and i didnt pass, that freakin means two - three god awful months more of studying for the same shiyat again
g-d damn CPA exam results came
- Thread starter kermalou
- Start date
I graduated with an accounting degree and I didn't take the CPA test but I heard that 80 something percent of the people fail the test the first time.
Took my wife 3 times.. Did you pass any of the sections? Or do you have to take them all over again?
Everyone fails on the first time dood, don't sweat it. Just keep plugging away. Anyone that passes the first time is a complete genius, don't feel bad at all. Keep your head up - you know exactly what to expect and you're that much closer to passing it the 2nd time. or the 3rd. or the 4th, or 5th, or 6th............or 15304340930943434 time 
BrunoPuntzJones
Lifer
- Feb 24, 2001
- 14,513
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IIRC 11% of people pass the first time. 20-25% of the people taking it pass each time. And something like 75-80% of people who don't pass it by the 4th time, won't.
You have the computer version coming up though in April. One part at a time.
You have the computer version coming up though in April. One part at a time.
you suck, the last exam i did, the cfa, i passed with flying colors despite the pass rate being 43% globally.
it varies by state. Most states require you to have 100 or more hours of relevant post-secondary education. I believe there are 3-4 states that do NOT require anything beyond just taking and passing the exam.
well not to burst your bubble, but the people doing the cfa are smarter, and the cpa exam is all nuts and bolts and i admit i would have a hard time keeping awake whilst studying that let alone getting exam ready.
BrunoPuntzJones
Lifer
- Feb 24, 2001
- 14,513
- 4
- 81
How you figure? 43% pass? CPA exam is closer to 20-25% pass rate.
Requirements for the CFA - Bachelor degree, or 4 years work experience.
Requirements for the CPA (for most states) - 150 hours of college, with 30 in master level accounting courses. 1 year work experience in a decision making position
So the CFA you have about a 40-45% passrate with people who only have to have a bachelors, the CPA you have people who basically have a masters in accounting and only 25% pass.
CPA exam is 14 hours or so to boot.
You'd be laughed right out of the room if you tried to argue that a CFA held as much recognition as a CPA.
If you wanna talk about hard, look for folks who have a LIFA, Authorized Business Valuator, or Actuary. Extensions for CPA and other folks.
that's really a broad and, in my opinion, stupid statement to make. From this thread here, it seems like you have only take level 1 of the CFA.
Having completed all 3 parts of the CFA, I think I am in a better position to judge the "difficulty" of the CFA. While not commenting at all regarding which one is more "usefull" or "valuable", I can guarantee you that the CPA exam is more difficult than any one of the CFA exams.
Remind me to never have you do my taxes
Seriously.
The CPA exam is more than just taxes, it has four parts: cost/managerial accounting, financial, taxation and auditing.
lets not forget accounting is nuts and bolts. the cfa is only half the picture most people do an mba or something else.
right... cause no one with a CPA goes to business school?
After you are done with your CFA, I am sure you will realize that it is nothing more than "nuts and bolts" either.
at the end of the day it takes a lot more to be a quant or run a quant book or run the numbers of fof anaysis than the cfa doesnt it? you have to be smarter than the next guy. accountants are basically farmers, and accountants who dont run business units at large firms are nothing to get jumped up about. most accountants who deal with the city just do sell side stuff or a bit of due dilligence.
if i look at the people who sat the cfa level 1 exam with me and intended to pass there were four. i was 23, the others were 29-33. one had an mba and was a hf analyst on l/s, he passed, i have a masters degree and passed but no experince, and the two iknow who failed had been doing an msf the year earlier. clearly the cfa is a bit more than remembering accounting rules. so bruno, no you dont need mad qualifications to sit the cfa, but most people have some, and many people take the cfa after one or more of an mba/ msf/ phd/ cpa/ cima even.
the cfa wont get you to make money, but it gives you the personal tools to do the job, the other tools can be hired by the hour.
if i look at the people who sat the cfa level 1 exam with me and intended to pass there were four. i was 23, the others were 29-33. one had an mba and was a hf analyst on l/s, he passed, i have a masters degree and passed but no experince, and the two iknow who failed had been doing an msf the year earlier. clearly the cfa is a bit more than remembering accounting rules. so bruno, no you dont need mad qualifications to sit the cfa, but most people have some, and many people take the cfa after one or more of an mba/ msf/ phd/ cpa/ cima even.
the cfa wont get you to make money, but it gives you the personal tools to do the job, the other tools can be hired by the hour.
I don't know why you have this preconceived notion that "smart" people don't take the CPA... About 40% of the CFA material is accounting & financial statement analysis (ie, more accounting).
Once you have finished your CFA program, you will undoubtedly find that these sections are the most "difficult" (if you can claim any sections are difficult) parts of the exams. The depth of coverage for the other sections (ie, options, bonds, "ethics") in the exams is so rudementary that you would be foolish thinking that they give you a good insight into how things work in the real world.
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