CPA Designation

Thursday, December 1, 2016

6:01 PM
2 streams
51 credit hours stream (probably go with that stream) ***You can challenge the exams***
The right hand side you have to take the modules, which is an 8 week course

8 weeks, every week there is an assignment which is about 20 hours a week.

The modules are gap fillers. Requires around six weeks of study.

CPA Ontario has an Oracle, which is an online tool. With all the possible questions. Densmor is a
company with study material.

Capstone 1 l one and two. Capsule one 5-6 people and you do deliverables. (one really big case, and an
assignment each week. At the end theres a presentation.

Capstone 2 final exam prep course. During time you'll study. Teaches you with case writing. Weekly
cases and then CPA will mark and give you feedback.

Post graduate program lets you skip up to capstone, but it's expensive.

4 hour exams-multiple choice, short answer (larger question with sub questions and then theres a case
component)

Common Final 3 day exam

Da1 is 4 hours based on capstone 1 case based off the group work. That company you were analyzing, its
that but several years down the road. Supposed to test if you can make strategic decisions. Marking is a
holistic approach because decisiokns can vary. Need to support answers with case facts. During
Capstone 2 there were 2 mock day one cases given out. Her day one was a complete curveball. Came
out speechless and didn't expect it AT ALL. Wear your strategic hat, and approach it like that. You can
fail day one, but only have to rewrite that day if you pass the others

Day 2 is 5 hour exam. One case

Focus is your elected role (assurance, tax, performance management, finance)
You will always be tested on financial and/or management accounting.
The main focus is role specific section. You will only answer your role. Whole purpose is to go into depth
to show you know what youre talking about

Day 3 is 4 hours, multiple cases 3-4. 60-90 minutes each. All topics, any role is fair game

Time management is key- it's the most important factor of the testing. Time constraints are immense.
Every minute counts. You have to create a plan and allocate how much you want to address each
question.

Requires strong case writing skills, which doesn't mean BS-ing.

Because it's time constraint, you have to make sure your points are clear concise. Almost everything is
bullet point. Have to support everything from the handbook.
Study period, most people take 2 months and study full-time. She wrote 40 cases. It gets really tiring,
and for day 2 for 5 hours (which sucks, it's a marathon).

It's a very different way of evaluation when compared to university. (CFE specifically)

Lastly, you can't be a perfectionist because of time restraints. If you take too much time you'll lose
marks down the road, and lose marks later. The goal here is just to pass the test. Matter of addressing
everything to pass.

You should be looking to accumulate marks and no when to let go. No that theres never enough time to
list everything.

Practical Experience
Pre-approved program route or Experience verification route

Pre-approved is going to a training office and do your time there. At the end of 30 months you'll have
your time and experience

Experience verification you can get your experience verified.

Pre approved is easier, because experince verification you have to find a mentor, and document
everything about your role.

Exams are at an examination area. Windsor might be in a church. You bring your laptop.

3 chances and after that you're blacklisted.

Passing rate is about 70-80%. It's a very different approach. Nerve racking.

Cases will have quanititative and qualitative aspects

Cases will have issues. Allocate time per issue, that comes with practice. Throughout two months study
period you'll get a feel about how much time things will take

Pro cons are usually 5 points. Never go over your time. Almost a strategic game, so you have to watch
the clock.

Write easy cases before the exam to get yourself ready for the exam. You want to be confident, don't
want to go in feeling timid.

Work experience will help with exams.

You can call CPA if you have questions.