The CPA exam is an essential component of a successful career in public accounting. The intense exam must be completed before an individual can be considered a certified public accountant (CPA).
The Importance of Studying for the CPA Exam
Even people who have a talent for taking tests should be aware that the CPA exam is a type of test that must involve a significant dedication of time spent studying. The exam is lengthy, costly and requires a person to display a comprehensive range of knowledge regarding accounting, business and economics.
There is no letter grade associated with the CPA exam, so a person is only able to pass or fail the exam. The passing score is 75 on all four parts of the exam. Each section is scored separately. It is possible for a person to fail an individual part of the exam and have to retake it while passing the other parts of the exam.
The Application Process
Anyone who would like to take the CPA exam should research date and time information in the local area. There will be a deadline to apply for the exam that cannot be missed.
A checklist can be useful while applying for the CPA exam. Ensure that all necessary paperwork is included in the packet that is mailed to the applicable state board of accountancy along with the payment of the application fee.
Recruiting Colleagues to Form a Study Group
Many new accountants who are working in an accounting firm find themselves meeting colleagues who are also preparing to take the CPA exam. Networking with these colleagues not only gives an individual the opportunity to form a CPA exam study group, but it may lead to professional connections that could prove useful in the future.
Some accounting firms encourage seasoned accountants to act as a mentor to new hires. These mentors are often full of information related to studying for the CPA exam, so new accountants should take advantage of any mentoring program that a firm offers.
Utilizing a Professional CPA Exam Prep Course
CPA exam prep courses offered by professionals are helpful for people who want to thoroughly understand the layout of the test and the style of the questions. These courses use past questions as examples, and most of the instructors who teach professional CPA exam prep courses have been directly involved in developing, writing, administering or scoring the CPA exam in the past.
These courses are pricey, but they do come with a guarantee that students will pass the exam as long as they have attended all of the classes and completed exam prep coursework. Anyone who does not pass the exam despite attending classes and completing assigned practice problems will be allowed to enroll in another prep course free of charge.
The CPA exam is the most difficult test a business professional will ever take, so setting aside time to study is essential to the successful completion of the exam.