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NTS (Notice to Schedule) – More and More $$$

September 3, 2008


I haven’t even started taking the tests, and procrastination has set in.  
 
On July 27, I promised myself I would send off the Notice to Schedule (NTS) in two weeks.  Here we are, four weeks later, and I’m finally sending it off.  
 
Just to review:  In order to Sit for the CPA, you have to fill out and send this thing.
 
In Connecticut, you have to do the following:
 
Go to NASBA website
 
and find your state.  Here is the Connecticut site

 

 
 

 

 


Additionally, you need to fill out THIS FORM


And give CPA Exam Services a pile of money.  Today, I’m giving them a $135 application fee, as well as $226.28 for Auditing and $190.50 for Regulation.
 
Remember, you should only apply for tests that you plan on taking within 6 months of applying for the NTS.  
 
So, I spent a total if $552 today on fees.  Now I wait 8 weeks until I schedule my first test.  I’m aiming to take Auditing in late November.
 
Oh, and I haven’t really been studying much lately either.  No excuses.  Actually, I could probably come up with about a dozen excuses (time with kids, work, business trips, Grad school research, vital time at the beach, playing video games, blogging, ect.).  However, excuses are like belly buttons.  Everyone’s got one.  So I can’t let that stand in my way.
 
Now, back to studying.
 

Here is Part II, Harold Rosenbaum, Chartered Accountant Extreme


Money: $3,327

Time: 10 Hours

“The opinions of this blog represent the opinions of the author and are not subject to review prior to posting by the CSCPA or any of its affinity partners. The blog is one of several forums facilitated by the CSCPA to increase networking and sharing of information among young and new accounting professionals.”

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Recommendations

August 9, 2008

I haven’t’ posted in two weeks. I have no excuse. I haven’t been studying either. Ugg… Oh well…

I have some random recommendations today.
1.) Manager-Tools Podcast

I must confess: I am not a manager. No one reports to me. But, if you are a knowledge worker, you should find this site surprisingly refreshing and amazingly helpful.

If you are not a manager right now, listen to:
Building a network
or
Basics of Calendar Management.
Or

Your Resume Stinks!

If you ARE a manager or even a team leader, you need to listen to
The Single Most important management tool Part 1 and Part 2.

This stuff is fantastic. Listen to them all on your commute. I promise you, you will say “I wish my boss did this stuff.” You will not be disappointed.

2.) Getting things done.

Everyone who’s reading this is busy. This will reduce the stress in your life, I promise you. Everyone talks about time-management. Time, however, does not respond very well to being managed.

3.) Send your job interviews forward.

I got a call the other day for a job interview. I wasn’t interested. I told the guy “I’m sorry, I can’t come in, but… would you mind if I took your contact information? I know someone who might be perfect for a job.” I took down his information.
I knew three accounting students who might be interested. I called each one immediately. Within an hour, one of my friends had an interview. Before the week was out, she had a job offer.

This is what networking is all about. Jobs. Don’t waste opportunities when they come knocking. If you can’t use them, send it forward. I promise you, some day the friends you help will return the favor.
Now… 10 reasons I like being an accountant:

“The opinions of this blog represent the opinions of the author and are not subject to review prior to posting by the CSCPA or any of its affinity partners. The blog is one of several forums facilitated by the CSCPA to increase networking and sharing of information among young and new accounting professionals.”

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Free CPA Review? Good resourse, but you get what you pay for

July 21, 2008

New Readers Click Here

Free CPA Review? Good Resource, But You Get What You Pay For

Less than a week after I shelled out some serious dough for a CPA review course, I read an article about a free CPA review course online.

Here is the website: Free CPA Review. Cpareviewforfree.com

So… did I waste 2700 bucks?

Not really. The Free CPA Review site is a great resource. But its essentially a question bank. You can quiz yourself on various sections

of the Exam.

Can you pass the exam after studying only the info on this site? I don’t know. They certainly claim that you can. I’d like to talk to someone who has. However, there is no specific preparation for the written portion on this site.

FreeCpaReview echoes a lot of other information I read about the Exam. If you put in the time and effort, you will pass. If you don’t, you probably wont.

I will add this site to my study resources.

Also, I’ve been studying about 2 hours each weekday for Audit. I will probably take it at the end of November. I still haven’t sent my NTS (I’m having trouble with the school and transcripts, which is a very long, boring story. Ugg….) I may as well start studying early, right?

So Far:

Money: $2775

Time: 8 hours (Audit)

“The opinions of this blog represent the opinions of the author and are not subject to review prior to posting by the CSCPA or any of its affinity partners. The blog is one of several forums facilitated by the CSCPA to increase networking and sharing of information among young and new accounting professionals.”

Now for the Joke of the Day: I’m going to apologize in advance for extreme corniness.

Why didn’t Sherlock Holmes pay any income tax?

Brilliant deductions.

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Spending money

July 15, 2008

Last week, I sent away for Becker Review stuff.

Here are the stats.

Website for scheduling in Connecticut:

Phone: 1-800-868-3900
I spoke to a very nice person named Vicky. You can talk to her too if
you want, x2516

Cost: $2765. This is signing up for all 4 parts of the Exam, and
includes the CSCPA discount and the flashcards. I’m having some buyer’s remorse about the flashcards. Hmm… Maybe I shouldn’t have bought them.

It’s official. I will be starting the exam in January. I will start
with Audit. Come join me. Class starts in October in Rocky Hill.
A note about review course: There are many. Most range from about $700 – $1,500. These are non-interactive packets. Some have online instruction. I picked Becker simply because they have actual class time. I’ve been to seminars put on by Becker. The instructors seem like they care.
4 Programs to choose from

There’s also Wiley.

If anyone has gotten material from other review curses, I would love to hear about it. Was it good? Was it bad?

Becker costs twice as much. It’s a tough call. Think about what works best for you. I’ll let you know how it is when I start class in October.

Totals So Far:
Money: $2775
Time: 1 hour

In other news… I found this extremely cheesy video from the 1950s.
Harold Rosenbaum Chartered Accountant Extreme


Ledger Lad: Golly, I hope its asset depreciation!
I can’t wait to get the CPA secret decoder ring…

“The opinions of this blog represent the opinions of the author and are not subject to review prior to posting by the CSCPA or any of its affinity partners. The blog is one of several forums facilitated by the CSCPA to increase networking and sharing of information among young and new accounting professionals.”

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New Readers Read This

July 13, 2008

New Readers Read This.
In order to make this blog successful I need my readers to do 3 things.
1.) Subscribe.

Click on the button above. Set up a RSS feed.
Set up reminders so you know about new posts.
I’ll try to blog here about once a week.

2.) Comment.

A blog is nothing but a conversation. Join me, let me know who you are and how you are doing.

3.) Tell someone about this.

Only about 10% of those who take the CPA pass all four parts on their first try. Maybe less. Lets make a team, and pass it together.

Also, all of my resources for actually taking and passing the exam will be in step format. If you want forms or procedures for applying, go to Step 1, Step 2, ect. The rest of the posts are simply my musings and frustrations about studying and taking the exam.

Now, go back, look at all the posts. Leave Comments. Let others know about your experiences, or just stop by to say hi.

Welcome!

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Making More Time

July 3, 2008

Since the last posting, I’ve received some questions for the CPA Pledge Blog.

Caitlin asks, “How do you manage your study/exam prep time with work, kids, responsibilities, etc.”

Thanks for the fantastic question. I am a single father with primary custody. As a parent, student, and employee, I have many priorities demanding my time. On top of this, I am preparing for the CPA exam. How do I manage time? Well, I have a VERY understanding family, whose love and support I owe everything to. That said, here are some guidelines I follow.

1.) Schedule family time first.

This is incredibly cliché, but no one seems to know what it means. Many originations say “family first”, yet this seems to be the first thing to go.

On Sunday, plan your week. Schedule family time. Have a conversation with your spouse, or whomever you owe family time to. Some nights are late. Thursdays, for me, I don’t get home until 10:00 PM. But other days, I’m home much earlier. If I say I’ll be home for family at 5:30PM, it’s as important as any other meeting or appointment during my week. Have an honest conversation about time with your family, and keep your promises.

2.) Exercise for 30 min in the morning 5 days a week.

This seems counterintuitive. You say “I’m so busy and you want me to give up MORE time to do something else?” This works. Wake up 35 min earlier than you already do, and hop on your bike, run, step, or whatever. This is not ‘work out and watch TV’ time. You should be pushing yourself hard enough that you sweat and stink, and you can’t concentrate on anything else. Heart rate should be 80-90% of your maximum for the last 15 min. That’s HARD WORK.

As strange as it sounds, doing this will open up your day. You will get more done, I promise. Both George W. Bush and Barrack Obama work out every day, and their schedule is busier than yours.

3.) Be realistic.

You cannot work a full time job and take 4 night classes. You cannot commute an hour and a half each way and put in 60 hours a week.
Believe me, I know. I also know that some of you are trying to do this.

Have an honest conversation with your employer and your family about your obligations. There is a solution. Find it.

4.) Take a leave of absence, or quit your job.


Sounds extreme, but consider it.
Completing the CPA Exam and your 150 hours is the single best investment of your time and money. If you don’t have the time, make time. As soft as the economy is right now, you CAN get another job. Many will let you take some unpaid leave for a few months. Remember, completing your CPA makes you more valuable for them too. In January I quit my job as a buyer to focus on accounting. Yes, it was a strain on finances. And I loved the job. But working all day, taking classes and night, and communing an hour each way was too much. It was a tough decision, but the right one.

Take a long view of your goals. Getting the CPA certificate is difficult.
Don’t give up on this worthy goal.

Good news for the CPA Pledge Blog! The Connecticut Society of CPA’s will put this blog up on their website in the coming weeks. Special thanks to Caitlin Bailey, their Electronics Communication Coordinator and Art Renner, the Executive Director of the CSCPA

Caitlin Bailey

Art Renner

This blog was originally Caitlin’s idea. I’ve taken over the project, and am writing independently of any organization. Also…
“The opinions of this blog represent the opinions of the author and are not subject to review prior to posting by the CSCPA or any of its affinity partners. The blog is one of several forums facilitated by the CSCPA to increase networking and sharing of information among young and new accounting professionals.”

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Making a plan

June 28, 2008

Subscribe to this blog

So, how do you make a plan to take the CPA exam? one step at a time, I suppose.

Some common questions:


When should I take the exam? I just finished my accounting degree, but I’m really busy with work, school, and everything else. Should I take it after my 2 years, or after I get my 150 hours?

You should take it NOW. You will never have more time, and never be more prepared. Yeah, it would be nice if you could just take 6 months off, and make it happen. Sorry. You will NEVER have time. Not now, not ever. You have to make time. Your life is busy. It will only get busier.


How should I plan to take all four parts of the CPA exam?

I’m not advertising for Becker. However, they do have a nice video describing the process. So… except for the sales pitch, watch this vid. It had a lot of good info.
It’s a popup window

Exam Scheduling


You mentioned Becker. What’s your take on review courses in general?

Take one. Period. Here are four, each with discounts for CSCPA members. You ARE a CSCPA member, right? Of course you are.

Here are four review courses offered locally.

Exam Review

Its not realistic to pass the CPA Exam the first time without some sort of organized review course.

I don’t know how to ask this question, so I ‘m just going to ask it. How am I going to come up with the money for review course and fees? The review course is $2,000 or so, and the exam fees are close to $1,000. I can’t afford $3,000 right now. Help!

Great question!

Here is an application for a $3,000 scholarship. Its for someone who just finished their accounting degree, and is working on their 150 hour requirement. The application deadline is August 31, 2008.

CSCPA CANDIDATE AWARD.

Very few people actually apply for the scholarships offered by the CSPCPA.
ALL ACCOUNTING SCHOLARSHIPS OFFERED BY THE CSCPA

Here’s a picture of a surprisingly handsome devil winning a scholarship at the CSCPA.
CPA Pledge wining

—-

I will end this blog with a quick accountant joke.

There was an expert accountant who was well versed in the game theory. He once hears that his intelligent niece, who is five years old, always takes a nickel, when a choice between a nickel and a dime is offered. He explains to his niece “You must understand, dime is twice as valuable as a nickel, so always choose a dime.” The niece explains

“Uncle, but then people will not offer me any money.”


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Step 2 – Apply for the Exam

June 27, 2008

They make the exam process about as annoying as possible, as near as I can tell. You have to pass all four parts in an 18 month period.
Fine.

But… you have to file a notice to schedule. It takes two months to process. And this notice is only good for 6 months after that.
Oh, and you need to pay all the money up front.

Did that make sense?

Navigate through www.nasba.org site to figure it all out. Or, just use my links.

Here is the form to apply for the exam

CONNECTICUT FIRST-TIME APPLICATION FOR THE CPA EXAM

and here is the NASBA website where you get the forms for Connecticut

NASBA CT

If these links don’t work, please let me know.

So here I am, with the form. I have to send out transcript requests to my schools. I’ll probably send out the CPA Exam application in about two weeks.

Finding forms, filling them out

Time: 2 hours —
Money: 15$ for transcript requests.

In two weeks, when I send out the application, I will have spent a lot more. Oh, and fees go up on August 1st, just so you know.

I’m aiming to start taking the Exam in early January. More about study planing next post.

Until then, enjoy this random video.

The Great Office War

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Step 1 – Requirements For taking the CPA in Connecticut

June 27, 2008

The first step to taking the CPA Exam in Connecticut is qualifying.
The requirements are here, from the CSCPA website.

CPA EXAM REQUIREMENTS

Where do I stand in these requirements?

Bachelor’s Degree, 120 total semester hours– Check– Its not in accounting, but that does not
matter

24 Semester hours in accounting – Check– As of June 1st, I have exactly 24.

46 Semester hours in related subjects, “including but not limited to business law, economics, and finance, including accounting.” – Check

These are the requirements to sit for the CPA exam in Connecticut as of May 26, 2007. To have a CPA, one needs a total of 150 hours.

So… here I am, close to the state minimums, attempting the most difficult battery of tests that the state offers. Yikes.

Time: 4 years + of schooling
Money: I don’t even want to think about it

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CPA Exam Blog: The Beginning

June 27, 2008

Greetings readers!

This is the first post chronicling my quest to take and pass the CPA examination in Connecticut. My goal in writing this blog is simple:

1.) Share, and learn from others who are taking the CPA exam.
2.) Be accountable to myself. If I honestly report what I’m doing, I’ll be more likely to actually follow my study plan.

Hopefully, we will attract some people who have some insight on this difficult quest. I will post my progress, but more importantly, I will post things I learn.

Also, I will post both the time and money I have poured into this venture.

Good luck everyone

Time: 0 hours
Money: 0$