There is significant demand for CPAs the world over. According to research carried out by the job search and networking platform LinkedIn, CPA was the sixth most in-demand job for June 2020 and the first to see the fastest growth in demand. A successful CPA can earn a high five-figure salary.
CPAs have a broad span of career choices at their disposal. This professional path can work in various public and private industries, ranging from government service to corporate and public accounting firms. However, getting the CPA qualification is no easy feat. It requires one to put in significant time and effort, along with the willingness to commit and study for their demanding exams. Here are five ways to help you study effectively for your CPA.
Select The Right Course
Getting the right exam course to study can be a make-or-break factor for you. Courses must be relevant, updated, and designed to provide a complete learning experience. Before you decide which course material to study for the CPA exam, it is important to consider what benefit you can get from that course. Even though there are dozens of exam preparation courses to choose from, not all of them will cover all bases.
One of the CPA Review Courses you should check out is the Wiley CPA exam review. The course offers over two thousand pages of study guides and over twenty thousand test questions and simulations, along with access to their exclusive peer study group on Facebook. The course has helped over a million candidates earn their CPA and has an impressive pass rate of 90%.
Get A Mentor
A mentor is someone you can approach and take advice and guidance from. This advice can be of personal and professional nature, as these two go hand in hand most of the time. You may ask why is it important to have a mentor? After all, anyone can give relevant advice. The main benefit is that the mentor has gone through that part of life that you are about to or already have embarked on. No book, friend, or internet video can substitute the knowledge and wisdom that can be gleaned from your mentor. So, the value of a mentor is beyond doubt which you can only gain from.
There are several professional CPA mentorship programs out there you can benefit from. CPA Canada’s mentorship program guides CPA candidates to develop the five main competency areas, professional and ethical behaviour, problem-solving and decision-making, communication, self-management, and people skills. Do check with your local CPA body for their mentorship program, as CPA mentors play an important part in defining and upholding the professional and ethical standards expected of CPAs.
Plan Ahead
The CPA exam is perhaps one of the biggest leaps you take in your professional life. It will be the change from the ordinary to the exceptional. And this change will not be possible unless you plan for it proactively. Planning will give you direction and enable you to look forward and take appropriate measures to manage yourself. Since you will know your exam dates well in advance, you need to prepare a schedule that works for you and then stick to it.
It is always beneficial to take your boss and colleagues into confidence concerning your exam preparation if you are working. This allows them to make any necessary adjustments, and you can plan your study leave accordingly. The main advantage of planning is that you have thought out all possible and necessary engagements and disruptions you may encounter beforehand. You can then prepare your study schedule around these engagements, to give you’re the proper time and space required to prepare for your exam.
Don’t Forget to Practice
To get better in any activity, one must perform that activity repeatedly. And this is exactly how you will get better in your preparation for your CPA exam with practice! Your new best friend in your preparation days is ‘practice.’ Yes, that’s how important it is. The CPA exam is a very difficult exam taken in a limited time. Reading and learning the concepts is not enough; you need to apply them. An ideal way to apply those concepts is through practice.
Practice questions after every exercise and at the end of each topic, every day, and week. Take full-length practise exams to get an idea of what the actual exam will be like. Practice will not only allow you to improve your understanding of the material, but it will also highlight those areas where you might need to focus more.
Keep Yourself Motivated
Something as comprehensive and important as the CPA exam can overwhelm even the strongest. The sheer size of the curriculum and the difficulty of the exam can take their toll on candidates. However, there are ways to deal with such situations. You should know your end goal and why you are doing this.
Is it to advance the career ladder and reach that top position you always wanted or is it to open your consulting service, for which you want that CPA tag? Whatever it may be, there always will be a definite and well thought out reason to go for qualification as demanding as the CPA, and you need to ensure you do not lose sight of that reason at any given point.
Conclusion
To become a CPA would be an extremely satisfying achievement as you will know that you have done everything in your power to be among the best in your field. You will get a leg up from the competition anywhere you go, and you will have a firm standing among your peers and community. The journey will not be easy; however, you will gear yourself up to stay ahead of the rest using the ways presented above.