"Certified Public Accountant" is a coveted title in the accounting profession, but it’s also notoriously hard to earn. The Uniform CPA Examination includes four parts that assess your knowledge in financial accounting and reporting, auditing and attestation, business environments and concepts, and regulation — and you have to pass all four in an 18-month period. Here’s how I went about studying for and ultimately passing the CPA exam.
What you need to know before taking the exam
Requirements vary by state, so before you get started with your studies, it’s essential to know exactly what you need to both sit for the CPA exam and to earn licensure. I chose to get certified in Michigan, which requires candidates to have at least a bachelor’s degree to sit for the exam, plus 2,000 hours of accounting experience for licensure. To reach these goals, I first earned my undergraduate degree in accounting and finance, as well as an MBA, from Loyola University in Chicago.
I covered some of my hours of experience during an internship at Plante Moran and completed the rest at my job after graduating. (The hours can be from internships or can accrue once you begin working, as long as they are under the supervision of a licensed CPA.) When it came to the CPA exam, I made the decision to tackle it while I was in school.
A personalized, targeted study plan
One of the biggest decisions aspiring CPAs have to make is determining the best time to start studying for the exam. Bear in mind that the American Institute of CPAs recommends 400 hours of studying to pass all four parts, and you have to restart the process if you fail. For me, the best study plan included day-to-day studies for several hours. It was essential for me to take breaks and allow my brain to rest. Forcing yourself to study for hours is not generally the best studying technique. Try to study one concept at a time to ensure you know the information, take a break, then quiz yourself to see how much you can remember after the break.
I’m a pen-and-paper person, so I had notebooks where I would write down notes from the online videos I watched. As I worked through the topics I needed to master, I realized the perfect time to take the test would never come. I registered to take the first part in two months and continued studying with the due date in mind. Working toward a clear goal kept me motivated, and a couple of key tools helped me learn the material that I would need for the exam and my job.
Starting with CPA exam blueprints
The AICPA publishes CPA Exam Blueprints once or twice a year. This information helps you identify not only topics that will be on the exam, but how the topics will be tested on the exam. It also includes score weighting, reference materials and examples of tasks. You can use this information to organize your study timetable by determining what you know and don’t know. (It helps to focus your studying time heavily on the information you don’t know.) Try keeping a list of topics that you’re unfamiliar with, as well as short explanations of those topics.
Finding the right review course
I realized early in my studies that I needed to take practice tests to pass my exams. I used
I also studied the online video lessons and took notes in between practice tests. After I passed the first part of the exam, I realized that I had actually overstudied, and I readjusted for the remaining three parts to achieve a better balance between my school work and studying for the exam. By focusing on my weaker areas and refreshing my areas of strength based on my performance, I was able to improve my test results. I also continued to use practice exams and questions during this time.
Once I gauged my preparedness in a specific topic, I could choose to study or take more practice questions to strengthen my weak areas — and avoid overstudying.
Maintaining focus
Another challenge on the road to becoming a CPA is avoiding distractions and staying on track. For me, staying on track meant juggling exam preparation and planning a pandemic wedding. I also had to adjust when my testing dates were postponed twice. It was hard, but I worked to plan out not just my study schedule, but my daily schedule to ensure that I had time to complete my school work and my studying. Having other tasks completed helped me to focus on studying for my exam.
Throughout the process, I let my family and friends know my goals and how earning a CPA would improve my career path. Feeling accountable to others helped me keep my focus and stick to my studying plan, and they supported me.
After I passed my exam, I landed a job in the assurance department at Plante Moran. Because I fast-tracked the preparation process, I can now focus on my rewarding career as a CPA.
