Becoming a CPA

[scrilla]

Hello all,

I was just wondering if anyone here is a CPA and if so how difficult the testing etc for it is.

I am in California and have taken the Cali. real estate licensee test and it was cake...just wondering how the CPA test compares.

I am sure it is a lot harder but just wondering...please don't flame me for my ignorance on this!

Scrilla

[broiler]

I will assume that you have the educational background to sit for the exam since you asked the question. The pass rate for any section in NY is 25-30% based on the latest batch of numbers that I saw published.

The CPA exam became much easier when the paper and pencil test taking method went away. Most states dropped requirements that you had to pass multiple sections in order to have any section count.

The computer test randomly selects questions for you based upon certain criteria which can make your exam for any section range from fairly easy to nearly impossible to pass. You still need to study, but there is an element of luck to the exam.

There is also a slight advantage to taking the exam at the end of a testing window. The topics tested on any section in a given window are very similar from exam to exam, so knowing someone who takes the exam early in a testing window can improve your chances of passing.

I passed the exam in the paper and pencil days, so all of the information here is from the various staff people in my office that are working their way through the sections of the exam.

[scrilla]

Broiler,

Thanks for the detailed info!

What do you think the average time commitment to study for and pass the test is?

Also for the real estate test I took an online course that basically was a bunch of questions (about 2000 of them) that was the question pool for the actual test.

I am assuming there is nothing similar to this for the CPA exam?

Thanks again!
Scrilla

[broiler]

I would say that study times vary based upon how well you remember the topics from college. When I took the exam, I studied about 15 hours/week for the month before taking all 4 sections over 2 days. I know that the staff here have been about 15-20 hours/week to take one section. I believe that the exam recommends 100+ hours per section, which seems ridiculously high from anyone that I've talked to.

Becker Convisor offers online courses and questions, but those are excessively expensive, in my opinion. These classes have also been substantially less effective since the exam changed to the computer format. For instance, the first Regulation courses after the switch stated that SEC questions would not be on the exam. People were shocked to find out that it was still at least 10% of the section.

I used review books that were published by Wiley, which some of the staff here have been using. I believe that these books are available on Amazon for less than $100 per section. These books have outlines and many old questions for each section of the exam. People that use the books around here say that about 10% of the questions are recycled from the books, which is pretty high considering that the exam people will tell you that all of these questions have been taken out of the pool.

[Big TR]

I passed the test during my senior year in college using the old paper and pencil method. Up until 2 1/2 weeks before the test, I was inundated with busy season. I studied probably between 5-10 hours per week for a couple of months leading up to the exam, then took off work to study for the entire 2 1/2 weeks between April 15th and the test date in early May.

If you can study on your own, get the books and avoid the review courses. If you need to sit in a classroom to learn, the review will be money well spent.

One recommendation: In '99 when I took the exam, the Wiley books I used had a breakdown of the number of questions asked as a percentage of the test. I used this section religiously to pinpoint my studies. If a certain set of topics only had 1-2 questions on it in the law section, I'd blow it off.

I was a pretty good student and had a good grasp of most of the subject matter, so my study times are probably below the norm. I passed all 4 parts the first shot with scores in the 80's and 90's. (Some, like me, would say this means I studied too hard since I only needed 75's to pass).

To give you opposing viewpoints, one roommate probably studied 20 hours/week for several months and was the gold medalist with two 99's and two 98's. Another studied 2-5 hours per week and only passed two sections.

[CardMinger]

Does anyone happen to know if after you pass the tests etc you need to have some work experience.

Or is it just if you pass all the tests then you are considered a full fledged CPA?

Thanks!
CM

[broiler]

The best answer that I can give you is that it depends upon the state as each state has different requirements. In NY, the work requirements are 2 years of work experience with at least 75% of that time working on audits. However, the 2 years is reduced to 1, if you meet the 150 credit hours requirements. NY is one of 2 remaining states that doesn't require 150 credit hours to either sit for the exam or receive a license.

I believe that all states have added work experience requirements to become a CPA. When I was in college(10 years ago), we were told that a couple of states did not have work experience requirements at that time. I can't easily verify that statement at this time.

The easist way to find out the requirements in your state is to check the websites for the state's CPA society or the state's Department of Education (or whatever department regulates licenses in your state).

[btmagnetw]

texas requires 150 course hours and no work experience.

[nineinchal]

Why waste your life in an accounting office? Especially, when you are young. If you have another choice, choose any other profession. Your first few years, most firms require about 60 to 75 hours a week, leaving one hour for poker.

That's another thing, if you do gamble, I wouldn't disuss it on the job.

If I had to do it over again, I wouldn't have chosen accounting.

Nineinchal, CPA

[confusedandlost]

[ QUOTE ]


If I had to do it over again, I wouldn't have chosen accounting.

Nineinchal, CPA

[/ QUOTE ]

Why not? and does anyone know if you have to major in accounting in order to be an accountant.