Tuesday, January 26, 2010

Beginning the CPA exam...

So as many of you know, I am in the process of figuring out when I'll be taking the CPA exam. As of last week, I officially submitted my application! They're still waiting on transcripts and GMAT score reports before they process it. Once they process it (which takes 6-8 weeks somehow), they'll send me what's called a "Notice to Schedule," or NTS. The NTS allows me to actually schedule when I'll take the exam. There are 4 parts to the exam, and I can take them however/whenever I want. The only stipulations are:
1) I have to take all of the parts that I applied for (I applied for all 4 at once) within 6 months of them sending me my NTS. So, for example, if they mail out my NTS on March 15, I have until September 15th to take all 4 parts.
2) There are certain months that are banned for testing. I'm unable to take any part of the test in March, June, September, and December.

My current goal is to take one part in late April (yes, while I'm still in school... eek), one part in late May (again, still in school), one part in early July, and one part in early August. I am very nervous. This gives me about 1 month to study for each section. Especially while I'm in school, this is going to be difficult. But I really wanted to avoid trying to take it while working, considering I start with E&Y in October. I've heard it's much harder to find time and motivation to study while you're also working full-time.

So as with any big-deal exam, there are review materials available. The leading CPA exam review provider is called Becker. Their review course basically provides you with everything you could possibly need to study to pass the exam. You have three options as far as taking the review course: you can do self-study, which is what I'm opting to do, you can do like an online classroom, where you have to submit homework to your 'professors' online and they'll give you feedback, or you can physically go into a classroom and take classes from a CPA in the area. All three options cost the same.

I was Becker's campus rep at Miami, so I was actually offered the entire review course for free as compensation (I believe the review course is near $3,000). However, E&Y already offered to pay for it. So I told the Becker lady this, and she said that she'd give me their flashcards (like a $200 value) and their "Final Review" course (a $550 value) which is like a crash course you're supposed to use the last week before you take the exam instead. So essentially I am getting every product that Becker has to offer for free. Not a bad deal.

I placed my order for the materials, and the flashcards and Final Review books came today. This is the box of flashcards. There are over 1,000 flashcards. I literally laughed out loud, because my life is about to get so ridiculous.


And of course, I opened the blue cards (clearly the biggest section) and promptly dropped them all over the floor. They were numbered and in order, too. So of course my OCD kicked in and I had to re-order them all haha. Oh dear.

Anyway, so that's an update on what's pretty much the most important thing going on in my life right now. Hooray!

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