This guide outlines the 7 key strategies you can use to guarantee success in your CPA exam.
Many professionals entering the accounting profession are curious whether it’s worth dedicating time and energy to sit for a CPA exam. The truth is passing the CPA certification exam has various benefits for accountants. Aspiring candidates must earn at least a bachelor’s degree in accounting or a similar field to be eligible for the CPA exam.
Certified Public Accountant (CPA) is one of the most highly-valued certification exams in the world of accounting. Becoming a CPA can open doors to various job opportunities and help them earn higher salaries. In addition, since CPA professionals are high in demand, they can enjoy many benefits other than high salaries, such as flexible work hours.
To summarize, the CPA exam comprises four sections: Financial Accounting and Reporting (FAR), Business Environment and Concepts (BEC), Auditing and Attestation (AUD), and Regulation (REG). Although the total testing time is 16 hours, candidates have 4 hours to complete each section. Therefore, no wonder studying and passing the CPA exam is no joke. Are you preparing for the first time for the CPA examination?
CPA exam tips
Don’t get overwhelmed. Instead, adopt the below tried and tested killer study tips to ace the exam and get your dream job as an accountant:
Choose the right CPA review course
So you have made up your mind to attempt the CPA exam. Your next step must be to start preparing for the exam. But how and where do you start? Well, you can begin your preparations by signing up for a CPA review course. Choosing the review course that best aligns with your study goals and learning style is advisable. The best CPA review course can increase your chances of acing the exam on the first attempt. Thus, consider Wiley CPA Review, which offers online study materials, practice questions and simulations, one-on-one mentoring, and 24/7 customer support.
Make a plan
You might be thinking, who has the time to sit down and pencil down the study plan when you have to give a tough exam of your career, right? However, your success significantly depends on your planning. Start by determining how much time you have before appearing for your final CPA exam. Then, jot down what other personal and professional obligations you have? Answers to these questions can help you establish a viable plan. Finally, make sure to employ the SMART technique to devise your strategy. Having a realistic goal can help you avoid wasting your time and energy. Moreover, it’s imperative to stick to your defined plan to ensure success.
Identify your learning style
Let’s be honest; every student has a different learning style. Thus, if you wish to pass the CPA exam on your first try, it’s best to learn your learning style. Categorically, there are three common types of learners – auditory, visionary, and kinesthetic learners. Auditory learners are the ones who learn by what they hear. Audio notes are perfect for these types of learners. Individuals with a visionary learning style can learn by seeing or viewing. Textbooks and watching tutorials can come in handy for these types of learners. In contrast, kinesthetic learners can learn from the experiences. Thus, learning through flashcards can be a helpful method for these learners.
Manage your time effectively
When it comes to preparing for the biggest things in your life, such as the CPA exam, time management is the key to success. Of course, you desire to ace your exam with good marks, so setting priorities straight is necessary. Thus, manage your daily schedule. For instance, if you are a working professional and have a family, try to set some hours of your day to study only and stick to it. You can devote a few hours a week to studying. However, make sure not to sit for too long studying. After all, the human brain can absorb only limited information; after that, you will start losing focus. Moreover, before setting time for studying, determine when you are more productive. For example, some people are more productive during the morning than at night.
Set up a quiet study space
What’s the purpose of devoting a few hours a day to studying for your exam if you can’t avoid distractions? Picture this, you have decided to cover a particular topic in your set time, and you are studying hard. But halfway through it, you got a call from your friend, or your phone notified you about a certain work email. Or maybe your family member came into your room to discuss something. Things like these can make you lose your concentration, which would waste your precious time. Therefore, create a quiet and peaceful study atmosphere to concentrate fully on your studies. That means decluttering your study room or table of all unnecessary items.
Find a CPA partner or mentor
The best way to conquer the CPA exam is by seeking help. Some students don’t have a habit of studying alone. If you are one of them, don’t worry. Instead, find yourself a study partner who will appear in the CPA exam. You and your study partner can set goals and strive to achieve them. Having a study partner can motivate you whenever you feel lazy or overconfident. You can also contact someone who has already passed the CPA exam by joining groups on social media channels. Since seniors know CPA is pretty tough, they are more likely to help you if you need any assistance willingly. You can go a step further and find yourself a mentor who can offer you meaningful advice and resources to help you better prepare for your exam.
Tak care of your health
Surely, you don’t wish to appear on your CPA exam with a tired brain. All your hard work will fall by the wayside if your brain doesn’t work correctly at the time of the final exam. Therefore, taking care of your physical and mental health is crucial. You might be considering staying up late to study and eating less due to stress or pressure. However, these unhealthy habits can adversely affect your brain. Therefore, make sure to get 8-hours of good-quality sleep each night and consume nutritious foods. Don’t forget to do physical exertion daily to keep your mind focused.
Key takeaways
Undeniably, passing the CPA exam on the first try is a tough job. But the good news is with solid study planning and incorporating these tips, you can do it! Remember, you can only prepare the best way for the exam by full dedication and commitment. And while you must stay positive with your preparations. But don’t forget to keep in mind that failure is a part of life but not the end of the world. Sometimes, some unfortunate incidents happen, no matter how hard you work. So instead of feeling upset or anxious, focus on what you can control and adopt flexibility.
Also read: Accountancy marketing for woman owned CPA firms: 7 smart tactics
