[Anonymous]

Hey Everyone,

I’ve never written on here just usually read other peoples threads but I’m in a tough situation and I need advice. I’ve passed 3 out of the 4 sections of the CPA and all I have left is REG (which i’ve failed twice). I was working at a public accounting firm but quit after 3 and a half months once I found out I failed. The reason I did this is because my FAR section expires in May and busy season was starting so I felt I wouldnt have enough time to study and feel confident in my re-take. On top of that I absolutely hated public accounting anyway so that made the decision a little easier. Anyway I re-took my REG section yesterday and left not feeling very confident. There are like 7 m/c questions I wasn’t sure about and realized I got wrong. I’m now in a situation where I cannot find a job outside of public accounting because it looks bad that I left so early, but also I doubt I passed my re-take. If I do not pass I’m thinking about getting out of the accounting profession because public accounting is not an option for me anymore unless I have my CPA. Has anyone here decided they hate accounting and been successful in switching careers? Also has anyone left the cpa thinking they bombed it and still passed?

[Recked]

Feeling like you did terrible on an exam is completely normal.
I left all 3 of my exams thinking I had a 50/50 shot at pass vs fail.

There are many many paths you can take in accounting. If you hated tax try audit, if you hate audit try tax. If you hate both maybe you'd be better off in gov't or industry doing A/R, A/P or payroll type stuff? There are so many different options and applications under the umbrella of accounting. Don't let one bad manager/team/firm/job ruin your whole career. Give it another stab in some other area before throwing away those years of education.

Don't turn a temporary problem into a permanent solution.

[aaronmo]

Yes…I left FAR at least 65% sure I'd failed, but it was my first exam. I left Audit knowing I killed it, but that was the only time I felt that way. REG…well, the program crashed on me 4 times and I knew that screwed me up on some SIMs, but…I thought I likely passed. I prepped BEC less than the other sections, I hated the material, and knew I didn't do my best…but I thought I'd be maybe 10 points lower, not 20. So I would have bet pass. In other words…after FAR set expectations, I felt pretty decent even with some “issues”.

The fact that you've passed a few tells me you sort of know what passing scores look like. Tough to say. You know that the MCQ is hard to judge because you don't know which questions count, or how much they count. I think the real determiner is how you felt about the SIMs.

OK, this isn't the question you actually asked, but I'm saying it anyway. Leaving public probably doesn't mean you can never work public again. It probably means your options are more limited, but I think you should/could still apply to smaller firms. That would be especially true once the exams are done. I think you're being premature giving up UNLESS you don't want to do it. If you don't want to be an accountant…don't be an accountant. But, I wouldn't assume you can't be one…and that you passed three tells me you can pass the 4th too.

Personally, I think if I passed three, I'd do anything needed to pass the 4th and finish it. Even if I wanted to switch fields. Having a CPA is NEVER going to hurt you and you're so close as is.

[Jen-J]

I feel for you – you're in the weeds right now. Let's try the view from above. 🙂 You made it through the education to be eligible to sit the exam. You've passed 3 parts. You have 2 weeks to score release on your 4th part that's been a trouble spot. Nothing wrong with keeping up the studies for the next 2 weeks if you think you'll be looking at a retake. I hope you're done. If not, there's always next quarter. Tutoring, or a different study program, might make the difference for you. Pass or fail, you are still an accountant. Plenty of accountants never even consider taking the CPA exam and have great careers. There's plenty of opportunities outside of public. You can do this!

[Anonymous]

When I said I can't go back into public accounting unless I pass the CPA, I meant I am not willing to. I hated public so much and the only reason I would go back is to fulfill the work experience required to be a licensed CPA. If I fail I'm definitely gonna take it again, but if I dont pass that time then my FAR section expires. If that happens thats when I'll offically give up. Hopefully I will pass but I really have no idea. I'm just trying to think of some back up options because its looking like its gonna be difficult to find a job outside of public right now and if I can't pass the CPA I don't think its worth it for me to stay in the field.

[aaronmo]

First…you CAN pass the CPA exam. Even if you have to retake FAR. I know that because if you can pass three, you can pass 4. If you can pass FAR, you can pass REG. Period. If you can dodge a wrench, you can dodge a ball.

I agree with Jen…even if you want out from accounting, this close…FINISH IT. Even if that means retakes. I have a friend who took the exams over 20 times and had passed all of them at least twice. TWENTY TIMES.

Also…small public is VERY different than medium, or large. Just because it's public doesn't mean it's all the same. Try tax if you didn't like audit. Or vice versa. Do two years, and then you're uber desirable everywhere.

[Jen-J]

The work requirements to be a CPA generally allow experience as an accountant in industry. (Which is why I'm doing this now instead of a decade ago.) It's easier if your boss or someone else at work is an active CPA, but if not there are states that let another CPA sign off on your work. The work experience can be sorted out later.

[Author]

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