Hello fellow geeks.

has anyone took the CPA exam?

I am planning to take it soon and have some questions, if anyone can be helpful on this matter.
I'm in the process right now. Let me know your questions, maybe I can help.
I have done my research and picked a state that suits me, Virginia.
there is something I did not quite understand, when I file the application I have to pick the sections i want to take within 6 months? or I can pick all 4 sections and have the 18 months period?

Are you doing this on your own, by just buying study yourself review courses? what courses did you pick?

last question, is there any hope at the end of that tunnel :)
I did the CPA Exam and passed all for levels in a one year manner for the whole sections but AICPA will make in tougher in 2016 (16 hours for all sections instead of 14) :)

https://www.aicpa.org/press/pressreleases/2015/pages/aicpa-exposure-draft-next-cpa-exam.aspx


I got the following Scores:

Financial Accounting and Reporting (FAR) - 10/01/2015 - 90 ( 4 hours ) / (90 MSQ) and seven task-based simulations)
Auditing and Attestation (AUD) - 10/06/2015 - 94 ( 4 Hours) / 90 MSQ and seven task-based simulations
Business Environment and Concepts (BEC)- 10/10/2015 - 81 (3 Hours)/ (72 MSQ) and three written communications tasks)
Regulation - (REG) - 10/15/2015 - 88 (3 hours) / (72 MSQ and six task-based simulations)



Total Examination Hours: 14 Hours / 60% multiple-choice and 40% simulations for the AUD, FAR and REG sections; 85% multiple-choice and 15% written communications for the BEC section

The Minimum Passing Score of Each Section is 75 on a Scale of 100 , Each Section has 3 Testlets , you did bad on the 1st you must do better on the 2nd and 3rd (kind of an adaptable way of scoring and some testlets might be harder or easier than the other )

Testing Windows:

January-February
April-May
July-August
October-November
-If you failed one section you cannot repeat it on the same testing window

To be Licensed:

Complete 150 Hours of Semester Studying ( I Did an MBA beside of a BSc)
In the 150 Hours Credits ( 8 Accounting Courses or 8*3 = 24 Credits and to sit for the exam only a Minimum of 5 Accounting Courses or 15 Credits)
A Minimum of Two Years of Auditing Experience in a CPA Licensed Audit Firm (Local or International) / None CPA licensed accounting experience are now also acceptable by most states.
Pass the Exam (All Four Sections with a Minimum score of 75 of each section)
Pass a Small Ethics Exam


Investing for the CPA :

Morgan (Becker Study Material , Online Bank Testing , Mock Exams): 3100 USD
Application Fee: 150
Registration Fees (4 Exam Sections) : 130
Exams Fees ( 192 (FAR) + 192 (AUD) + 172 (REG) + 172 (BEC) ) an Average Total of: 728 - 750
Annual Membership Dues for AICPA : 245 - 435 Depending on your Post
Ethics Exam: 160 USD

On Average Around USD 5000 to Invest in the CPA Exam and pass it in a one time. A candidate must pass all four parts within an 18 month period of time or 1 Year and the Half when he/she fills his application.


Studying Strategy:

Not Nuclear Science but Yes it is tough need a lot of preparation to tackle all the sections , I found FAR is the hardest and BEC being the easiest with a passing rate of 50% on average on each section - worldwide. Lot of exercises, mock exams , Morgan one one One Tutoring , etc.. will nail it for you.

If you are in the world of Auditing , a Potential CFO go for it for sure , CMA + MBA is also a very good combination. But for me CFA is the toughest which I begin preparing for it.
Thank you for all these information. and Congrats, great scored!

Let me first correct a couple of things:

1. Most States do require a CPA to be your supervisor (a couple doesn't require to be your direct supervisor but a CPA you know)
2. Exam fees are around 1,200$ when taken outside of the US.(around 300/Section)

I am mainly interested in picking the right review course. I am leaning toward Wiley CPA Excel since it's cheaper than becker with good reputation.

and the studying manner. how much time should I spend on preparing for each section. what's more important reading texts or practicing MCQs and SIMs
did you attend live classes? or relied solely on review courses?

Another question: what do you mean by testing window? A prometric center has many windows, so whenever I fail i'll have to schedule in another window but in the same location? or I'll have to take it in another location? Iam planning to sit for the exam in Beirut.

did you go through education evaluation?
- Wiley CPA Excel is great but I prefer Becker and to Register by Morgan (Beirut Downtown) that helped in all the process from start to finish including exams registrations etc..

-About the pricing yes you are correct about 300 USD per exam (I was considering In state, yes I a paid a Total of 1200 USD for exams)

-You need both practice and read, allocate 4 hours a day as a minimum and it depends whether you want to take exams consecutively or wait for the other testing window. Rule of thumb more preparations = more chances to pass and get the 75 minimum , no specific time. Study Harder you have much higher chances , and do several mock exams that mimic the actual exam environment in that manner your will tackle the physiological stress of time constraints.

-Testing window are different than pro metric places, it means assume you did the exam in the testing window October November , You failed FAR for example in October you cannot make or repeat in October or November (same testing window) you need to wait for the second testing window in beginning January regardless pf the location.


-Education Evaluation is done through NASAB Internatioanl Education Services for people who completed outside the USA - https://nasba.org/products/nasbainternationalevaluationservices/ - any University which is Accredited no problems

Yes the report is needed when you apply for the CPA application in the state you are considering.