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I am at the point where I am beginning to see the light at the end of the tunnel with the CPA exam thank goodness, but I have to keep plugging along. Something that has been a tremendous help for me with these exams was realizing right off the bat when I did not pass the first section I took. There is a HUGE DIFFERENCE between memorizing the material and understanding it. My method to understand the material has to do with working tons of problems. However, I know of people who work the problems and move on. When I miss a problem I figure out why I miss it by referencing my study materials and making notations in my study book on why I missed it. This is time consuming in a process where time is already precious and our enemy. However, I realized that as soon as I started doing this I could not only see almost every page from the book in my head, but also nail the majority of the problems I have done. Ever since I started doing this things have turned around so much. This is especially the case with Audit and BEC from what I have seen. You really have to know how to apply Audit. They can try to trick you in Reg, but in many cases memorization can be enough. Audit on the other hand is a different story. You absolutely have to know the ins and outs or they are going to trick you time and time again. I really think this makes a huge difference in whether many people pass or fail especially on Audit or BEC. It is easy to do a problem and then do it again and memorize the ones you missed. However, the purpose of the problems are to further facilitate our understanding of this stuff, not our memorization. It is important to take time on the problems and really ensure that they are understood. That is my piece, but I thought I would share a strategy that has been very beneficial for me.
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