[Tono23]

Hello All,

I am certain someone has asked this before in the past or current times. But in all honesty, I am extremely exhausted (mentally) . Therefore, my questions to the forum is: has anyone quit the cpa exam (due to failure after failure, etc.) but was able to have a successful career in accounting? Do mid-size firms let staff go if they never obtain licensure? A private tutor wants to charge me $75.00 per hour.

As an excerpt, I have been testing since 2011 without a pass. Have worked in industry and now in public accounting. I have not told anyone that I have been testing this long at the firm, due to feeling ashamed. All these young people (college grads) are passing. I am at least 10 years older and I feel ashamed, embarrassed and mixed bag of emotions. I worked hard for the firm and produce quality work. I had to vent because no one outside this forum really understands

Thank you.

[Mike J]

Not all failures are equal.

Do you know why you're failing? No, I don't mean that you should dig out that score breakdown. Burn that sheet. Honestly.

Instead, I mean, what are you uncomfortable with? Did you just try to memorize things? Was there a particular subject (eg NOT “specific transactions, events…” but did leases or installment transactions) that you could not understand?

Obviously, regroup if you feel you need to. Start anew in January. Call it a New Years' Resolution.

I earned a 3.6 GPA. But, I didn't really understand the basics cold. Likewise, I didn't understand HOW MUCH these four exam sections interrelate. You learn by doing, not reading. haha

Case in point, on the Auditing exam/as an eternal auditor you determine whether a company's financial statements are reported with consistent GAAP. What that has meant for me, as a CPA exam taker, is that otherwise completely unrelated balance sheet items are often treated the same. You use the same method to weigh time–WACSO for EPS versus the average accumulated expenditures in the capitalized interest calculation. After completing BEC, I immediately recognized that equivalent finished units for the Work in Process, was the same allocation for the Construction In Progress account to recognize the year's income. Getting the hang of journal entries, used to understand and manipulate the financial ratios on AUD, helped me see the FAR material so much better. I just think about what happens when I receive (dr)/pay cash (cr), recognize an expense (dr), buy (dr)/sell (cr) an asset. Then I back-in (eg. discount or premium on bonds) or solve for x, like I did in high school math class, what the exam is probably asking for.

…

In short, if you want to quit. You shout. If you want to take a break (recommended), do it. Recharge your batteries. Then, come back strong like you know you can. Don't study hard. Study smart.

Also, when you come back, I strongly suggest that you take yourself to school. Don't even look at a CPA review book or study material. Like I said, figure out what you really don't know. Just learn those things the right way. Use your old school text books if you still have them; tho you can google search for free resources.

Even if you don't want to try another CPA exam, by learning the material you can be a much better accountant.

Good luck with whatever you decide to do.

[Nessie]

The exams are much harder to pass if you are working full time. They are basically memorization tests, so you really need a week or two prior to the exam to cram.

No, I don’t think you should quit given your tenacity. But you ay need to figure out a way to pass while working.

REG Aug 20/15: 88
AUD: Feb 29/16: 80
FAR: Jun 10/16: 80
BEC?

Becker self-study, Becker Final Review & NINJA MCQS

[Mike J]

@Nessie,

With respect, I couldn't disagree more. Granted, your scores are more impressive than mine. But, when I approached the exams with trepidation–“I must memorize, I must memorize”–I failed.

When I finally passed BEC, I forced myself to understand why we use certain formulas. I needed to see how they relate to one another. Instead, I began memorizing the rules and how economic activities interrelate.

Working full-time while studying is a real pain. For each exam, I purchased NINJA MCQ. I wrote notes for each subject and would incorporate the solution (in my own words) for the questions as I worked in excel. I emailed the notes to my phone, in pdf, so I could read them anywhere I was.

[Anonymous]

I have been working in public accounting for the last 11 years and started the cpa license journey back in late 2014. I applied for the NTS and then let it expire as I didn't feel I was ready. Fast forward 2 years later and I have completed 3 of the sections (I failed BEC once) and am sitting for FAR in January. I made an arrangement with work to take 2-2.5 months off so I could study for the BEC retake and then for FAR. I feel like my many yeas in practice has given me a slight edge but for the FAR section I really needed to take the time off to study full time.

Maybe you should consider taking some time off to study fulltime and to get it behind you

[Missy]

Problem is this is a forum for people pursuing the exam so you're not likely to find many if any success stories of careers without the CPA. I've only ever worked in industry, and have had managers and controllers without their CPA, then again that was over 20 years ago and I believe the field is more competitive now than it was then. I believe people can and do have long careers in public without a license, but are not promoted. There's no guarantees of keeping a job, even for solid hard workers, though. If you find yourself in a job search even years down the road a lot of your competition will have their licenses. It's very hard for a 40-something or 50 something professional to complete for senior or manager positions and while a CPA isn't a guarantee either it helps to remain competitive in the job market.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[sancasuki]

It's hard to answer this without knowing your study methods. How well did you do in college?

[Jdn9201]

Tono23, I suspect that if you can produce quality work at your job and graduated with decent grades, you have the intellect and the ability to get your CPA. At this point in the game, your situation is likely due to one or two things – your mental attitude is wrecked (understandable – it's hard to have confidence in something when you don't pass multiple exams) and/or you don't really know why you want it. I am sure there are people who have successful careers without even attempting the exams, much less passing them. You're going to get people here tell you to suck it up and do it, but I think you have to figure out WHY this makes sense for you to strive for. Especially if you have a family or work very long hours, you already know this is going to be a huge sacrifice to do. It better be worth it. What doors will a license open up for you or allow you to do in your career? Maybe you could find a couple of mentors – one who has it and one who doesn't, and see what they think.
I know for myself, I waited a few years after I graduated because I was burned out. I also tend to be stubborn and don't do things unless I want to do them. If you never figure out your why or can't come up with a good one, then maybe that's a sign that you shouldn't go for it. If you decide you do, your why is going to help motivate you to put in the effort it takes to get it done. You win either way. Should you decide to go for it again, I'd suggest you recalling what helped you learn in college and try that with studying. I think another mistake people make is think there's one way to study or one order of exams to sign up for, and there's not a one size fits all approach that works for everyone. If you find what works for you then it's going to be less difficult to do what you need to get it done. Good luck!

BEC - 88 8/29/15
REG - 82 11/14/15
AUD - 83 1/8/16
FAR - 80 2/29/16

[Nessie]

Mike, I appreciate your opinion. I assure you, the scores I achieved were the result of studying very hard and learning the concepts, however, now that I work full-time at a job that expects me to work 50-60 hours a week, learning the full breadth of the material is impossible.

These exams are largely the effort you put in the last 2-3 weeks before the exam. If Tono works full-time, it possibly contributes to his inability to pass. Maybe Tomo needs to schedule an exam after Christmas break, for example.

REG Aug 20/15: 88
AUD: Feb 29/16: 80
FAR: Jun 10/16: 80
BEC?

Becker self-study, Becker Final Review & NINJA MCQS

[Anonymous]

Where there is a will, there is a way. If the CPA designation is important to you (as you have implied) you need to find a way to pass the exam. If you can afford to take the time off of work, then do it. I'm taking time off now to prepare for FAR and by God I will pass this f*cking exam.

[Missy]

also what is your actual test history? When I see someone say they've been at this for years, I am curious about their history on this forum and look at the topics started. You posted in Jan 2014 that you were just about to take your first exam, so have you taken 4 exams since 2011, or 30 exams? I think maybe you've had a lot of false starts and stops in that time and that is understandable but curious how driven you've been over 5 years.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Mike J]

@Nessie,

I work for a living, too. I just want to help others study hard, not just smart.

It's really not about your success, no offense. You have it. Kudos on your hard work, I assure YOU. haha The original poster probably needed more advice than mere gimmicks if he/she is still failing.

Also, I didn't mean to say learn the entire breadth of every accounting book in the history of Accounting. Nice try. But, others will become quite lost–whether they spend 5 minutes or 5 years–trying to learn anything by merely trying to memorize clever Jedi Mind tricks. Not by itself.

[Tono23]

Thank you all for your input. I do know my learning; its' by being hands-on. I don't comprehend at times by explanation or reading. Please believe I have implemented the ‘hands-on” approach by doing MCQs until I puke. I have Becker, which the firm paid for, and have solely used Becker this entire time.

mla11692: I will give you a vid detail of this process and what life has thrown at me, so you may better understand. I graduated from college Autumn of 2010. I took my first test that Winter, failed Audit with a 55. Now, I picked up the book and worked on more MCQs. Fast forward a few months, my grandad became seriously ill and passed. I then waited a few months to grief, picked up Audit and worked on more MCQs. Failed again, 56. Now by this time a full year has passed due to f**ing black out months and life events. Picked up Audit again (3rd time now) read book and more MQCs. Few weeks into studying, father passed after surgery. This was unexpected and was dealing with lawyers, obtaining medical records, autopsy and arranging funeral. Took several months off, Audit again and failed with a 65.

All that being said, and fast-forward to 2016 I have taken Audit 6 times, then went to FAR , which I took 3 times, BEC 1 time and Reg once as well. My score have a range of 45-69. I have poured my soul, time and dedication towards this process.

Do I want it? Yes, I do. I need to find a way to pass; easier said than done. Tutor wants $75/hour. And who knows, they may suck! I can write my expressions on this forum until kingdom come; however, it will never quantify just how much effort I have poured and endured throughout this process; hence, my title on this thread.

[Missy]

I am truly sorry for your loss of your father and grandfather, I can see how that would get in the way of the exams.

All I can say is when you are ready to do this you will find a way. People here have failed more than 10 exams before passing their first, and are licensed CPAs now. Good friend of mine took the exams over 20 times total over the course of about 10 years found out she had Thyroid cancer but never quit on the exams and now has her own practice. There's no shortage of hardships folks have endured to get past these exams.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Nessie]

Too, sorry to hear about your father and grandfather. Going through the emotional loss and then all the other administrative stuff a person has to deal with, well, no wonder you haven’t been able to pass. Kudos to you for even trying to study during that time. Don’t be so tough on yourself. I would not count the failures that were during your time of mourning.

Do you think you will do better with a tutor? Maybe give it a go, but there is always this site for help.

REG Aug 20/15: 88
AUD: Feb 29/16: 80
FAR: Jun 10/16: 80
BEC?

Becker self-study, Becker Final Review & NINJA MCQS

[Missy]

Also assuming you're not quite ready to quit, what study materials are you using and do you keep using the same brand? Becker is the best for some people but others will never pass using it. I used Wiley but that was sufficient for me especially for FAR since I've been a general ledger accountant for decades. Wiley wasn't enough for me for AUD, that took three tries to pass and only because I got the ninja notes and copied them word for word three times over. I “got” it then.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Author]

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