- This topic has 9 replies, 8 voices, and was last updated 6 years, 12 months ago by
.
-
Topic
-
Hello All: As some of you are aware, I was laid off a week ago from a mid-tier firm as an audit associate. I, Jimmy, am still bitter about the outcome and public accounting has left a bitter, nasty, taste in my mouth!
Furthermore, some of you know how immensely I have struggled with the CPA for years! That said, would anyone opine that I should enroll in Intermediate I & II, Auditing principles I & II and possibly Tax course at a community college or University? I searched for summer courses and found Intermediate I and II being offered; an 8 week course for both classes.
Tuition @ CC (out-of-district) = $1,500.00 for one class. Out-of-district because my local CC does not offer advanced ACCT classes. Additionally, this particular CC is a 40minute drive with tolls.
Local University tuition = $1,205.00 for one 3 credit hour class. Public institution and about a 15-minute drive.
Lastly, the Becker package will expire in 2 weeks. I have no exams scheduled due to busy season busting my behind.
Kind Regards,
Jimmy
-
Jimmy, I am new to this site so I am not familiar with your background. I'm assuming from your post that you've failed the CPA exam multiple times? I have some suggestions:
1) What do you hope to gain from taking those classes? Did you not already take them to qualify for the CPA exam?
2) The community college versus university depends almost solely on the quality of either where you are. In my town, the state university has a very well respected accounting program that pretty much keeps the university alive. However, the community college is a joke. Based on the colleges in your area, it could be a complete waste of your time and money.
3) It sounds like you are working full-time at a public accounting firm? If that is the case, the problem is likely that you do not have the capacity, willpower, or adequate time to properly prepare for the CPA exam and pass. Please don't take that personally – I know for certain I could never work full-time anywhere and pass the CPA exam, much less work for an accounting firm. So many people jump right into a full-time job because they hear this person did it in six months or that person did it in a year. The simple truth is that it's a very difficult exam. Some people, like myself, aren't superhuman and can only do so much.
I have a female friend who is married, works full-time, has two kids, and is studying and passing the CPA exam. I'm sure you have examples of others you know like this. But, there is wisdom in knowing what you are, and sometimes I think more importantly, what you are not. It's just quite possible you are trying to do something you are simply incapable of and you're none the lesser as a result. There are a ton of people who start out in public in a similar position. Some just give up and never try again.
If you have been trying for years and cannot pass, my first advice is do not give up. It is worth it in the long run. My second piece of advice is to seriously consider taking off time from your job if financially possible to devote 4-6 months to studying full-time so you can pass the exam. If you have money saved or still live at home, I strongly recommend you do this. If you have public experience and finally pass the exam, another firm will pick you up. This is especially true if you tell them you sacrificed income to commit yourself to passing.
That's my advice. Again, I don't know your personal story but your CPA experience is not uncommon. I've heard the same frustration from tons of people who just get in over their heads thinking they should be able to do the practically impossible because someone else did it. Don't beat yourself up. There's no way I could succeed in your predicament either. (Again this is assuming you are working full-time at a public accounting firm.) Good luck!
Perfect – thanks for clarifying. Being laid off sucks. Attempting to succeed once and failing sucks. Attempting to succeed for seven years and failing is insanity. There's something wrong in your approach. More questions:
1) Did you make decent grades in school?
2) How do you study best? In groups, alone, long stretches, short bursts? Do you need perfect silence with no interruptions? Do you need music or noise to distract you?
3) Did you follow the review course exactly as instructed? You mentioned Becker – how were your scores on the MCQ and the other practice sections? Did you create a study schedule with the Becker software based on your actual times available for study?
4) Are you unrealistic and deceive yourself in your self-assessment of your abilities, time available, and execution of your plan to succeed? For example, do you say that you're going to study twenty hours per week but then never actually study consistently for that amount?
5) Did you fail your first section and immediately become discouraged? Are you now convinced in your heart of hearts that you honestly cannot pass? Or are you discouraged by the actual time and effort it will take to pass so you've convinced yourself you cannot pass?
Honesty with yourself is essential here. If you can graduate with a degree in Accounting from a solid university, you can likely pass the CPA exam. There is great strength in acknowledging weakness – take a long hard look at yourself in the mirror and be honest about all this. (Whether you want to share it on here on not.) There is something in the way – fear is the usual culprit. It weighs us all down. You can do this!
- You must be logged in to reply to this topic.
