[Anonymous]

Hello All,

I found this forum in my research, once I decided to go down the path of becoming a CPA. It has been very informative, inspirational and a great resource even at the point where I am at. Even now, I would greatly value some opinions…

I am currently taking classes this semester to fill up the gap to get to 150 units from the 130 I attained with my Finance degree over a decade ago as well as to fill the gap to meet the 24 accounting units required to sit for the exams. I am taking Financial, Corporate Financial/Managerial, Cost, and Auditing. These along with the 2 semesters of Financial and 1 semester of Managerial I took in the late 90s will get me the units I need, but for basic knowledge, will these be enough (without Intermediate, Tax, Government, etc.)? Can I get everything I need from prep materials/review?

I would like to think that I am not the dullest tool in the shed…I passed my brokerage exams (Series 7 and 63) with about 2-3 weeks and 1 week of reviewing prep books and MCQs years ago when I first got out of school, though I know this is different.

My biggest concern is spending another semester in school (time, money, etc.) when I could be studying for and starting to take exams in the spring if I can get transcripts processed in January or February.

I would greatly appreciate any and all input/feedback. Thanks.

(Also…I am working full time through all of this too.)

[Anonymous]

Why not.

The thing is that you may not have the 24 accounting classes yet. If the Financial / Managerial Accounting from the past are at the same level as the ones you're taking today, they may not be counted. Can't have the same class, at the same level taken twice.

Then you have to check with your state board whether they require a taxation class.

[Anonymous]

Fortunately the classes will count…they are from different schools with different course descriptions (some of the material is different than I remember) and the state board doesn't require specific individual classes.

I appreciate the response, the why not is what I am concerned about…will it not put me at a disadvantage…does it matter?

[Anonymous]

I think as long as you have a solid understanding of the principles of accounting and are committed enough to learn on your own, you will be fine without Intermediate. Although I would highly suggest that you use a “teaching” review course like Yaeger (I think Roger is one, too). They tend to explain concepts in greater detail which helps if you've never seen the material before or have forgotten it.

I've been out of school and haven't worked in 8 years, so I felt like a large part of FAR was new material. I was able to learn everything with the help of the review course, but some sections I did have to go over 2 or 3 times until it finally clicked. If you have a good foundational knowledge of accounting, it shouldn't be that hard for you to pick up.

[jelly]

Keep in mind that Intermediate 1 & 2 covers a lot of balance sheet accounts nuances, including available for sale securities, pensions, bonds, warrants, options. Advanced accounting is combinations and consolidations. Tax can be its own beast, as well as government accounting. You will have to be very comfortable with terminology, timing, and jumping around the financial statements with all kinds of journal entries.

Couldn't pass again!

[Jeremy]

I think it can be done, but you'll have to study a lot harder to pass because a good portion of the material will be completely new to you. If you can I would take the intermediates because I think it would really help you.

B- 8/13/2012- 92
A- 7/19/2012- 83
R- 5/30/2012-82
F- 7/3/2012- 90

[Anonymous]

I appreciate the responses, these are my concerns…if it was up to you, knowing what you know, would you have skipped those classes and spent the 4 months doing test prep/learning along the way, instead?

[Anonymous]

It looks like I should be able to take Intermediate 1 in winter session which would only push my testing into the second window next year and I could start test prep/studying in February…would that one class be worthwhile/alleviate some concerns?

I am not looking for the easy way out, as anyone with a full time job that has taken 16 units of accounting at the same time can probably attest to. I just want to make sure I am making the most effective use of my time and not delaying the exams for 6 months or more unnecessarily.

[Minimorty]

Intermediate accounting classes are not even remotely necessary to pass the CPA exam. I got my undergrad in Econ and did not take a single accounting course. When it came time to sit for the exam (6 years after graduation) I needed 24 units to sit for the exam. I took the following courses:

Intro to Financial Accounting

Intro to Income Tax – Individual

Intro to Income Tax – Corporate

Intro to Forensic Accounting

Something about Sarbanes Oxley

Intro to Forensic Accounting

Quickbooks 101

Intro to Managerial Accounting.

All of these courses covered the very, very basics of each section. I took no upper division courses, no intermediate courses, and nothing outside of these classes. If you use a good review program like Becker, it has all the information you need to pass.

[jeff]

You used supplementary materials as well Mini for some of the sections at least, correct?

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Minimorty]

Yeah, i actually found this site like 2 days before my FAR exam. I took FAR using only Becker and got an 87. I supplemented with Wiley online test bank and Ninja notes for remaining three exams and got 86, 85, 76. Used Ninja notes only in my last week of study. Put the pdf on my iPhone and read through it a bunch as a review.

[jeff]

Ahh…that fateful day when you found the forum and we were all changed forever 🙂

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Minimorty]

Lol. This site has grown exponentially since I started posting and there are more alumni than ever. This site wouldn't be nearly as awesome without me. 😉

[Sandra]

In his intro video Roger says- as long as you remember Debits on the Left and credits on the right I will teach you the rest. I think its harder without a more extensive background but still super doable. You'll just have to put in a bit more time. I had zero background in auditing and any of the tax stuff, so I found FAR easier than REG, but ultimately everything you need to know is in your review course.

[Whatdidyou]

Intermediate accounting is a probably the most important class that accounting majors take in school. It's sorta strange to not take it and definitely not recommended.

If you take it, it will absolutely help you. Everything you hear/do/learn in it is game for the CPA exam. This class covers and goes deep into the most difficult (and many of the simpelest) parts of FAR. Additionally, you REALLY get comfortable with the the financial statements, journal entries, and the accounting process – all of which will help you on multiple sections. Also, learning about how to do DTA, Pensions, Leases, bonds,..is much easier in a classroom-style with homeowork and projects than in front of a computer screen.

With that said, at the end of the day it is just a couple of classes. If you don't take it then the exam is still passable but will require more studying.

REG - Passed!!
BEC - Passed
FAR - Passed
AUD - Passed

Study Materials: Becker basic course

[Anonymous]

I know I've already posted on this thread earlier, but it is my opinion that you absolutely do not need to take Intermediate Accounting to be able to pass the CPA exam. Would it help you? Most definitely, yes. Should you spend the time and money to take it before attempting to study for the exam? I say no. The biggest difference in what you will be trying to do is if you take an Intermediate class, I'm assuming you will be going to an actual class and listening to the instructor lecture and have assignments and tests along the way. With a CPA review course, you will have to watch the lectures on your own and be disciplined enough to do lots of practice problems. There is no one telling you when to do what, and the only test you will have will be a “final” exam.

I didn't remember anything from the 2 Intermediate classes I took back in 2000, and I never worked with bonds, securities or anything else that was covered in those classes. Pretty much everything I knew for the exam I either had in Principles or learned from my review course.

[Author]

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