If you’ve been paying attention, you already know that as is, research isn’t very important and if you’re running out of time on a simulation you should completely ignore it. It might be worth a point and let’s be real about it, no one uses it unless they need words for a written communication. Shame on you guys.
Starting January 1, 2011, however, you’re going to have to start giving a shit about the research. I know, lame. They want you to know how to search the code because that’s what you have to look forward to once you get those three letters after your name. Awesome, right? Figure it out.
Research problems will make up one simlet tab in REG, AUD and FAR. FAR and REG are fairly easy in that you only have three databases to search through; in REG, you’ll have to look through the Internal Revenue Code and Tax Services code while in FAR you only have the ASCs to worry about. AUD, however, is littered with 10 different sets of code so you better get familiar with research by A) using the research problems you already have in CPA review textbooks and software and B) playing with the actual functionality of the 2011 CPA exam format if you are sitting for the first time after January 1.
For those sitting for the first time in this coming window, you’ll still have the old research format (unless the AICPA Board of Examiners is trying out their new simlets one last time as pretest questions before the CBT-e beast goes live next year) so you can always feel welcome to ignore it if you are halfway through your simulation with only a quarter of it bubbled in. You can still find that tutorial on the AICPA’s website as well and it is advised that you try it out before you show up at Prometric and waste a bunch of time figuring out how to work the controls. It’s fairly straight-forward but you might as well give it a test drive as you can’t waste 5 minutes to pee let alone try to puzzle your way through an unfamiliar exam format.
I hope to hear that all of you blow research off all the way up until November 30, 2010 (you know, to show your solidarity and commitment to the collective experience of taking this damn exam)… Yes, November 30th, the day most of you are sitting for one last part. Any update on Prometric blackouts in your area? So far I’ve heard the Bay Area is getting completely booked up for the last week of November (shock) but not much else. Any of you having trouble getting in at the last possible minute or more?
This is why we always tell you to schedule early but why listen to us?
If you’d like to know something about the exam (don’t ask where the tutorial is, I just gave it to you), get in touch.
For this particular post, as much as I would love to throw my experience with CPA exam candidates and children (sometimes interchangeable, mind you) around, I’m going to do something a little bit different. Would any of you with experience in the following care to weigh in and help?
Here’s the question via a CPA Exam Club member:
I am having a baby in 2 months and wasn’t planning on taking any parts of the exam until 2011, when I will hopefully have more rested nights and energy to study. However, after starting to do research about the CPA exam I discovered all of the changes taking place in 2011 and decided that it seemed prudent to get FAR out of the way in 201and can basically devote all of my time to studying until I have the baby and after I have the baby in order to take the exam in November. I am a pretty disciplined person with good time management. I am pretty quick at getting things done. I also got a 2nd bachelors in accounting and just completed a masters in accounting as well. Do you think I am being unrealistic in my pursuit of passing FAR in 2010?
If you think I can achieve this goal, what do you advise CPA hopefuls to do in order to pass? I am very determined to try and pass on the first try and would do whatever it takes in order to do so.
First of all, I remember what being 7 months pregnant felt like and while I loved being pregnant with my son, at that point the very last thing I would have been able to do would have been to study. So my first piece of advice not just to our little CPA exam candidate friend above but all of you with family plans on the horizon is to WAIT until you have passed the CPA exam to start cranking out the tax deductions. The exam is hard enough on its own, add a career and kids into the mix (especially for Moms) and you have a recipe for disappointment. Or at least a nervous breakdown, which you probably don’t want either.
I often tell candidates to be prepared for any and every possible thing to go wrong and mess up their perfect plans along the way. For parents, it’s almost a guarantee that even our best-laid plans will somehow be ruined, delayed or otherwise compromised.
Discipline is a requirement to get through the exam but even your best intentions can’t fight the inevitable. I could barely function once my son was born (waking up every 2 hours to feed will do that to you), let alone actually do anything productive.
So my advice to you is to wait. Wait until your child is a little older (or at a minimum sleeping through the night) and hopefully you have a supportive partner who will happily babysit while you head off to live CPA review classes. I can’t tell you how many Moms I have seen in live classes, most of whom refuse to take advantage of the convenience of online, on-demand review simply because they are desperate for a break. You know it’s bad when you’d take 8 hours of government and non-profit accounting over being at home with your brood but let’s face it, this Mom thing is the world’s roughest gig.
It sounds to me like you have a plan and that’s awesome but be sure you are being realistic. It’s already almost September, meaning the last window of 2010 is close upon us and if you haven’t already made an appointment at Prometric, you might run yourself into the ground trying to squeeze FAR in (that’s if you can even get in to schedule). And let’s just say you pass (which I’m confident you will once you get off the ground) and then have the baby. What happens when motherhood takes its toll and you aren’t able to resume studying until your child is a year old and your 18 month window is fast approaching?
Enjoy these last two months, take care of yourself and bask in your baby once he or she arrives. The exam will be here waiting patiently in the meantime and by then maybe the AICPA BoE will have ironed out all the IFRS kinks or thrown out new content altogether. Trust me, the changes next year are not that big of a deal and CBT-e will actually be easier than 2010’s exam if I’m guessing correctly (I usually do). You will put in no more effort in 2011 to pass than you would have in 2010 so better to spend the energy when you actually have it instead of running yourself into the ground at a time when you need to be in fighting shape.
Hope that helps!
If you have a CPA exam question for us, get in touch and we’ll do our best to answer.
6 years after the advent of the computerized CPA exam, candidates are fairly used to simulations by now (just in time for them to change) but they can still be a source of fear and apprehension for candidates just starting out.
Let’s start with debunking some popular myths. Remember, all of this information is current to the 2010 CPA exam and will be changing in 2011. Since it doesn’t make sense to repeat myself, I’m talking about what to expect for the next two windows of 2010.
Only one simulation is graded. Only one written communication is graded but both simulations are definitely graded and there is no progressive difficulty like there is with MCQ. If your second simulation feels harder than the first, it doesn’t mean you’re doing better, it probably means you got screwed on a simulation that covers the one subject you blew off when you were studying. This will get easier next year as more, smaller “simlets” make your knowledge of a broad range of topics more vital to the scoring process than your intimate knowledge of two topics is now.
Research is an important tab. It actually isn’t. It isn’t worth too many points so if you have to save anything for last, it’s research. If you have time left over, by all means, knock yourself out.
Written communications are sometimes hand-graded for correctness. Actually they don’t care at all if you are right, you just have to address the issue you are presented with using keywords and
write good English use proper business grammar. It’s easy, you’re supposed to be doing this all the time via e-mail and if you aren’t, maybe you should start practicing. Caleb, this means you with your IDKs.
We will dig into the details onCP 2011’s new “simlets” on Friday.