I had just quit my job and was officially a full-time student. I decided to take advantage of this newfound time and started studying for the CPA exams.
I did it! I passed REG as a full-time student and mom in five weeks.
Determine which CPA section to take with your classes
Coordinating your accounting classes with the section to take for the CPA exam is very beneficial. You can study for an exam while taking the course or directly after finishing it. Here are some of the classes related to the sections of the CPA exam:
- REG – individual tax, corporate tax, or business law
- AUD – auditing, advanced auditing, or internal auditing
- BEC – cost accounting, macroeconomics, or microeconomics,
- FAR – intermediate accounting, government/not-for-profit, or advanced accounting
Since your accounting courses cover some CPA exam topics, you listen to the same lectures twice. Possibly, even completing the same homework assignments. This tactic reduces study time with the CPA exam study material and class time. It may help you boost your CPA exam score and perform better in class.
I could pass REG by studying for only 90 hours because I took it the same semester as my corporate tax class. Becker recommends an average of 120 hours to pass REG, so I saved 30 hours coordinating my exam with the right course!
*You might also be interested in the following: Which order should you take the CPA exams?
How to balance it all?
Planning ahead of time is vital to balance the CPA exams and classes. Here are the exact steps to prepare for the upcoming semester.
Start with a monthly planner.
Taking a college course is more than showing up to class and doing homework. There are usually papers, projects, and tests on top of the regular class load. Using a monthly calendar helped me see all the deadlines for the entire semester in one glance to determine a test date for my CPA exams. Here’s how to create it:
- Write down the days you have to attend class in person.
- Use the syllabus for each course and write down all the deadlines of projects and test dates.
- Add time to work on weekly assignments such as homework and discussion board posts.
Now that you know all the deadlines, there should be little surprises for the semester.
Create a weekly schedule.
After having a monthly schedule, it’s time to create a weekly plan using the time-blocking technique. Time blocking is a time management technique that blocks portions of your day dedicated to a specific task. The block of time is created based on your priorities.
To create the schedule, download the free time blocking planner I made. Then, add the blocks of time for the following:
- In-person classes with commute time
- Online class’ weekly deadlines
- Weekly assignments such as homework, projects, or study time
- A daily routine such as working out, eating, hobbies, or anything else you do
- Add buffer time in your schedule in case something unexpected comes up.
Once you have created a schedule, you can add time blocks to study for the CPA exam. The key is to study consistently. So, I recommend adding a time block of 1.5 to 3 hours for each study session 4-6 days a week.
Here is my weekly schedule using the time-blocking method:
Download the free time-blocking planner
As you can see, I split up my studying into three main blocks:
- Morning blocks were for my corporate and partnership tax class
- Afternoon blocks were studying for the CPA exam (REG)
- Night blocks were for my accounting ethics class
Each week I was varied depending on whether a school project was due or a test. I left Friday and Saturday open to working on classwork or the CPA exams. I added some buffer time to study if anything took longer than expected.
Determining test date
The monthly and weekly planners are excellent tools for determining your test date. After a week or two of studying for the CPA exams, you can see how much material you finish in one study block of time. You can use this to project the chapters/section you would complete each day to finish the material on the monthly calendar.
Add one to two weeks to review the material before the test date. It’s crucial to pick your test date on a week when you don’t have any significant due dates for projects or tests to put most of your focus on reviewing the material.
Due to the upcoming blackout date, I booked REG a week before my finals and took the whole week to review. I chose that week because I had no tests or big projects due. I any assignments I could finish early before reviewing for the REG section, I did. Then I put off any assignments that weren’t mandatory until after my exam and focused on reviewing the material as much as possible. Once the exam for that section was complete, I knew I would have more time to focus on my finals and homework. So, I didn’t stress putting it aside for a few days to focus on REG. I bumped up my studying to over 30 hours exam week.
If you don’t have any deadlines, planning to take the CPA exam after the semester is over will give you more time to review without the stress of homework.
*You might also be interested in: How to create a study schedule to pass the CPA exams
Create a schedule that works best for you.
Creating the monthly and weekly schedule is to create an overview to make decisions such as determining test dates. It is not a tight schedule that you have to stick to every minute of the day. It’s created as a visual so you can see your whole week at a glance to make decisions.
I couldn’t study one Tuesday afternoon because I attended my daughter’s school awards. But I didn’t stress because I knew the exact time and date to make it up with the buffer time I created.
It helps create a realistic study schedule to balance school and the CPA exams.
Your schedule might look completely different than mine, and that’s okay. I want to show you it is possible to study full-time, be involved with your family, and have time for yourself. Find out what works best for you and stick with it.
You might also be interested in Study routine to pass the CPA exams quickly.
How to create a schedule before classes start
Halfway through the semester, I started studying for the CPA exams, so I already knew my class load and what to expect. If you are making a plan before you are sure of the class load, here are two ways to approach it:
- Focus on school for the first two weeks of the semester or quarter to get into a comfortable routine. Then, add studying for the CPA exam to your schedule.
- Study at the same time as your classes. Create a weekly schedule as you go and adjust for the first two weeks until you’re comfortable.
If this is your first exam, consider waiting until you get into a study routine before scheduling your test date. Remember that the Prometric Center opens more test dates and times two weeks before the date, and many people drop their exams due to being unprepared. So don’t stress about the exam date when you’re starting, and focus on getting into a comfortable routine.
How many classes should I take?
If you are trying to plan for the upcoming semester, use the weekly time-blocking schedule to put in the minimum time blocks for the classes you must take. Be sure to account for time blocks to complete homework assignments, study for tests, or work on projects.
If you are unsure about the class load, contact your college advisor and ask about the estimated hours for those classes. Then, you can play with the weekly schedule by adding extra courses with study time.
I decided to take two courses because it was the minimum to qualify for financial aid in the master’s program. Also, my college advisor told me to account for 12-15 hours a week for each class. Some ended up being less, but I didn’t feel comfortable spending more than 30 hours weekly on my classes. Take as many courses as you feel comfortable.
*You might also be interested in Seven Ways to graduate debt-free in Accounting
Should I prioritize the CPA exams or school?
Prioritizing school or the CPA exams depends on where you are in your career. I prioritized school because I had enough scholarships for my master’s degree. Also, I was starting in accounting, so a CPA license wasn’t required for my level.
If you have been working in accounting for a while, finishing the CPA exams first might be more beneficial. Then, you could take the required classes to receive your CPA license upon completion. Ultimately, your career path will determine which is best to prioritize.
*You might also be interested in Three Ways to earn 150 credit hours for Your CPA license
You got this!
The CPA exam comes with a lot of hard work and sacrifice. But remember, it is only temporary, and the payoff is enormous.
If you continue to be consistent and work hard, you will be a CPA and reap the benefits.
I know balancing life as a full-time student is a big challenge. Adding the CPA exams to it makes it even harder. I know you can do it and pass!
Grab my free time blocking planner to create your study schedule.
