Monday, December 8, 2014

Monday, December 8th, 2014

Great news! I passed!

I ended up doing very well on the case section (because I studied that part mostly).

I always had fairly strong tax skills so i did well on that part too.

The results came out about 11 days after I wrote the exam.

I was happy to see that I passed because the list of people who failed was a lot larger than usual.

The bad news is I wasn't able to sign up for the module 2 and challenge in time! They gave me only 2 days after the core 1 exam to sign up! And after the core 1 exam was over, I relaxed my butt off!

Nevertheless, I can still challenge the core 2 exam. I might just do that.



Ending thoughts: You have to work hard and smart for what you want. Just remember in the process, you might forgo a bunch of other things. It's called a trade-off!

Wednesday, November 26, 2014

Saturday, November 22, 2014

Today is 4 days after I wrote the Core 1 CPA exam.

Here's what I have to say:

Well! It was a good experience! I highly suggest anyone who's writing it to follow my words here:

Aim to improve, not to win.

Aiming to win would be arrogant. But aiming to consistenly improve would be humbling.

That's what I did. And whether I pass or not, I learned a lot of information about ASPE and IFRS.

So all wisdom aside, here's how the event went down.

I drove to the writing centre (I'm from Toronto so our writing centre was in Mississauga on airport rd).

Before I left my home, I took the following items with me:

- my phone with inputted directions (MISTAKE! I should have used the GPS in my car, I ended up wasting 10 minutes because I went the wrong way! Yikes! Nevertheless I left an hour early so I had the slack time to make a mistake travelling)
- my laptop (I did take my laptop adapter wire, but never planned on using it because I didn't they were allowed. THEY ARE ALLOWED! IN FACT almost everyone had a laptop wire.)
- my laptop battery which was attached to my laptop. It had nearly 7 hours of juice before i wrote the exam. I kept that baby charged!
- pencils (you could bring them but you won't need them, they supply you with pencils!)
- an eraser (you will need one most likely, and it won't be supplied unless you want to use the one at the end of their pencils)
- I didn't bring a calculator because I knew they would supply one! The one they supplied was exactly like my BAII Plus calculator. Except theirs said CPA on it and you couldn't take it home. Ah well!
- the practice case solutions (I reviewed whenever I possibly could. E.g. a red light. Before the exam started)
- 4 yellow highlighters and one red & one blue marker which looked like highlighters but were actually markers. (I tend to highlight practically everything I read)
- Water; useful! I didn't spike my water with vitamins as usual, but it was still good. They were actually anal about this, when i got there they were like ARE THE CONTENTS OF YOUR BOTTLE CLEAR!? I was like... Yessss. And then, they took off the label off my bottle, so i was left with an entirely clear water bottle, which was fine.
- a giant bag to carry my laptop and anything else I just need if I'm going out anywhere.
- I used a jacket with zippers to hold everything I would be using during my exam, so I wouldn't get confused about where I put what right when I got there.
- a pencil sharpener to sharpen the pencil (I was told right before I wrote the exam, that I was not allowed to have that at my desk! My reply: How am i going to sharpen my pencil if it goes dull? Supervisor's reply: Don't worry we're going to give you 2 pencils! And two pencils WERE given, so don't bring a pencil sharpener. I'd bring one or two well-sharpened pencils before you come)

I cannot believe how many people used zip lock bags. Yes, in the video, they tell you to use zip lock bags at your desk or behind your desk, because this is actually what they put the core 1 exam in. Ridiculous. If I want to use a zip lock bag, it will be for frozen food! or a sandwich! Not an exam! Or writing supplies! Okay, I am guilty of using a zip lock bag for writing supplies, but that doesn't change the fact that it's an out of the box method! My suggestion to anyone who plans on writing the core 1 exam: don't use a zip lock bag, unless you studied with one. I would just bring your supplies as I did (i.e. put some highlighters in your pocket (i.e. highlighters of different color), a pencil and eraser and that's simply all you need! Oh and a brain, bring that too!)

So once the exam started... It didn't! And by that I mean, the supervisors made us wait 15 minutes for them to solve their technical difficulties. Which is totally understandable, but during those 15 minutes they literally expect you to sit in your seat, not to talk anyone and don't do anything but listen. Well, if this isn't training for becoming a perfect sheep, I don't know what is! My advice to the prospective exam taker is. DO everything you have to get ready for the exam, but look at useful stuff on your laptop like a solution to a practice case or something similar like practice MCQ, and then when they finally tell you to login and write the exam, go ahead and do that because it really doesn't take too long.

Okay so they give you this laminated sheet that tells you how to enter and exit secure exam. Their was no password to start the exam. we simply had to write Start. Their was however a password to end the exam which was EXACTLY the same as the password to end the exam for the MOCK exam. I highly highly highly suggest anyone writing the core 1 exam to do the MOCK exam that they upload on D2L to help you prepare for the core 1 exam. It will help big time.

***HIGHLY APOLOGIZE TO THE READERS OF THE BLOG, because a large portion here was removed so that specifics of the exam would not be disclosed, since I have agreed to not expose exam details that I have written. I'm sure it's fine to write about how I prepared for the exam but to actually explain exam specifics, I would probably get in trouble for that; as a result, it was removed.***

MCQ was full of various questions. Most of which accounting, some auditing, some tax, some cost accounting. They really spring questions on you and it COULD go like this:

- HERE"S AN ACCOUNTING QUESTION
- HERE"S AN AUDITING QUESTION
- HERE"S ANOTHER ACCOUNTING QUESTION

so basically their might not be a uniform order; like a sporadic order of type of question.

get really fast at typing, if you're not fast already.

I type fairly fast! And I still had trouble writing my case quickly...

I started freaking out as i wrote the MCQ, but I did make good time. They give you three hours.

The end was a lot of silent waiting too. You can't really do anything at this point. Exit and save the exam when they tell you to, and then you can enjoy the experience as much as possible and LEAVE. Be on the lookout for friends who were in your CORE 1 orientation classes and talk about the exam or whatever else you'd like to.

Those are my 2 cents on the exam, and I hope you enjoyed this short yet informative blog. :)

Friday, November 21, 2014

Friday, November 21, 2014

So I have completed the basic exam prep case along with simulations + MCQ (<-- only one round of 70 questions though, they give you a whole new round of questions everytime you input answers I believe, fortunately they're similar so it's not entirely tough; still scary though)

I just completed the Nuclear Excellence Inc. case. It helped me with identifying accounting issues and these two auditing functions: risk assessment (which is just identifying the risks of material misstatement) and materiality ( which is just talking about who the users are, what they're interested in, what to base materiality on (generally it's 5% of NI or 2% of total rev. <-- esp. for NFPs), the accounting issues that need to adjust NI with, and then to arrive at a materiality amount, and lastly talk about performance materiality & the amount of testing needed.

Now, to review my cases. I'll have to do a lot of printing i think. Or not!... Noooo, here's what I think I need to do:

Master those damn practice cases! I had a new one every week. We had them PEER reviewed. So, I need to ensure that I can do the practice cases NICELY! Then, I'll move onto the immersive cases.

The exam is nearly 24 hours away, and while I am ready, I need to test myself more to ensure I'm ready on the dot.

Oh yeah, I've noticed eating really healthy food makes you fall asleep no matter how long you want to stay up! So it gives your brain the sleep it needs. Furthermore, It also makes you INCREDIBLY HEALTHY! I was feeling "uneasy" for a while, not going to explain further than this, and WOW, thank you thank you thank you healthy food + sleep! I could kiss you! In fact next time I eat some brocoli I'm going to kiss it, before I chop it up and gobble it up. Romance at it's finest! Said the praying mantis.

------------------------------------------------------------------------------------------------------------------

Well it's getting closer to the time of the exam. I've started to get a hang of the auditing part of the cases. I need to do more practice cases. I've made a decision.

from 7 PM till 10 PM my butt will be in my chair studying.

so before that point, I will be eating a bit of food, and possibly refilling my water bottle!












Thursday, November 20, 2014

Thursday, November 20, 2014

Let the studying continue.

No Matter What I'm going to study from 2:55 to 4:25. <-- An hour and 30 minutes.

I'm beginning to realize the following:

Although the exam is 3 hours long, as long as you know your stuff, you can get it done REALLY fast. Especially the case.

The exam is comprised of:

- a case or two cases (focused on Financial Reporting and Auditing)
- MCQ (55 to 70 questions)
- a mix of case and mcq questions

Fortunately you get access to the Folio Views. But the more studying you do, the less you need the Folio and the more you will understand how the information relates to the folio.

I'm eating brain food up the wazoo. Okay so 5 minutes till "show-time" lol. I'll use it to nap. PAYCE!~

Okay so Im back. Yup, lasted my 1 hour and 30 minutes. Just eating stuff now. Healthy Sh-tuff! Some things I wanted to mention:



- You'll reach a point in your studying where you start to freak out (I think i mentioned this earlier), you start thinking OMG I can't go further! I'm going to die of boredom. But surprisingly if you let go of this pain threshold or whatever it is, you literally forget how bored you were. That's not to say you shouldn't try and minimize distractions you'll have during the test like hunger, or thirst, or bathroom time. I'm just saying you can ignore them, try it out and see what happens! Or not! That works too, you can always ask the invigilator to take a bathroom break, that'll solve the bathroom, thirst, and even hunger problems if you're a real sicko! lol I'm kidding. If I weren't talking on a blog regarding a professional body you wouldn't catch me saying "I'm kidding"... I hope that doesn't negate the I'm kidding part. I really am! Sense my sincerity here? ha ha :P Anyways, I'm going to watch something entertaining while I eat my healthy grocery treasure I purchased yesterday, and I'll be back here with more updates!

Tuesday, November 18, 2014

Wednesday, November 19, 2014

I got a giant super extra fashionable (NOT) battery to stick to the back of my laptop. Either way i love it as it lasts really long, much past the 3 hour point. and I got it for only 70 bux with tax and everything booya! no need to buy a new laptop yet 8-) oooo yeahhhh.

I finished the case portion of the practice exam and now i'm doing the MCQ. Uh oh. looks like they keep giving me new MCQ as i finish the MCQ. (I went through the entire thing once already with wrong answers so they'd show me the right ones.) what else... Nothing! Just gotta keep moving!

----

I have practically SMUSHED my record by studying 4 hours straight. Love this new laptop battery... This just goes to show that we humans do not always learn or grow in a linear fashion. We learn and grow by plateauing. That might mean a long stream of failures and then BOOM! success. Regardless, I'm going to go back to work, because well... This stuff is hard! Gotta have solid accounting skills for the core 1 exam. No doubt!

Finished studying for the time being. Afterwards, ate some walnuts, chia seeds, + cinnamon + cayenne + yogurt, which all combined for a nutritional snack. Oh and two pieces of chicken. I was hungry!!! Then I wasted a good hour on watching funny/entertaining channels on youtube. Now that I feel like I've wasted time, I have a strong sense of motivational PUSH for the next round of studying. I'm probably half way through the practice MCQ questions. They can range from easy to tough. I feel full! I'm going to rest.

The whole drink with solutes thing REALLY helps during a long study session. Especially near the end. Another source of motivation, take a look at something you do really well, now ask yourself is their any reason why you can't apply the same quality of outcome to other activities in life?

7:30 AM *off to nap/sleep* hmmm I'm going to try to make it a short one. The core 1 exam will take place at 8 AM so if i get in the habit of knowing relevant stuff at this time of day, maybe I'll build up a pattern/state/cycle where I know these things at 8 AM lol.

Sunday, November 16, 2014

Monday, November 17, 2014

So I feel like I have everything adequately set up to study. Securexam, all the files that were provided.
I'm ready to study. But honestly, I haven't gotten around to it, because I've been busy with my girl. And also really didn't feel like it.

Anyways. I'm just going to use this blog to track my progress. I think it should be a very good motivator.

it's currently 1:16 AM. And while most people go to bed at this time, I've created a sleeping pattern that helps me function during this time.

So the plan is to leave to study at 1:25 AM. Then work for how many hours? Well last time I worked for an hour and 15 minutes straight. Okay you may not think it's that long, and... You're probably right! The core 1 exam is 3 hours long, and I think when the time comes, I will definitely be able to sit those 3 hours. Even if I get antsy at home. I'll aim for 2 hours this time. And I will commit to it. NO MATTER WHAT. if i can get past the 2 hour point. that's great. But if I reach 2 hours then props to me. Because I have improved quantitively. Using small goals to reach big goals!

Here are some things I came up with last time:

- eat and drink water so you feel somewhat full

- go to the bathroom before you actually sit down to study for a long period of time. 

- brush your teeth, you don't want to be sneezing during the exam

- turn off any distractions

- keep your room well lit

- try to emulate exam scenarios

- wear clothes you will wear at the exam

So it's 1:21 AM, and I will be studying from 1:25 AM to 3:25 AM for sure!

Yes, GET RID OF DISTRACTIONS you think you might have now because once you COMMIT to that study time, you want to make sure it's easy to commit and not hard.

That being said, I'm going to wash my hair (because I have this feeling it needs to be washed lol) and then I'm going to study hard. I think I can do it. I believe in myself. And I'm smart (Positive affirmations!)

*2 hours later*

So, it was a good study session! Albeit, it didn't last the full 2 hours. FAIL! And that's OKAY! because failure leads to success! So huzzah to failure. Hope we meet again shortly.

I have this thing where I wear rings to remind myself of memory anchors, so I'm doing that. While I was reading a portion of the case, I realized i wanted a memory anchor for reading the case carefully. Normally, I just use my glasses for this. But recently I bought a cool ring in the shape of my glasses. I looked hard and ended up organizing my room and finding money and other various items, but no ring! It's all good. I got my glasses as a substitute. Which I always used before so. Hope it's sufficient.

Anyways, here are some things I noticed. 1 - it was tough! 2 - It's very easy to get side tracked. 3 - I want some juice, my brain gets tired of staring at strange information for minutes upon minutes. lol Feel free to ridicule me internet, but I really don't care. Hence the creation of a public blog!

What else.... Hmmmm... Oh so I have two rings, one of them stands for a constant process I go through:

Read the information carefully to build an understanding, and then type out what's happening and what's happened, then state some criteria related to what should happen at YEAR-END. and then go ahead and classify according to what accounting element you think it should be or what principle it satisfies. So far I've used the revenue recognition principle and classification of a liability. Yes Juice! Let's watch that video *watches*

I've been using ear plugs, they supply you with ear plugs. I may purchase a computer tomorrow or even... right now lol. they also supply you with a calculator and a USB stick.

Okay, ridiculous, but i'm probably going to do it. Bring my pencil, eraser and highlighters in a plastic bag. I cannot believe it. They're not allowing pens to the exam! Mega lame! I'm a fan. SMH (shake my head). They also are NOT allowing weapons of any kind... What the hell!? What am I going to beat someone with if they make too much noise!............... That was a joke, in case you didn't notice.

Okay, I'm pretty damn sure they will allow me to bring in a bottle of water so that's good. I needed one! After 2 hours had passed. You know because I was busy cleaning my room and all, I worked up a good sweat. Warning, this blog will include a large number of jokes. Full disclosure has been provided. HMPF. Okay. I'm going to have a snack, a quick 15 minute nap, and then I'll be back at it again.

*Thoughts while I'm eating my snack* I need to practice with my drivers license sitting at the edge of my desk as odd as that sounds. They require you to have it on your desk as you're writing!

What else? I got my water bottle, I'm going to add some grinded up walnuts and almonds into it, so that I can get some nutrition out of it, SOLUTES! Your body needs those too! But yeah, I will definitely need to eat quite a bit before the exam. I have a large appetite, and I don't enjoy hungry thinking although I can do it.

****So, I decided to buy a new battery for my laptop, rather than buy a new laptop, cuz a laptop is practically a fixed asset a huge purchase! The battery I currently have lasts 1 hour and 45 minutes or so which is not good since the exam is 3 hours long. It's interesting... The laptop batteries that was available for my computer model is 12 cell as opposed to the 6 cell which I currently have, so it will likely pack twice the amount of juice. This is assuming I buy an old one. Because I'm pretty sure my battery now packed 3 hours when I first bought it. However it's old. So a new 12 cell could possibly store even more than 3 hours <-- which would be great! a nice safety buffer. ***** Ultimately, I need 3 hours worth of juice for the exam. I'm going to need to wake up at a reasonable time tomorrow, so i can hit up bestbuy or futureshop or even ubattery <-- an online store i found which might be right beside me so i can buy the damn battery. LINK FOR ME TO BUY BATTERY :) Okay all battery issues aside, onto the normal stuff:

Well, I just wokeup from a nearly let's see 4 AM to 8 PM that's 16 hour sleep? Holy smokes lol. Guess I was tired! Damn, that sucks... What a waste of time... I think! Sleep is essential for a strong memory, and I'm going to try and study for my longest period of time and record. I'm feeling incredibly fresh and ready. My dad just walked in and check on my cleanliness. He said experience will be key to acing this exam, and i believe him!

Now I'm going to grab my clear plastic water bottle. And then I'm going to do some practice core exam case work. Let's see how far I'll get! I think i'll get really far!!! I'll start work at the following time:

9:20 PM (<-- I wanted to say "Setting time limits like this REALLY helps get your butt into gear!")
10:55 PM ( I took a tiny break to say: No watches! So I just took off my watch. Also they said no large jewellery, hmmm I wonder if they'll make me take off my rings! I doubt it. So I'm keeping them on. They're sort of a legal cheat in that if you let the rings stand for something related to solving exam problems, you get to wear them and use them. Meanwhile other candidates may or may not be doing this. Score!)

So I had to go to the bathroom, and I basically supress the urge and everything's A okay!!!

You know for example when you're hungry? And you're like "Dayum!!! I'm hungry!" Then hours pass and you say something like "I forgot I was hungry... I'm not even hungry anymore" lol! So this is my experience supressing the autonomic nervous system. I hope yours will be roughly the same.

Okay! Back to work. I'm done with the accounting issues for this case. I rewarded myself with my bottle of water (with secret lol pieces of almonds grinded up into it). Okay, so I'm not reallycheating here but whatever. I think it's just smart studying to be honest. Your body NEEDS solutes in a solvent like water. It's common sense. This is why people who go running and drink only water can possibly pass out, because they don't have any electrolytes to keep them awake or vitamins and minerals to keep them fed. so DO drink something that has solutes! I'm using diced almonds because almonds give you a small source of potassium which IS an electrolyte, furthermore it has lots of vitamins and minerals like calcium, Iron, magnesium, vitamin-b 6, vitamin e, fiber, antioxidant phytochemicals (phenols, flavonoids, proanthocyanidins, and phytosterols), or arginine. (Source of information MIT and google!) Okay!!!! Nuff about almonds back to work!!!!

In the words of Han Solo "Don't get cocky kid!"... Leave it to a fictitious Sci-fi movie to encourage you to study harder. Haaaaaa. Okay, So! I'm onto the tax part. I realized that my study session is really going well. I'm STILL mega worried about the battery life, but i'll have to wait till tomorrow to buy a giant fashionable (Haaaaa) battery to *SPLAT!* (sound effect) on the back of my already so-handsome computer.

OH! i just realized that I actually added cinammon to my drink that I will be drinking during the exam (and during study sessions). But I didn't add my cayenne pepper that I usually add to my snacks. I'm going to start doing that. Why not, my blood needs to boil a little right? No, but honestly, cayenne pepper improves blood circulation and reduces inflammation. Think about when we study our freakin' foreheads get so inflammed and burnt out. Maybe it'll help this condition.

Some tips on maximizing memory according to research I did:

Specifically this is what Dee Sandquist, M.S., R.D. a spokesperson for american association of dietetic, had to say: eat healthy fats, fruits, veges, whole grains, SALMON, WALNUTS, FLAXSEEDS, SPICES (E.G. TUMERIC, GINGER). Also B-VITAMINS <-- complex or eat BEANS, WHOLE GRAIN BREAD/PASTA. GREEN TEA, DEEP COLORED FRUITS/VEGES (E.g. blackberries, beets, radishes, broccoli contain phytronutrients that boost brain health)

According to naturopaths: best supplements are phosphatidylserine (ps) keeps cell membranes intact and enables cell communication preserving memory (suggested daily intake 300 milligrams)

then the best herb for memory is ginko biloba which helps increase blood flow to the brain and acts as an antioxidant (daily dose vary from 120 to 240 mg)

Another great herb is Bacopa Monniera (daily dose 200 to 400 mg), eat fish because it has good levels of beneficial fatty acid DHA. need i repeat "SALMON" lol.