For those of you that studied for the CPA exam through busy season, today may be the day where you discover that all those extra long hours you put in – working for 10 hours, studying for 2 hours, working for 2 more hours, studying for 2 more hours – were all for naught. […]
We received a simple request over the weekend:
With CPA exam results beginning to be released, could we get a thread going on how everyone is doing?
With short months until we ring in 2011, there’s seems to be plenty of people heeding Adrienne’s advice and are looking to knock this thing out, IFRS and simulation question changes be damned.
For those of you that have been studying and working, and you managed to pass your most recent section, you should seriously consider rewarding yourself by taking an impromptu trip to Burning Man, dropping [insert mind-bending hallucinogenic of choice] just to keep that fire burning for when you return to the cube farm.
For those of you that have once suffered yet another setback, you may feel like that you’re creeping deeper into the Abyss but don’t give up! You’re not a loser for life, just in this particular instance. That being said, you’re likely in a place where you need to vent a little and since losing it on your manager/staff/client isn’t advisable, you should consider expressing yourself below.
So whatever your score is, Elijah Watts-worthy or you struggled to meet the CPA Exam Mendoza Line (we’re setting it at 50%) discuss your results. We’re here to celebrate/cry with you.
Cumulative scores under 50%? Sigh. You really packed it in at the end didn’t you? Don’t worry, we still believe in you (click to enlarge):
All this does is reinforce the idea that you need to be paying attention to what the JDA tells you every week in >75.
Discuss the past, the future, the section that is your sworn nemesis, the story about the taking your last section on the last day of the eighteenth month. Whatever you like. It’s fine if you have to cry a little bit.
NASBA has announced via Twitter that more scores have been released for the final window of the year. Bad news is that it takes 24 – 48 hours for them to post. Our recommendation would be to jump over to NASBA and spend the next 24 hours refreshing the page until it posts. Or chew your fingernails until they bleed, whatever works for you.
If you end up with an early Christmaskuh gift, please share. If you got coal, also share before you go into the corner sobbing.
Editor’s note: Welcome to latest edition of >75, our weekly post on questions that you have related to the CPA Exam. Send your questions to [email protected] and we’ll do our best to answer as many of them as possible. You can see all of the JDA’s posts for GC here and all our posts related to the CPA Exam here.
It might be the worst feeling in the world. Trust me, I know people who have gotten 17s and 24s on the exam – these are not my CPA Review students, of course, these are people who tried to go the CPA exam alone – and a 74 beats their misery any day of the week.
Nearly 99% of the candidates I talk to (I’m making that percentage up off the top of my head, mind you) who get a 74 on any part of the exam did everything they were supposed to do. They did hours of multiple choice and tons of practice simulations and even did the tutorial at cpa-exam.org before test day.
These are people who asked me very early on how they could plan their time, requested updates weeks before they were available and had me emailing 3 years’ worth of previous CPA exam questions for them to practice on. From all appearances, they did everything they were supposed to and yet got a 74, the worst possible score you can get (17 on FAR aside but we won’t talk about that mmmmmkay?).
So what do you do if you’re that person?
• Don’t bother requesting a “rescore” from the AICPA Board of Examiners: For all of 2008, not a single rescore request resulted in a candidate going from FAIL to PASS. It’s a waste of time and money and the AICPA isn’t going to admit their CBT is at all faulty (those of you who have actually taken it probably know better but we won’t talk about that either) so accept your score and move on.
• Don’t move on to a new section While you have to deal with the fact that you’re going to have to pay re-application fees to the Board and another exam fee, the best thing you can do in the case of a 70 – 74 is to go right back to that section and schedule a new exam as soon as possible. A 74 especially shows that you have an excellent command of the information, just a little more studying and you’re over that hump.
• Look at your score report: Your score report is going to give you quite a bit of insight on where you went wrong the first time. When you fail an exam part, they go so far as to tell you where you failed the worst, USE THAT! When you go back over your review materials, there’s no need to watch every single lecture video again fourteen times – just look at the report, figure out where you need more work, and do extra practice questions in those areas.
Finally, don’t beat yourself up. If this exam were easy, everyone would be a CPA.
Hot on the heels of our last post, a message from one elated reader:
I’m in Illinois and I just got my Audit score when I logged in this morning. (it was my final section and it was a pass so I’m done!!!!!!!!!!!!!!)
Now get on that ethics exam! The results rolled out yesterday afternoon, so discuss your results in the comments. Pass, fail, whatever.
The CPA Exam is apparently changing, whether you like it or not.
More, after the jump
The American Institute of CPAs has scheduled Jan. 1, 2011 as the official launch date of CBT-e, a more technologically modern version of the Uniform CPA Examination…CBT-e, short for Computer-Based Testing evolution, will also update the content of the Uniform CPA Exam. The exam will include new content and skill specification outlines, including questions about International Financial Reporting Standards…Also starting on Jan. 1, 2011, new authoritative literature will be released based on the FASB Codification of accounting standards and a new research task format will be introduced on the CPA Examination.
Considering this is over a year off, these changes should not be of concern for most of you but considering some of the scores we’ve seen for this year and pretty much everyone seems to be ignoring the new Codification, maybe some of you should be worried.
We got a request to start a thread on the CPA exam results being totally MIA. The last thread seemed to indicate that results were slow to come out but here we are a month later and some of you took your exam(s) back in July.
So what the hell, NASBA? People can’t sleep at night. Get with the program!
Discuss your anxiety in the comments or if you’ve got your scores, just tell us you got between 75 and 79. Anything higher and you might has well be one of those Elijah Watts rocket-scientists.
Received notice from a reader that CPA Exam results are available for the most recent window. So if you took the CPA Exam at the beginning or middle of July, check your state’s board of examiners’ website and share the good news or your tale of woe in the comments.
Also feel free to discuss your affinity (or lack thereof) for Peter Olinto and Tim Gearty in helping you on your quest.