[Last Chance CPA]

Got out of REG today, and I am certain now that the CPA exam really isn’t a test of intelligence or accounting knowledge. It is instead a test of how much you can cram and remember is a short period of time, and also how lucky you get on exam day with the MCQs/SIMs.

I know I am not an Elijah Watts Sells kind of guy, and accounting doesn’t come naturally to me, but these exams are not a measure of how I would practice as a CPA. Note: I am older and am not an accountant. I am looking to change careers or merge the CPA with my IT/business consulting experience.

I feel like I know law/tax at this point, but having taken this exam once again, I don’t feel like I passed. I understand that there has to be some sort of testable measure, but there has to be a better way to test accountants.

Maybe it is a perfectly valid exam, and I am just not cut out….sigh.

AUD - 75
BEC - 75
FAR - 76
REG - 76

I want those initials next to my name!!!!

FAR - 76
AUD - 75
BEC - 75
REG - 76

Now I need some experience!!! And some networking...

[Anonymous]

i agree to some degree. I believe the CPA is a test that any person in the world can pass, whether they have a major in accounting or not. If they have the right mindset and most importantly the proper study material, they should be able to pass the exam. I forgot a lot of the material that I learned in my prior sections already (but surprisingly have retained some stuff when I see examples in real life or in my graduate studies). The hardest part about the CPA is having the mentality that passing 1 section or 3 sections is the same thing and is equivalent to passing 0 sections. You need to pass all 4 in order for all the work and effort you are putting in to have any significance. So, unless your plan is to finish the exams in as small time as possible, the hardest challenge is realizing that this exam will take up a majority of your time and consume your life for the next 6-12 months. Patience and being humble are key

Congrats on being done though @LastChance. I have been at it since November and I would be lying to myself if I did not admit that I have been getting lazy with my studies lately, especially since the weather is getting nicer. But, I have been trying to step it up this weekend. Hopefully July comes soon

[mw798]

Yeah it's more of a test on memorization. Nothing on the exam is really hard conceptually so the average person will pass if he/she puts in the time.

Contrast that with the actuarial exams, if you don't get it you probably won't get it no matter how many hours you put in.

[Martin]

I think FAR,REG,AND BEC are the 3 parts where memorization is key. Audit on the other hand is the only part where 60% is memorization (all the reports and ethics,etc), and 40% is thinking like an auditor (IC,Evidence). You cant pass Audit just by memorization.

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[justgivemea75]

@Martin: I feel it's the complete opposite. I thought AUD and the non-cost accounting/finance portion of BEC were the rote memorization. Sure, having some experience will help you in terms of familiarity, but if you don't remember what a DoS-attack is, you only have a 25% chance of getting that question right. On the flip-side, for FAR, just knowing the journal entry for writing off AR isn't enough. You have to be able to figure out how a certain transaction will flow through the financials, etc., which is what you get paid to do IRL as well (hence why CPAs are paid well and not automated).

FAR - 84
AUD - 76 (phew)
BEC - 88
REG - 77

DONE!

[sdguy]

FAR is not memorization, it's understanding.

AUD is also about understanding concepts, though there are some rules to memorize too.

REG on the other hand is a lot of memorization of threshold limits and rules with exceptions, and isn't logical like GAAP accounting can be.

AUD: 83
FAR: 77
REG: 86
BEC: 86

[mw798]

In my opinion, AUD was pure memorization. I just memorized the Becker book and scored a 98 on it. I did not find any critical thinking involved in it, pretty much just memorized what was in the book and I was good to go. Business Law on BEC was pure memorization as well.

BEC (non-business law) and FAR you need to be able to apply the concepts as well.

[Martin]

I never said that Audit was not a test where rote memorization couldn't help you. I said Audit is 60% memorization, and 40% understanding the concepts. I wouldn't think that Audit is as simple as Mw798 put it, it would not be the part of the CPA exam with the highest failing rate.

adguy is correct now that I remember how I passed FAR. This exam has so much info that pure memorization wouldn't be enough. You have to understand GAAP.

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[mw798]

In my experience, I felt audit was closer to 90% memorization and 10% critical thinking. Once you memorized the material, the questions were pretty easy. With AUD there were not many grey areas, it was pretty black and white so there wasn't much to think about.

I took AUD right after FAR to give myself a breather. With FAR I had to study twice as hard as AUD. As for why AUD has the lowest failing rate, it's been discussed on this and many other CPA forums before and a common reason that is brought up time and time again is that a lot of auditors blow off AUD as this is their job. However, you still have to study and memorize the concepts and types of questions the AICPA likes to ask.

[Last Chance CPA]

Well, my overall point is that the exam does not truly test your accounting abilities. It is a challenging exam, and accounting is not saturated like law school – i.e., I think there are too many lawyers. I also thought, after getting the MBA, that there should be a comprehensive exam for business school. That way, we can weed out the crappy schools. And as mentioned, I am not the smartest guy in accounting, but I definitely understand the material. I can probably teach this stuff down the line. But this exam took away some of my confidence.

@cpasucks23 – I am not done yet. I have to pass REG on this try. I am keeping my fingers crossed…

AUD - 75
BEC - 75
FAR - 76
REG - 76

I want those initials next to my name!!!!

FAR - 76
AUD - 75
BEC - 75
REG - 76

Now I need some experience!!! And some networking...

[mw798]

What's impressive is that you passed with 75s and a 76 so far. Now that's efficient studying.

[Skynet]

mw798 – He overachieved and showed off by getting a 76 in FAR though : )

AUD - 90
BEC - 78
FAR - 84
REG - 87

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - In Progress
Phase III : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase IV : Form the new Charlie's Angels with Megan Fox, Scarlett Johansson, & Gal Gadot
Phase V : TBD

BEC : 78
REG : 87
FAR : 84
AUD : 90

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - Initiated
Phase III : Bring back 8-Tracks
Phase IV : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase V : TBA

[Last Chance CPA]

@mw798 – LOL. Not efficient. I just don't think this stuff comes to me as naturally. But it will be funny if I end up with a 75 on REG. I don't think anyone has ever received all 75s? I would be 1 point away from a perfect 300…

Definitely props to all the Elijah Watts Sells winners though…

AUD - 75
BEC - 75
FAR - 76
REG - 76

I want those initials next to my name!!!!

FAR - 76
AUD - 75
BEC - 75
REG - 76

Now I need some experience!!! And some networking...

[Skynet]

Now Last Chance CPA can't become a member of the Perfect 300 club. He'll be in the 301 club instead. Good Luck on REG though. Hopefully you pass and be done with it : )

AUD - 90
BEC - 78
FAR - 84
REG - 87

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - In Progress
Phase III : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase IV : Form the new Charlie's Angels with Megan Fox, Scarlett Johansson, & Gal Gadot
Phase V : TBD

BEC : 78
REG : 87
FAR : 84
AUD : 90

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - Initiated
Phase III : Bring back 8-Tracks
Phase IV : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase V : TBA

[Last Chance CPA]

Thanks man. I hope you get Megan Fox. But, once you get the CPA, you can do even better 🙂

AUD - 75
BEC - 75
FAR - 76
REG - 76

I want those initials next to my name!!!!

FAR - 76
AUD - 75
BEC - 75
REG - 76

Now I need some experience!!! And some networking...

[mw798]

I remember reading somewhere that in one of the years recently that there were only 2 people who passed all four sections on their first try with all 75s so that's way harder to get than the Elijah Watt Sells award.

[Author]

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