My CPA Philippines Board Exam Experience

Hi Everyone! So I decided to create this post dedicated to those who are going to take the Philippines CPA Board Exam this October 2018. I would like to share my experience, what I learned and some tips when I took and passed the 2013 CPA Board Exam. So if you're currently a reviewee, a student or someone who is just curious, keep on reading. ;)

According to Dr. John S. Bala, the Vice Chairman of the Board of Accountancy, the CPA board exam is one of the most difficult government licensure examinations in the Philippines in terms of the low national passing rates as compared to other government licensure examinations (Bala, 2008). I STRONGLY AGREE in the sense that it is not the actual examination itself but the PREPARATION towards the examination. Last 2013, to pass the CPA Board Exam, a general weighted average of 75% is required with no grades lower than 65% on each subject.

From my experience, the chance of passing the CPA Board Exam depends on several factors. I am going to summarize these factors into five (5) which I believe are the most important and I am going to relate these factors on each steps of my journey.

1. YOUR ATTITUDE

Number one is ATTITUDE. And why? I believe that having a positive mind will result to positive attitude followed by positive actions and positive actions will yield positive results. And why do I have a positive attitude towards it? BECAUSE I WANT IT. There will be a lot of positive adjectives that will describe an attitude but I just wanna make this post as short as possible. I have maintained a positive attitude during college, my review, and on the actual board exam. Of course, it did not stop there. So be positive. ;)

2. YOUR FOUNDATION DURING COLLEGE

How well you took your college studies will affect your preparation and review for the board exam. When I was in college, I have always been taking my subjects seriously. I tried to give equal time to study each major subjects regardless of whether it is my most or least favorite. I also paid attention to my areas of weakness like Practical Accounting 2, Business Law and Auditing Theory. Can you relate? LOL. So the more I paid attention to those subjects, the more I started liking them. I read every chapter of my textbooks and if I need to read it twice or thrice or until I understand it, I did. There will be things that is not going to be explained on the textbooks so I used the internet to research, ask my colleagues and find other resources. I would say that I have above decent foundation during college. Mind you, I was also working most of the time. It was hard but with the right attitude, it is possible. I truly admire working students who paid their tuition fees and are still able to achieve passing grades or even higher.

But don't worry, if you don't have that strong college foundation, you can still make it up during the review. It just means that you have to work harder.

2. YOUR REVIEW SCHOOL

For me, choosing the best review school is a matter of preference. I know CPAR, RESA, ACE-CRC and PRTC. I would not say that one is better than the other one. Choosing a review school that will suit your preference is important. I did my research until I decided to choose CPA Review School of the Philippines (CPAR) because I believe that it suits my preferences. There are rumors that CPAR is fast-paced and is not suitable if you do not have a decent foundation in college. Believe me, based on my experience. THAT IS NOT TRUE. Their reviewers are fantastic! And they're not boring which made every session exciting. So in choosing the review school that would cater to your preference, do your research before you pull the trigger.

So here are my tips on how to get the most out of your review school.

• BE COMMITTED - This one is self explanatory. If you know you can't be committed, don't push through. Think like, it's a do or die situation. Broken-hearted? Family issues? Depressed or whatever? Set those BS aside. There will be a lot of time for that after you passed the board exam. (Yeah with the right attitude, dedication, perseverance, I believe you will pass). If you believe you need more time to cope up, do what you think will be best for you. If you know you can commit no matter the situation is, then GO. If you are working, have family, kids, stick to a schedule that you know will be best for you. There will a lot of times that things will be compromised like your work, family time, but keep in mind that your situation is just temporary as you are trying to achieve a goal. A goal that will make you more competitive in the working environment and in turn, would benefit you and your family as well. :)

• ATTEND CLASSES - Aside from the fact that you are paying for your tuition, the more you attend your classes, the more chances of you passing the board exam. Unless you are just sleeping, not paying attention or you are just there to be just there.

• HAVE A REVIEW BUDDY - You will need a review buddy so you can share and discuss topics with each other. Also, there will be times that you will miss a class especially if you are working so it is better that you have a review buddy that you can rely upon. Scratch his back, he'll scratch yours.

• FOCUS ON THE HANDOUTS - For me, this one is very very important! Some of us tend to want to know everything and I do not encourage you to do that. Just focus on the materials that is provided by your review school. Of course, you can use your textbook as reference if you forgot something. If you think you still have time to answer outside materials / books, that is up to you. I would also suggest that before the pre-board, review and answer all the handouts (again). Before the FINAL PRE-BOARD, review and answer ALL THE HANDOUTS (and yeah, again ). If you focus on the materials provided by your review school, you already have sufficient weapon for the board exam. Trust me on that. :)

• LOVE EACH SUBJECTS EQUALLY

PRACTICAL ACCOUNTING 1 - Love it! I like analyzing, following rules and applying it mathematically.

PRACTICAL ACCOUNTING 2 - You can be tough sometimes but I still love you!

THEORY OF ACCONTS - I'm a certified bookworm. We fit together. :)

AUDITING THEORY - I like reading a lot of books. Welcome to my collection!

AUDITING PROBLEMS - I like analyzing, solving problems and pointing out discrepancies. Come to mama!

Management Advisory Services - I love using mathematical equations to explain how I can make things better.

Business Law - Ignorance of the law can make a 65, a 64. You gotta love me! Hahaha!

Taxation - What did Business Law tell you? You're welcome.

• BE AWARE OF THE SUBJECT SCHEDULE ON THE DAYS OF THE EXAM - This will help and guide you which subjects you need to focus more a few days before the exam. I remember the first subject on the first day was Theory of Accounts and Practical Accounting 1 so I did a very quick review a few days before.

• RELAX. TAKE IT EASY. - You gotta relax and chill out too. We are humans not robots or computers and even computers need to be updated and shut down. When you feel a "braingasm" while studying at home, stop and relax because you won't be able to effectively absorb informations anymore. Watch netflix, play your favorite computer games, get a massage, exercise, go shopping, etc. So Relax, take it easy. Keep it cool. Enjoy the hardwork and enjoy your breaks as well. :)

4. THE ACTUAL BOARD EXAM

So you have been working your ass off for the past couple of months and the exam will be in a week. At this stage, I advice that you have to make sure everything is already settled. You don't wanna cram because that will stress you out. Make sure you have the required paperwork, calculator, pencils, pens, etc. I brought at least 3 pencils and a sharpener just in case. It's better to be prepared. I also highly recommend to just relax and chill out 2-3 days before the exam. You have been exhausted for a couple of months. You need to be well-rested and prepared for the battle. Have at least 6-8 hours of sleep. Also, your meal is important. I ate a healthy breakfast 2 hours before the exam to give time to digest it. But do not overeat. A balanced meal will not only help your brain function better but it is also good for your overall health. Also, I made sure I emptied my bowels. I don't wanna be in a very uncomfortable situation in the middle of the examination. Before I left the house, I made sure I got everything I need. I also brought some "brain food" in case my brain needs to refuel in the middle of its workout. I remember I brought snickers chocolate.

I came in like 45 minutes early. I hate being late because it stresses me out. We submitted some papers and checked for attendance. I was very calm, confident and a little nervous at the same time but it did go away as soon as the exam started. I took time understanding each questions and i did not rush at all. I also maximized the time given for each subjects. So, TAKE YOUR TIME. Also, always, always, always, make sure you MARK THE RIGHT ANSWER on the RIGHT NUMBER OF YOUR ANSWER SHEET. You don't want to fail because of that lol.

From my experience, I tend to spend a lot of time in a single question. I would not encourage you to do that but I admit, I did it once in Auditing Problems. I could have had enough time to answer other questions but since I spent a lot of time in a single question, I ran out of time and just took a wild guess answering 3-4 questions left as far as I remember. So learn from my mistake lol.

Since the board exam is for 2 weeks, there will be a 5 days break. I reviewed a little but I spent majority of my time relaxing so I won't be exhausted for the next battle.

5. PRAYERS.

Whatever your beliefs, do your thing.

"God, I have already given everything. Please guide me for the rest."

So there! It's not over yet. I still have to deal with Mr. Agony. It was almost three (3) weeks of waiting for the exam result as far as I remember. I spent those days with my family and doing stuff that would divert my mind. Another thing that is adding to the thrill is that there is no announcement of the exact date of the release. I have to check it online every morning! Until one day, my bestfriend and I checked it and we saw the results are downloading! We waited for a few minutes until surnames that starts with "T" starts popping out on the screen. MY HEART WAS BEATING LIKE A MOTHERF*CKER as we scroll it down while it goes closer to my surname! Three (3) already came out as we scroll it very slowly. If it is followed by a different surname, I will feel sad. I feel like I am going to have a heart attack! And then, DANG! I SAW MY NAME!!! I can't explain the feeling. I went jumping for a few seconds. There were tears of joy. I just knew that I am very happy. :)

These are my exam results.

Afterwards, we went to my Dad's tomb (he passed away in 2010). I told him that I kept my promise. We also went to church and I prayed to God.

My experience with passing the Philippine CPA Board Exam has taught me a lot. It did not only open new doors of opportunities career wise but it made me a better person overall. It is something that cannot be taken away from me. Something that I can share with my children. Something that I can be proud of and treasure for the rest of my life. There are a lot of other things life has to offer. Goals to achieve, lessons to learn, challenges to overcome, things to enjoy and moments to cherish. :)

So I hope that this post will help and inspire people not only the ones who will take the CPA Board Exam this year but also to those who are trying to achieve a certain goal. Cheers to y'all!