[Credits: https://onepabl0.wordpress.com/2015/07/01/7-mistakes-a-cpa-board-examinee-usually-commits/ ]
CPA Board Exam Mistake #7
Not Studying How the CPA Board Exam Questions are Structured.
Ang mga tanong sa CPA Board exam ay sobrang tricky, kaya kailangan mo talaga ng matinding focus to each and every word of the question and multiple choices. Like this:
Maria Regina Cristina Jennigail Mania Pili Co. is a wholly-owned subsidiary of Nutrilin Bottling, Co. Maria Regina sold P1,000,000 of Cristina Jennigail to Nutrilin Bottling, Co. during 20XX. Maria Regina had P4,000,000 of Cristina Jennigail on hand at the end of 20XX and Nutrilin Bottling, Co. had P200,000 of bottle inventory it had purchased from Maria Regina on hand at the end of 20XX. Nutrilin Bottling, Co.’s gross margin rate is 10% and Maria Reginal’s gross margin rate is 50%. How much intercompany profit in inventory should be eliminated from Nutrilin Bottling, Co.’s financial results at the end of 20XX?
Look closely at the question sa taas, if you can notice, kung anu-anong information ang pinaglalagay ng examiner pero di naman lahat ay may kinalaman sa tanong. Minsan gumagamit sila ng mga pangalan ng companies na nakakalito… Those words/phrases are meant to distract you para matest talaga ang kalaliman ng kaalaman nyo sa mga accounting theories.
You do not need to know how much was sold during the year, how much inventory Maria Regina had on hand or what Nutrilin Bottling Co.’s margins were. If you start this question by reading the last sentence, yung misming tanong before reading all the other facts at the beginning of the question, you can more easily pinpoint the information you need.
First, the only two pieces of information you need are Nutrilin Bottling Co.’s ending Cristina Jennigail inventory related to purchases from Maria Regina and Maria Regina’s margin rate.
Second, they switched the order in which they provide information about the two companies. In the first part of the question, Maria Cristina is listed first. In the last part, Nutrilin Bottling Co. is listed first. If you are not careful, you will apply Nutrilin Bottling Co.’s margin rate to the ending inventory and get to an incorrect answer.
Third, the incorrect answers are all combinations of various numbers used in the facts of the question. Minsan imumultiply lang sa 2 or divided by 2.
Sa exam, they will not use colorful, memorable scenarios, like Maria Regina selling her backyard Cristina Jennigail. They’ll make it as boring and mundane as possible, with names like “Company A” and “Company B” or “Mel” and “Charo.” If you do not pay careful attention to the names, you can easily pick up the wrong information which will lead you to the incorrect answer.
Kaya kahit mahirap makapgfocus pag nasa actual board ka na dahil sa kaba and paranoia. (Based on experience). Dapat chillax lang.
Always ask the Lord for the wisdom to stay focused during the exam.
“If any of you lacks wisdom, he should ask God, who gives generously to all without finding fault, and it will be given to him.” James 1:5
By the way, the correct answer is C.
CPA Board Exam Mistake #6
Not Focusing on the Way You Learn Best
If you are currently reviewing for the CPA Board Exam, malamang graduate ka na sa College, unless you are taking an undergrad review, so I believe you know what it takes para pumasa sa mga exams. And lahat tayo ay may iba’t-ibang ways on how to study.
During the review days, most of the reviewees are using the “Tips on How to Study Effectively for the CPA Board Exam” given by the professors in every review centers. Madalas iniiba nila ang study habits nila at nakakalimutan nila kung paano nila yun nagamit para masurvive ang College life. Keep in mind na there are millions of ways to study effectively, and it varies from individuals to individuals.
Maybe you learn best by listening. Pwede ding by writing. Maybe by watching instructional videos. May mga nagsusummarize din ng topics and kung minsan may paflashcards pa (or even yung ring binded color coded index cards). Whatever method has made you successful during college days is what you should focus on for the CPA exam. Pwede din namang magpractice ng additional habits para mas maging effective ang pagrereview.
You should also consider the schedule you will attend in the review centers. Kung Nocturnal ka and mas nagpprocess ang utak mo twing gabi, or sadyang mas active ang katawang lupa mo ng ganung oras, I suggest na magtake ka ng afternoon class. Para may tulog ka sa morning, review classess sa hapon, then self-study na mgadamag sa gabi. Kung day person ka naman, pwede ka magattend ng review classes during the morning tapos by afternoon ituloy mo na sa bahay or library ang pagaaral then rest sa gabi. Note: These schedules are not according to studies blah blah, those are just my suggestions. In the end, ikaw pa din naman makakaalam ng swak na time to study. Do not conform sa trip ng tropa mo, hindi dahil sa morning session ang bestfriend mo ay magmomorning session ka na din; hindi porke may maganda.gwapo sa afternoon session, magaafternoon session ka na din (hmmm… Actually pwede din pala. Haha)
Just always remember that time is of the essence, sabi nga diba it takes 21 days for an action to be a habit, eh iilang days lang ang review perod mo babawasan mo pa ng 21 days para magpalit pa ng study habit. Maintain the way you study, syempre yung mga effective ways lang, kung wala ka talagang study habit nung college, abah e ibang usapan na yun.
I believe na alam mo naman sa sarili mo ang tamang technique na swak sayo. Just do it!
CPA Board Exam Mistake #5
Using Outdated Review Materials
Madalas dahil sa pagtitipid or kawalang ng resources, many of the reviewees or even undergrad students use older versions of review materials or books. This is understandable but I highly discourage you in doing this for two reasons.
Firsts, walang forever kahit sa mga accounting standards, pronouncements and regulations. These things change frequently. Pwedeng yung mga standards na applicable last year ay di na applicable this year.
Second, updated review materials give you a glimpse into testing trends. The way a certain examiner throws questions and principles. It also gives you focus in the topics that are important and not yet obsolete. Yan ang major advantage ng page-enroll sa review centers. The instructors get updates from different regulating bodies on what areas are likely to be important.
Using old review materials will send you to the wrong path and have you focus on the wrong topics.
Any money na matitipid nyo sa paggamit ng mga oudated review materials or review books is more that offset by what you stand to lose by not being well prepared for the exam. The high risk you are taking is likely to result in more study time, retakes and extra exam fees
Yes, makakatipid ka nga somehow, kaya lang your future is at risk. The investment you will make today may result to a greater outcome. If di talaga kaya, madami namang paraan, it’s up to you kung pano ka didiskarte. If there’s a will, there’s a way.
CPA Board Exam Mistake #4
Focusing on Your Strengths Instead of your Weaknesses
Bakit ba masarap aralin ang Cash & Cash Equivalents, Partnership, Job Order Costing, etc.,? – Syempre kasi madali.
Eh bakit halos mapilipit utak natin makita pa lang ang salitang Derivatives, Process Costing, Income Taxation, etc.? – Kasi nga ang hihirap. Nakakapanghina.
It’s okay na magexcel in a certain subject or topic, iba din kasi ang feeling pag inaaral mo na yung mga alam mong alam mo na ang sisiw na sisiw na sayo. Pero when you are reviewing for the CPA Board Exam, you are going to be assessed with 8 Board Subjects. Hindi lang sa P2-Partnership part or MAS-Variable Costing. You will take all the board exam subjects. Having limited time to prepare for the battle, you should be focusing sa mga bagay na di mo pa alam or nahihirpaan ka pading intindihin hanggang nagyon,
Bawasan mo ang time na ginugugol mo sa mga topics na undergrad palang ay master mo na at kahit nakapatiwarik ka pang magexam ay sure na masasagot mo. Allocate most of your time sa mga topics na kahinaan mo. Hindi mo naman matutunan ang Derivatives kung di mo aaralin. Kahit anong gawing mong pagtakas sa mga topics na nagka-cause ng internal hemorrhage sa utak mo, one thing is certain… You have to study it in order for you to learn.
Board exam is not a matter of how many topics you have already mastered, but it’s all about how well you understand those topics. Hindi din yun paramihan ng mag questions na alam na alam mo ng sagutin kahit pagbaligtarin pa ang mga choices. It’s about how deep your understanding is sa mga accounting principles and their application.
“Success can be achieved by practicing your strengths and working on how you can overcome your weaknesses.” – P2 Atienza (Iba toh!)
CPA Board Exam Mistake #3
Parang pagwoworkout. If you are working out everyday, it will be counterproductive. Your body needs a chance to rest and recover after working out in order for you to see the improvement.
Praparing for the CPA Board Exam is an intense mental workout. Make sure na you give your mind and soul a chance to rest and recover as well. Even the Lord took a rest when He is creating the Earth. Sabi nga sa Mark 2:27 ““The Sabbath was made for man, not man for the Sabbath.”. Taking a day-off sa pagaaral to take some rest is understandable. Unless android ka na di napapagod.
When I was reviewing, there is a day talaga na hindi ako nag-aaral, my “Me-time”. Para akong may 1-day pardon from imprisonment. I am free to do everything I want, Attending to church srvices, malling (Pag may budget), nood ng Game of Thrones, kain, meeting with friends, but most of the time, tulog talaga. Provided that I have already finished what has been booked in my calendar. If may topics ako na hindi nasunod (which I considered as “utang”), I compensate those topics by studying it in my Me-time.
Your brain can process as much. Para yang external drives na may certain capacity. If you’ll pour everything jan baka maglog and mafreformat. What you have to do is to refresh it as often as possible.
Another discipline of resting your precious brain is by taking an in-between-study-breaks. Pwedeng after 1 hour of reading e tumayo ka, take some refreshments then go back to work after 10 or 15 mins. It’s up to you. Point is, you have to take a rest.
And remember not to feel guilty pag nagpapahinga ka, lalo ka lang masstress pag inisip mo na nagaaksaya ka ng oras doing nothing. Keep in mind na you had done your task kaya ka nagkaroon ng time to rest.
“Remember that one of the Human Fatigue is one of the inherent limitations not jus in audit, but in everything,”
CPA Board Exam Mistake #2
Not Making a Personalized Study Plan
During undergrad days, I believe we are all guilty of having a study schedule at the beginning of the semester. Yung todo effort pa tayo ng paglayout ng schedule natin somewhere, pero halos maalikabukan lang come 2nd week of classes. This habit ay dapat ng itapon kasabay ng mga alala ng aming nakaraan (#Hugot).
As I’ve said sa recent post ko, the span of time to prepare for the CPA Board Exam is really limited. Wala namang narerentahan na “Silid ng Kaluluwa at Panahon” katulad ng nasa templo nila Dende na mabagal ang takbo ng oras. Magugulat ka nalang isang linggo nalang pala ang natitira bago magboard exam.
To make the most out of the limited time, you should have planned from Day 1. Here are some tips on what and how to make an effective study plan.
Connected ito sa #4 CPA Board Exam Mistakes, before ka pa sumabak sa first day ng review dapat alamin mo na ang mga topics na dapat mong aralin. Kung saan ka malakas at mahina, para maallocate mo ng maayos ang mga dapat mong aralin. You may take a self-test na based lang sa mga naalala mo pa for the past 4 or 5 years before starting the review. No pressure, kasi self-assessment naman yan and alam mo naman sa sarili mo ang mga bagay na alam mo na.
2. Choose an appropriate schedule that suits you
Connected din sa #7 CPA Board Exam Mistakes, kahit allowed ang pagsi-sit-in sa mga review centers, advisable pa din na the day you are on the counter, paying your tuition fee, you already know what schedule you will take. You should consider everything, mula sa proximity ng review center from your house/dorm; perfect time na nasa “lucid interval” ang iyong utak; and everything else.
Hindi lang dapat timing ang nasa plan mo, pati nadin ang location. Kung sa bahay o sa library ka ba magaaral; Kung sa Starbucks Dapitan or Mcdo P. Campa ka ba tatambay para magreview; kung may study area ba ang dorm na rerentahan mo; kung conducive ba na magaral kasama ang maiingay at makukulit mong classmates sa dorm, etc.,
Kailangan mag-allocate ka na ng appropriate time per subject/topic. Nung ako ngrereview, I called my style “The Combo”, hindi ko pinagsasabay ang theories in one day, baka makatulog lang ako for 100 years. Hindi ko din puro problems lang in a day, I’m afraid na baka ikabaliw ko naman yun. What I did is, I study 1 theory subject and 2 practical subjects per day. Or depende sa topics. Basta laging combo para balanced and hindi magsabaw or matuyot ang utak ko
A plan will never prosper if not executed well. Wala kang ibang aasahan kundi ang sarili mo. Hindi mo pwedeng icompel ang nanay mo na lagi kang iremind na sundin ang schedule mo. You should do it yourself kaya nga “Personalized Study Plan” eh. Designed by you… for you.
Bottomline is that if you really have the hunger to succeed, you should prepare. Sabi nga nila, “Failing to prepare is preparing to FAIL.”
CPA Board Exam Mistake #1
Relying on Your Own Knowledge
Madalas pag nasa battle tayo lalo na pag exam, nagrerely tayo sa sarili nating kakayahan. Sa sobrang tiwala natin sa sarili natin nakaklimutan natin ang tunay na source ng lahat ng wisdom and knowledge.
We’re trying to make ourselves believe na kaya na natin magexam kahit deep inside alam nating kulang pa, madami pa tayong di naaral. And yung bagay na feeling natin ay kulang is our Faith with the Lord. We are not trusting Him 100%. We are not believing how Great He is na kaya nya tayong ipasa sa Board Exam.
It’s okay to trust in yourself, but do not be too confident with yourself. Proverbs 3:5 says, “Trust in the Lord with all your heart and lean not on your own understanding.”. Sino ba ang gumawa ng examiners ng CPA Board? Di ba si Lord, so just trust Him na He will do anything for you to be successful. The Lord will never leave you nor forsake you (Deuteronomy 31:6).
Okay, let’s say na it is given na sobrang galing mo na as in daig mo pa si Einstein or Jimmy Neutron, pero there are still uncontrollable factors around us. Factors to hinder us. Pwedeng ma-mental block tayo during exam; pwedeng may magyari along the way and malate tayo sa exam; pwedeng mataranta tayo and all. “But seek first the kingdom of God and his righteousness, and all these things will be added to you” – Matthew 6:33
Hindi sila Valix, Dayag, Tamayo, etc. ang source ng wisdom natin. They are just instruments used by God to prepare us for the CPA Board Exam. Those books and review materials are just like powerbanks na limited ang source of energy, that one thing is certain, na lahat yan mauubos eventually. But if we are plugged in the ultimate source of wisdom, which is Jesus Christ our Lord, we will never experience any wisdom shortage. All it takes is to believe.
[This was also posted on the Board of Accountancy official Facebook page.]
