CPA Reviewed – Podcast #11




Another71.com show

Summary: Daniel: I was recently accepted at a firm as an advisory associate that will be starting in Fall 2012. I'm currently working full time at a non-profit as a staff accountant while completing my MS in Accounting part time in the evenings. Since I plan to get my CPA license before I start working, what should be my plan of attack in terms of studying for the exam? I think after I graduate in May 2012 I should just quit my job and study full time from May to Sep/Oct. Do you think that will be enough hours? My professor advised me to study for two sections at a time and then take two sections one month after another. I don't know if that's too much or not. What is your take on how I should handle my study schedule to ensure that I can pass by Sep/Oct 2012?<br> <br> <br>  <br> <br> <br> Joyce: On the simulation portion of the Regulation exam, do I need to type my work into the cells? Would the work get reviewed for grading at all or is the final answer all that matters? I was wondering if partial credit would be given.<br> <br> <br>  <br> <br> <br> Travis: I noticed that the 2012 Wiley CPA exam review does not come out until December. I already have the 2011 material. I saw someone post on your site that the First Quarter 2012 exam will be based on 2011 material. Can you confirm this? I'm not sure how someone would study for FAR in early JAN 2012 if they don't have the updated material until December.<br> <br> <br>  <br> <br> <br> Sara: I just got my FAR score back this morning at failed with a 66. The review course I am using has been helpful in passing AUD and BEC and seems to be going well for REG, which I take November 30. I didn't feel as if I was retaining anything for FAR. I watched all the lectures but kept getting distracted and couldn't remember much after completing them. FAR has never been my best subject and maybe I just didn't give myself enough time to pass, roughly 6 weeks. I really need to pass both REG and FAR before tax season this spring.I was wondering what you would recommend as far as re-watching FAR lectures and reworking problems with my review course or switching to different materials. I have a photographic memory and tend to remember the correct answer choice if I've seen it before. Therefore, I probably need different multiple choice questions to work. Do you think NINJA notes and Wiley test banks for both REG and FAR would be a good idea? I don't want to fail REG too and everyone on the forum says that I definitely need to supplement my review course. Any advice would be greatly appreciated.<br> <br> <br>  <br> <br> <br> Marta: I’m really down on myself right now. One of my friends emailed me an article you wrote on “How to Pass a Section of the CPA Exam in 20 Days” and I have a question for you. Is it truly possible to take the CPA exam as a single mom with kids starving for mom time, a full-time job and in a relationship? I feel like I’m being pulled in so many directions. I really want to pass the exam but I’m so frustrated with the material, with the timing and effort I need to invest which I don’t have in the first place.I find myself hearing the review lectures and understanding what is being explained but not remembering a thing the next day! To make matters worse I passed REG last year and I’ve gotten several reminders from the Texas State Board letting me know that my credit will expire in February 2012. I’ve taken BEC 3 times and failed! I just took Audit and got my results Monday and also failed!<br> <br> I have FAR scheduled for the 29th of November, which I’ve never taken before. I don’t have much time off left at work and feel like I know nothing regarding financial!<br> <br> <br>  <br> <br> <br> Allie: First off, I want to thank you so much for all that you've unknowingly done for me going through this process. I have FAR left on November 23rd and will hopefully be done after that...