How to Choose a CPA Review Course

2007-03-08 10:33:40

( Business )



Becoming a Certified Public Accountant or CPA means not only completing about 150 units of college accounting courses but also passing the difficult CPA board examination given by the American Institute of Certified Public Accountants (AICPA).

The Need to Take a CPA Review Course

Per latest statistics, only about a quarter of all CPA aspirants passed the examination. This is due to the nature of the test questions, which not only covers basic accounting theories and procedures but also current updates and practical work applications. In fact, some of the topics covered in the exam may not have been taken up in your college accounting courses.

This is why CPA educators and practitioners recommend that you take a CPA review course which is normally several months long. The test review covers four major areas of accounting: financial accounting and reporting, auditing, regulation, and business concepts.

Many schools offer CPA exam review courses, either in a classroom or online setting. However, they vary in terms of costs, course length, and review methodology. Typically, accounting professors of the school give seminars, regular assignments, diagnostic and mock exams, and periodic evaluation of your progress.

Areas to Consider in Choosing a CPA Review Course

Perhaps the biggest consideration would be the amount of time you can actually devote to taking the course. Some schools give full day classes, while others require you to attend only a few hours each day, or even work at your own pace.
You should also give yourself sufficient time to review before the date of the exam. Schools have different policies with regard to missing any session.

You should consider whether you want to attend classes at a school or take them online. In most cases, the online courses can immediately check your tests and pinpoint any weaknesses that need further attention. The online version has the additional advantage of 24-7 consultation with your mentors. On the other hand, a school setting may enable you to go to a library for references. You are also able to share feedback with your teachers and co-reviewees.

Cost is another consideration, although this should be relative to the quality of the CPA review program. Well-known schools like Kaplan CPA Review charge higher than less-known ones. Many schools try to give you your money's worth by allowing you to "preview" some lesson materials before you enroll, or to retake the review tests you didn't fare well in.

Also consider the credentials of the school's administration and faculty, like the schools they graduated from, academic attainments and work experiences.

Also look at their methodology, in terms of instructional, reference, and test materials. The test items in particular should be similar in content and style to the actual CPA exam.

Find out more about the school's reputation through your peers, college professors, or through practicing accountants. There are also journals and publications that report the passing rates of various schools.


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