longest (hardest) section, FAR. It sucks. It's 4 accounting classes crammed into one. I'm going crazy.

For those that might have taken it... how was it?

And for those who are doing accounting and wanna get the CPA. Good luck. It definitely takes effort. And I don't even wanna think about how I have another 3 sections to go after this one.

[olazabal]

can you go over some of the stuff that's you're studying

[The_Assassin]

remember your debits and credits brah

[daveh6092]

i have to study for it soon woot. how fun. I am going to just find an online program that breaks it all down easily for you.

[jcilla26]

I'm studying for it right now, too. I'm taking BEC first because they are switching the format in 2011 where BEC includes 3 sections of writing! I absolutely HATE BEC, though. It's just a ton of topics I hated in school. (Economics, IT, Cost accounting, etc.)

[BL-09]

dividends are not an expense.

[Jelet]

dividends are not an expense.

isnt a dividend a drawing a withdrawl, owners equirty, its been a year since i took accounting 101


m i rite(just curious)

[JayKid]

I'm studying for it right now, too. I'm taking BEC first because they are switching the format in 2011 where BEC includes 3 sections of writing! I absolutely HATE BEC, though. It's just a ton of topics I hated in school. (Economics, IT, Cost accounting, etc.)

How long (hours) do you think it takes to study for it?

My plan:

FAR - Week from now (still gotta reschedule cuz pushed it back)
REG - Oct 1st. I start work September, so gonna get a bunch done before then and then review to be prepared for it by Oct 1st.
BEC - Study while working throughout Oct and Nov, take it at the end of Nov or right before Thanksgiving or something.

I'm crossing my fingers I can have enough time to do BEC in that small window. Because, if not, the exam will be changed and it'll suck.

I'm leaving Audit for last because people say it's easy. And that's what my job will be so hopefully it won't be bad to finish it off throughout the next year.

And for person asking about stuff I'm going over:

Everything from accounting 101, intermediate accounting I + II, and advanced accounting. so accounting basics (accrual), to specifics about long term contracts, partnerships (formation, liquidation, etc), cost/equity/consolidations, foreign currency transactions/translations, working capital and all those financial ration, inventory methods and fixed asset depreciation, leases, bonds, deferred taxes, pensions, cash flows, earnings per share, government, and not-for-profit accounting.

That's basically everything, lol. For most part anyways. It sucks.

I'm scared for reg, but giving myself like 1.5 months... so we'll see.

If I can get 3 done before year end I will be so happy. Then last one before my first year of work is through and I'll get a 5,000 bonus too. And never have to study for this BS again.

[JayKid]

And to person who said something about dividends being withdrawal from owner's equity, yes... they are taken from retained earnings.

[kalmamd]

Got FAR 2 weeks from today. My eyes hurt. FAR is my last one. You making a smart move knocking this one out first.

[JayKid]

Got FAR 2 weeks from today. My eyes hurt.

I'm probably taking it in 1.5 weeks. Probably August 3rd.

You doing Becker Review? I'm going back through everything now. I'm on Ch. 4 now. Shooting for Ch. 4 - 6 this weekend. Though probably take Monday to go back through again. Then 7 - 9 by Thursday, or even Friday. Then have the weekend for some crazy final reviewing until Test on Mon or Tues.

Sucks hard.

You ever hear about how difficult questions are on the exam? Or any advice from people? I am hoping going through Becker questions will be good practice. We'll see.

[kalmamd]

I'm probably taking it in 1.5 weeks. Probably August 3rd.

You doing Becker Review? I'm going back through everything now. I'm on Ch. 4 now. Shooting for Ch. 4 - 6 this weekend. Though probably take Monday to go back through again. Then 7 - 9 by Thursday, or even Friday. Then have the weekend for some crazy final reviewing until Test on Mon or Tues.

Sucks hard.

You ever hear about how difficult questions are on the exam? Or any advice from people? I am hoping going through Becker questions will be good practice. We'll see.

Yeah I got Becker. I went through all the Q's one time and then went over the really difficult sections (2,5,6,7) a second time. Now that I'm 2 weeks out, I'll go back over all the sections to really nail the stuff down.

The actual exam is much easier than the questions in Becker. I think Becker purposely makes you practice the really hard questions in order for you to be/feel more prepared for the real thing. So if you having trouble with the becker questions, don't freak out. I've heard FAR is about 70% calculations the rest are just theory related.

I wouldn't really bother spending too much time on the practice sims as the real sims are usually completely different. However you may want to since your taking your first section to make sure you familiar with the functionality.

[JayKid]

The practice sims are pretty good questions though. for example, the consolidation sims were great. If you can get through that, you can get through other consolidation questions I'd think.

And chapter 2 had a really tough sim were you need to know what was done wrong, how to do it right, then adjust. Although, I'll be semi-screwed if that's put on there cuz it takes forever and is hard. I doubt it'll be on exam. Helpful though.

The second time through nailing it down is really good. I'm feeling pretty confident about chapters 1 through 3. The part I did the worst on second time through was timing section. A lot of things there get me tripped up. Plus, it's like 75 questions or something... painful to go through, lol.

But I'm hoping the next chapters aren't too bad. Chapter 4 isn't.

But chapter 5 and 6 are a pain. Leases and pensions and the other stuff.

and 8 + 9, even though I finished them fairly recently, the fund accounting is already slipping from memory.

That's the thing... it's so much, that even a "cram" isn't much of one, lol. It's like by the time I get through to chapter 9, it'll have been a week since chapter 1 again!

It's not that the material is hard, but so damn much.

GL with your test, man.

[ThatGuy950]

I'm gonna be going for it soon as well, can't wait to get through it, opens lots of doors if you can pass it fa sho.

[OCguy999]

I'm taking FAR on August 15th.....I used Roger CPA review....very good and cheaper than Becker.

Good luck brahs...if you can get through FAR, the others are much easier in comparison...FAR is the toughest, followed by REG, BEC, and then Audit is pretty easy

[JayKid]

I'm taking FAR on August 15th.....I used Roger CPA review....very good and cheaper than Becker.

Good luck brahs...if you can get through FAR, the others are much easier in comparison...FAR is the toughest, followed by REG, BEC, and then Audit is pretty easy

I think Becker is prolly most expensive, but my employer paid for it... so why not?

It's a good course. It helps a lot that I did well in college and remember, not well, but recall nearly everything. So nothing is completely new (well some stuff) and I pick it all up quickly.

It's a beast of a test. It really is. But I am gonna go in super prepared. And I'm usually a good test taker too, so if others can pass it, I'm pretty confident I can. Another week or so to go though. Fun times.

[OCguy999]

I think Becker is prolly most expensive, but my employer paid for it... so why not?

It's a good course. It helps a lot that I did well in college and remember, not well, but recall nearly everything. So nothing is completely new (well some stuff) and I pick it all up quickly.

It's a beast of a test. It really is. But I am gonna go in super prepared. And I'm usually a good test taker too, so if others can pass it, I'm pretty confident I can. Another week or so to go though. Fun times.

Good luck bro....it'll all be worth it in the end....great profession that's almost recession proof

[frank112]

FAR was the hardest. Oddly enough though, of the 4 parts, FAR was the only one I passed at the time. Passed the rest the second time around. All I spent was $400 on the Wiley books which were incredible (2005). The AUD one was so good that the sample questions seemed to match the exam questions verbatim.

And yes while you are supposed to pay Dividends from Retained Earnings only, you'll see smaller companies (usually subsidiaries) violate this rule several times and pay more than RE if they have the cash at hand. Just thought i'd throw out some real world vs. theory.

[hornyleprechaun]

Took REG 2 weeks ago... MC wasn't bad, but when I got to the simulations my brain was tired.. I think I got the fill in the blank parts on the sims, but the memos probably got me.

I'm going to start BEC this week as I had foot surgery yesterday so plenty of time at home from work. I am also doing the Becker review and it does seem to have way harder questions that the test.

Some of the questions really weren't hard on the actual test FYI

[otttis]

Check out another71.com its a great forum that can answer all your questions about the test.

[OCguy999]

Check out another71.com its a great forum that can answer all your questions about the test.

another71.com is a good site...thanks bro

FAR is kicking my ass right now but I'm taking it on August 15th no matter what. I think the passing rate is about 40% for each section

[kalmamd]

bump, FAR in 4 days. Entering paranoia mode.

[hornyleprechaun]

I'm starting BEC today.. should get all of it locked up this week and plan to take it in 2-3 weeks.

[OCguy999]

bump, FAR in 4 days. Entering paranoia mode.

Good luck bro! Any sections in particular kicking your ass?

Pensions and Leases fuuuuuuuuuuuuuuuuuuuuuuuuuuuu

I'm taking it August 19th...

[ses1357]

anyone feel like if you use becker and put in the necessary time then you'll pretty much be golden to pass?

[tts0lid]

i'm still finishing up the master's and will take it after... they say it's like a lake that's a mile wide and an inch deep...

far doesn't really worry me... it's reg... i hate tax

[kalmamd]

anyone feel like if you use becker and put in the necessary time then you'll pretty much be golden to pass?

Generally, yes.

Do well on the MC and written communications and you should be good. On REG I was just guessing on some of the tabs in the sims b/c i was running out of time and still ended up with an 82.

[kalmamd]

Good luck bro! Any sections in particular kicking your ass?

Pensions and Leases fuuuuuuuuuuuuuuuuuuuuuuuuuuuu

I'm taking it August 19th...

Yea leases and bonds. I know how to do them but when they throw in a bunch of crazy dates I get confused. Like stuff happening in middle the year.

[OCguy999]

Yea leases and bonds. I know how to do them but when they throw in a bunch of crazy dates I get confused. Like stuff happening in middle the year.

Yea that can get tricky...Bonds issued between interest payment dates...

[OCguy999]

anyone feel like if you use becker and put in the necessary time then you'll pretty much be golden to pass?

Becker is really expensive (unless you work for a firm that will pay for it). I've used Roger CPA Review and the Wiley books