[Ryan]

If you are upset about the 18-month exam expiration rule and would like to help get rid of it, sign this petition!

https://www.change.org/p/national-association-of-state-boards-of-accountancy-eliminate-the-18-month-exam-expiration-rule-for-the-cpa-exam?recruiter=774519130&utm_source=share_petition&utm_medium=copylink&utm_campaign=share_petition

AUD - 87
BEC - 80
FAR - NINJA in Training
REG - 86

Ryan

[West55]

“24 months is fair.”

I agree, and this thread inspired me to register here. There are already significant barriers to entry:

1) 30 hours of accounting education.

2) 150 hours of university credit.

3) Passing four of the most difficult professional exams in existence, with a combined pass rate of 6.8%, which is far lower than the pass rates of professional exams for almost any other field.

4) 1 year of work experience under the supervision of a CPA.

Can anyone seriously say that extending the window from 18 months to 24 months will cause the public to lose confidence in the profession or cheapen the worth of the license? The exam-related barrier to become a CPA is already higher than to become a professional engineer, a registered architect, an attorney, or a physician. Extending the window by six months will not increase the pass rate or make the exams any easier to pass. It will only increase licensure rate. Everyone licensed will still be a passing candidate. As for the objection that 24 months means newly-licensed candidates will not be current with the latest accounting knowledge – isn't that what CPE is for? I know people who passed the exam 40 years ago, but no one says they passed too long ago to be current with accounting knowledge.

[Jdn9201]

I may get criticism here but no I think the 18 month rule allows for plenty of time for people who put in the time and effort needed to pass. My primary concern for extending it is as soon as that happens, people will make the case for even longer or no time limitation at all. One of the reasons why it is so satisfying to obtain your license is the difficulty in obtaining it. If it becomes a participation trophy, it doesn't mean as much. I passed all of mine in 6 months working more than full time, and I thought this before I was done with the process.

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

[Anthony]

@West55 Which the AICPA wants to gate, the licenses rate. The AICPA don't want to dilute the amount of active CPAs too much to the point where everyone and their grandmothers can be a CPA and at the same time there needs to be a good healthy amount of newly minted CPAs each year. 18 months is clearly the sweet spot for them because so far nothing has been changed and are never any talks about extending to 24 months.

Not to down play the difficulty of the exam itself, IMO 18 months is more than enough time if you play smart by taking at least 2 exams each quarter like what the AICPA has suggested. Take one in the early of the quarter and another one close to the end of the testing period will maximize the amount of attempts before credits start to expire.

AUD - 82
BEC - 80
FAR - 81
REG - 82

FAR - 74 first attempt

[West55]

“My primary concern for extending it is as soon as that happens, people will make the case for even longer or no time limitation at all.”

That's the classic slippery slope fallacy. I'm against giving any time window extensions, but I think 24 months is more realistic than 18 months to pass four exams, especially considering that many people are working full time and/or pursing a master's degree while studying. I can't think of any way that a 24 month window would cheapen the license in the eyes of the public.

“One of the reasons why it is so satisfying to obtain your license is the difficulty in obtaining it. If it becomes a participation trophy, it doesn't mean as much.”

“The AICPA don't want to dilute the amount of active CPAs too much to the point where everyone and their grandmothers can be a CPA and at the same time there needs to be a good healthy amount of newly minted CPAs each year.”

Huh? The pass rate is currently 6.8% – roughly 1/10 the pass rate for the bar exam, for example. I'm not talking about making the exams easier (although maybe they should be structured differently – that's something for another post). I'm only talking about letting people have a more realistic time frame to pass the exams – in other words, let candidates keep credit for exams already passed and keep their money while they're at it. Let's face it, the main reason for the window and the other unnecessary hoops (like a new application fee for each NTS) is to generate revenue, not to enhance the value of the CPA license.

I'm actually fine with creating higher barriers to entry in other places, for example, one year of work experience could be changed to four (it's four years to become a professional engineer). One year working under a CPA is nothing. At that point, you're still very junior.

“I passed all of mine in 6 months working more than full time, and I thought this before I was done with the process.”

OK, but we have people here who are spending a fortune retaking exams that they've passed two or three times already. This is time they could be spending on CPE or training in their specialty – or god forbid – having a life.

[West55]

I detect snobbishness in some of the comments I've read. Let's use structural engineers as a comparative example. For April of 2017, the pass rate for the PE exam for first time takes is 68%. The pass rate for repeat takers is 44%. That makes the overall pass rate for April 2017 61%.

1,657 first time take @ 68% pass rate and 637 repeat takers @ 44% pass rate: [(1,657 * 0.68) + (637 * 0.44)] / (1,657 + 637) = 61%.

PE exam pass rates

These are people we entrust to build skyscrapers. Is the licence cheapened because of a relatively high pass rate? Can “everyone and their grandmother” obtain a PE license? Of course not. There are sufficient barriers to entry to the profession.

I'm not even necessarily suggesting making the CPA exam any easier to pass. I'm only suggesting letting more people keep credit for exams they've already passed.

[nalratoss]

I think the 18 month rule is a good way to get test takers out of CPA as quickly as possible.

Let me tell you this, in China, CPA consists of 6 sections, you can only take CPA once a year. You can take them all 6 at once in 2 days, or you can take any number of sections in any year but you have to pass them in 5 years.

Think about it, you can only take it once every 12 months, and you have to pass all within 60 months.

Who wants to keep studying for 60 months?!?!

Here the AICPA allows you to take in every test window, that's 4 tries a year and 6 tries within 18 months with 4 sections to conquer.

Taking the CPA drains energy. A balance of “pushing yourself” vs “relax before getting seriously worn out”, and the 18 month rule balances out nicely. Within a 60 month rule but only one chance every 12 months, I believe it easily wears people out.

I will take the 18 months rule anyday.

FAR-80

AUD-77

REG-75

BEC-82

 

I'm done done!

[HoldMyBeerCPA]

Now that I’m on the other side, I believe that 18 months is a decent amount of time to get all four of these exams done.

It’s been said 50 times before me, but everyone has had their circumstances that made their exam experience a living hell. Mine for example was taking FAR during busy season (60+ hours per week) and taking two grad school courses. Life absolutely and positively sucked during this time. I had no time for anything and LITERALLY put my life on hold. Fortunately, I was able to pass with a really good score on the first try.

The point is that there’s always going to be external factors in your life that will hinder the quality of your study time or amount of time that you have to study.

What I believe is that current exam takers must have the diligence, patience, willingness to sacrifice and a surrounding group of people that are willing to make that sacrifice with you to pass this exam. Notwithstanding emergencies or extraneous health issues.

P.S. Mods, please never close this thread.

"FACT": The odds of consecutively passing all four sections of the CPA exam on the first try: 7%.

Me: Hold my beer...

FAR (April 2017): 75+

BEC (May 2017): 75+

AUD (July 2017): 75+

REG (September 2017): 75+

Roger + Ninja Audio/MCQ/Notes (BEC & REG)

[Anonymous]

I don't think the AICPA is going to overturn the 18 month rule. If they did, they'd be graduating a lot more CPAs and they'd have to change their quotas and its highly doubtful that they will ever be doing that. Just gotta live with this one.

[EZ_Sims_4_me_Pls]

I would have lost FAR this past Saturday if I didn't finish em all earlier this year..

thank you God..

AUD - 80
BEC - 84
FAR - 77
REG - 79

one step closer

[ixlr82day]

@SpencerJamesCPA I was wondering…score review on a part you got over 75? Why?

I agree that 18 months is enough time. I just finished the exam in October 2017 after turning 40. In the “old” days you had to take all 4 parts over two days and to keep any of the parts or to get “legs” as we called it you needed to get 75 or over on two parts and at least 50 or higher on the other two. Missing either of those things meant you didn't get to keep any parts. Also I think it was done once or twice a year…that was a brutal exam. I took it once in the old way and failed badly. Took it later when it got computerized and also failed. I think the reason I never passed back then was that it was never a priority in my life. I would “study” but I still hung out with friends and had an average social/work life.

This past year I gave it all I had. Went out to dinner with my gf once/twice a week and studied the rest of the week while working a full time job. I saw my friends …for Christmas and Fantasy Football draft. I did go to a LV Bachelor party for 6 days and ended up failing both AUD and FAR. After that I said no more “fun” and basically lived at work. Got to work at 8 AM and left at 10 PM on M-Thursday. Friday was date night. Saturday was 8-6 at work studying. Sunday was 10-7 at work/starbucks studying. My belief is that this misery was short term. I passed BEC and REG early in my testing and knew I needed that pressure. I needed an expiration or I would just do a half hearted attempt. The partners would question why I took the parts I was most familiar with first…my answer was if I couldn't pass Audit and FAR with 4 attempts each then it didn't matter if it was first or last because I would give up after that.

When people asked me about the CPA exam I felt like noone really can understand until you take it. I had relatives question why it was so hard to pass. If you went to school how can you not pass it. All of those types of questions made me more determined to end it. Most of those people that questioned me did not have that type of exam in their professional career. In the end if you put in the time you can pass it.

AUD - 76
BEC - 75
FAR - 79
REG - 84

 

 

[HoldMyBeerCPA]

@ixlr82day: I have now dropped the review process. I was particular upset about AUD. Although I passed with a 76, I have no idea what I did wrong. I was more upset with the lack of transparency with this exam. I mean, aren't we as professionals, supposed to learn from our mistakes? Why can't we do so in this case?

"FACT": The odds of consecutively passing all four sections of the CPA exam on the first try: 7%.

Me: Hold my beer...

FAR (April 2017): 75+

BEC (May 2017): 75+

AUD (July 2017): 75+

REG (September 2017): 75+

Roger + Ninja Audio/MCQ/Notes (BEC & REG)

[CPA2BEE]

This whole thread is crap. I was held under the 18 month rule and so has every CPA for years and years. If you need more time, find a new profession. If you want to be a CPA, its pretty much a guarantee you'll be working under deadlines, here's a nice way to see if you're cut out for that! Maybe if you spent your time studying rather than setting up petitions, you wouldn't have this problem.

CA CPA - est. Dec 2016

FAR - 80
AUD - 82
BEC - 80
REG - 85

ETHICS - 90
EXPERIENCE - COMPLETE
Application for California license mailed 8/4/2016

[ixlr82day]

@SpencerJamesCPA I agree that the score report should be much more detailed pass or fail. I am disappointed that some states can get a score report for a passing score while others like mine get nothing. I would like to know how I scored on the various sections as well as mc and sims. In the end its over and done.

AUD - 76
BEC - 75
FAR - 79
REG - 84

 

 

[TommyTheCat]

spencer a passing score is a passing score, don't be that guy asking the board to review a score on a passing test, not a good look.

18 months is fair, dont change it. It's hard for a reason. It's a short-ish time span for a reason. We all have our hardships and difficulties during the exams. 18 months no change.

AUD - 85
BEC - 89
FAR - 91
REG - 97

[Ana]

my issue is that saying 18 months is misleading. if you take out black out months, time it takes to receive scores, then submit application by mail, wait for ok to choose, then pay, then schedule, and then their shenanigans of q2 2017 where it was delayed by 4 months then it's really about 8-12 months at best. call it what it is but don't say it's 18 months.
not to mention other states extended it by 4-12 months…so it's not even universal.

BEC - 78
AUD - 75
REG - 64, 77
FAR - 73, 73, 73, 82
Ethics: 74, 84, 98
Finally done after 23 months.

[Author]

Replies