Tips and tricks for students to prepare for Certified Public Accountant exam

CPA qualification not only bridges the gap between academic knowledge and job requirements but also enhances career opportunities globally.

The Certified Public Accountant (CPA) designation is a significant certification that equips professionals with a diverse and highly sought-after skill set. This qualification not only bridges the gap between academic knowledge and job requirements but also enhances career opportunities globally.

For many students balancing a busy work life and pursuing the US CPA certification can seem overwhelming. (Unsplash/Scott Graham)

The CPA Exam, a comprehensive four-part examination developed by the American Institute of Certified Public Accountants (AICPA) and administered by the National Association of State Boards of Accountancy (NASBA), specializes in US Generally Accepted Accounting Principles (GAAP) and US Generally Accepted Auditing Standards (GAAS).

For many students balancing a busy work life and pursuing the US CPA certification can seem overwhelming. However, with the right strategies and mindset, achieving elevated professional status in financial reporting and auditing is entirely possible.

Below are some effective CPA Exam preparation techniques

Determine Your Eligibility:

• Hold a bachelor’s degree from a prestigious institution.

• Complete 120 credit hours to sit for the exam; 150 credit hours are required for licensure.

• Review additional state-specific requirements.

Take Your Evaluation:

• Submit all academic transcripts to your chosen state board of accountancy.

• Pay the required fee.

Submit Your Exam Application and Fee:

• Apply for the CPA exam and submit the necessary documentation.

• Pay the application fee.

Obtain Authorization to Test (ATT):

• Receive ATT from the state board and sign up for the exam within 90 days.

• Pay the exam section fees.

Verify Your Notice to Schedule (NTS):

• Receive and verify the NTS, which allows you to schedule your exam sections.

Schedule Your Exam:

• Schedule your exam sections at a Prometric testing center.

• Choose your preferred date, location, and exam sections.

Pass the Uniform CPA Exam:

• Successfully complete all four sections of the CPA exam.

Obtain US CPA Licensure:

• Complete the required 150 credit hours and relevant work experience.

• Pass the Ethics exam required by your state.

Some study tips and tricks:

Create a Detailed Study Plan:

• Develop a feasible study routine considering your work schedule.

• Break down the exam syllabus into manageable portions and set realistic deadlines.

Select Quality Study Materials:

• Choose reliable review courses and study materials.

• Consider good expert lectures, online resources, and study groups for the preparation.

Effective Time Management:

• Prioritize your study sessions and avoid distractions.

• Utilize work breaks, weekends, and early mornings for study time.

• Take short breaks during study sessions to increase productivity.

Learn, Revise, and Repeat:

• Understand the syllabus thoroughly and identify your weak areas especially.

• Start with basic concepts and gradually move to more difficult topics.

• Revise daily to strengthen your learning.

Practice with Mock Tests:

• Schedule regular mock tests to be well prepared during the main exam.

• Self-assess your performance and identify mistakes.

Join Study Groups:

• Connect with fellow students through virtual study groups

• Discuss challenging topics and questions to gain others’ perspectives.

Stay Motivated:

• Keep your goal in mind and stay motivated throughout your preparation.

• Celebrate small victories and maintain a positive attitude.

If you follow this structured study routine, quality review courses, effective time management, and sustained motivation, you can successfully balance your work and study commitments.

The CPA credential will significantly enhance your career prospects and earning potential, making it a valuable investment in your professional future. Good luck to all CPA aspirants!

(Authored by Sripal Jain, CA, CPA, Co-Founder and Global Instructor at Simandhar Education. Views are personal)