Archives for CPA Exam

Top 5 Perks to Being on Campus Early

Posted by  on Wednesday, January 23rd 2013     

Two years in a row, I’ve found myself on a deserted campus a few weeks before the semester starts. Last year, it was for pre-internship classes that started on January 2. This year, once I got nice and smug about the idea that as a 5th-year, I was off the hook for starting classes early, I found out that to catch the first class for the on-campus CPA exam review, I had to be here on January 2…again.

After my initial grumblings about cutting my stay at home a little short, I made it back to campus and realized that being here before school starts is actually not that bad, as long as you know where to look for the silver linings. Funny thing is, since school started back up I have noticed these perks are applicable to early mornings too.

Top 5 Perks to Being on Campus Early
5. Fewer Distractions – It’s always a bummer to be back in Austin when nobody else is here, but the flip side is that there are significantly fewer distractions. Hopefully that serves me well this year and lets me get a head start on this CPA exam prep!

4. Solidarity – Since lots of MPAs are here and pretty much nobody else is, it’s a great chance to get to know other people in the program when you all have more free time. Whether it’s working on a group project or grabbing something to eat, you can revel in the solidarity that comes from getting an early start to the semester.

3. Peace and Quiet – Okay, so admittedly, I typically enjoy walking around and seeing a million things going around on campus, but a calm, quiet walk through campus is pretty nice once in a while, especially when I’m not quite ready for the chaos that this semester is sure to bring.

2. Open study spots – Whether you like to study at the business school, the library, or at a coffee shop, everywhere is less crowded before the flood of students hits the campus. It makes those golden study spots (like an empty table at my favorite coffee shop) a breeze to find.

And probably the single greatest thing about being on campus early…

1. Parking – No matter what time I need to drive to campus, I can always find a pay-to-park spot or permit parking pretty close to where I need to be (a welcome relief, since the buses aren’t running yet). Just be careful that it doesn’t make you even more frustrated when you can’t find parking spots in a few weeks.

So if you find yourself forced into coming to campus early, make the most of it! Scope out some good study spots, take a quiet walk through campus, and use the chance to be productive!

category: Academics, CPA Exam, Sarah, Study Abroad

Preparing to Prepare for the CPA Exam

Posted by  on Friday, December 14th 2012     

From my very first semester in the MPA program, the importance of preparing for the CPA Exam has been drilled into my mind. As a 5th-year student in the integrated program, I plan to take the exam in the spring. What I never realized, though, was how much preparation is involved before I can even begin studying.

The first step I took this semester was to submit my Application of Intent to the TSBPA. I knew about all of the eligibility requirements to take the exam, but the list of documents I had to submit was longer than I expected:

  • The application itself
  • A $50 application fee
  • Transcripts from every college I’ve ever attended
  • Notarized copies of my driver’s license and social security card
  • Various other notarized forms

Now that my application is submitted (albeit with several deficiencies to clear before I can sit for the exam), I’m starting to look at CPA Exam review courses. The firm I’m going to work for provides a few options for review courses they will pay for, so I started reviewing comparisons of the course materials, lecture styles, pass rates, etc., but nobody seems to agree on which course is best.

Last week, I attended an information session with the academic advisors, which helped to clarify exam requirements, testing periods, fees, and all the other things I need to juggle before sitting for the exam. There were also representatives there to tell us about the CPA review course that will be offered on campus next spring. After going through about 12 handouts full of information, I’m feeling a lot better about managing all the things I need to do.

The next step (after I get my bachelors degree in December and clear my application deficiencies) will be to schedule my exams and actually start studying! It’s exciting, but also pretty intimidating. My review course materials are on their way, so here’s to a spring semester jam-packed with caffeine and exam prep!

category: Academics, CPA Exam, Sarah, Student Life

CPA Exam Update + More

Posted by  on Wednesday, April 25th 2012     

As the semester is quickly coming to a close, I thought I would give another CPA exam update and describe the end of the semester.

So I took my first section of the CPA exam, and I won’t sugar coat it – it went pretty badly.  It was my first section and it definitely helped me learn what I did well and what I didn’t do well.  I definitely need to change my study method for the next one.  Doing more practice questions is key, as I concentrated more on learning the material than practicing questions.  I also need to realize that the tests are pretty hard and requires probably more studying than I put into it.  For the next section, I plan on doing more practice questions throughout my studying to make sure I am on track and that I don’t feel as unprepared on the day of the test as I did for this one.

Read the rest of this entry »

category: Academics, Allison, Austin, CPA Exam, Student Life, Uncategorized
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CPA FAQ

Posted by  on Thursday, April 5th 2012     

My MPA friends and I at a recruiting event last week. With all this recruiting, the CPA exam is the last thing on our minds.

Hey everyone! A lot of my friends are starting to sit for the CPA exam and I realized that I probably don’t know enough about the exam or what it entails. There is so much online about the CPA exam and I will share some of my findings with you!

First, you have to qualify to sit for the exam. The AICPA does a great job at covering anything and everything you would want to know about qualifying for the exam in their Uniform CPA Candidate Bulletin.

Next, be sure to know the specific rules that your state requires. UT does a great job at helping MPAs to meet the Texas exam requirements. Some of which include: 150 semester hours and a BBA degree, 30 upper division accounting hours and 24 related business hours as well as a 3-hour ethics course. What is great about McCombs is that when we graduate we have met the educational requirements- even the ethics course!

As far as preparing for the exam, I haven’t started since I am just a third-year, but I know it takes a lot of disciplined studying. There are many different prep courses and I would definitely recommend talking to the 5th-year MPAs to see what they have used to study.

Lastly, there are 4 sections of the exam; Financial, Regulation, Audit, and Business. Since MPAs love acronyms and abbreviations, you’ve may have heard the sections referred to as FAR, REG, AUD, and BEC, respectively. FAR and AUD both contain 90 multiple choice questions and 7 task-based simulations. REG has 72 multiple choice questions and 6 task-based simulations. And finally, BEC has 72 multiple choice questions and three written tasks. It is quite a lengthy exam which is probably why each section is taken separately.

The CPA exam seems so far in my future, but it is good to be prepared before starting the process! Good luck, everyone!

category: Academics, CPA Exam, Melissa, Student Life
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Update: CPA Exam studying

Posted by  on Tuesday, March 27th 2012     

http://blog.aicpa.org/

Hello everyone,

Just wanted to give a quick update on my process of studying for the CPA exam.  Last time I mentioned this, I was planning on taking the exam at the end of February.  Due to my lack of commitment to studying, I had to move my date and I am now taking it in two weeks.  This is my first section of the CPA exam and I will admit, I’m pretty nervous.

I spent most of my spring break studying for this exam so now if I don’t keep up with it, I keep reminding myself that I wasted my spring break then.  So far I am about half way studying with this section and definitely need to pick up the pace.

The problem I have been having is that now that classes are back in session, I tend to worry more about my homework than my CPA studying.  That is good because my classwork is “due” first, but then again, I cannot neglect my studying.  I also started a new class this half of the semester, which has added to my workload.  Nonetheless, I need to get back on track with my studying so that I don’t waste all the time I’ve studied by not being prepared.

My advice, then, is that when you start studying for the CPA exam, you need to be committed to it and follow a schedule. Otherwise, it will fall by the wayside and will seem to always be a concern on your shoulders.  I will keep you all updated on my studying and exam process as it continues.

On another topic other than CPA exam studying, the new class I started this half of the semester has been good so far.  It is called Studies in Auditing and since I will be going into auditing after graduation, I hope the class will be very useful.  So far (in the two classes we’ve had), I’ve definitely learned more about auditing and the profession.  I look forward to our discussions about technical topics as well as current issues in the auditing profession as it is all quite interesting to me.

Please leave comments or questions about the CPA exam, my new auditing class, or anything else you would like to know!

category: Academics, Allison, CPA Exam
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