Sunday, August 16, 2009

CPA Realities

I became a member of the Minnesota Society of CPA's, which has been a great resource, but has also forced me to face realities.

Reality #1...I am going to be registering for it before I know it. In fact, I can register a year from now. Truth be told, I am starting to get a bit freaked out.

Reality #2... I should be networking like crazy, applying for internships, and studying by butt off, I am doing that last one.

Reality #3...I may need to seriously consider going back to work...maybe by the time Miles turns one? I don't know. For the record, going back to work isn't something I dread or anything, the plan all along is for me to do that and I want to. It seems to be coming up fast, but I need some more concrete experience, and I need employer reimbursement for these exams.

Reality #4... is that the CPA is not cheap. It's almost $200 to apply/register. Each section of the test is between $175-$275, and the basic review course is $3,000, and that doesn't even include some of the added prep study materials. That's if you pass each exam the first time. It seems that is quite rare and I'll be retaking a few (well, I hope not, but we are trying to be realistic).

To become certified you need to take tests in 4 different sections (Regulation; Financial Accounting and Reporting; Business Environment and Concepts, and Auditing and Attestation). Each section is broken down into 4-5 modules. When you are testing, you are given 3 sections of multiple choice, and 2 simulations. Apparently the simulations are the parts that really freak people out...real like situations for you to analyze. Yeah, its a little scary.

You want to know what I am most scared of? Working, going to school, remodeling a house, being a wife, taking care of 2 young kids, and studying. I read it was recommended to study around 3 hours a day, but to give yourself Friday's know, for a break.


Kiss my social life goodbye. That is, if I had one now!

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