Whether you’re just starting out or already knee-deep in the CPA Exam process, remember you don’t have to tackle this alone! We rounded up tips from INCPAS members who have been there and want to share their lessons learned with you (spoiler: consistency and resilience are key).
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1) Identify your goals and set a time frame for when you want to be completed with the exams. They take an immense amount of discipline, and knowing the goals for why you want the CPA license will help you continue on your path to passing the exams.
— Ryan McMonagle, CPA, DOZ (Dauby O'Connor & Zaleski, LLC)
2) Take your exams before starting to work full time! Don’t underestimate the time commitment.
— Yaugen Karakin, EY
2.5) Stay committed and set aside enough time for studying—treat Exam prep as a full-time job.
— Nick Grote, BKD, LLP
3) You know yourself better than any CPA Exam prep software does, so study the way you learn best. For example, if you learn best from listening to lectures, make sure to spend the time doing the lectures and less time on reading the book.
Also: do not stress about how you are performing on practice questions. The goal is to learn
why you are missing the question, so take the time to review all the questions and understand why the correct answer is what it is. This goes for questions you get right as well as questions you get wrong.
— Luke Fleck, DOZ (Dauby O'Connor & Zaleski, LLC)
4) I would briefly scan the section/chapter but mostly focus on mutiple choice questions and then simulations. If there was an area I was consistently missing multiple choices or simulations on, I would read that section in detail and work through some examples. Then I would go back to multiple choices and simulations.
Taking a practice exam a day or two before was essential for me. Have a good grasp on how long each section should take so you don’t run out of time. Pace yourself well—if you know the question, answer and move on. If you don’t know, guess and move on. Spend your time and mental energy on questions you believe you can figure out.
— Russell Pitts, MSA, CMA, CLA (CliftonLarsonAllen LLP)
5) Resist the temptation to passively watch review videos or lectures—active practice and problem sets will serve you far better.
— Tyler Hardcastle, CPA, JD, Ice Miller LLP
6) Take notes while listening to the lectures. It really helps the material stick.
— Kelsey Mayer, CPA, Riney Hancock CPAs
7) Stay consistent with your studying and make sure to put at least 30 minutes in every day to stay in a study grind mindset.
— Yakov Adelfinskiy, CPA, Petrow Kane Leemhuis PC
8) Don’t memorize answers to practice questions. Try to understand the
why behind the correct answer.
— Adam Miller, CPA, Brotherhood Mutual
9) Resiliency pays off. I passed three of my exams with a baby, and I failed some until I passed. When I would fail one, I would immediately start studying that section again while the content was fresh in my mind and re-schedule the Exam. While I used Becker, sometimes it wasn’t enough so I also watched YouTube videos by Darius Clark who would explain some of the concepts in language that was easier to understand.
— Soray Miller, CPA, PwC
10) You need to sacrifice to pass this Exam. It will cost you. If you're not feeling the pain of saying “no” to other things for the sake of studying, you probably aren't putting in enough time. Look at it as an investment in your future, sowing into it now so you can reap for years to come.
This isn't to say you can't do ANYTHING you enjoy — you just have to be strategic. It's important to make sure you're still "sharpening the saw" and taking time to recharge, fill your other buckets and give yourself a rest. Just be wise about it and don't waste time on your phone when you really could be resting in a more life-giving way like going on a bike ride or getting coffee with a friend. Keeping that balance is very important and will help keep you operating at the best of your ability.
I also tried to find ways to integrate studying into the other parts of my life so it stayed exciting and stimulated other parts of my brain, helping to truly synthesize the information while still doing things I enjoyed. For instance, if I had to run an errand a couple towns over, I would bring my backpack and find a coffee shop to study in for a couple of hours afterwards. By exploring a new place, I was fulfilling the sense of adventure that so often gets neglected while studying. I found I actually remembered concepts I'd learned in these unique new places because my brain associated the change in environment with the new information. Pretty cool how our brains work! I also would invite friends to sit in a coffee shop with me and work or read while I studied. This way, we both got work done but at least got to be together when otherwise I'd have been studying and not seen them at all. I'd also listen to certain lectures while driving, or basically wherever I'd otherwise listen to a podcast. There's no reason you can't keep it exciting!
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Juliana Romano, CPA, Kruggel Lawton CPAs