A proper planning and design of your CPA exam schedule will make your life much easier and considerably increase your chance to pass the CPA exam within a year. I am going to walk you through my recommended way of scheduling your CPA exam sections and explain the reasons behind it.
Did You Know…
While the number of CPA is at a standstill, the passing rate of the CPA exam has been increasing. In 2003, the average passing rate of CPA exam was 43%. By 2009 it has jumped to 49%.
One of the reasons is that the computerized exam has allowed CPA candidates the flexibility to take the exam almost anytime during the year.
Then…
Prior to 2004, when the CPA exam was still in the pen-and-paper format, the exam was held in specific dates two times a year, which means that some candidates have no choice but to take multiple sections if they want to complete the exam within a year. No wonder the passing rate was considerably lower.
And Now…
The good news is, nowadays with the computerized format, the CPA candidate can work around their own schedules and take the CPA exam one at a time within the 18-month window.
My Recommendation In Designing Your CPA Exam Schedule
Obviously it depends largely on your commitment in family, work and many other things; but in general, I would recommend taking the CPA exam one at a time, because:
- You can focus 100% on that particular section of the exam
- You tend to do better after getting some exam-taking experience
- The CPA exam fee incurred is the same in anyway you take it (so why together and torture yourself?)
The Strategy
Follow these 3 simple rules and plan your CPA success!
1. Plan Ahead
Schedule your CPA exam evenly and avoid any possible crashes with important events in your (and your family’s) life, such as wedding, having a baby, anticipated career change and so on.
2. Plan To Complete The Exam Within 12 Months
Once you successfully completed the examination, the 18-month clock begins to tick.
For most candidates, this is doable as long as you put in sufficient time and effort. As you may know, once you complete one section, you will only have 18 months to pass the rest of the exam or risk retaking the sections you have completed.
I generally recommend spreading the 4 CPA exams somewhat evenly within one year instead of the full 18 months — not only that you can shorten the ordeal, but also that in case you have to postpone one section due to unexpected circumstances in life (you never know), you may still able to complete the CPA exam within the 18 month period.
3. Take The Toughest CPA Sections First
Some people may not agree with me, but I think it’s a good idea to get rid of the toughest ones first, because:
- Your energy level and the ability to focus is the highest at the beginning of the year-long study
- It feels so much better to have tackled the beast — the best motivation you can ever get to complete the rest of the CPA exams.
Along this line, I would recommend taking FAR first in particular because:
- FAR is the longest, but not necessarily the most difficult if you know accounting
- The exam questions more or less stick with the accounting coursework you have in school so you should take it when memory is still fresh
Then, take either AUD or REG…
AUD, it is a memorization of audit rules (e.g. the wordings required in an audit report) so as long as you have relatively good memory it shouldn’t be too hard. AUD is closely related to FAR so it makes sense to have the two parts taken closely together.
I find REG the most difficult myself (maybe I’m really not interested in the topic) so I also wanted to get it out of the way early.
In terms of AUD or REG first, everyone has a different background so please take a quick look at the syllabus and decide.
Save BEC for last
BEC is the shortest and easiest CPA exam in my opinion, and as far as I know most CPA candidates agree with me (BEC tricky though, but it’s another topic). Since you must be quite sick of all the studying by then, you will appreciate the decision of saving the easiest one at the end of your CPA exam journey.
One Last Note
Please don’t find it an absolute necessity to stick with this sequence, if you feel like taking a particular one first or last. As long as you have put in your thoughts and plan ahead, you will be able to optimize your time and energy on the CPA exam preparation.
Best of luck!
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* Photograph courtesy of Simpologist
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{ 2 comments }
Dear Stephanie,
thank you for your great web site! It’s very helpful. I come from Germany and plan to take the CPA exam this year. I thought of splitting it into 2 parts. I would then have to fly twice in the US. Would you recommend to take FAR and BEC first and AUD and REG later on? Is this a good combination? To my background: I do not know much about the US GAAP but I have a pretty good knowledge of IFRS as I work for a public accounting firm. I would be very greatful for your advice!
Many thanks!
Best regards,
Vladimir
my question is similar to the above question but i am from India but from accounting background. however, i am very new to US GAAP and IFRS. In view of the 2011 changes, would it be right to start CPA with FAR and BEC as the first parts to appear for the first time in 2012?