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CPA Exam Anyone?

Discussion in 'Off Topic' started by adamlevine, May 2, 2018.

  1. adamlevine

    adamlevine Banned

    Joined:
    May 1, 2018
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    United Stade
    CPA Exam Anyone?
    Just curious… I know I've seen some others say they did accounting. I am studying like crazy right now for the longest (hardest) section, FAR. It sucks. It's 4 accounting classes crammed into one. I'm going crazy.

    For those that might have taken it... how was it?

    And for those who are doing accounting and wanna get the CPA. Good luck. It definitely takes effort. And I don't even wanna think about how I have another 3 sections to go after this one.
     
  2. cpa

    cpa Active Member

    Joined:
    May 17, 2014
    Messages:
    2,571
    Location:
    Central Valley
    I sat for the exam in May 1976 right before graduation, and I passed all four parts out of the box. A lot has changed in the 42 years since. We only were up to SFAS 3, I believe, while most of the APB opinions were still active as well as ARB 43 (I think). We actually sat in a large room with proctors watching our every move. Some people teared up and waited the thirty minutes before they were allowed to exit the testing area.

    I am surprised that today (or perhaps it is your state) lets you take practice by itself. When I first sat you had to take a minimum of two parts unless you only needed one part to complete the exam.

    I understand that today you take the exam on a computer, and that the computer grades your answers as you answer the questions. There is some sort of logic built into the exam questions, so if a candidate shows sufficient knowledge say in inventory valuation methods, then the computer algorithm moves onto another subject like consolidated financial statements.

    When I took the exam about half the time was devoted to multiple choice questions, and the balance of the exam was actually solving problems. Some problems were fairly short and straight forward, while others were more complex and involved, like preparing--get this--The Statement of Changes in Financial Position. From scratch. No calculator.

    I was lucky. My school had two professors who not only wrote most of the accounting texts, they also helped write some exam questions. In fact all our midterm exams consisted solely of questions gleaned from prior exams. We blew through the entire intermediate accounting textbook in one semester. But things were simpler back then.

    Best of luck! Here's to 75!
     

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