[Anonymous]

Seriously, Is it just me or is this whole exam process utterly ridiculous? I took my first ever exam section of FAR a couple days ago and after the experience I am thinking to myself just how stupid this is. I’m not saying I’m quitting or anything like that, but these accounting boards want us to sit in a chair for 4 hours and try to answer 97 total questions that take me almost 4 hours just to read and understand the question & figure out how to solve it let alone begin actually calculating the question to get the answer. On top of that, they word the questions so poorly that it just adds to the confusion. On top of that, the answer choices are all trying to trick you because they’re all the calculations someone would make if they solved the question the simplest way possible. Why can’t they just reduce the amount of questions or split the test up into more sizable chunks so I can actually understand the ins and outs of the accounting concepts NASBA is testing us on? No, instead I have to make up all of these stupid little mnemonics and abbreviations in my head just in case I have 1 or 2 questions on it during the real exam. About 75% of the formulas and concepts I memorized weren’t even tested. I instead was tested on a lot of questions that weren’t familiar to me and didn’t have time to truly write out and attempt to make t-accounts for anyway. I only have like 2-3 minutes max to solve the hard MCQ’s anyways. I’ll I’m saying is if NASBA is going to test us on stuff that takes more than 2-3 minutes to solve then don’t give us so many questions in the first place because maybe then I would feel good about myself. Is it really that hard to make it a 75 question test and make it 5 Sims instead? What’s the point of so many questions, when no one has enough time to truly understand and figure out the answer without having to guess so much?

Do you want to take a break during your 4 hour exam the screen asks me? Of course I want to take a break, but if I do then any chance I did have to score a 75 is even more unlikely to happen. It’s like someone dangling a nice hot fresh piece of pizza in front of me and asking me if I want to have a snack. If I did have any urge to use the washroom during those 4 hours I was just going to do it right there at my desk. I have way too much time, money, and energy invested in this to take any chances. This is how ridiculous this whole CPA exam experience is.

[Tootsie]

@katiekanton, crap, I feel like an idiot now, lol. @CPAMan, if you were being saracastic, please know that I am VERY gullible.

The picture is of my doggie and that is downtown Boston, a great city. 🙂

FAR - 76
AUD - 88!!! DONE!!!!!!!!
BEC - 76
REG - 77

never, never, never give up

[Tootsie]

@CPAMan, LOL about the metal detectors. I wonder if someone has actually shot someone because they found out they failed. You can find out your score instantly if you take the GMAT. I usually test with a lot of GMAT test takers.

FAR - 76
AUD - 88!!! DONE!!!!!!!!
BEC - 76
REG - 77

never, never, never give up

[Anonymous]

[Anonymous]

Yeah the GMAT was a joke when I took it back in 2006. It's almost exactly like an SAT test from high school where you have to know Geometry and Algebra. What that has to do with trying to get into business school I'll never know because it never had nothing to do with my experiences of Finance, Marketing, Accounting, and IT. If I need to know the angle of a triangle I'll Google it, but the situation never came up at the office yet.

[Anonymous]

@Tootsie- I'm just echoing what the AICPA is claiming. I, personally, do not believe it. Money is a big reason why they maintain such a low pass rate. If it wasn't, they wouldn't charge a ridiculous fee for a score appeal and refuse to change your score 99.9% of the time. Really, can they be 100% certain that EVERY test is graded without errors of any sort??

[Anonymous]

ya Dis test IZ DuMb!

[Minimorty]

I just caught up on this thread and all I can do is say “Wow” and shake my head.

I hope this is just a venting exercise and you guys dont actually believe half the crap that was spewed out up there.

[Anonymous]

Anyways, putting aside all this venting…. the CPA exam cannot be that hard because if it was, there would be no CPAs in the world. It just take time, dedication and effort. The exams are not hard per se, but what makes it hard is the amount of material you're required to retain in your brain. Be patient and you will succeed. End of story.

[Tootsie]

@Minimorty, was wondering when you would come around. What are your thoughts about this topic?

FAR - 76
AUD - 88!!! DONE!!!!!!!!
BEC - 76
REG - 77

never, never, never give up

[Veronica75]

I may be venting, but I still believe a large portion of the process is all about making a profit and the scheduling process is silly. And why can't we sit any month of the year?

When I first started studying, I accidentally scheduled FAR way too soon. When I went to reschedule for later in the testing window, my 90 day time period from the state board ended. Having already paid NASBA for my testing fee, I called the board to see if they could let me re-up my window by repaying the $15 fee. I had to forfeit my $200 fee to reschedule within the same testing quarter. Silly.

It was definitely poor planning on my part and a lack of experience with the scheduling process, but there doesn't seem to be a lot of common sense.

FAR - 79 (2x)
AUD - 81 (expired), 77!
REG - 74! omg (3x) 87!!!!!!! I'm done! OMG!
BEC - 81 (4x)

[Minimorty]

@tootsie – lol. I bet there are a few people on here wishing you hadn't asked me that question.

I'll just say a couple things, more from a big picture standpoint. You want the CPA designation to have value. The whole reason we are all going through this process is because we believe that the designation will add value, provide more opportunities, set us apart from our peers, and increase our earning power over the course of our lifetime. It is a GOOD thing that there is a tough testing and application process in place that weeds out the candidates that dont have the knowledge, drive, and experience to become a CPA. I've mentioned a few times on these forums that I wish the exams were even tougher and the state boards/AICPA required more work experience before handing out the designation. These policies protect the integrity and value of the designation. Could the AICPA/NASBA improve upon some of the procedural aspects of the exam? Sure, but you shouldnt let any of their procedural deficiencies prevent you from putting in place a good study routine and knocking out the exams.

[Anonymous]

LOL! With a 45% pass rate every quarter, these exams can't get any tougher. The bar exam is notorious for being a killer exam, yet their pass rate is higher.

[Veronica75]

@mini – I think we can handle that response. 🙂

I'd like to know how much money they bring in on the CPA exam as opposed to other professional exams?

FAR - 79 (2x)
AUD - 81 (expired), 77!
REG - 74! omg (3x) 87!!!!!!! I'm done! OMG!
BEC - 81 (4x)

[Minimorty]

@veronica – The costs are high, but I dont think they are unreasonable. We're talking about spending less than $2,000 from start to finish for a designation that is likely going to earn you hundreds of thousands of dollars more over the course of your career than if you didnt have the designation. Compare this to some MBA or MAcc programs that cost upwards of $50,000 and dont provide nearly the same benefit as having a CPA license. Also, the AICPA needs to be embraced as an ally, not as an enemy. I think far too few people realize that a big reason the CPA license is valuable is because of the marketing and lobbying efforts put forth by the AICPA. Just about every household in the US and many abroad know about and respect the CPA designation. This is due to years and years of marketing by the AICPA. The AICPA also does a tremendous amount of lobbying, trying to protect the interests of its members by making sure legislation is not passed that would be detrimental to our ability to make a living. These types of things take money. A lot of money. Just remember that we are still beneficiaries of a lot of their efforts.

[Anonymous]

Law and accounting are both professions that attempt to artificially constrain supply through arbitrary barriers to entry, thus keeping member salaries relatively higher than they would otherwise be. This is a good thing. Look at the legal market over the past few years and you'll see a huge number of unemployed or underemployed law school grads, some (like me) seeking refuge in the accounting profession, because there are simply too many law schools graduating too many people.

Obviously it does not require 150 hours of higher education (where only 30 is actually required to be in accounting) to perform an audit or prepare a tax return, and the breadth of knowledge required to pass the CPA exam itself is far greater than that required to actually practice. If you don't want to put in the time and effort to clear the hurdles, get a job as a bookkeeper and enjoy making $20k+ less per year for the rest of your professional life.

Or, be a member of a profession where demand exceeds supply. Two years of nursing school and one licensing exam and you're an RN making more than most CPAs. Otherwise suck it up or GTFO.

[Author]

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