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If I Pass the Cpa Exam Do I Ever Have to Take It Again

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What I wish I had known earlier taking the CPA Exam

Past Amina Doleh March 15, 2019, xi:fifty a.thousand. EDT three Min Read

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When I graduated college, I knew I wanted to get my CPA license and that I had to pass the four sections of the CPA Exam to get it. But what does obtaining your CPA license entail? Here is some information that I take nerveless that you may want to know before starting the process of getting your ain CPA license.

  • The application takes a while the first time around. While I applied to get my beginning notice to schedule (NTS) in June, I did non receive it until August. It took a total of 9 weeks for me to obtain it. Summer is the busiest fourth dimension of the yr for CPA applications, and so employ early and assume the application volition accept at least vi weeks to go through. Any other time of the year, your NTS takes around from three to six weeks to arrive. In most states, the NTS is good for 6 months in one case you receive information technology and y'all can apply for more than one section at once. When you reapply, receiving your NTS commonly only takes a few days.
  • Be aware of the blackout periods. Coma periods are times when you cannot take any exam sections. The blackout periods are in March, June, September and December from the xith to the end of each month. These blackout periods intermission out each testing window. For instance, the first testing window is from January 1 to March 10. You cannot have the aforementioned exam section in the same testing window. If y'all plan a tentative schedule, you can hands avoid accidentally planning to have a department of the CPA Test when y'all can't accept it.
  • The NTS is merely good once and fees are charged every fourth dimension you schedule. If you lot neglect an exam, you take to utilize for a new NTS earlier you can schedule to retake information technology. Fees vary depending on each state; notwithstanding, they are by and large made up of 3 types: application fees, exam fees, and registration fees. The application fee is a quondam fee only charged to first-time applicants. Registration fees are only charged for reapplications, while examination fees are charged every time you utilise. In the long run, it is cheaper to apply for more than sections at one time than one at a time. Equally mentioned above, the NTS expires in six months, so yous do not want to apply for more sections than you believe you will exist prepare to take in that time.
  • The passing rates: Below are the average passing rates per quarter from 2006-2018 past section. Although the passing rates vary per quarter, information technology is not due to the exam being easier or harder to pass throughout the year. Co-ordinate to the American Plant of CPAs' website, "An increase in laissez passer rates simply ways that the candidates are better prepared." Therefore, the lower passing rates in the first and fourth quarter are likely due to busy flavor and the holidays taking the focus away from testing for the CPA Exam.
AT-013119-CPA Exam pass rates by quarter
  • You tin can practice and learn what areas to focus your studies. If you have never seen how the CPA is formatted, exercise non go into the test clueless. The AICPA has CPA Test sample tests on their website that illustrate the look of the actual sections of the CPA Exam. This includes a handful of multiple-choice questions, the figurer you lot would have to utilise, job-based simulations, administrative literature, and written communication questions for the BEC section. The AICPA website also provides CPA Exam Blueprints that interruption downwards what is included in each department. It provides how each area is tested and to what extent it is tested.
  • In that location'southward no cookie-cutter approach to studying. Everybody studies and learns differently; what works for 1 person may not work for yous or vice versa. You demand to figure out what works for y'all and how you lot acquire best. The study textile is mostly the largest cost of the CPA Exam procedure. Even if you work for a firm that will help pay for the costs, they volition usually limit the amount they are willing to pay. Earlier you buy anything, notice out how much your employer is willing to cover and encounter if anyone has study material that they are not using anymore, or they could share with yous.

    • Obtaining your CPA license is difficult, but not impossible. Plan when you are going to have your exams, apply for multiple exams based on your schedule, and figure out how you written report best. Split the cost of written report fabric with someone if you can and use the AICPA website to exercise and empathise what areas to focus your studies. By post-obit these guidelines, the CPA exam process will be a piffling scrap smoother.

    Staff revenue enhancement auditor, Maloney + Novotny

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    Source: https://www.accountingtoday.com/opinion/what-i-wish-i-had-known-before-taking-the-cpa-exam