In partnership with the American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA), UWorld CPA Review recently hosted an exclusive webinar: 2024 CPA Exam Insights: Q&A with AICPA, NASBA & Roger Philipp.
Watch the recording now and keep reading to get answers to the top 10 questions candidates had about navigating the 2024 CPA Exam.
1. Roger, did you study early in the morning (before work) or after? How to convert yourself to a “morning person” if you are a night owl
That’s the age-old question, isn’t it?! “We are what we repeatedly do. Excellence, then, is not an act, but a habit.” – Aristotle.
2. Besides FAR, which other section is the most difficult?
Besides FAR, AUD (Auditing and Attestation) is often considered one of the most difficult CPA Exam sections for many candidates.
For a more in-depth look at AUD, including a breakdown of each exam topic and study tips, view our article About The AUD CPA Exam.
3. At this time, you can choose any discipline and still be a CPA. Do you foresee that changing in the future where your CPA license will specify your discipline?
No, we don’t foresee the CPA license specifying a discipline in the future. The CPA Exam purposefully tests you on a broad scope of accounting knowledge without being tied to any particular specialty or discipline. This broad-based approach is intentional, as it allows CPAs flexibility in the services they can offer and the roles they can take throughout their careers.
4. How should we modify our current study strategy to fit the needs of the new CPA Exam sections?
UWorld CPA Review Course materials outline everything you need to know about the new core discipline sections. Our CPA review material is always fully aligned with the latest AICPA blueprint, mimics the actual exam, and provides unique, customized questions to improve your scores.
When you’re ready, be sure to check out our CPA Review Course options to find the one that best fits your study style and budget.
5. How should we decide which elective to go for?
When deciding which elective discipline to pursue, you should consider your career interests, strengths, and likely areas of practice after licensure.
Wondering which of the discipline options is right for you? Check out our video series where our in-house CPA content expert, Jennifer Boyd, CPA, breaks down each of the core disciplines to help you determine which discipline is right for you.
6. How can you prepare adequately for sims?
To prepare for task-based simulations, practice with multiple mock exams, apply concepts to real-world scenarios, and follow the instructions precisely. Also, remember that time management is also key for TBSs.
7. Are the blueprints for the REG exam changing this year for new tax laws?
We don’t have any new information on whether the REG exam blueprints are changing this year to account for new tax laws. The exam blueprints are typically updated annually to reflect changes in laws and standards.
Wondering what to expect on the REG exam? Get to know the REG section in detail in our article About The REG CPA Exam.
8. Do I have to write all three disciplines or just one of them?
You are required to choose ONE discipline–ISC, BAR, or TCP.
9. What are tips for getting the Elijah Watt Sells Award?
Here are some tips that can help increase your chances of earning the prestigious Elijah Watt Sells Award:
- Aim for a near-perfect score. The Elijah Watt Sells Award is given to candidates who obtain a cumulative score above the 95th percentile. Realistically, you’ll need a score in the high 90s across all four exam sections to qualify.
- Practice extensively with realistic mock exams that mirror the actual format and time constraints.
- Develop strong time management skills and avoid getting bogged down.
- Stay mentally fresh and focused throughout the multi-hour exam sessions.
- Consider taking one section at a time to concentrate efforts.
10. Except for the CPA license, what other license would you recommend accounting students earn?
Besides the CPA license, accounting students may benefit from earning their CMA (Certified Management Accountant) certification, Certified Internal Auditor (CIA), or CFA (Chartered Financial Analyst) designation, depending on their specific career path.