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Studying for REG, I've decided that it could best be described as Business Law and Tax (BLT). I've taken individual and entity taxation classes, and a basic Business Law course and that covers practically everything in REG. Right now I'm studying the subjects in business law not covered in the class that are mentioned in the CSOs. In the process I've frequently found myself studying notes from the Bar exam. I guess you could say that a miniature version of the bar exam is a part of the REG section of the CPA exam.
I'm actually a week behind my schedule leading to a July 13 exam date. That may be a good thing. The 13th is also a Friday. Also, I discovered that my degrees won't make it to my transcript until mid to late June, so there may not be enough time to get exam qualifications approved with the state board until later in July.
I have heard many say that CPAs rarely use most of what is on the exam in their jobs. That may be true, but I've found the material I have been studying very informative and potentially useful. Things like contract law, bankruptcy, commercial paper, and secured transactions. Of course, I'm looking more to working toward consulting instead of full-time auditing or exclusively taxation.
I've also heard that if possible, it's best to get the exam out of the way before going to work. I understand the scheduling challenges, but it seems that work in the same area will only enforce exam study. I feel much more confident about taxation after doing tax returns in my recent internship. I still need to study, but there are so many things that I've learned in the work environment that I won't have to relearn.That's also why I'm taking REG first. I would probably also prefer to be working in Auditing while studying for AUD, or doing something with books while studying for FAR. I wonder if there are firms that have a sort of work-study program that match job duties with the part of the exam the person is working on. That would by impressive.
Anyway, that's my first blog post here.