/r/CPA
The subreddit for CPA Candidates
Certified Public Accountant (CPA) Come here if you are looking for guidance to becoming a CPA. Study material suggestions, study tips, clarification on study topics, as well as score release threads. Tags: Certification, Accounts, Tax, Study, Help, Group
Certified Public Accountant or CPA is the title of qualified accountants in numerous countries in the English-speaking world. Wikipedia
CPA - We have either been through it, or are currently going through the study and CPA licensing process...
Useful Posts
AUD, REG, BEC Study Guides - SUPER HELPFUL
Passed 4/4 on First Try - Some insights I'd like to share - by u/informal detail
Help! I have ____ exam coming up in "short time frame". What do I do / What should I study!
Before you post, let me search that for you (sort=Recent):
Please try to post complete questions or thoughts in the post title if possible. Please do not use a clickbait title when posting.
Do not disclose exam content and do no ask “What was on your exam?”, if you do your post will be removed and you may be permanently removed from this subreddit. The AICPA has a published breakdown of topics by section and percentages of each exam. Use that. Quick Guide
This is not a study material marketplace. Posts trying to sell study material will be removed. Also, posts soliciting pirated study material will result in a ban.
Please respect everyone here. There are no stupid questions.
General accounting, audit, and tax related questions may find more help is in the /r/Accounting subreddit.
-Related:
/r/CPA
Has anyone taken a test recently at the Prometric megacenter in nyc? I scheduled a test here and now am seeing that it's temporarily closed due to a flood. Not sure why they let me book there! Please advise :)
Tested for FAR today. One word:horrible. Mcqs seemed easier than Becker for the most part. But SIMS were wayyyyy harder than Becker I only used Becker and felt very unprepared when it came to SIMS. Rushed through the last SIM test let due to almost every single SIM having about 5-8 exhibits. Share miracle stories so I can have some hope :)
Taking Reg in a couple weeks as my first test. Every once in awhile I come across an MCQ on a section that just doesn't make any sense. For the most part, I take time and try to grasp every concept but there's a handful where I just look at what I got wrong, read the response, go back and read the book, watch the lecture, everything, and I just have no idea what in the hell the question is asking. Anyone else just try to solidly understand 90% of it and just say screw it on a few things? Maybe I need a reality check because aiming for perfection on this is just ridiculous.
I thought REG would be my weakest subject but FAR is hands down my worst so far. I’m through F5 in Becker and only have NFP/governmental to get through before starting review. I don’t think I’ve hit 80% in MCQ on the first go round in a single module yet.
I really wish they would break FAR into 2 smaller exams and allow people to focus on fewer things at once. I digress.
My exam is 12/23. I’ve been working full time but have a couple weeks off work coming up that I’ll be reviewing full time. I’m sure others out there have felt the same, but could use some tips/encouragement! I know I’ll never feel truly ready, but this is my last exam and right now it’s the only one I’ve been this unsure about.
This whole SubReddit, we see review of Michelle moshe, Pete olinto, tim, etc… BUT NEVER THE TRUE GOAT… BROWN
Continue this thread to give your support…
By any chance is there a resource that explicitly states what pages were impacted for the AUD update. As of now, it only shows the topics added and that they're scattered throughout the text which is rather annoying.
TLDR:How to get 2000 hours of experience while already having a unrelated job?
I am currently a Manager of Performance Improvement at a in state health plan. I'm currently getting the 30 hours of courses required from my state, and am fine studying for the exam. The one issue I'm hung up on is the year of experience related to accounting/tax/audit. My state of NM doesn't have clear definitions on what that experience is, but with the requirement being 2000 hrs I'm having difficulty on planning to get those. My initial thought was getting a remote entry level position, but those seem rare. It would be difficult to give up my current job currently so may have to be in tandem. Any ideas? I am the primary breadwinner, at approx. 98k. It would be near impossible to leave it to take a entry level by itself.
Planning on taking REG January 3rd since I can’t get any available prometric centers for EOY. I’m gonna be taking TCP before deadline of January 31st no matter what I kind of just wanna know how doable it is. I’m studying full time and know TCP only has 4 units but not sure how extensive it is.
How many weeks u guys think is enough for TCP studying full time?
I felt lost in MCQ and confused in SIMs. I used Surgent and Uworld’s MCQ bank and there are plenty of question that i feel they didn’t cover. Fingers crossed until Jan 29
Disclaimer: my reality doesn’t have to be compare with others reality, I’ve studied almost 100hrs but not putting too much effort in it.
In every MCQ I've had before this, in the lectures, and in the textbook (right) I have to reduce the contribution received by the FV of the premiums given to arrive at contribution revenue.
According to the solution to the question (left), "Generally the difference between the fair value of dues or other purchases and the amount transferred is classified as a contribution. When, however, the contributions relate to a major ongoing portion of the operation of the organization, the contribution revenues are displayed gross and the cost of the premium is displayed as fund-raising expense."
So, do I only show the contributions gross in the very particular situation when the contribution is designated for the (key words) mIsSiOn oF tHe OrGaNiZaTiOn, and show the contributions net of the premiums in all other situations? I also don't understand why the textbook seems to say that premiums are both an expense (first and second paragraphs) and a reduction of revenue (paragraph 3 and passkey). If the real exam questions are actually going to be this niche... I might be cooked like a turkey on Thanksgiving.
Knowing my luck, I'd see a question similar to this on the exam, so any insight or context into this topic would be appreciated, thanks!
My 1 year anniversary at the firm is 2 weeks before my birthday. I started during busy season so I'll definitely be past 2000 hours by 1 year, but I will have taken 3 weeks PTO. If I ask him to sign on the 1 year anniversary he'll do it. There doesn't seem to be anything on the form that precludes me asking on the 1 year. Those in FL how long after sending the app did it take to get your license in the mail?
The 510000 should be cash receive, not the liability need to be paid!
I feel like the final review in Becker for FAR is not worth my time and I should just review the material on my own terms. Thoughts?
Has anyone got ATT recently? How long did it take??
So I started studying for FAR. This would be my first test. I started studying during the last week of October and right now I made it to F5. My exam is scheduled in two weeks. The thing is, I wake up every day thinking I am going to fail. When I do MCQs, I struggle at first, which means I never get 80%, but on the second round I get above 80%. I have done alright on practice tests. I usually hit the 80% or get around 70% and retake it until I get 80%. The first mini exam I got below 80% (I use the random feature). Then hit the 80%. Second mini exam, I did hit the 80%.
I then started noticing that I am forgetting some topics. This is when my negativity got worse. Last week I started with F5 and I am struggling here. It is like I am memorizing F5 and not actually learning the meaning of it. I got in my head and I skipped 4 days last week, which have put me behind. I cannot reschedule because my NTS is expiring soon after my scheduled test. I see people passing their tests, and I tell myself that I can do this. It is like I don't want to give up, but my head is telling me otherwise.
I work full-time in public accounting. What should I do, cancel and take it again before spring busy season hits next year? Or take it as scheduled and then plan for a retake before busy season? Another option would be to start over after busy season. I feel like I have put a lot of time and money into this, which made me feel lost to the point that I have asked myself if I made the right career choice. Any constructive criticism is appreciated
For people who have taken FAR, how was it for you? I’m seeing mixed feelings and I’m getting nervous for my exam. Just reviewing as much as possible!
Do we need to memorize all formulas? They are killing me.
How long did those who are cpa firm owners worked for before going on their own ?
So life happened and I took REG the other week even though I had barely studied, because my NTS was going to expire. I know for certain I will need to retake after my score comes out next year. Definitely really disappointed with myself.
I’ve been toying with the idea of switching to FAR even though it has the lowest pass rate. I’m currently working as an accounting assistant and looking for staff accountant roles in industry until I have better luck getting into public. While REG was completely foreign to me since I’ve never worked in tax, I’ve at least been exposed to some of the stuff on the FAR exam, and if it would even improve my chances of landing a staff role a tiny bit I think it might breathe new life into my CPA journey.
Would it be a bad idea to switch to FAR rather than restudying for REG? For reference I’m using a combination of Ninja CPA, Universal CPA, and my friends Becker textbooks.
Edit: I want to add that I will be working part time for the next month or two and so this will be a unique opportunity to devote more time to whichever section I decide to go with. After that it’ll be studying while working full time :/
Hey, are the sims that Becker provide similar to the ones on the actual exam??
I have decided to finally knock out my CPA certification. I've worked mostly in industy and branched out into Finance, Commerce, and General Management over my career but I'm looking at a few jobs that just want a CPA because Brondo has what plants need. I took the exam 20 years ago as a recent grad at the request of my then employer, even though I explained the transition to 150 hours would make it meaningless as it would expire before I could go get the additional hours. Boss wanted me to take it anyway and I scored above 90 on all 4 parts with a couple weeks prep. However, that was 20 years ago and I know the material and sections have changed and there is the fog of time.
I don't want to spend a ton on a program intended for recent grads that goes into depth on every little thing. Something equivalent to back in the day when you bought a $40 study guide at the book store. Any recommendations on online resources? Print is OK too but prefer online. Thanks in advance.
I have FAR tomorrow, and Prometric called to tell me to be there 2-3 hours early and said I can't arrive any later than 2 hours early. Is this common? This seems super early!
Edit- In case anyone is confused by my wording, my appt is at 8am, They're telling me to arrive between 5-6 AM and don't get there any later than 6.
Just took FAR and feel absolutely crushed. I spent 140 hours for this exam with 100 being practice tests and I felt that i had to guess on most questions. This is my first exam so idk what to feel but whatever, moving on to another section and will probably retake it last. This exam is just insane to me, some of the sims were crazy lol. Feels like $300 down the drain and the past few months studying.
Did/will you receive a CPA exam passing bonus if you pass the exam before you can apply for licensure. Example, someone who just graduated with 150 hours passes the exam but you don't meet the experience requirement, would your firm still give you the passing bonus. I'm kind of in a unique situation and have already passed the exam and finish my master's this month, but will not meet the experience requirement for a while. Thanks!!!!
I took a FAR "Practice Exam" on UWorld today and need help making sense of my score, so that I know what topics to spend more time on. I know my scores on each testlet, but how do those translate to what the actual Exam is scored by?
Does anyone know?
Here are some acronyms I’ve used for reg, which are topics Becker did not provide acronyms for. It’s a little messy and contains some small notes about some of the letters, but these have allowed me to dominate MCQs and Sims
This is off topic, but do you think the current instructor with the knowledge they have now could score a 99 on each of the CPA exam they teach? Example can Peter/Mike/Josh/Mike Po take the exam and walk out getting the award?
Been studying for what feels like forever. I don’t think I’ve studied this hard for anything in my life omg. Manifesting good results and for hard work to pay off!
Best of luck to everyone testing in the coming months, we’ve got this!! <3
Edit: just got out! I had 30 mins to spare bc I think I rushed the MCQ a bit. Also had a lot of cash flows questions for some reason?? Overall feeling better than I thought I would be! Hopefully I’m rid of FAR forever 🥹