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Don’t Wait at the Mailbox for Your CPA Exam Score This Year

On top of content and cosmetic changes for the CPA exam in 2011, the AICPA has pledged to deliver scores more quickly and efficiently by replacing the current random two wave system with a simple, single release during the blackout month.

Here’s how it has worked up until now: depending on when you sit for the exam, you can get your scores in either Wave 1 or Wave 2. Wave 1 includes most people who tested early in the window and Wave 2 is (supposed to be) released before or during the blackout month (that’s March, June, September and December) so you can get a new NTS and reschedule a failed part in the next window. Anyone who has waited for a score in the last few windows can tell you this system is flawed and obviously under quite a bit of pressure with increased applicant volume in recent months.

But for the first three windows on 2011, the AICPA is going to try out a new score release system that would mean those who test in January/February will receive their scores in one release in March. Apr/May will be released in June and July/Aug will be released in September. That means California applicants better hope scores come out early in the blackout so they have time to submit a reapplication and wait for a new NTS as the Board of Accountancy there has been overwhelmed with new applicants and current CPA exam candidates, with three fewer days a month to process everyone thanks to Furlough Friday. Unfortunately for them, it looks like scores will be released at the end of each blackout month.

For now, a passing score is still 75 but the AICPA plans to take data from the first window of the year as it considers changing that going forward. Better get in those exam parts while you can!

The AICPA claims that those testing in the fourth quarter can expect an accelerated release but with all these changes and fancy new tricks up the AICPA’s sleeve, I wouldn’t hold my breath.

More CPA Exam Scores Are Released for the October/November Window

Thumbnail image for fingers crossed.jpgNASBA 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.

We Continue to Wait Are No Longer Waiting for a Verdict in the Tom Petters Trial

Thumbnail image for PettersSmile.jpgIf you’re a swashbuckling industrialist like Tom Petters, you’re probably not at all worried that the jury has yet to come back with a verdict of not guilty. It’ll only be a matter of time.
However, if you’re like us, you are borderline having a panic attack waiting for the results of this trial. The jury began deliberations on November 30th and as of this writing there’s no indication that they are near a verdict.
Considering the mountain of evidence to be reviewed and some complex charges, we’re told this probably isn’t unusual but like we said, we’re anxious. The jury of Minnesota nice is obviously taking their civic duty seriously. We can admire that.
In related news, Palm Beach Finance Partners, L.P. declared bankruptcy yesterday, saying that they lost more than $1 billion in TP’s alleged scheme. As you may recall, Palm Beach was one of the defendants listed in the Texas lawsuit that also includes Ernst & Young, McGladrey & Pullen, and Kaufman, Rossin, & Co. that we reported on last month.
Since we’re waiting, we’ll get your thoughts on the matter. Vote on what you think the outcome of the trial will be and we’ll report the result as soon as we hear the news.
UPDATE: Obviously we had some intuition about some justice going down.