CPA Reviewed – Podcast #15

21 Dec 2011


    1. Bob: If the SEC hasn’t approved IFRS, why is it on the CPA Exam?


    1. Maritza: I am struggling with BEC. I have taken it four times and failed, but I have passed every other section. My first credit expires in August 2012. I plan on taking BEC again in the January/February 2012 testing window. I’m not sure my review course is doing enough to prepare me for BEC.Can you please give me some guidance for BEC? Do you think I should I purchase a different review course? Can you recommend which one to purchase? Thank you very much for your input.


    1. Laurie: I started studying for the exam earlier this year using a combination of a review course and your NINJA Notes (love them by the way). I have passed FAR and AUD. My original plan was to study for REG next.I just looked and discovered that my review course has not yet released the 2012 study materials. Would studying with 2011 materials hurt me? Would it be better to take BEC next?


    1. Jason: I’ve heard you mention that the actual CPA exam at the testing center is a little easier in level of difficulty than the test bank software questions. Did I understand you correctly? Also, is it just me or do the Wiley Text Book questions seem a lot more difficult than the Wiley Test Bank software questions?


    1. Bob: I have the Wiley test bank of 2006-2007 for all four parts. Is it advisable to go through the questions in there for problem solving as regards the Audit section?


    1. Howard: For FAR, I know that you do one module at a time and then progress to the next module after you get between a 70-80% on a sample test of 20 multiple choice questions. But there is so much time and information that you learn between the first module & the last module. How do you prevent yourself from forgetting information before you reach the end of the last module?


    1. Melissa: I am sitting for REG on January 9, 2012. Will I be OK to study with the 2011 materials? I am also using the Wiley test bank and your NINJA notes. Should I consider supplementing with another test bank?


    1. Emily: I took a review course for FAR and studied for 6 months. I did everything that the review course said, completed all of the of MCQ's, did all simulations, reread the textbook, and completed the final exam and mock exams. I was scoring a 69% on the mock exam, so I should not be surprised that I did not pass on my first attempt. I think there may be a better review course for my next try.Do you recommend switching review courses? And should I move on and take BEC before trying FAR again?


    1. Jennifer: I just got my score on REG passed! Now, I am not sure what to take next. My job is already getting busy with year-end projection, and I am a single mom. I scheduled FAR for the beginning of February. I am not sure if that will give me enough time to study all of the material for FAR. Do you think two months is enough?


    1. Eric: For the first quarter of 2012, which sections of the CPA Exam are OK to use 2011 review videos, assuming you have the latest updates already from your 2011 review videos? Are any 2011 review videos are OK for the first 6 months of 2012, assuming you have the latest updated for 2011?


    1. Rachel: I have passed three parts of the exam, but I am stuck on Audit. I took it in November 2010 and got a 74. I got a 64 on my retake in July 2011 and another 64 in November 2011. I don't think priorities or motivation are my problem, so I think I need to switch review courses.I bought the NINJA notes and am interested in the Wiley test bank. I was wondering if the test bank you are selling is the 2012 edition.
      I have 2 more testing windows before I lose credit for FAR. Any advice you can give me would be greatly appreciated!


    1. Tom: I passed FAR, BEC and AUD and took REG in the 4th Quarter of 2011 and failed with a 68. I have two more shots at REG before I lose my first credit on May 31, 2012. I used the 2011 Wiley book + REG NINJA Guide to prepare for the exam.I think I wasted a lot of time on Business Law during my studying didn’t devote enough time to Taxes. Any tips to put me over the 75 mark? I was thinking a cram course to supplement. I am going to give myself until late February to study.


    1. Mark: Do you know what the actual procedure is for a snail mail state?


    1. Brian: I have taken Audit twice, and both times my report said I was either stronger or comparable in all areas EXCEPT for Task Based Simulations. I think I have the multiple choice down really well. However, the TBS are killing me. What advice, if any, can you offer?


    1. Jen: I have been working as an auditing staff in a non-big 4 international firm for a year and a half and am one section away from passing the CPA exam. I have been toying with the idea of becoming a tax practitioner once I'm licensed, but I'm not sure how to make the switch.I don't exactly want to start over with going back to school and doing the whole internship thing. I already have an MBA and MSA. What do you suggest?


    1. Bill: If the FAR exam has 90 multiple choice questions and 7 Sims, how many of the multiple choice and how many of the sims will be trial questions that don't count toward your score? Is there any way to tell if a question is a trial question?


    1. Nicky: I'm planning to take FAR first in May 2012. I know in January and February I will get very little studying done due to year-end workload and a transition to a new team at work. Do you think studying for four and a half months is overkill for one part? Will taking FAR first help build a foundation for the concepts in the other sections? What order should I take the remaining sections?


    1. Nia: My plan is to finish all four tests in 1 year. How much do I have to study per day with a full-time job? Which order should I take the exams?


    1. Abe: After failing REG with a 64, my performance report showed I was weaker in all of the tax areas and stronger in business law. What should I do this time around so that I come out stronger in both?


    1. Anetta: During the actual exam, how much time can I spend before the timer starts for me to write down all of the Mnemonics and formulas that I have memorized in my head? Does the four-hour clock start when I sit down at the computer, or can I write down my mnemonics before it starts?


    1. Marie: I currently have 2011study materials, and unfortunately I didn’t finish the exam this year. My study material license is still valid until next year. Is there much difference between 2011 and 2012 materials? Do I need to get 2012 materials?


    1. Anthony: I took AUD back on November 30th for the third time and scored a 58 for the second time. I had the same weaknesses and strengths as when I scored a 58 the first time. I really felt that the third time I took AUD that I “knocked the ball out of the park.” Is it possible to have identical scores and weaknesses? Did the CPA exam make a mistake with my score?


    1. Lola: I am concerned about tackling the Research Sims on the FAR exam. I practice with the Wiley Test Bank and it takes forever sometimes to find the correct answer. What technique did you use when you took the FAR exam?


    1. Pranav: My state board has refused an extension on my credit for Audit even though the need for an extension is beyond my control. The state coordinator also will not help me in my case. Is there anything I can do to make the board rethink their decision?


    1. Rakesh: Can you guide me how to use the research item in the simulations and how to get into the FASB codification?


    1. Victoria: I’m married and have 2 kids, a 4 year old and a 9 month old. I graduated with a bachelor’s this year and have been working for a few months as a tax accountant. I am planning to sit for 2 exams in the summer and 2 next November.I am extremely nervous as I hear more bad than good about the exam. What advice do you have for me to successfully pass? I am really scared that I will have to keep retaking it because I miss my kids and work full time.


    1. Bobby: What are the score release dates for the first quarter of 2012? Is there any truth to sitting in the first window and having higher passing results?


    1. Angela: I recently finished the last of my four exams. Now I am trying to get my CPA license in Massachusetts, but I need an experience letter from PwC showing I worked the 1000 hours to get a full license. When I called PwC they said there is a form that I need to send to them requesting the information and that the form is available at the Massachusetts Board of Accountancy website, but I cannot find such a form. Have you heard of this form before, and do you have any advice for cutting through the red tape?



Leave a Reply


Bob 12 years ago

Where is podcast #16? Jeff must have started busy season... Missing the pod Jeff!

Jeff - 12 years ago

I'll get on it! :)

Bob 12 years ago

Jeff, I typically let the host do his thing and I typically listen silently. However, instead of just answering questions, may I suggest you make this more entertaining by you letting us in to some real world experiences in between questions. I remember in college, I would love it when teachers went on mini rants, or past experiences about random things like administration, prior bosses, coworkers... I love the idea of a CPA exam podcast. I have listened to every podcast so far, I love it and would like to see it grow. However, it is tough to build an audience by answering the same questions worded slightly differently week after week. No matter what, I will keep listening and keep up the hard work.

Jeff - 12 years ago

I hear ya Bob...I'll try to mix in some drama :)