Monday, August 27, 2007

Holla If You Hear Me

I finally got the results back from the two portions of the exam that I took in July and August.

If you recall, on July 13th I took Financial Accounting and Reporting. This test was a total monster, and was bigger and harder than I anticipated. Unfortunately I was pretty burned out on studying when I was supposed to be preparing for the test, and I only covered five of the nine chapters in the book. I guess I just ran out of time. Needless to say, I did not do well on this one. Again, the required score to pass is a 75 and I got a 64. Not very good, but I pretty much expected that, having not studied. No worries, I'll get it next time I guess.

Today I got the results from the August 3rd test that I took. That was my second go-round on the Auditing section of the exam (the one that I did not pass back in May), and let me tell you guys, I knocked it out of the park. With a required score to pass of 75, I got an 86! I cannot explain how good this feels.

Now I think I know the right way to study and I think I should be able to use that to my advantage on future exams. The pressure is on now however: once a candidate has passed one part of the exam, the other three parts have to be passed within 18 months. I think I can handle it however.

Next up I take Business Environment Concepts (This section covers knowledge of business structures, economic concepts, financial management, information technology, and planning and measurement (via Wiki)) on October 1st. I begin studying tonight.

Then on November 30th I take Regulation (This section covers knowledge of ethics and professional responsibility, business law, Federal tax procedures and accounting issues, Federal taxation of property transactions, Federal taxation – individuals, and Federal taxation – entities (via Wiki))