As the graduation bells ring, for many accounting students the world of public accounting sits over the horizon. For the majority of public accounting firms it is expected of you to obtain your Certified Public Accountant (CPA) license. To obtain this license you must pass all four parts of the CPA exam, pass an approved ethics course, and write a narrative regarding seven core competencies. On average it takes anywhere from 90-125 hours to prepare for one part of the CPA exam, the equivalent of 2-3 full weeks of work. And like myself, I imagine there are others that will be preparing for the exams while also working for a public accounting firm. So I am here to save you some trouble and give you the full proof secrets to balancing your busy work life, preparing for the exams and maintaining a social life.
First and foremost DO NOT give up your social life. Yes, you may have to stay in on a Friday evening to study (and you will be reminded of this continuously if you use Becker), but make sure you keep a connection with friends and the parts of life that provide you stress relief and, in general, make you happy. The social aspects can sometimes be the easiest to cut out of our lives as we our focused on pursing our careers. On the other hand, I can think of numerous times when my friends or my other stress reliever, working out, helped me clear my mind and come back to my study materials refreshed and willing to learn. I learned this through trial and error.
My first exam was Financial Accounting & Reporting. I went into the exams thinking this would be easy. I could give up my gym time (2-3 hours a day…. I know) and use that as study time. I tried this for roughly 3 weeks and my willingness to learn was diminishing, along with my performance in other areas of life. I lacked energy and motivation and at that point I knew I needed to make a change. I found time to start working out again and although my days were jam packed; I found that I felt less stressed, and more focused with a clear mind to attack the day. In general I was a happier person, yes maybe I wasn’t eating dinner until 9 PM but at the end of the day I felt good about myself and what I accomplished. Previously I was overloading myself with accounting between eight hours of work and then about three hours of studying. At a certain point, I could only take so much and need to find a way to break it up to simply maintain sanity. I encourage you to make time for the things and people you love while preparing for your exams. Whether they’re providing you with some helpful information on calculating lease payments or a lively conversation about Dillon Brooks hitting the game winner against UCLA, we all need those things in life to relieve stress and let our minds drift from our worries. Making time for these types of things has helped me perform better in my career, gain my CPA license after passing all exams on the first attempt, and a happier person. I’m here to tell you if you go into the exams with the idea it won’t be a big time commitment, you’re in trouble. Accept that it is going to take up a lot of time which may include waking up at 5AM or eating dinner at 9PM, it’s a marathon not a sprint, but within that time, make time for you, you’ll be glad you did.