CPA Reviewed – Podcast #8

14 Oct 2011


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CPA Reviewed Podcast #8 Questions:

    1. Amy: I just passed my final section of the exam thanks to your NINJA notes and the Wiley test bank! I was just looking for some input or advice that you have for what I should do next.I am currently a staff accountant at a privately held company. My direct supervisor is not a CPA, the CFO is an inactive CPA, and the CEO is an active CPA. I work with the CFO every day and the CEO occasionally. Ultimately a lot of my work is reviewed and used by the CEO. I am hoping this could count towards my two years of experience that is required in PA; however, I have a feeling it won't. I contacted the PA board of Accountancy to get their input, but haven't heard back yet.My next problem is I do not have auditing/attest experience. I live in a small town and CPA firms are very minimal here. I will most likely need to change jobs and move or commute to a neighboring city for auditing experience.My main question is what should I do next? I've passed the exam, but do not have the experience required to become licensed. Can I submit anything to my state board to get the licensure process started? Or do I wait until I have completed the experience? Luckily, I have ten years to complete the experience requirement, I'm just anxious to get licensed since I finally passed!
    2. Ayanna: Just wanted to know since you have been here before your advice. I am currently restudying Audit getting ready to take it for a 3rd time.  My previous scores were 62 and 66. I am not pleased with my review course considering my investment in it. I have the Wiley test bank and textbook. I'm thinking about not using the review course at all this time around and just hitting questions hard. I have the exam scheduled for 11/5 and may push it up if I can find a slot. My review course promise expires and at the close of this November window and I am only planning on taking AUD and REG this testing window. Do you think doing strictly questions and only reading the 2 areas in which I was weak is a good method or do you suggest purchasing another course even though my funds are tight? I have taken all the others parts once before and score a 69 on my first attempt with REG. Your great advice is greatly appreciated.


    1. Jenny: I didn't pass FAR in the July/August Window (missed by 1 point!). I have scheduled Audit and Reg in Oct/Nov window. Would you recommend me to take FAR on top of the two sections that I have scheduled?


    1. Emily: After passing all four sections of the Uniform CPA Exam, roughly how long must I wait before receiving acknowledgement from my State Board (Kansas) as well as information on the AICPA Ethics Exam? How long do I have after passing the Uniform CPA Exam to obtain my years of experience in accounting?


    1. Monica: I am having a hard time deciding which review course to use. I'm wiling to buy the programs in parts from different companies. Can you please give me some advice if you can on which programs to use? I'm also a bit stressed over the fact that if I buy the programs now, I would have to buy new material when it comes out in December. My plan is to start with Financial but I won't sit for my first exam till Jan or Feb of 2012.


    1. Valerie: I enjoyed reading your story on Another 71 and am very encouraged by it. I just got my Regulation score back, and did not pass. What study course should I use?


    1. Anonymous: I purchased the Wiley software for Regulation to practice the multiple choice and simulations. I am currently working many hours at a Big 4 accounting firm. I am scheduled to take Audit in October, BEC in November, and FARE in February. Do you have any suggestions on how I can pass Regulation and suggestions as to when I should take it, hopefully before “Busy Season”.


    1. Todd: Great inspirational video you posted. In your opinion, on passing the CPA test, what percent relies on a certain review course and what percent relies on just wanting it bad enough like the video told us?


    1. Bryan: I am a CPA candidate in GA. I hope to have the test passed in January 2012. I have 2 1/2 years of continuous experience with a company in the tax department under an active CPA. However, I am about to leave this October 2011 to become an executive recruiter, which means no more accounting for me. Let's say I pass in January 2012 and apply for my CPA in April 2012. Will my 2 1/2 years of experience still qualify me even though I would not be working in an accounting role for 6 months?


    1. Greg: I'm 21 and a senior at CCSU in Connecticut. I’m an accounting major and I want to pursue my CPA. My question for you is that as a Senior in college, am I better off staying an extra year and completing the 150 credits needed to become a certified CPA? Or should I graduate this May, look for a job in the accounting field in order to get experience, and later on go and take the exam and complete the extra year of school at some point?


    1. Chana: I've taken AUD four times in the past two years scoring 66, 55, 72 and 69. I am looking for a tutoring service that can provide a tutor to work privately with me so that I can pass this time and not loose another test credit. I noticed that the big review courses don't offer that. Do you know of any reputable services that offer one-on-one tutoring?


    1. Lisa: Based on your experience, in what order should you take the exams? Is it wise to buy the review before the Illinois Board's approval? In your opinion, how important is to have video lectures from your review course?


    1. Ashley: I have just recently started studying for the CPA exam with my first exam (FAR) on the 26th of October. I have applied for FAR and AUD in Washington state and my husband just asked me today if I would want to relocate to Oregon because a position opened up there. I am seriously considering it, but I am worried about what will happen if I take two tests in Washington before we move. What happens then? Will I have to retake all of them in Oregon?


    1. Casey: Any advice or techniques for people that require A LOT of sleep. I am currently following the Early Lunch Late plan and wake up at 5:30 and study for an hour. This seems to be my most focused time. Then I study at lunch for an hour. I get home a little after 5 and depending on what is for dinner, I will study while eating or won't get started again till 6ish. As soon as its about 7:30-8 I am ready to hit the sheets! I don't know if its beneficial to push through it. Will this time be effective study time or will I be too worried about going to bed? Any tips/advice???


  1. Daniel: I understand the AICPA has implied that Law Task Based Simulations are fair game with regard to Regulation. The review course I am using covers a TBS for most Law modules but it just seems like so much information to retain. Have you heard of Law being tested in TBS format? Do you recommend allocating as much time to Law TBS examples as I would with Tax TBSs?

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