#17 Studying for the Exam
Feb 11th, 2009 by pfi
Studying for the CPA exam is an important step in any young accountant’s life. It demonstrates strength of will to put up with and study excessively dull accounting concepts. It shows that they are ready to accept the title of CPA and manage the painful, dream-shattering experience that is everyday at work.
The exam has four key exams and other requirements vary state by state. BEC, FAR, REG, and AUD are the four key sections to pass.
There exist countless study programs and materials for candidates. One program, Becker CPA, often subjects its students to awkward innuendo, including pink dresses and steroids. Maybe they figured exam candidates would better retain material questioning the instructor’s personal taste rather than what DR * CR * IR equals.
If you were to talk to recent (1-3 years) college graduates who work in public accounting, the odds are 95% in your favor that they are currently studying for the CPA exam. You can use to this your advantage by asking them what course they are using, which section they are studying for, and how they think they did on the last test.
The answers for questions #1 & #2 vary, but you can be assured that the #3 is a resounding, epic fail.
(Full disclosure: this author used Becker but is not endorsing any of the available courses to candidates.)
I love the old-school picture of Peter Olinto (can you tell I am currently studying for “the exam”?)
The best part of the Becker Course was watching Peter O’Linto wipe his forehead with hundred dollar bills and then proceed to make it rain all over the screen with them. That alone, got me through the months of studying.
My favorite moment was watching Tim Gearty explain intercompany eliminations for financial:
“…so I take all the income out of my pockets! Then I take all the dividends out of my pockets! Then I take all the DRUGS out of my….oh….nevermind…”
I used Becker about four years ago, and I’m just a little embarrassed that I knew right away that the guy in the picture was Peter Olinto. Why have I not forgotten him already?!?
i think it’s hilarious that everyone recognizes Olinto. He taught one of my review courses, and that was back during the pencil and paper exam days.
Can there be a post about how the generation of accountants who took the exam on paper like to let the wave that is taking the exam on computers know how difficult it was back in the day.
‘…how difficult it was back in the day.’ I crack up when I hear the paper and pencil taker’s say that.
1. There was a standard bank of questions that was used over and over each exam so if you got a good review course, you already had all the questions and correct answers for the exam.
2. On the essay parts, there was no penalty for incorrect information so you just put everything you had time to write down on the paper and hope that some of it was right.
Agree with you Mike… Old Timer’s think they had it so rough back in their time.
Also, I would have liked that blog to include the plugging of time that goes towards “Studying for the Exam”. The best part for me back in the days I was studying for it is when I went to go enter my time for the month; if i had some missing time or i had no idea what i did that day, i just plugged it to the time code for “Professional Development – Studying for CPA”!
hey that guy taught my ACC Intermediate I class in Baruch. And yes I’ve passed two parts as of this minute ,waiting to get results for the third one which I think I definitely failed. and I’m not even in public accounting.
i love peter olinto the italian ice!
OK – truth time: dosen’t the Becker music that is played at the begining of each section sound a lot like porn music?
yeah – kind of. Which film are you basing this on?
My Man. Peter Freaking Olinto. I’ve taken and passed the CPA exam using Becker. The instructors are ok, just boring, except this character…He is hysterical.
If you want consistent instruction for all 4 parts, try Roger Philipp. He’s a licensed CPA, is hysterical and has a crazy amount of energy that keeps you alert and entertained. Check him out @ http://www.rogercpareview.com
I passed in a heartbeat and his staff is awesome!!
Are you SURE “studying for the CPA exam” should fall under stuff accountants *like*??
More like “have to do” or “hate with a passion”
You have to remember that studying for the CPA exam, while painful, is a right of passage required to call yourself a professional. So, if you don’t “like” studying for the CPA exam, chances are you’re going to “hate” reviewing the changes from GAAP to IFRS or new SAS’s, tax law, etc. Our field is research driven, so becoming a scholar of accounting knowledge is beneficial to you as a professional. With that said… studying is laborious and it does fatigue one quickly in regards to mundane book learning. Real life applications are slightly easier to stomach. Peter Olinto was my entertainment factor in studying for the exam… always liked him better than the other two guys and I credit his enthusiasm in part to my success in passing those exams.
The CA process is wayyyy harder…but possibly the best motivation for Canadians/Brits to get their CPA is so they can watch these amazing works of art.
In response to Adrienne’s comment, I think it’s more that accountants like to complain about studying for the exam, rather than studying for the exam itself.
My favorite part of the Becker course was when Olinto brought out his kid- who is basically mini-Peter- wearing a shirt that said “Tax Reduction.” I did all 4 courses this past summer. Thank goodness I passed all sections and never have to deal with Tim and Peter anymore!
Did you know he played football against Puff Daddy?
I tossed my outdated Becker study books this weekend – I’ve been carrying them around for sentimental purposes since 2007 when I passed the exam. It was a difficult move, but I chucked them into the recycling bin Saturday. I’m still a little sad…
I finished it back in January–at the time it seemed like a good idea, but now I have nothing to fall back on when I don’t have any work to do!
My favorite is when Peter (we’re on a first name basis) keeps encouraging us to do well so he gets his bonus. I really hope somebody sees him someday and demands the cup of coffee he contractually promised all of us.
I’m not quite sure, but is that A.C. Slater or Jose Canseco?
I loved Peter Olinto in the Becker review. He definitely was what got me through that class. Especially with his suspenders. The hardest thing about the olden days is that you’d have to take them all at once over 2 days, or 3 or 4 if you’re really old. Studying for one part at a time is a piece of cake!
I was actually so inspired by Peter Olinto in Becker that I signed up for live Peter Onlinto lectures at Hotel Penn when studying for the CFA Exam. He sweats like a beast when he lectures, but what do you expect from a man who bathes in vodka and feeds his baby shrimp scampi?
[…] When I got the system to work and finally started to play is when I really came to the realization that my recollections from my younger days were weak sauce. As I began playing, I recalled ever secret and every hidden item in the first world. It was like second nature, I didn’t even have to think about it. When I look back at things like that or in the discussions back in the dorms up at TU, where I schooled all my friends in sports trivia (looking for somebody to call me out on that), I start to think to myself, what if I were to put all that memory to some really good use? Not to say that I’m wasting memory (I’m not even really sure how many gigs or how much RAM my body can store), but it puts into some perspective how I can make it thru studying for the CPA exams. […]
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“We’re on our way to a CPA!” Peter Olinto rocks! Took Becker in 2002 and I recognized him immediately.
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i love peter olinto and tim gearty!
Hey, why is Tim Gearty looks older now than compare to him back in 2008? Two years that much change?
I quote a friend that is also studying for the exam: “There is a direct correlation with the level of misery in your life to higher success rate”