Quote:
Originally Posted by Athletics00
I know I need 24 accounting credit hours and 150 total credits.
If I wanted to pursue the CPA, what would be the recommended way to do it?
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I am a CPA. Here's how I did it. I had an undergrad in liberal arts; I graduated in 2005. Somehow - through a bit of working my way up, elbow grease, and networking - I managed to obtain a position in 2006 as an accountant at a large university. I went back and completed graduate work in accounting in order to meet the state CPA license requirements. I did this while employed - so school was a part-time affair, and it took a couple of years. After completing the program, I enrolled in the RogerCPA review course, and passed all four sections on the first attempt (1 exam section per testing window) between August 2011 and April 2012. I am not going to lie - the CPA exam is brutal. I managed to pull of scores of 91, 92, 90, and 85 for FAR, BEC, AUD, and REG respectively. It required study for a year - I am talking giving up Saturdays to study for 8 hours, studying for 2-3 hours each day after work, etc. I have friends who have taken sections several times because they fail them (passing is 75). Scoring on the CPA exam is not done by "percentage" - it is a raw score based on the complexity of questions, relative ranking against peers in your testing group, and various other metrics and hocus-pocus thrown in by the AICPA. You might get 5 questions correct and pass, or you might get 72 questions correct and fail - there is really no way to know. The AICPA guards their scoring process like it was a nuclear launch code. There is a reason we call it the "Can't Pass Again" exam.
Getting your score was brutal also. You had to wait for weeks (even months) after the exam for the AICPA to release scores online. I hated score release days. Everyone would be online trying to get their score and it would bog down the website - ugh it was a nightmare.
For FAR and AUD you have 4 hours each. For FAR, most people have trouble finishing the 90 questions and 7 simulations - I think I was literally down to the last minute on the FAR exam. On the AUD exam I finished in about 3 hours. The BEC and REG exam have fewer questions but require 3 hours each - the REG exam is all taxation and it required all of the time I had.
If you think memorizing the IRS tax code as well as all of the numerous FASB pronouncements and all of the details on IFRS convergence, plus do a lot of detailed computations and calculations for a while - then the CPA exam is for you!
Seriously it was worth it though. Hardest thing I have ever done, and I am glad I did it.
PS: in terms of work experience, depending on your state you need 1-2 years of audit or accounting experience in public, industry, or academia. You can get it after you pass the exam in many states.