My REG report. Took yesterday (1/8).
Content: as you see in an above post, I used 2009 Becker and 2010 Yeager Cram (with 2010 Whiley book), and I used Becker BEC Ch 1 for the business structure section that moved to REG in 2011. I am not allowed to offer specific material that I saw on the exam, but I'll put some opinions out there… I think that the above combination sufficiently prepared me for the exam. The parts of the exam that I was tested and had no clue were that the materials themselves should have gone deeper (in other words, it wasn't new 2011 material, it was 2009 stuff that the classes didn't prepare me well for). I was also surprised to find a question regarding a specific schedule from the corporate tax return that those of us in practice see everyday, but study materials have not covered. Luckily, I am very well versed in the workings of this schedule and knew how to answer. My guess is that it was a “pre-test” question and didn't count. So for the time being… I think that you can prepare for 2011 REG, with slightly outdated material as long as you augment your course to the new CSO's released by the AICPA.
New Exam Functionality: call me crazy, but I think they have dramatically improved the exam. First off, the calculator is more like the 10-key you have at your desk, than the craptastic calculator they used to have. It has a running tape and functions like a 10-key. Also, what I think is the greatest improvement is at the bottom of the screen. During the MCQ's, it used to be that you were on Question 1, and you could see the numbers 1-24 and flags at the bottom. You could go to any question you want. Now, the numbers are again at the bottom of the screen, but if you mouse over (hover over) the numbers, it will preview the first sentence of the question… meaning if I'm on Question 15 and it's about MACRS depreciation and I remember I had a question earlier that I'd like to see how I answered, I can hover over all the questions until I find that one. Or if I sit down and I want to go ahead and knock out all questions that may relate to my weakness… you can hover over and pick them out. It's quite helpful!!! Good job examiners!!!! The task based sims weren't too different from the old exam. No written of course. They were more in depth than I thought they'd be. The research question is more difficult now b/c in the past, you found your answer and selected the button next to the paragraph. Now you have to write out the citation… I didn't have time to finish my research question, so hopefully its still only worth one point like in the past.
All in all, I think the new exam format is an upgrade, and the material is pretty much what you hear. I know they can't test all the subjects… but I will say that both Becker and Yeager prepared me well for the law sections… and the tax sections, well, there's just so much info to know that you can't be proficient in all topics, but both courses did me well. I rarely send Becker a compliment, but this time they deserve one. However, I do believe that they spent WAY too much time and energy on Law. Yeager shortened it a lot in the cram to make it appropriate. But (this hurts to say)… Gearty was good at teaching tax.
What sucks is having to wait 3 whole months to find out if I'm a CPA or not!!! I wouldn't be surprised with a pass or a fail, but I feel like I passed. I didn't score a 99 or anything… but a 76 may be appropriate (assuming that 75 is still the passing score).
Please feel free to ask me questions about my experience with the new exam, however, you know the rules on content.
BEC - Pass 10/2010
FAR - Pass 10/2010
AUD - Pass 11/2010
REG - Pass 05/2011
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