Wahoo! Nothing beats the feeling of finishing that last final for your last class, finding out that you passed everything with flying colors (or just passed, really), and sending in that finalized application for graduation.
Ahhhhh. Life is good.
And life doesn’t wait. Now that you’ve had about a minute to relax, it’s time to start thinking about what your next moves are going to be both career and education-wise. And if you’re already thinking about that CPA license, here are some great reasons why we encourage all college graduates to start studying for the CPA Exam this summer.
1. The earlier you start, the better off you’ll be
As you already well know from late-night procrastination in college, the earlier you start on something, the better off you’ll be. Don’t wait to study for your CPA Exam. You have ample time this summer (about 3 whole months) to get a jump start on a very difficult test. Use this time to your advantage. Research the requirements, figure out what you need to do to become eligible, figure out which section you should take first, and hop to it. There will be many roadblocks and red tape that you will come across that will require a lot of time and patience that you might not have later. Finding out what those roadblocks are and how to overcome them will you put you ahead of the game with no surprises and no pending deadlines that you’re scrambling to meet. Get started early, and you will be prepared for whatever comes your way and make things happen in due time.
2. You’ll get your bonus faster
If you’re already working at a firm or are planning to do so, you already know that many firms give out bonuses (anywhere up to $5,000!) for candidates who finish and pass the CPA Exam in an allotted amount of time (usually 1 year). Pass the exam before that due date, and you may get that bonus even quicker! Plus, this will show your current or potential employer that you mean business. Taking the CPA Exam is ambition enough—but passing all 4 sections before they expect you to? Yes. You’ll be on the radar and you may enjoy some benefits that your peers won’t be privy to, giving you some extra fluff on your shoulders.
3. You still have momentum going
Take advantage of the fresh information in your brain and the pep in your step. Although you’ve just graduated and finished school, you’re still in student mode. There’s no better time to utilize all the things you’ve learned about time management and study tactics for the CPA Exam than now. Additionally, all the nitty-gritty details that you’ve learned in your accounting courses are still walking around in Memory Town and you’ll be able to quickly apply what you’ve learned in class to topics that will be tested on the exam. One of the main areas of difficulty for CPA Exam candidates is not being able to recall the topics they learned in their accounting courses that show up on the exam, and so they essentially have to re-learn things they once knew. Eliminate the forgetful factor while the information is still brewing and fresh!
4. It’s really just a good idea
You may be tempted to take a trip you planned with friends and family once the world opens up again after COVID-19, or to go out and be one with the wilderness for 2 months, but honestly—you’re still young and there will always be plenty of time to travel. After all—what could be more exciting than spending some hours obtaining those extra 150 credits or studying for cost accounting?! No, but seriously, in retrospect, the few months you spent studying for the CPA Exam that will prepare you to pass one or all four sections is just a slight dent in your summer vacation compared to the rest of your life as a successful CPA. So really, it’s a win-win situation.
On behalf of UWorld Roger CPA Review, we’d like to congratulate all you recent college grads out there and hope you take the time in these next few months to buckle down and get a head start on one of the toughest, and most rewarding, exams out there. Good luck and happy summer studying!