Anyone quit work to study for the exams?

CPA Exam Review CPA Exam Forum Off-Topic & CPA Exam Misc OT: Off Topic Anyone quit work to study for the exams?

This topic contains 17 replies, has 15 voices, and was last updated by  mtlgemini 2 months, 2 weeks ago.

Viewing 18 posts - 1 through 18 (of 18 total)
  • Author
    Posts
  • #195334

    Anonymous

    I'm in a bit of a situation here. My company's going through an audit.. it hasn't actually started but will soon so were preparing for it. Here's my dilemma, I can't take this job any longer. I want out.. for a number of reasons. I've only been with the company 9 months. My FAR credit expires on 8/27 and I have Regulation and Audit left to take. I really wanna just quit and study full time for my exams because I do not want to lose my FAR credit. My only concern is that my company is small.. and i am the only staff accountant so i would feel really bad leaving them during this difficult time…

    I know i'm gonna burn bridges.. i dont have time to give them 2 weeks. i jsut wanna leave so bad and just focus on my exams.

    has anyone been in a similar situation?

    #682420

    tailz2016
    Member

    I'm not in the same situation or have I ever been . But u need to do what u feel is best for you. Just like company's always do what's best for them. Get down to finishing those exams if u believe that will benefit your future.

    #682421

    Anonymous

    everyone is replaceable in a company, so don't worry too much about the company. However, if you want to use them as your reference in the future, you should reconsider the 2 weeks notice or ask them if you can switch to part time until they hire a replacement. In addition, you have to be honest with yourself if you can pass two tests within the same window, otherwise you are going to be unemployed and still not done.

    #682422

    Missy
    Participant

    Well you DO have the time to give 2 weeks notice, but you don't want to. There is a difference.

    Frankly they'll be fine without you. It will mean more hours for those who are there for the audit and they won't like it, but they'll get through it. I would personally make sure that you don't let anyone call there for a reference when you are looking for work. It might be fine, they might just confirm dates and title, or they may say that you are not eligible for rehire.

    Honestly it sounds like you are panicking because you've got a lot going on at once. That is normal. However making a knee jerk decision out of fear may not be the best way to handle the situation.

    Old timer,  A71'er since 2010. Licensed since 2012-non reporting MA CPA.

    Finance manager/HR manager

     

     

    #682423

    Stevie763
    Member

    Ha! I was literally in the exact situation that you described above. I was in charge of accounting for a small company and though interesting at first, my heart just wasn’t there and I wanted out. With 2 exams to go, I quit to focus solely on the exams and to move onto bigger things. With my experience:

    -I felt guilty about quitting, yes, but you also have to look out for yourself in this type of situation and your employer should respect that. I gave my company about a month’s notice, wrote up all the accounting procedures, and even did some post training with my replacement after I quit. Try not to burn any bridges – I used these ex-bosses as references during my job search and later found that my former boss was one of the determining reasons that I got my current job!

    -As for the studying, just because you have more time, it doesn’t necessarily mean you’ll have better chances of passing. I tried to take REG and BEC in about a 2 month timeframe unemployed, and failed both.

    -Job searching was another story. I had to move on from studying and it took me about an additional 2-3 months to finally land a job. The first question interviewers always asked was, “why did you quit?” So just keep in mind that it may take a while to get back in the job market.

    I am now working for a great company and have since completed REG and have BEC retake at the end of this month. Things eventually turned around for me but you may say 5 months went down the drain and not to mention all my $$$.

    I’m not saying don’t do it – things may go differently for you, but just keep in mind my experiences above. The one thing I would like to point out is your experience. During my job search, most companies liked to see at least a years’ experience if not more – but passing the CPA may compensate for this. Weigh out the pros and cons and consider some of the things I mentioned above. Good luck!!

    #682424

    Do you live in your mom's basement?

    #682425

    ocarina
    Member

    No! Work keeps me from going stir crazy.

    #682426

    Anonymous

    I only read the title of your post. I quit my job to study for the cpa exam in July 2014. I had classes up until December 2014 and recruiting season. Luckily, I did get a job but it wasn't for a January 2015 start but a Sept. 2015 start. I had no choice but to accept. In the meantime, I finished my 150 credits and passed the cpa exam. However, I live at home rent free, no children or spouse. I have no debt just a few small bills. I had about 11,000 saved and my parents and boyfriend helped me out.

    #682427

    1koolcat
    Participant

    Just be sure you are really ready to study and not just looking for a break from work. My parents talked me into quitting my job to study for the exam in Nov 2013. Once I quit, they kept encouraging me to relax. Then they went out and spent all their money on a new house and a new car. I think they expected me to pass the exam in about 6 months. Now I have no money, no job, and I've only passed AUD. I am a terrible procrastinator.

    #682428

    Anonymous

    I don't think it's ever a good idea to quit a job without having an offer from another company. Don't just up and quit. Give notice. Everyone is replaceable…the only way you will burn bridges is if you don't give notice. Most people don't end up doing that much during the last two weeks anyway. At my past jobs, I've mostly just had to document all of my processes and train new people. I didn't work more than 80 hours in those last two weeks.

    That being said, before you quit, I would ask yourself if you could handle studying full time. I'm the type of person that would not be able to do it. I can only study for max 3 hours per day and then I become totally useless. There are definitely people out there that can handle 8 hour days of studying, but make sure you are one of them before you decide to quit.

    #682429

    June2016
    Participant

    @1koolcat its ridiculous how similar my story is to yours lol. My parents encouraged me to leave my job as well, they meant well but it was the wrong decision. My plan was to pass everything within a couple of months but that turned into much more than a couple of months. If you don't mind me asking what is your plan now or next step? Since it has been a while since my last job, not sure how I will explain it in interviews. Do you think you will continue studying full time until you pass or will you start to look for a job soon?

    And if anyone decides to leave their job in order to study make sure you have the discipline, enough money saved, and a very specific/detailed study plan. Without a job which gives a person time structure it is very easy to get lazy and procrastinate even if you think you aren't a procrastinator.

    #682430

    Tuffy11111
    Participant

    Holy crud. I had to make sure that I didn't write this. I'm trying to get my parents to pay my mortgage so I can quit and study.

    If you can afford it, I would recommend it.

    #682431

    1koolcat
    Participant

    Positivethoughts,

    My plan WAS to pass Reg and then start looking for a job. I thought with 2 tests under my belt, I would look like a more serious candidate. I just took Reg again last week, so if I pass, I'll look for full-time work, if not, I'll look for part-time/temp and keep studying. I was able to get in with a small CPA firm during Jan-Apr doing individual returns, so I've got that on my resume which helps. What I'm trying to avoid is settling for a full-time job that leaves me too tired to study and doesn't contribute to my experience, because I know the 18 months will slip away before I know it. When I was working for the CPAs, they knew the importance of studying and gave me time off. I think if you just take any job that pays, they won't understand your goals and it will just tick you off and wear away at your determination.

    #682432

    highlightnumb
    Participant

    I can see if you had about 4 months to pass aud and reg but wow, to pass both by aug 27th is super tough. I know i probably wouldnt be able to do it and thats even if i studied 8 hours a day. I was not working when i took audit and studied my ass off for a month probably more than 8 hours a day on average and still got a 65. So you just have to be realistic with yourself. You dont have an impossible feat in front of you because i have heard of people doing it.

    I completely understand how you feel about losing credit for FAR who the heck wants to take that beast again. What it really comes down to is giving yourself a fighting chance. I would rather fight to save FAR rather than continue at a iob that you dont like anyway. This cpa process is your life so why not put it all on the line and fight. Go For It! You will eventually pass.

    Mario Marcel, CPA
    #682433

    highlightnumb
    Participant

    I guess i should ask how much study time have you done so far for aud and reg?

    Mario Marcel, CPA
    #2369880
    rahee
    rahee
    Participant

    Bringing this post back. Is anyone else also in the position? Im debating to take a Leave of Absence to study for my last exam (bec expires in sept), but I know everyone else on my team will have more work if I take time off.

    AUD - 84
    BEC - 78
    FAR - NINJA in Training
    REG - 79
    Rahee
    #2370027

    mtlgemini
    Participant

    I am not in the exact situation, but I quit to be able to allocate more time for studying. I had tried once before and failed REG right before tax season. I knew I wasn't going to be able to study during tax season and more responsibilities just kept being added to my workload after tax season. I decided that I needed to just worry about myself before anyone else. So, after things settled down towards the end of the year, I put in my notice. I don't think you should worry about the work load increasing for others. I don't think there will ever be a right time to leave a job if we prioritized this concern. At the end of the day, you need to do what's best for yourself. Your coworkers will never hold the things that you want to achieve in their priorities. If you see this being beneficial to you and you can afford to do it, I 100% recommend just going for it.

    AUD - 59 (9/2018), 75 (10/2018)

    BEC - 83 (5/2019)

    FAR - 73 (2/2019), 75 (4/2019)

    REG - 58 (2/2017), 84 (7/2018)

    #2370030

    mtlgemini
    Participant

    I am not in the exact situation, but I quit to be able to allocate more time for studying. I had tried once before and failed REG right before tax season. I knew I wasn't going to be able to study during tax season and more responsibilities just kept being added to my workload after tax season. I decided that I needed to just worry about myself before anyone else. So, after things settled down towards the end of the year, I put in my notice. I don't think you should worry about the work load increasing for others. I don't think there will ever be a right time to leave a job if we prioritized this concern. At the end of the day, you need to do what's best for yourself. Your coworkers will never hold the things that you want to achieve in their priorities. If you see this being beneficial to you and you can afford to do it, I 100% recommend just going for it.

    AUD - 59 (9/2018), 75 (10/2018)

    BEC - 83 (5/2019)

    FAR - 73 (2/2019), 75 (4/2019)

    REG - 58 (2/2017), 84 (7/2018)

Viewing 18 posts - 1 through 18 (of 18 total)

You must be logged in to reply to this topic.


Would You Hate It If I Gave You $162.12 Of Free CPA Review Material That Will Help You…

1) Study Less

2) Avoid Common CPA Candidate Mistakes

3) Get Higher Scores

4) Spend More Time with Friends and Family

5) Finally Pass and Get On With Your Life?