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It starts out so quiet, so innocent.

It’s Monday January 4th and you settle into your chair. Tax season eh?

Maybe this year won’t be so bad after all.

But you’re wrong.

It’s worse.

January … then February … then March … 6 days a week … and then 7 days a week … and then finally 8 days a week as it crescendos into a three-hole-punched-sign-here-sticker-zombie-utopia where you’re willing to drink day-old Folgers just to stay awake.

Every Day is the Same.

Every Day Sucks.

At least you’re getting overtime.

But wait – there’s more.

You wanted to start the year off with a bang, so you back in December, you scheduled Financial Accounting and Reporting for April 20.

No Rest for the Weary.

How to Study 20 Hours a Week During Busy Season.

To fit it in work, family/friends, sanity, and studying 20 hours a week, you’re going to have to plan.

Plan or Die.

The first thing you need is the Free 2012 NINJA Study Planner.

From there, follow the ELL (Early Lunch Late) Plan.

The plan is simple.

The sacrifice is not.

Most people will not implement it, but the payoff is huge if your family (and your sanity) suffers less from you being missing in action because of it.

How it works:

Early

Get up 1.5 hours earlier than normal. If you are already getting up at 4, donʼt shake your head in disgust. This plan isnʼt for you. For those who normally get up at 6 or 6:30am, start getting up at 4:30 or 5. Stumble to the coffee pot (which you loaded the night before) and hit the ʻgoʼ button.

While the coffee is brewing, go take a quick shower and wake up. Head back to the coffee, grab a cup and sit down at your computer and books (which you also set up the night before).

Study for an hour.

Notice that checking your e-mail, Facebook, sports sites, or news was nowhere in this sequence.

Did you really sacrifice an hour and a half of sleep to check celebrity gossip? No you didnʼt.

Donʼt even fire up the Internet browser. Not even once.

Lunch

Say “no” to the co-workers heading down the street to grab lunch and talk about how dumb their boss is for an hour. While that sounds fun, youʼre here to study so that instead of hanging out with people that you otherwise wouldnʼt outside of work, you can spend more time with loved ones.

You take your lunch to your desk (which you also packed the night before). Start eating and hit “play” on your CPA Review course.

Your legal pad and pen will get food smears on it while you take notes, as will your mouse, but who cares. Same rule applies as the morning: no e-mail or Internet.

Study for an hour.

If your boss frowns on one-hour lunch breaks, consider asking for permission because you are trying to study. Unless there are pressing deadlines or they are just a jerk, they will likely have no problem with it.

Late

This is where it will differ greatly based on your home situation. If you are single with no children, married with no children, or married with children but your spouse is at home, then this could possibly work for you.

If none of these apply to you and you need to get home after work, then you will need to defer your study time until later in the evening from 9-11pm.

At 7pm – or as soon as culturally-permitted in the workplace during Tax Season, either start studying at your desk or bolt the office and head to a coffee shop or library.

Study 2 hours.

Do this four days a week, staying late 2 of those days.

Take Friday night off.

Sample schedule:

Monday: ELL – 4 hours (Study late @ work)
Tuesday: EL – 2 hours
Wednesday: ELL (Study late @ work) – 4 hours
Thursday: EL – 2 hours
Friday: EL – 2hours
Saturday: None
Sunday: All Day – 6 hours

Total: 20 hours

If your family is feeling left in the dark from you studying all of the time mark this schedule on the calendar and let everyone know your plans.

When you study – study.

When youʼre with your family, leave the laptop and study books put away.

If you’re reading this and shaking your head because you struggle just to find 5 hours to sleep and eat during busy season, then this plan isn’t for you and you probably should study for the CPA Exam during this time.

I realize that this isn’t a perfect system that will fit everyone’s schedule exactly, but if you want to make a “go” of it during Tax Season, then hopefully this will give you some sort of game plan to follow.

Adjust accordingly to your life circumstances.

To Your Success,
Jeff

The Final CPA Exam Pass Rates for 2011 have been released by the AICPA.

Overall – pretty much par for the course … July/August (Q3) 2011 was the strongest of the year and January/February was the worst. The notable exception was that AUD scored worse than Q1, which isn’t normal.

Look for 2012 CPA Exam Pass Rates to be stronger as candidates get more familiar with the new exam delivery structure that was implemented in 2011.

Need CPA Exam Study Tips? Motivation? Do you just flat-out feel the need to prank a stranger?

Introducing the NINJA Hotline.

How it works: Call the NINJA Hotline at (323) 834-9132 (yes, the NINJAs are in L.A.) and leave a message/question and I will (hopefully) answer it in the next CPA Reviewed Podcast.

Yes – your voice will be on the podcast so don’t call unless you’re NINJA-riffic with that.

Otherwise – send your question via Ask Jeff.

The NINJAs are standing by awaiting your call.

The CPA Exam Pass Rates for the July/August 2011 testing window have been released by the AICPA. For the most part, the pass rates are similar to this time in 2010 – except for Regulation.

Q3 2011 REG Pass Rate: 45.37%
Q3 2010 REG Pass Rate: 54.03%

It’s 8pm and the kids are finally in bed and it’s time for some more CPA Exam studying.

You have a choice to make.

Option 1: Throw down an energy drink or pound a latte and pay for it later when it’s midnight and time to shut down, but your body thinks it’s noon due to that chemical cocktail you were slurping down only a few short hours ago.

Option 2: Well, is there an option? Chris from VersatileHealth.com says yes and he wrote an article about the issue after I explained to him the study quandary people face when they are tired and need to get some solid hours of studying in.

Chris is a friend of mine and is Muay Thai instructor in California. He has trained several prominent MMA fighters and is passionate about health and wellness.

I hope you find the article helpful if you’re looking for some alternatives to staying awake during those late night study sessions.

-Jeff

Eric Thomas was a high school dropout and was homeless for two years.

Today, he has a PhD and is an author and motivational speaker. In these two videos, he’s addressing students at Michigan State University.

His words of wisdom are impacting and directly apply to candidates studying for the CPA Exam. Enjoy.

Allyson is a weekly Club 75 Blogger as she documents her journey through the CPA Exam.

Since I decided to switch careers to Accounting six years ago, I have either been in school or studying for the CPA exam. That all ended today when I got my last passing score on Regulation.

When I saw it at work, I muffled a tiny squeal, and then I ran to my father’s office and hugged him so tight. My tears of happiness turned into sobs and he was literally holding me up. The burden was lifted.

Ever since I walked out of Prometric last month, I have been planning my restudy strategy because I was convinced I had failed. The simulations were a nightmare.

How could I prepare for them next time? I would order Roger CPA Review, a pair of pajama jeans, pay that exam fee for the eleventh time, and start from scratch. The thought of it literally consumed me and made me sick to think about it.

To my huge surprise, I passed. The stars actually were in alignment on that day of earthquakes, hurricanes and horrible simulations. I finally got a break.

As someone who has never been a stellar test taker, and came into accounting later in life while trying to raise a family, let me tell you that if I can pass the CPA exam, then you can too. It took a lot of trial and error, but I found a strategy that worked. For me, each exam required a different strategy. Find what works for you.

Unlike my hero, Kricket, I thought several times about giving up. I thought about it A LOT, especially when I lost credit for BEC. I’m glad I forced myself to stick with it, which was the hardest thing I have ever done in my life. I’m proud and amazed with myself right now.

Many of my forum “classmates” did not pass and many of them have passed in previous classes. I could not have done it without the support and humor they have given me.

Sometimes I felt I was alone when my classmates “graduated” but they have remained here for me throughout, plus newfound ones. I plan to visit the forum and give back two–fold what I received.

If I ever run into Olinto, Gearty, Simpson, Yaeger, or Jeff Elliott, I’m going to give them a big, fat hug and probably blubber like an idiot on their shoulder too. They helped make me a CPA.

I still can’t believe I can watch Clemson beat Florida State this weekend and not feel guilty about not studying.

Good luck to everyone studying. Knock it out of the park in Q4.

“Our greatest glory consists not in never failing, but in rising every time we fall.”
-Oliver Goldsmith

Source: AICPA

The AICPA has released the CPA Exam Pass Rates for Q2 2011. Just like Q1, 2011 scores are down compared to 2010.

Auditing and Attestation:

2011 Q2: 47.95%
2010 Q2: 50.75%

Business Environment and Concepts:

2011 Q2: 46.48%
2010 Q2: 48.86%

Financial Accounting and Reporting:

2011 Q2: 44.27%
2010 Q2: 48.37%

Regulation:

2011 Q2: 45.01%
2010 Q2: 52.05%

Analysis: Written communications may have bailed people out on FAR/REG/AUD more than we realized.

The CPA Exam pass rates for the First Quarter of 2011 have been released by the AICPA.

Auditing and Attestation:
2009 Q1: 47.61%
2010 Q1: 46.86%
2011 Q1: 43.88%

AUD passing rates are down 7.8% over 2009 and 6.4% over 2010.

Business Environment and Concepts:
2009 Q1 46.23%
2010 Q1: 46.59%
2011 Q1: 42.32%

BEC passing rates are down 8.5% over 2009 and 9.2% over 2010.

Financial Accounting and Reporting:
2009 Q1 45.54%
2010 Q1: 44.95%
2011 Q1: 42.43%

FAR passing rates are down 6.8% over 2009 and 5.6% over 2010.

Regulation:
2009 Q1: 47.96%
2010 Q1: 49.00%
2011 Q1: 41.28%

REG passing rates are down 13.9% over 2009 and 15.8% over 2010.

Analysis:

Wow. The lowest passing rates in 3 years. Q1 is historically the worst quarter of the year for CPA Exam passing rates (tax season), but this is a little surprising. I figured pass rates would stay pretty close to 2010, maybe a little lower. What’s up with REG?? I’ve heard people say that REG was brutal in January/February. Now I believe them.

Brendon Burchard is releasing his new book “The Millionaire Messenger“.

It’s free – all you pay is $6.95 for shipping and handling.

Why should you take the time to order it and read it? Brendon is legit – I’ve been to two of his seminars on starting and growing a business and will be reading it myself.

Why would Brendon give this away? It’s a genius move. He wants people to read it and then review it on Amazon.com.

I’m not receiving any compensation for promoting this book. I just think you should go order it and read it.

Click Here for the Millionaire Messenger.

Jeff