Received my NTS via email today. Registered to take REG on 4/15 and AUD on 5/23. I was hoping to take it later but that was the last day available. Is it symbolic that I am taking REG on tax day, I think so!

Almost done first section of cramming for REG. Gotta love taxes. Speaking of taxes, mine are almost done. The boyfriend is completing his expense report so we know how to split the house deductions. He must hate it that I’m making him document everything. I just give him a look and he takes it in stride. This weekend, I am forcing him to get a separate credit card for his business. Going through a years worth of bank and credit card statements wasn’t fun for him at all. I showed him how his credit card creates a summary of his charges. That helped him out a lot, but his debit card he had to review manually. I probably should have told him he could download it into Excel and then sort in ascending order, but maybe after everything is done and signed. I love to torture him. 

Back to my studies………

I was finally able to sign up to get my NTS today. PA has a 48 hour wait. Ironic how you can get your test results less than 24 hrs after NASBA releases them, but you then have to wait 48 hours before you can sign up to retake failed sections. Does that make any sense? I want to give them money and I want to take this test, but I have to wait. I wonder if they do this to make sure candidates are really ready to take it again. I was very confident this morning and I will be ready to take this test all over again. 

In addition to selecting REG, I selected AUD. I have two sections I am going to pass, that’s right failure isn’t an option, in the second window of 2011. I usually only take one test a window, but I can no longer afford that option. My 18 month window is ticking!

I haven’t gotten my mail yet, but I think my diagnostic is coming today. This will help me focus my studying for round #2 of REG. I am confident that it will say partnerships were a weakness. I found basis difficult for me to correctly calculate. I will have to find some help on this topic. I might go to my boss for some further explanation or find a forum that can explain it. Any suggestions? 

Oh and I found out while waiting for my results, the “loophole” doesn’t work in PA. When I went to re-register on Thursday and Friday to take REG, REG was greyed out in my selection listing. I could not click the box to sign up to sit for the section. The urban legend says that if you passed a section, when you go to re-register on the site, you can not select it. If you are able to re-register for any section, you failed. The synopsis is, if you passed your state won’t let you sign up to take that section of the exam. Well, that was a lie. It is due to the 48 hour wait. I am sure there is a method to the madness, but don’t try to loophole in PA. Wait the 24 hours for NASBA to release, and AICPA to upload your score. 

I last left off with my gray period…

I completed my 4th and final class, paid for the NTS, scheduled the exam, and never sat. I left my NTS expire. 

I blame no one but myself, but that is why I wanted to blog about my experience. At this time in my CPA process, I had started a new job. This job had a big commute and took away from my studying time. Unfortunately, I was later laid off from this position and spent the next 2 months searching for a new job. This is also why I ended my last post about NTS’s and scheduling. I had an unfortunate circumstance. For me this was very upsetting and not conducive to my studying. The one thing I was absolutely happy about from that experience was I didn’t pay for all 4 parts at once. I would have had too many activities on my plate. I would not have given this exam the focus it rightly deserves. I know some people thrive in that pressure and pass with no problem, but that is not my experience nor how I function.

I do like to report I am employed for almost 2 years now after being laid off. It was a time I might blog about later, but right now, its CPA exam time and I digress. 

After I found job security, a place to live, and had steady finances, I decided to tackle the CPA exam again. I enrolled in the same program as before and hit the books hard again. I began where I last left off, FAR. This would be my second time taking the course, so I was very familiar with the instructor and material.

I received my NTS, set a date, and took the exam. The envelope came and this time it was a 62. At this moment, I was confused. Why did something I had such a passion for seem to be slipping away from me? After a serious talk with an old colleague and my boyfriend, I decided it wasn’t me but my review course. 

I was taking this test for now 3 years, and it still baffled me as to why I couldn’t pass. I graduated college Summa Cum Laude with a 3.91, started a business club on campus, came back from a job loss, and gave up significant amounts of time with family and friends to achieve this ultimate goal in life, a CPA designation. What gives! I realized I only relied on one source for material this whole time. I wasn’t getting a fully rounded review course. I do not blame my instructor or the course material. My mind needed more information to fully understand the material I needed to know for this exam. (As previously noted, I will privately let you know the courses I have taken if inquiring minds need to know.)

After research and inquiry from fellow friends and colleagues, I settled on a new course, literally. I again toiled away for hours studying and practicing as instructed. I was soon ready to take the exam and then I had a personal emergency. I ended up in the ER and on the couch for 3 weeks in pain and unable to concentrate on studying. I was able to reschedule my FAR test. Again I will reiterate from an earlier post, I never paid for more than 2 tests on my NTS. I did pay for FAR and REG, but only scheduled FAR. To say the least, I was happy to reschedule my exam with out any fear hanging over my head. 

I sat for FAR in November 2010. It was two weeks before Thanksgiving. I was ready for the holiday break and welcomed a short study break. To my surprise, I received the NASBA envelope 2 weeks later. I remember the exact placement of my furniture and who was in the room. I opened the envelope with shaky hands and screamed, literally screamed so loud my throat was sore for a good day, to see a 80! I PASSED. 

My previous post, I have answered why a CPA. Now, I want to get to the point! That point being, I started this blog to begin logging my studies, vent my frustrations, ask questions, and offer any help to other fellow examiners. 

If it helps anyone reading this rant, I began this process in 2007. Not very proud at this moment because it is now 2011. I haven’t been exactly dedicated the last 4 years to my studies, hence why I am still taking this exam!

I first studied for BEC. I thought fresh out of school BEC would be the easiest. I was wrong. My self studying didn’t get me very far. I got a 50. I was absolutely devastated. Regardless, I got back up on that horse, and enrolled in a review course. (NOTE: I won’t mention any review courses specifically, but if inquiring minds need to know you can ask me privately). I chose to do live classes for all 4 parts in an 8 month process. To say the least, it was a major shock and adjustment to my life that I wasn’t prepared for.

This time, I began with AUD. I made a schedule, stayed on task with all the homework assigned in class and practiced MCQs until my hand hurt. I sat for the exam and waited and waited and waited…did I mention I waited…yes it did feel like a century passed before I got that envelope in the mail. I held my breathe and opened a 74. While the AUD wait was going on, I moved on to class #2 BEC. I already was knee deep studying for BEC when that score came in the mail. I decided the just add AUD to the end of the list of sections still to take. 

I sat for BEC and 2 weeks later began class #3 REG. I was half way through REG when I received a 68. This is what I call the gray period. At this point, I was mentally not even prepared to finish the rest of the course, but I did. I went to every class, even #4 FAR. I decided to add BEC to the end of the list, focus on the last class and pass “the most difficult” part first. That would give me the motivation I needed to pass a part, any part. 

Before I end here and continue the drama in the next post, I want to outline how I scheduled my NTS’s. My first NTS for BEC, I only signed up for BEC. The second round, I signed up for AUD and BEC. I have only ever signed up for 2 tests at a time. For me personally, this is my preference. A NTS expires after 6 months. I didn’t want to spend the money then have an emergency that would prevent me from sitting. I consider that a waste of money. 

To be continued in the next post.