Going into REG, I felt intimidated. In my mind, REG was the second hardest exam to pass after FAR. Since FAR took me four times to pass, I was nervous! However, once I just jumped in and started studying, I realized that it more straightforward than I anticipated and that it would not be impossible to grasp.
Similar to FAR, the sections are segmented. Therefore, you can jump around, but using Roger CPA Review, I felt it was easier just to go in the order he created. One reason was because he started with the most detailed topic first (in my opinion), Individual Taxes. There are many thresholds and exclusions to remember for individuals. However, once I got to the Corporate Taxation section, it was easier to grasp, because some of the areas were the same as Individual. I noticed a similar flow for S Corps and Partnerships.
My method was the following:
1. Watch all the lectures in the section.
2. Read the text related to that section.
3. Make my own notes from the lectures and text.
4. Make electronic flash cards (using the Cram app).
5. Do TONS of MCQ's and Simulations.
6. Take multiple practice exams.
I studied daily while working full-time as a traveling auditor. Therefore, when I traveled, I read and studied notes on the plane. I purchased lectures on a flash drive so that I could learn from the lectures without needing the internet. When I was in the office, I used my lunch breaks to study which added an additional five hours of study time a week.
The first time I took the exam, I made a 65. I knew it was mostly because I did not allow enough time for the sims. I only had 49 minutes which was definitely not enough time. Roger suggested allowing at least 1.5 hours for the simulations, and I agree! When I did my review, I did a testlet with non-tax topics and then a testlet with tax topics. I timed myself and focused on weak areas.
The second time I took the exam, I PASSED! It was such a good feeling to know that my hard work paid off. Now, I am waiting on my BEC scores. If I passed, then I am done with the CPA exam! It's hard to believe, but it is possible. If you are struggling, DON'T GIVE UP! Roger always says,"If you study, you will pass".
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