67 on the audit :(

  • Creator
    Topic
  • March 10, 2017 at 1:20 pm #1510648
    nscpa1214
    Participant

    I got the great news that I scored a whole 67 on the audit and I really start wondering if this CPA is really worth it? Is it worth all the hard work? I have an MBA and I am also a CFE and I also hold a master degree in accounting. So do you think this should be enough without the CPA? that was my first test by the way.

Viewing 8 replies - 1 through 8 (of 8 total)
  • Author
    Replies
  • March 10, 2017 at 1:33 pm #1510657
    Anonymous
    Inactive

    With a mid 40's percent pass rate, I wouldn't feel bad. Audit is very conceptual. The questions are tricky and a slight misread will cause you to get it incorrect.

    You are close..tighten up on your conceptual stuff. Read the actual Codification..it helps. Think big picture before you drill into the weeds.

    Ask yourself why/what are we audting…Essentially you are checking the FAR ( the journal entry and the reporting stuff) to ensure that it is fairly stated according to FASB rules. Management has the incentive to overstate revenues and understate expenses, so thats essentially what you are checking for.

    I'd say don't give up.

    March 10, 2017 at 1:44 pm #1510675
    Missy
    Participant

    You really have to want the CPA badly enough to overcome setbacks to ever passed the exams, when a person is that determined they are guaranteed to pass.

    I will tell you this, if you are ever in a position to compete for jobs against others who do have their CPA, their credentials will be more highly regarded than a graduate degree or other certifications. CPA>MBA>CFE (And I also have a Masters and a few other professional certifications) If you're in a job that you intend to stay at until retirement I wouldn't get the CPA but if theres even the slightest possibility that you may be a job seeker again I'd get the license to improve your marketability.

    Licensed Massachusetts Non Reporting CPA since 2012
    Finance/Admin/HR Manager

    March 10, 2017 at 1:44 pm #1510677
    Pokey
    Participant

    After you fail three times then you may want to ask yourself those questions but for now learn from it and see how you can change your study method (I'm still trying to find mine 😉 )

    AUD - 74 (3x), TBD
    BEC - Sept16
    FAR - TBD
    REG - TBD

    March 10, 2017 at 1:49 pm #1510680
    nscpa1214
    Participant

    Thank you for your advice. I really appreciated. The fight is on 🙂

    March 10, 2017 at 1:51 pm #1510687
    nscpa1214
    Participant

    I bit 74 hurts. Thank you for your advice, I appreciated. I am back on it 🙂

    March 10, 2017 at 1:53 pm #1510690
    nscpa1214
    Participant

    soon I will be a job seeker. Great point. Thank you

    March 10, 2017 at 2:04 pm #1510699
    NeedsA75
    Participant

    nscpa, can you describe your exam experience and you felt when you left the testing center? i'm curious if your score was a shock to you or kind of not surprising based on your exam experience

    March 10, 2017 at 4:13 pm #1510846
    shawn in VA
    Participant

    It it makes you feel better I have taken audit twice both being FAILURES. I question daily If I should go on or quit, but I keep plugging away b/c of so much time and effort put in. Also I have met a LOT of really airhead type CPAs that just happen to be good test takers but really struggle at work and personal life matters, so that is what keeps me going.

    I got a 64 on the 1st and 69 on 2nd try. I will sit again late april after tax season which ends late this year (APR 18). A this pace of point increase I should get a 75. The CPA is way more valuable than an MBA or masters in accounting.

  • Author
    Replies
Viewing 8 replies - 1 through 8 (of 8 total)
  • The topic ‘67 on the audit :(’ is closed to new replies.