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Time Management for CPA Candidates 2
Denise ProbertCPA, CGMAWiley Director of Curriculum,Accounting Test Prep
Julie SnowWiley CPAexcel Product Support
Time Management for CPA Candidates 3
• CPA Exam overview
• Study time management
• Exam time management
• Pass THIS Fast: 18-month window
• Ask the expert!
Webinar Agenda
Time Management for CPA Candidates 5
CPA Exam
AUDITING AND ATTESTATION (AUD) 4HOURS
FINANCIAL ACCOUNTING AND REPORTING (FAR) 4HOURS
REGULATION (REG) 4HOURS
BUSINESS ENVIRONMENT AND CONCEPTS (BEC) 4HOURS
Time Management for CPA Candidates 6
Exam Weighting: AUD/FAR/REGMultiple-Choice Questions
Task-Based Simulations
CPA Exam
50%
50%
Time Management for CPA Candidates 7
Exam Weighting (BEC)Multiple-Choice Questions
Task-Based Simulations
Written Communications
CPA Exam
50%
35%
15%
Time Management for CPA Candidates 8
Higher-Order Cognitive SkillsCPA Exam
Skill Levels
Evaluation The examination or assessment of problems, and use of judgment to draw conclusions.
Analysis The examination and study of the interrelationships of separate areas in order to identify causes and find evidence to support inferences.
Application The use or demonstration of knowledge, concepts or techniques.
Remembering and understanding
The perception and comprehension of the significance of an area utilizing knowledge gained.
Time Management for CPA Candidates 9
Higher-Order Cognitive SkillsCPA Exam
Evaluation
Analysis
Application
Remembering and Understanding
AUD Exam Focus
FAR, REG, BEC Exam Focus
Time Management for CPA Candidates 11
• How much time do I needto study for each section?
Study Time
Time Management for CPA Candidates 12
• Plan to commit your nights and weekends to disciplined and focused studying
• 100-125 hours studying, on average, per section
OR
• Two-three dedicated months per section, on average
• Rounds out to twelve-eighteen months committed to studying and examinations
• Dream big!
Study Time
Time Management for CPA Candidates 13
• Step 1: Apply• Step 2: Start studying & simultaneously schedule exam(s)• Step 3: Sit for exam• Step 4: Repeat steps 2-3 for remaining three sections• NOTE: Schedule your exams a few months in advance, at a minimum, to
guarantee you a seat in the timeframe you require at your preferred location
Study Time
Time Management for CPA Candidates 14
• Use your Wiley CPAexcel exam planner to schedule every day of studying (or day off) until sit date
ü Carves out your study time for youü Keeps you on track with your review
materialsü Keeps you accountable
Study Time
Time Management for CPA Candidates 16
Study Time
• Utilize an exam planner
• Set goals, milestones, and rewards
• Plan ahead and make the most of all potential study time
Best Practices• Plan for the unexpected and be agile: Special
events or holidays, illness or unexpected time away from studying, blackout month
• Reflect on how you best concentrate when studying for an exam
• Music or no music
• Quiet location or active location
• At home or away
ü Commute/travel time
ü Lunch time
ü Mornings/evenings
ü Workouts
ü Waiting room
Time Management for CPA Candidates 18
Exam Time Management
AUDITING AND ATTESTATION (AUD)• 2 Multiple Choice Question (MCQ) testlets (36 questions each)• 3 Simulation testlets (8 task-based simulations total)
4HOURS
FINANCIAL ACCOUNTING AND REPORTING (FAR)• 2 MCQ testlets (33 questions each)• 3 Simulation testlets (8 task-based simulations total)
4HOURS
REGULATION (REG)• 2 MCQ testlets (38 questions each)• 3 Simulation testlets (8 task-based simulations total)
4HOURS
BUSINESS ENVIRONMENT AND CONCEPTS (BEC)• 2 MCQ testlets (31 questions each)• 2 Simulation testlets (4 task-based simulations total)• 1 Written Communication testlets (3 written communication tasks total)
4HOURS
Time Management for CPA Candidates 19
Exam Time Management
Five testlets• Optional break in
between each testlet
• Standardized break only between 3rd and 4th testlet, meaning the clock will stop
Exam Structure
MCQsMCQs
TBSsTBSs
TBSs or WCs
Time Management for CPA Candidates 20
Exam Time Management
Multi-stage testing:
Testlet 1medium
Testlet 2adifficult
Testlet 2bmedium
Testlet 3 Testlet 4 Testlet 5
Stronger performance
Weaker performance
Multiple choice question testlets Simulation testlets
Time Management for CPA Candidates 21
Exam Time Management
CPA Exam Time Management
• Written communications (WCs): Anticipate 15-20 minutes
• Have a time management plan for the exam
• Multiple-choice questions (MCQs)
ü Anticipate 1.5 minutes on average per MCQ
ü Leaving approximately 2.5 hours for remaining three testlets
• Task-based simulations (TBSs)
ü Simple TBS: Anticipate 10-15 minutes
ü Research TBS: Anticipate 5-10 minutes
ü Enhanced TBS or DRS: Anticipate 20-40 minutes
Time Management for CPA Candidates 22
Exam Time Management
Best Practices• Stick to your time management plan• Keep an eye on the clock• Stay calm and confident throughout• Move swiftly • Read carefully and completely – the examiners have given you enough time to do this
ü MCQs (commonly overlooked words: “not” or “false” or “except”)ü TBS instructions and resources
• Try to limit your breaks to just the standardized break so you do not lose time• If you are stuck, flag and return to question prior to submitting testlet• Use the authoritative literature for the research TBSs only• Leave nothing blank
Time Management for CPA Candidates 24
Testing WindowsManage The 18-month Countdown
TWO Months ON, ONE Month OFF
January February March
April May June
July August September
October November December
Time Management for CPA Candidates 25
Testing OrderManage The 18-month Countdown
REGFAR BECAUD
Suggested Order
18 months to pass beginning with your first pass
Time Management for CPA Candidates 26
Manage The 18-month Countdown
Countdown To CPA• You can pass this fast
• Upon completion of all four sections, consult desired state board for licensure (may require ethics exam as well)
ü Consider score release schedule (2-3 weeks post sit date)
ü Consider study plan (how many months of studying)
ü Consider your 18-month, rolling window countdown (from first
passing score)
FAR
AUD
REG
BEC
FROM YOUR FIRST PASSING SCORE, EIGHTEEN MONTHS REMAIN TO PASS THE REMAINING THREE SECTIONS
18
Time Management for CPA Candidates 27
Tailored ScheduleManage The 18-month Countdown
Sample 14-month study plan:2017/2018 November: Study December: Study
January: SIT February: Study March: Study
April: SIT May: Study June: Study
July: Study August: SIT September: Study
October: Study November: SIT December
Time Management for CPA Candidates 28
Manage The 18-month Countdown
Next Steps• Next steps:
ü Tailor a 12-month exam plan for you – today
ü Then, research and apply for the exams
ü Finally, obtain a CPA review package and start studying!
ü The sooner you start the sooner you are a CPA
Time Management for CPA Candidates 29
Manage The 18-month Countdown
ResourcesNASBA: https://nasba.org/exams/cpaexam/
Prometric: https://www.prometric.com/en-us/clients/cpa/Pages/landing.aspx
AICPA score release:http://www.aicpa.org/BecomeACPA/CPAExam/PsychometricsandScoring/ScoringInformation/Pages/FAQ2011ScoreRelease.aspx
AICPA sample test: http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/TutorialandSampleTest/Pages/default.aspx
Free six-month access to professional literature: http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/HowToPrepare/Pages/literature.aspx
Wiley CPA excel: https://www.efficientlearning.com/cpa/
Time Management for CPA Candidates 30
Manage The 18-month Countdown
Exam day checklist to success q Apply for and schedule examq Set up a study planq Learn, review, practice, perfectq Allocate your exam time beforehand and
stick with it on exam dayq Get plenty of rest the night before examq Eat a healthy meal before taking examq Get in a zone and block out distractions q Be confidentq Read carefullyq Relax
q Be optimistic q Overcome fatigue and frustrationsq Breatheq Recollect your thoughtsq Do not dwell on any one question too longq Answer every question to the best of your
abilityq Limit your use of the authoritative
literature databaseq Reflect: Use each exam experience and
apply it to future examsq Celebrate
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