[RB]

Hi everyone. I would like to share my study strategy with you, if you follow this you really should pass.

I passed all of my exams the first time, in under a year, and I THINK I get the Sells-Watts (my average is exactly 95.5) once I get my paperwork submitted. Scores in order: 98, 91, 95, 98. First exam was February 2017, last exam was November 2017, I believe I started studying in November 2016, so just about a flat year, studying 15-20 hours per week while working full time, seeing my friends at least Friday and Saturday nights, and taking 1-2 weeks off after each exam to relax.

This is what I did for each section EXCEPT I skimped a little on regulation and skipped most of the lectures because it should have been the easiest material for me. That’s my 91.

I didn’t go in to these tests trying for Sells-Watts, I went in just hoping to make sure I passed the first time. Here’s my strategy:

Step 1 – read a section, maybe make some notes in the book
Make sure you understand what the section is trying to say
Step 2 – make your own notes (typed) from that section
Write things out in your own words the way you understand them
Step 3 – watch the lecture, pay attention, and update any notes with new information
If you didn’t really understand the material when you read it, then watch the lecture BEFORE you make your own notes. Make sure you understand the section before you make your notes, and that your notes are in your words, to yourself, the way you understand them.

Step 4 – do the multiple choice for the section. At this point I will do something like “B2-M1, Homework”, and write down an explanation to myself for anything that was difficult or I got wrong. I generally leave it there unless it significantly clarifies a piece of my own notes (from step 2), then I will update that note.
After the first run, anytime you get something wrong a second time make clarifying notes, put those in with your regular notes (not a separate “homework part), but put those in red or some other color so it stands out to you as something you definitely need to read a few more times.

Otherwise, go through the material, module by module. Do ALL of the multiple choice at least once. Mark any problems that you think would be good to re-work before your actual exam.

At the end of each chapter, do the chapter simulations and go over all of the problems you got wrong at least once. Update your notes again.

Do that chapter by chapter.

Make your own flash cards on some things, things that can only be learned by memorization, like porter’s five forces for BEC, or AMT adjustments for REG, etc. Mostly focus on your notes, but make flash cards after the chapter is done and you have pieces that just need to be memorized.

Leave 2 weeks before the final exam where you are DONE with everything and the above strategy.

In these 2 weeks you have 3 goals, 1 – do all of your marked problems twice. 2 – Review your own notes at least twice 100%, if not 3x, 3 – do the practice tests, AT LEAST one of them, preferably 2.
It can be helpful to highlight or trim down your notes to a more condensed version, like print them then mark them up and update / delete stuff that you know you are comfortable with, and re-print to a smaller document that you can review 1-2 more times.
I read the notes once, do the marked MCQ once (remove marks for ones that you don’t need to do again at this point, and make sure you update or emphasize your notes if you still got anything wrong), read the notes a second time, do the marked MCQ a second time (at this point make a list of 20-40 MCQ you want to cover the morning before your exam as final prep), then read your notes a third time.

Also – as you go over your practice tests, open a separate document and write out questions to yourself about anything you’re unsure of, like okay, when do we use mid-quarter convention for depreciation? Or, what causes a shift in demand versus a change in quantity demanded? Etc. That way even if you get the question right you’ll know it’s something you need to review more to be more comfortable with.

Reading ALL of your notes will give you a broad coverage of the general topics, your MCQ will focus on what you still need to work on, but reviewing your notes a few times makes sure you don’t lose topics that you’re mostly comfortable with but still need to remember.

During your last pass through the notes start to highlight things within them that will be good for you to skim over again the morning before the exam.

On exam day I try to relax a little, enjoy a good breakfast. Go over 20-30 multiple choice and read anything I highlighted in my printed notes, last minute things to reinforce.

ADDITIONAL TIPS:

If you have time in your studying, when you’re done with 50% of the material take a week to review what you’ve done so far. Print off your notes, read them, do your marked problems and update anything you’re unclear on so that material is solid before you go on.

As you go along through your studying I make a page with my strategy for “final review”, with a list of things or questions to myself. Here is an unedited excerpt from my BEC final review strategy:

B1-M1 and M2 are weak, could do all problems again
B1 – Sim 2, part 2, reset and do it again
Do I understand each of the principles? And which relate to which?
Do I know the cost of retained earnings?
Do I know the cost of preferred stock?
Dividend discount model, etc

In some instances, it is helpful to make a separate summary to yourself. Like I made a short summary of the different costing methods and different types of variances, so I could see them in one place and better understand the differences.

I will also say, there were some problems that I just couldn’t figure out why I was getting a different answer. For MOST of these I would take the time to pick it apart until I got it, until it clicked. That has meant I’ve spent 2 hours on one multiple choice sometimes, looking up youtube videos or reviewing answers here. But once it clicks, it clicks. If you want 98, you need to do that. If you want 75, then follow the above strategy and don’t worry about EVERY point.

I studied with Becker, but this strategy should adapt to most of the available study programs out there.

Good luck candidates!

[msquared17]

Congratulations on your accomplishments! This post is very helpful. Very impressive to have studied 15 -20 hours per week. Your post is very helpful and I will definitely adopt your study plan. Just a couple of questions: Did you do the skills practice for each module? Did you do progress tests after each chapter or only when you were 50% done? How often would you review your notes? Did you set aside study time each day (mornings before work, 3 hours every night, etc.)? To be a CPA is a personal goal. I’m not currently working in accounting but planning to switch back after I become a CPA. While this goal is very important, I don’t want it to consume my life. I have a full time job, a family and would love to keep my sanity. It appears that you have figured this all out so that you still have some quality of life.

Thanks for the post.

[Booner17]

bump

[aspencookie]

wow i love this post, i think i may use your strategy. i may also reach out to clarify somethings with you. I am going to go home and read this in more detail and write out a study plan for myself.

thank you!

[Tncincy]

Congrats to your CPA success. A bright future is ahead. Your strategies are very much appreciated.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[RedBaron2]

I was traveling this past week and I'm getting an error trying to reply under my main account, let's see if this works –

For MS –

Personally I don’t like the progress tests. I’d rather go over marked or random problems so you can see the answer immediately and either reinforce your thinking or clarify what you got wrong. In the progress tests its easy to forget what you were uncertain about when you were answering the question. Becker has a game called Accounting for Empires. The game itself sucks, but to progress you answer random multiple choice and can see the answer afterwards, same MCQ as the main program. Again the game sucks but it is great for doing random sets of problems, I found that very useful.

The skills practice are awesome, 100% do them, all of them. I recommend either doing the skills practice after you finish the chapter, or doing them in your final 2 weeks of study. They basically work like mini simulations and have explanations attached so they’ll tell you what you did wrong, something you really don’t get with actual simulations. Also, doing them toward the end is a great way to briefly touch on all of the concepts you’ve covered. Either way works but definitely do them before you’re done.

And thank you everyone here. Always happy to help out where I can, I know how difficult these tests are.

[Anonymous]

Your thoughts are definitely appreciated….although, I (and just about everyone, I dare say) will attest to the fact that what works for you is NOT what will work for the person sitting next to you. You developed a plan that worked for you. That's outstanding. You figured it out! But, for >99 % of people, another person's method will not work for them. Even the methodologies and suggestions given by the individual review course vendors doesn't work for a good fraction of their customers (that'd be us!) Everyone does it a different way.

[Author]

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