Take a Review Course

A CPA review course is one of the best ways to prepare for the exam. These courses will set you back a couple thousand dollars, but consider it an investment. They offer simulated tests, Q&A, computer software and other features. There are live interactive classes, online reviews and more.

Take your time in researching each study course. When you’ve made your choice, you’ll realize that this is one of the most essential CPA exam preparation tips you can use. The experience you gain here will help you prepare for the real thing.

Commitment is a Must

The review courses offer flexible schedules, but that’s no excuse for slacking off. You were able to graduate because you attended class regularly. The same rule applies here. You’ve got to commit yourself to the task. It’s not just for the money you invested; your future career is on the line here as well.

A good way to stay committed is by allocating specific study times. If you’re on the self study route, set aside specific times for studying. Eventually you’ll get accustomed to it and look forward to the projects.

Seek Advice from CPA Exam Passers

Don’t hesitate to talk with those who’ve gone before you. Ask your friends for some CPA exam preparation tips, and what reviews they took. There are forums and blogs dedicated to this stuff.

There is no better way to learn than from those who have taken the exam. Read the blogs and see what you can learn there. You can also join discussion groups. These groups discuss everything from the mental preparation to requirements, so post your questions there.

Check Your Local CPA Group

Every state has its own CPA society or organization. Check their website for information. The requirements in your state will be posted there. Information about the exam themselves will also be posted and many more. Bear in mind that the world of the CPA never stands still, so be updated on all the facts and news.

Other CPA Exam Preparation Tips

Try to familiarize yourself with the software as much as you can. Some of the features in regular software are not available so get accustomed to it. Don’t even think about using your old college books; the info there is outdated. Only buy reference books not older than 16 months.

You also need to be mentally prepared. Studying can put pressure on you; there’s even more pressure when the exam date draws near. Some services offer counseling to help one prepare. Don’t hesitate to avail of this feature if you feel there’s too much stress.

One final CPA exam preparation tip: avoid all distractions. When you study, strive to keep other thoughts away. By focusing, you’ll absorb the lessons more quickly.

Requirements

Before taking the Illinois CPA exam, applicants should satisfy the requirements set by the state board. It is important that they attain a baccalaureate degree to be eligible to sit for the examination. Aside from this, it is necessary that they have completed 24 semester hours of courses related to accounting as well as 24 semester hours of courses related to business law and business management. In addition to the above-mentioned requirements, candidates must have finished at least 24 semester hours in the graduate level. The state board of Illinois requires them to submit their transcripts to prove that they qualify to take the exam.

Schedule of Exam

After submitting the requirements, applicants should choose the date when they want to take the exam. The state board allows applicants to take the exam during the following months; January, February, April, May, July, August, October and November. To increase the chances that they will pass the examination, it is best if they enroll in review classes so that they can have ideas about the structure and the different parts of the exam.

Structure and Parts

The Uniform CPA examination administered by the Illinois state board is composed of 70 per cent multiple-choice questions and 30 per cent simulations. The exam is divided into four parts, namely regulation, auditing and attestation, financial accounting and reporting as well as business environment and concepts. Some of the concepts and topics included are federal taxation, business law, professional responsibilities, information technology, nonprofit organizations and governmental entities.

Applicants should finish the auditing and attestation section within four and a half hours while they need to answer the questions in the financial accounting and reporting section within four hours. The facilitators of the exam also require applicants to answer the questions on regulation and business concepts within three hours and two and a half hours, respectively.