[Kay]

My expectation was I would get at least 70~72 because I really understood concepts in REG before sitting for the exam. But I got 60!! it was even worse than my FAR score, 62, that I got after spending only 3 weeks on FAR study.

I was so depressed last night, and ended up drinking a lot. I had to pass the exam this time because our baby is due 4/3.

As a backup plan, I previously scheduled 2 weeks of Paid Time Off from my work just in case of exam failure. I spoke with my manager about my failure – she was very supportive and asked me to let her know if I need more time off. I may need that because I need to put an end to this CPA study ASAP.

There were so many things during this CPA journey. I started prepping in January 2012, got married in October 2012, so took 3 weeks off of study, and our baby is due early April 2013. Also we are buying a house now – we are about to close in March 2013. Hopefully, I can 100% focus on study after house closing – good thing (solely for study purposes) that my wife is in Shanghai for pre&post-natal break, where her parents are living. She will come back with baby in June.

I am sitting for 2nd exam for REG at the end of May. I am still under depression, but it is the time for me to be more realistic, get over it quickly, and conquer the exam before wife and baby come back to the States.

As an IT Auditor, I thought that REG was something I would never utilize in my career. But I guess I need to be more open to the topic, and thoroughly grasp what I really need to know in order to pass REG exam – especially for Simulation parts.

I will get some massage today, and let all my anger, stress, emotion out of my body. And then will probably start studying in the afternoon.

For those who failed exams, don’t be desperate for too long. Let’s conquer it together in Q2.

Currently:
CPA - Class of 2013
ALMI (Associate, Life Management Institute)
CISA - Passed in 2011, Certified in 2014

In Progress:
ASA (Associate of Society of Actuaries) - EXAM P (O), EXAM FM (O), EXAM MFE (X), EXAM MLC (X), EXAM C (X)

[HappyDayss]

If you can pass FAR, you can pass REG! you can do it. Just keep doing multiple choice questions over and over again. That is what helped me pass REG. I only used becker, I didn't even get to use their practice exams because I ran out of study time. I didn't even care for the law portions, R5-R8, only one day per section. Focus 90% of your time on the tax parts, break down each part, and just keep redoing the multiple choice again and again. If you keep forgetting some parts, just write it down and read it out loud. You can do it! Also make sure to read all explanations of the multiple choice questions even if you get them right. Also for the SIMS, even if you get them right, read the explanations. Good luck!

Done ^_^

[Anonymous]

You do have a lot going on. Regulation also gave me trouble. I eventually passed it. Much success to you!

[Kay]

Thank you guys.

I am going to start making my own note, so I don't forget any parts at the end of the day.

Once done with the note, I will do multiple choices over and over again – I did it before, but maybe I forgot many important parts.

Currently:
CPA - Class of 2013
ALMI (Associate, Life Management Institute)
CISA - Passed in 2011, Certified in 2014

In Progress:
ASA (Associate of Society of Actuaries) - EXAM P (O), EXAM FM (O), EXAM MFE (X), EXAM MLC (X), EXAM C (X)

[Lisa]

Kay:

You are so-o-o-o close to being finished. For Reg, with all the exceptions, it was very helpful to me to create notes with those exceptions written out as simply as possible and then to study them on their own. For example, if a corporation distributes property with a liability greater than its fair market value(FMV), use the liability as the FMV. So short hand in my notes: if L greater than FMV, then L is FMV. This helped me keep the rules straight for the various entities. Here's a memory aid I made for S corp distributions, where the S corp was previously a C corp, in regards to the correct distribution order and shareholder (SH) Taxable/nontaxable event: “APCOBE” (AAA not taxed to SH reduces SH basis, PTI previously taxed income not taxed to SH reduces SH basis, C Corp E+P DIv income to SH does NOT reduce SH Basis, OAA not taxed to SH and reduces SH, Basis, (if any left) not taxed reduces basis, Excess of Basis taxed to SH as capital gain. My point is that you should help yourself either with the notes from the CPA prep course, make up your own, and/or a combination of the prep course's and your own. Finally, if you read, re-read the books after working multiple problems it helps in retaining the information since you have a better grasp of the material. Good Luck to you!! You are almost there!!!

AUD 8/04/11: 78
BEC 1/9/12: 73, 4/04/12: 80
FAR 10/25/12: 80
REG 02/25/13: 79
Ethics 100%
VA License Issued 3/2013

[jeff]

4 months is way too long…6-8 weeks max, Kay.

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Anonymous]

I hear ya I put in 350 hours and its back to the drawing board…hoping for 70s….i tanked with a 62 tho….head up u got through FAR u got this…i gotta get through 3 other parts I merely passed 1 part …no worse feeling then putting in the time and getting dumped on….”pain is temporary but glory lasts forever” (at least I hope)

[iblive67]

@ConstantPainAgain and Kay

I totally am with you. I started studying in July of 12 for REG. I could not tell you how many hours I have put in but have not been able to conquer this monster. I have to sit for REG again on April 1st to let myself have enough time for BEC at the end of May. I lose my FAR credit in June and don't think I can recover if that happens. I wish I had the support at work that you do Kay. My plan is to use Jeff's 20 day plan. BTW, does anyone know if he was working full time when he came up with that schedule?

Hang in there I know we can do this.!!

My personal motto is “I can do all things through Christ which strengtheneth me”. I hope God is setting me up for a miracle:)

FAR 61 78*
AUD 73 76
REG 64 68 75
BEC 60

*expired 6/9/13

[Author]

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