Individuals interested in becoming certified public accountants must first pass the CPA exam. Having a strategy to prepare for the CPA exam can help to increase your chances of passing it the first time. Keep reading to learn four ways to prepare for this exam.
1. Create a Study Schedule
The American Institute of CPAs, or AICPA, recommends test-takers spend between 300 and 400 hours prepping for the CPA exam. As with any test, cramming at the last minute is rarely effective. To give yourself plenty of time to review all the relevant material, take practice tests and plan to start your prep well in advance (preferably a year or more out from when you plan to take the exam). To help structure your studies, consider creating a study schedule. Break down the material you need to cover, as well as the number of hours you are able to dedicate to studying and reviewing each week.
2. Choose the Right Form of Study for You
Everyone learns information in different ways. If you’re a visual learner, reading the material and creating notes, charts, and graphs might help you to better retain what you’re studying. Others will learn better with the use of videos. Some learners may require a structured learning environment to stay motivated, like a certificate in CPA exam prep. Before you dive into studying for the exam, consider how you learn best. Then, plan to focus on this method during your study sessions.
3. Pursue a Master’s Degree
Whether you want to ensure you cover all relevant information while studying for the exam or need structure to stay motivated and on track, pursuing an advanced degree may be just the answer. In particular, your focus could be on pursuing an MBA in accounting, which not only will allow you to prepare and pass the CPA exam but can also open new doors for an exciting career in accounting. Studies show that test-takers with a graduate degree had a higher pass rate than those who hold only a bachelor’s degree.
4. Take a Sample Test — Or Two
Taking practice tests ahead of your exam date serves a couple of important purposes. First, it helps test-takers to better learn what they can expect from the exam. You’ll learn how questions are structured and how long it takes to complete the test. Second, taking a practice exam in the middle of your studies also gives you a chance to identify any areas of study you need to focus on in order to improve your knowledge. You can also take another sample exam just before the actual exam to set your mind at ease that you’ve prepared to the best of your abilities and relieve your test-day nerves. Sample CPA exams are available online to test your skills.
Preparing to Pass the CPA Exam
If you’re ready to take on the CPA exam, know that proper preparation is a must. From choosing the right course of study to creating a schedule and taking sample tests, these tips and more can help you to feel better prepared so that you can continue on your journey to becoming a certified public accountant.