Here and there….

08. Jul, 2008 6 Comments

July 7 came and went and I obviously didn’t take REG. In fact, I’m only into hour 9 of individual tax – my first module. I’ve been a little busy, but the biggest reason why I’m only 9 hours into my study program is that I’ve been taking it slow. 15 minutes here…30 minutes there – I’m rebuilding my knowledge of individual tax and it’s proven successful. Two exams ago, I scored a 93 in individual tax, but I’m taking nothing for granted at this point.

I am taking very good notes and am absorbing the material. There’s little nuances that the Exam will try to use to expose candidates’ weaknesses and I don’t plan on falling for them because I’m jotting down rules, exceptions, and exceptions to the exceptions in the margins of my Wiley book (note to editor – make them wider next time, please) and will review them periodically as my studying process progresses.

I became a fan of Phil Yaeger because 1. he was nice enough to offer readers of this site a discount better than what he gives the Big 4 candidates and 2. he got me through the humbling ordeal known as BEC with a score that I didn’t think was possible for me.

Now, after spending 9 hours out of the 30 or so in his REG course, I’m an even bigger fan of Dr. Yaeger. Phil does something that I think is unique to the industry. He covers a topic in the Wiley book such as life insurance proceeds or whatever, discusses the text, puts in his $.02 and then has the candidate immediately flip to 3 or 4 relevant multiple choice questions. In doing this, you’re getting both the theory and the application. The previous review materials I’ve studied are structured to where you go through the entire unit and THEN do questions. After completing a module with Phil, you’ve already done 100+ questions on the topic.

I will wrap up studying unit 9 and 10 in Module 33 tomorrow, review my notes and type then into Excel, and then do every question on the Wiley software for the topic.

I discovered recently that July 2008 is as busy a month for me as I can remember – something every weekend…kids have something…family vacation…blah blah. If I take REG in August and then sit for FARE in October, I really don’t care.

As long as I’ve passed the ethics exam by Christmas, I’ll be happy.

Thanks for reading.

Mags 09. Jul, 2008 at 8:13 am

How about spacing out your tests like this – REG for August, rest up during Labor Day Weekend, and schedule FAR for Nov, just before Thanksgiving? Those are the twin monsters, in terms of volume.

Type out the notes you are writing in the margins and do those questions! Do the questions over and over…
Inko 09. Jul, 2008 at 11:30 am

I kind of disagree with doing 30 mins here and there. While life is busy it really does come down to priorities. Taking a weekend break is fine, but a month break is pushing it.

As mags said the volume is huge. The faster and more volume you grind in a shorter time period the more likely you’ll pass. Just my opinion. Everyone varies I suppose.
Anonymous 10. Jul, 2008 at 5:48 pm

This is one of the most grueling tests. My 18 months is over Oct. 14th and I am fed up and exhausted with this test. But…I only have one more to go so I really need to get my butt in gear and get this one passed so I don’t have to go through yet another summer with this test hanging over me. I have used Becker which I think has been helpful because of the way it is structured. As far as study methods you just have to be diligent and really know the material inside and out. Easier to say then do, but just be patient, persistent and practice. (Becker motto but it has really helped me!) Take Care
Anonymous 13. Jul, 2008 at 5:01 pm

I would have taken the exam if I were you. When does your AUD or BEC expire?
another71.com 13. Jul, 2008 at 6:13 pm

I would have taken the exam if I were you. When does your AUD or BEC expire?

June/July have been very busy for me…I have a family and I’m in no time crunch. I’m going through REG as thoroughly as I’ve ever gone through an exam (I take extensive notes while watching the lectures and then I re-wrote my notes and have done a couple-hundred questions over individual tax).

My AUD score expires in late 2009/early 2010…something like that. BEC expires after AUD. I’ll have REG and FARE passed before Christmas.

I’m taking studying seriously this time and am spending the time to do it right – something I should have done from the beginning and would have passed this thing long ago, but I didn’t really want to be a CPA bad enough to put forth the effort.

There was no point in sitting for an exam that I wasn’t ready for and wasting time and money. I’m done throwing money away at this thing.
texasflood 14. Jul, 2008 at 8:47 am

“I’m taking studying seriously this time and am spending the time to do it right – something I should have done from the beginning and would have passed this thing long ago….”

I’m with you. I had slated myself to take REG in mid-July but didn’t feel right about my progress through Yeager (too much going on at work and at home). As a result, I pushed it back to August. As a result, I had to push FARE to October.

I’ve spent too much money, and time away from my family. It’s time to get down ‘n’ dirty with this thing.