I’ve been approached a few times recently about advice for passing the CPA (Certified Public Accounting) exam. I thought about my experience and boiled it down into three major steps. If you’re feeling stuck or intimidated by the big test, keep reading!
#1 Understand the mechanics of the exam.
The first step to passing any exam is understanding the mechanics of the test. In skee-ball, if you want score high, you need to know where to aim. The same goes for exams. If you know which concepts will be tested the most, you can optimize what to study.
To-do:
Read through the CPA Exam blueprints and understand the allocation of the topics tested.
Identify your strengths, weaknesses, and familiarity with each topic.
Create a flexible study plan emphasizing the areas that need more attention.
#2 Learn about learning.
Once you’ve figured out what to study, next you need to learn how to study. There’s a ton of research about how to learn more efficiently, and everyone has different methods that work for them. These two videos cover learning concepts that had the largest impact on my approach to studying.
Bloom's Taxonomy explained by Dr. Justin Sung
Too long, didn’t watch: Don’t settle for remembering and understanding concepts. Aiming for a higher order of learning (applying, analyzing, and evaluating concepts and their relation to others) will make information more sticky.
Active Recall, Spaced Repetition, and Interleaving by Dr. Mike and Dr. Matty
Too long, didn’t watch: More cognitive effort spent while studying = better learning. Quiz yourself constantly, spread out your review of material over time, and study multiple topics at a time.
To-do:
- Consider which active recall methods you’ll use (flashcards, stop and recite, practice problems).
- Create and understand how to use a retrospective timetable.
#3 Put in the effort.
The final step is the one everyone tries to find a shortcut for. There’s no getting around it; tests this wide comprehensive require time and effort. But it doesn’t have to feel like an endless slog.
Every time you start to study, keep this equation from Cal Newport in mind:
High-Quality Work Produced = (Time Spent) x (Intensity of Focus)
“Time spent” isn’t the only variable you have control over. By increasing the intensity of your study sessions, the preparation time required to pass will be much less.
To-do:
Habitualize studying to the point it becomes second nature. Relatedly, break out of bad, time-wasting habits.
By limiting distractions and challenging yourself, you can enter a “flow-state,” or a state heightened of focus, productivity, and enjoyment. Studying should be pleasant and fulfilling!
Keep your phone in another room. Use browser extensions like BlockSite to stay on task.
Evaluate how effective your study sessions are. If you don’t see the results, pivot and try different methods until you find one that works for you.
Hope this helps! I know it's a short, general guide, but I expect many of you will be able to connect the dots.
The CPA exams are difficult, but your work, personal, and social life should not suffer because of it. Always aim to work smarter, not harder/longer!
I'll update the guide with more specific tips if there's any interest in it.
'Til then, cheers!