"Things turn out the best for the people who make the best of the way things turn out."

June 9, 2013

Time FLEW by, but I finished!!

BEC: 111 hours/Score: 79 PASS April 2011
FAR: 159 hours/Score: 78 PASS May 2011
AUD: 103 hours/Score: 74! FAIL
AUD 2nd try: 60 hours/Score: 81 PASS May 2012

REG: 130 hours/Score: 73! FAIL
REG 2nd try: 90 hours/Score: 78 PASS October 2012
Ethics Exam: Passed
Total Hours Sacrificed: 653


I want to start out this post by saying I am officially DONE with the exam! I actually passed the last part in October 2012. I cannot express how amazing it felt to refresh the NASBA score page and see that last passing score!! AMAZING! Such a HUGE weight off my shoulders - for a few reasons as I will explain below...

Since it has been so long since my last post, I wanted to outline what has happened since:

October 2011: I started full time at a Big 4 accounting firm. From the date I started, I had exactly 1 year to pass all 4 parts of the exam to get the full $5,000 bonus. As I had posted before, this was now my goal.

November 2011: My REG NTS was set to expire and although I was able to take time off of work to study, I was still adjusting to my new job and trying to get back into the swing of things with the exams. I decided to let the NTS expire and pick studying back up after my first "busy season".

April 2012: December through March just flew by. Work was so busy that I didn't even have a chance to think about studying! I applied for a new NTS for both REG and AUD. I couldn't believe after an entire year I was still only halfway done! That also meant I only had about 6 months remaining before the parts I passed would start expiring.
    
May 2012: I re-took audit. I have to say that I felt much more confident with the multiple choice this time but not with the Sims. I felt like some of them were hard to interpret. Again, time was not an issue at all. I had plently left for the Sims, so I did take my time to attempt to use the research function.
    
June 2012: Found out I passed AUD!! This was such a great feeling!! With only one part remaining, I felt like it was still possible to finish this before I lost the bonus and any parts I had already passed. I started studying for REG again and planned to take it toward the end of the July/August window.  Although I had started studying in 2011, I basically had to start from scratch. Of all the parts of the exam, REG was the worst for me to study for because I struggled so much remembering the tax portion of the exam. That and I certainly struggled with studying during the summer while it was so beautiful outside. Also, my Becker was scheduled to expire this month. I really think Becker's 18 month expiration does not make sense even though they claim it lines up with the 18 month expiration of the exam. What they do not factor in is the initial time it takes to apply and study for the first part of the exam. I decided to write them and request a 90 day extension and thankfully they granted it to me at no cost. I give them a lot of credit for doing that! THANKS BECKER!
   
August 2012: I took REG toward the end of the month. I struggled with the material the entire time I studied and it showed during the exam. I couldn't get keep the tax information straight in my head and the Sims were really difficult. Needless to say, I felt very defeated walking out of that exam. I was not looking forward to checking my score.

September 2012: It was score day and I was extremely nervous. I wanted so much to just be done with this exam! If I didn't pass, I only had 1 chance left before losing both BEC and FAR as well as the full bonus. Needless to say, I didn't pass. When I refreshed and saw a 73 I was not exactly surprised but it still felt terrible. I felt like I was doomed. I basically had 1 month to study again for REG and pass it. I really didn't think I could do it. I did jump right back into studying and used Jeff's NINJA method (check it out at another71.com if you don't know already) to make the most of the little time I had.
   
October 2012: I had a difficult time deciding on a sit date for the exam. I was going to lose BEC on 10/31 and the bonus on 10/3. I decided to just force myself to sit on 10/1 and try my best. I felt more prepared, but the exam was still really challenging. I really wasn't sure what to expect when my score came out.
 
November 2012: It was score day again. I was at work and I debated waiting until I got home to check my score, but I just couldn't. Unless you have gone through this, you can't begin to understand how much seeing a 75 or better means when you click refresh. For me it literally meant the difference between being done and basically starting over with only one part that wouldn't expire if I failed. It also meant the difference between $5,000 and possibly no bonus at all. I literally held my breath and covered the score part of the screen with my hand as I hit refresh. I slowly moved my hand to reveal my score - a 78! I just couldn't believe it! I had a rush of emotions. It felt so AMAZING!!
 
March 2013: I was still over the moon about being done! After having a second busy season under my belt, I took and passed the ethics exam which is required in my state (CT). It was a breeze to prepare for and take compared to any part of the exam. Nothing to stress about at all. Now I all I have to do is wait to meet the experience requirement which is 104 weeks in CT. I should meet that sometime in July and then I can apply for my license!
 
So that basically sums it up! It was almost 2 years from the time I ordered my Becker books and I passed my final exam. It was filled with many challenges, but I was able to overcome them and finally put this behind me. I have lots of advice of things I learned along the way, but I think I will try to sum that up in my next post. For now, if you have any questions, please leave a comment or even message me. I would be happy to help!
  


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