I doesn’t happen all the time, but sometimes there really is something good for free. Today, the find of the day is free CPA exam review! Yes, you do have to sign up, but you can opt out of the additional emails from them. It covers all parts of the exam and you can drill down to your weaknesses. My only argument is that there is no diagnostic to determine what areas you’re weak on.
Due to having a lot going on, I’ve decided to take Sundays off from posting until further notice. Have a good weekend!
So here I’ve been studying for the CPA exam. I was assured that I don’t want to over-study, especially since I took 3 sections within three weeks of each other. My scores? (Keep in mind that a 75 is passing.) BEC: 76
AUD: 74
FAR: 72
So close! This is really frustrating since I got a 74 the last time around on BEC. (I know, TWO 74s!) I passed the tax section, REG, over a year ago with no studying. What does this tell me? The obvious–I should stick with what I like and focus on taxes!
In the last few weeks I’ve participated in the Susan G. Komen Breast Cancer 3-day walk and attended the IRS Tax Forum in Las Vegas. Sorry blogging has been light–I hope to rectify the situation soon.
I came across this site. I love the recently released CPA exam questions. Those are pretty neat–and remember, no where does it say those questions are retired–study them because you never know!
I’ll admit, I took this section before. I needed a 75 to pass and got a 74. What a bummer! Darn that Financial Management–it was the only component that I missed getting a passing score on. Here’s how BEC (Business Enviornments and Concepts) breaks down:
Business Structures: 17-23%
Financial Management: 17-23%
Information Technology: 22-28%
Planning and Measurement: 22-28%
Economics: 8-12%
I did really well in the IT component of the exam, which proves that I actually listen to my husband when he discusses his work. I took this a week ago, and unlike the last time, when I felt really confident, now I have to admit, I wouldn’t be surprised if I passed or didn’t. Results will be out in about 6 weeks.
Posting will most likely be higher than normal–I’m trying to study for the Auditing section of the CPA exam and find myself wanting to do anything other than study.
Luckily, I have Bisk software and DVDs to keep me company as well as a Becker book. I think overall, Becker is more comprehensive, but Bisk throws in random tidbits that will probably help me pass. On that note, this is how the Auditing exam breaks down:
Communications is the audit letters, letters to underwriters, review and attestation letters. It was my worst section last time I took the exam. I actually think that failing to memorize things in this component is why I missed it. Well, that and the average passing score being an 81%, which they scaled down to a 75%…so, yes, my score was scaled down by 6 points…that would have allowed me to pass. Talk about disappointment.
A trip to New Hampshire was in order to be there when my childhood friend took the leap and was ordained a Roman Catholic priest. It was a fun weekend with festivities on Saturday and Sunday.
While we were there, Mike and I were having drinks at a bar in Manchester and sat next to these two women. Somehow, we started chatting…lo and behold, one of them was an accountant. I let her know that I’m a tax accountant and her comment was, “Gosh, that’s what I’ve always wanted to do.”
I asked her why she hadn’t done it, since she’s already in accounting, and she said that it’s too difficult to break into taxes. I disagree…while it might not be lucrative at first, there are plenty of ways to “get into taxes.” If you go to a CPA firm with some previous experience, there’s a possibility that you could work there. Don’t have that? Try taking Block’s 6-week prep class. If you pass the test at the end of the class, have a decent overall score in the class and meet the attendance requirements (can’t miss more than 2 days, I think it was) they’ll interview you and possibly extend employment. The hours required here are only 15 hours per week with an option to leave after six weeks and not stay the whole season. The pay? Well, beginning pay is ever-so-slightly over minimum wage, but there is a potential for a bonus. However, if you’re really counting on a bonus, you might want to know that the year I started at Block, after preparing over 450 tax returns for that year, I was one of only two first-year preparers who received a bonus in my district.
In other words, don’t count on the bonus…but at least it’s a way to get into taxes even if you have a full-time job.