I’ve been against this “Cash for Clunkers” idea from the start. What a horrible idea and the whole thing went over like a fart in church. Sure, many people saved money on the purchase of the new vehicle. Those people would likely praise the program. But, from a macro economic viewpoint, this program did nothing of benefit and likely was nothing more than another EXPENSIVE gubment mistake.
I ran into this article published by Harvard Business Publishing that I found interesting.
I am thrilled to report the good news. I studied my ass off for that test and feel very validated that it paid off. You could argue that I over studied by 22 points, but that is just my style. I call it insurance.
Considering the difficulty of the CPA exam, I am obviously on “cloud 9″ over having done this well. The pace is set and I am well underway now to wrapping this CPA cycle up and moving onto the next game.
I am currently just about half way through preparations for the FAR section of the exam and am planning to sit for that section on October 5th. I’ve got my work cut out for me between now and then. No rest for the weary. Obviously, the goal will be to pull of a repeat performance. However, anything above a 75 (minimum passing score) will find me smiling.
My wife deserves some kudos for this accomplishment as well. We work as a team. Her income and stability is what is allowing me the ability to pull this off. If I would have had to work full time while studying for this exam (many people do this), the grade likely would have been different. However, being able to wake up every morning well rested and study for this thing full time, take lots of breaks, etc has allowed me to maximize my preparation. I will take the credit for actually doing the deed that needed to be done, but she deserves her share.
WE scored a 97 and have three more beasts to tackle (and one more accounting class) before the fat lady sings and I can label myself Bryan Risley, CPA.
I am slowly learning the entire Bach Cello Suite #1 (6 movements). I posted the first movement here:
Click Here
Here is the second movement – Allemande. I am working on the third right now and hope to post it within a few weeks. I need to work on my fluidity. I am still wrapped up in merely executing the technical aspects, that the raw musical beauty seems to be hit and miss. As with all these Bach pieces, they have the power to bring tears to your eyes – not sure my rendition has the power….yet!
Enjoy!
WTF? Seriously.
Dealers who participate in the cash for clunkers program are required to “embalm” engines on the trade in cars and ship them off to be crushed. This requires, draining all the oil, pouring in a silicate solution that hardens with temperature, then redlining the engine until it permanently seizes up.
Examples:
I first thought this was just a few kids getting off on destroying stuff. But, this is required stuff. You trade in your vehicle, even if it runs just fine in order to take advantage of the program and this is the fate your vehicle will see.
Shelving my car loving sentimental feelings for a bit, this is just wasteful. “Eliminate government waste”. Here is a perfect example of spending MY (our) tax payer money to replace a vehicle that still runs in most cases. Look at that Volvo in the video above, its like a new car! If someone wants to sell their car and get a new one, that is fine. But, then someone else buys the old one and continues to get use from the asset. “Return on capital” is what it is called.
This is something fitting from the Glenn Beck show:
You want to talk about a disposable society? Here it is. Let me ask you, are you someone or do you know someone in this economy that could use a working car? Do you know somebody who’s fallen on hard times that can get their car repaired? Do you know somebody who’s driving something unsafe because they can’t afford something else? Do you know someone looking for a used car? Who will now find that prices are artificially higher because the government is inexplicably shredding a quarter of a million used cars that could be used on the market? Are you somebody who’s going into college that wants to buy a used car? Good luck. We have seen this destruction before. FDR did it. In May 1933 Franklin Delano Roosevelt, as part of the New Deal, he started the Agriculture Adjustment Administration. Business for farmers, not real good. Kind of like the car business. He wanted to artificially alter the farmers market. Sound familiar? Cotton prices he deemed too low. What to do, what to do. He created a nonexistent shortage. He destroyed 10 million acres of cotton.
Makes me want to go whisper sweet nothings at my Jeep.
Sickening!
The REG section of the CPA exam was honestly not that bad. However, these exams are often deceiving from what research I’ve done. Therefore, a pass is certainly NOT a given. It could honestly go either way. I just have to be patient for a month or so until the grades come out. If a pass, then I can pat myself on the back for having passed one of the most difficult sections of the CPA exam. If a fail, then I’ll pull out my book and try again. Such is life.
Under the assumption that a pass is on its way to me, it is time to move on. I spent the entire weekend relaxing. I tubed down Rainbow River in Dunnellon, FL with my wife. That was a lot of fun, but DAMN did I pay!!! Not financially, but in terms of being sunburned. I under estimated the length of the 5 hour trip and didn’t layer enough sun lotion on. My back had never been so burned before! I’ve since moved from the pain phase into the itching phase. I took Saturday off to relax. Sunday, I flew for three hours with my two students and had a fish fry in the evening with the in-laws. Today was logistics day. I washed both of my cars, changed the oil on one, and vacuumed them both out. Later, I need to clean my office, update Quicken, and plan out my study time line.
Starting tomorrow, I am going to hit the ground running on the FAR section of the CPA exam. I am aiming to take it 10/5/09. That is a doable goal, but will require a solid effort to attain. FAR is the toughest exam of all four sections. I’ve always been good at financial accounting, however, so do not foresee a problem.
I owe myself a big fat CAO cigar for having taken the REG section. However, I have decided to hold off until I get the score. Assuming a pass, THEN I’ll have something to celebrate.
After a fairly long journey, I have just closed the book on the REG section of the CPA exam. Showtime is tomorrow (7/23) at 12:30pm. I’ve honestly put everything I have into preparing. Likely, I’ve logged some 350 hours of prep on this exam if you consider that one of my classes in the spring semester covered a good chunk of this stuff. I’ve out studied my peers by a factor of 2x, at least. The average amount of time put into this section is just over 100 hours. Being unemployed at present gives me the asset of TIME. It is perhaps my greatest advantage right now.
As I flip through the materials, there is stuff I have forgotten already. But, I must draw the line somewhere. The shelf life of some of these details is a matter of 24 hours it seems. A good chunk is conceptual understanding, but much of it is outside of cognitive reasoning and just requires raw memory.
I’ve been using Gleim study materials and have an overall average of about 82%. However, all indications I have gotten indicate that Gleim prep is more difficult than the actual exam. Observation into actual metrics from those who have used Gleim (spoke to on internet boards) seem to indicate that the actual score comes in about 7-10 points higher than Gleim. By that token, I am potentially poised to pull in anything between an 82 and a 90. The minimum to pass is a 75.
No matter what happens tomorrow, I’ll be better off for having taken my first swing at this monstrosity of an exam. I remind myself that this is more of a marathon than a sprint. Even after all this studying and assuming I pass, I still have three more beefy sections all waiting for my brain to digest.
I’ve honestly put my ALL into prepping and all indications I have seem to indicate that I’ll find success tomorrow. But, if not, I’ll try again until its passed. Such is life and such is this game. It’ll make the goal that much sweeter.
For now, wish me luck. I am going to need it. Most people walk out of the exam feeling pretty roughed up. I will probably follow suit. However, 17 hours from now, I’ll be home and it’ll be over. My wife and I are going to have fun over the weekend and I am NOT going to think about accounting for a few days.
The FAR section is next up. I’ll begin tearing that one up Monday or Tuesday. Unfortunately, I will not get my REG grade until September in all likelihood. I’ll just have to be patient.
I’ll post a damage report next time I make it to the computer. For now, I just need to harness the power of the FORCE.
T-minus 8 days and counting…..
Tonight I took final exam #2 of 3 for my summer term classes. I have the last final on Thursday, at which point I’ll have 147 credit hours in the bag. I need 3 more to hit the magic 150 required for CPA licensing. Cost Accounting and Control II is the lucky class that gets to enjoy my presence during the fall.
I am prepping REALLY intensely for the REG section of the CPA exam right now. At this point, its like carrying that really big load of laundry from the dryer to the couch – just pick up the socks…oppps, there goes another one, let me pick up that underwear, DAMN, there goes a bra (NOT MINE!!!), etc. I’ve crammed so much information into my head that I occasionally run across a question that I forgot about only to look it up and sure enough, I’ve highlighted the information, underlined it, etc. I’ve been here before. I just cannot retain everything. During the last six days leading up to the exam, I am going to try to hit 50 hours of prep that way I’ll be maximally crammed for the following day – test day.
However, I am trying to plug the holes and build on my weak points. As it stands, I know where I am weak and know where I am strong. I am consistently scoring in the 80s (uncurved) on the practice exams. The actual exam requires a 75 (curved) to pass. All information seems to indicate that I’ll have success in 8 days, but I will not know until I walk out of the testing center (preliminary guess), with final certainty coming when the results come out (1-2 months later).
I am enjoying the challenge, but I cannot say I am having fun. Its like running through the pouring rain when your vehicle is on the far end of the lot. You just suck it up and keep going knowing eventually you’ll get there.
More later on…..
After over 3 months of molasses speed government processing, my official “OK” to schedule the first part of the CPA exam came this evening. I scheduled the REG section for 7/23 @ 12:30pm.
At present, I am very close to finished with prepping. Considering my demands to finish up the summer term coupled with my two flight students on the weekends, I think three weeks is just about right. Not too far away and not too close.
Things are shaping up. I took a practice test tonight and scored an 84%. I am happy with that score as the real exam is curved. That grade would likely reflect a 90% or so in reality.
I don’t post much as I am putting in 8-10 hours a day on studying. I slightly underestimated the breadth of this thing. But I am up to the challenge. In 3 weeks and a day, I’ll be 25% done with the exam.
Michael Jackson certainly had more than his share of demons, especially towards the end of his life. But, this guy will certainly be regarded as one of the most talented entertainers to have ever lived. I am in awe of him as an artist.
Godspeed!
This is a Bach piece I finally figured out. This one took a little while to get under my fingers. What should I learn next????
Life is sort of on a straight away right now. Not a lot of exciting day to day things going. Everyday is basically the same consisting of getting up, taking care of animals, eating breakfast, studying for 3-4 hours, taking a lunch break, studying for another 3-4 hours, the occasional class, dinner, guitar playing session, computer time, then bed. The next day is the same, but with the football just a bit further down the field than the day prior.
I have amended my projected date to sit for the regulation section (1 of 4) of the CPA exam to July 20th. I am still waiting for the molasses pace of the Florida Board of Accountancy to catch up with me regarding scheduling this thing. Hopefully, when I get the official GO, that date will be available. My hope is to sit for the FAR section (financial accounting) the first week in October.
I am flying a decent amount. More is always better, but I am not longing to fly on a daily basis, so appear to be satisfied with the frequency. Both of my active students are doing well and I look forward to flying with them every week and continuing down this road with them. I take as much away in the form of satisfaction as they do in terms of knowledge and new skill.
I am currently working on the Lute Suite in E minor on the guitar. I seem to be drawn more to the classical repertoire than most anything else. I will likely proceed down this road as my primary genre. I’ll be posting that Lute Suite in a few weeks once its fully under my fingers, so stay tuned!
I am always thinking ahead to what my next step is going to be post CPA. The next seven months are all accounted for with CPA prep. However, beyond that, I am not sure where the road will lead. As much as I would love to find happiness as an accountant (perhaps I can), I am just not sure if I can shelf this professional pilot thing. Flying is who I am. It is what I do. It is such a part of me that I am unsure if I can relegate it to a mere “hobby”. Flying comes easy for me. It always has. Accounting does seem to come fairly easy as well, but it doesn’t have the draw to me. Apples and oranges. I guess in large degree, it depends on the state of things at the beginning of 2010. I doubt the airlines will be hiring. I might throw some resumes out there (perhaps the CPA credential will make my resume stand out from the crowd), but will likely not see material hiring until 2012.
Its going to be tough not to go back. Sometimes the heart must be listened to, regardless of the rationale. Of course kids could change the whole equation too. Flying isn’t the only thing important to me.
Either way, its back to the books. My current game is “CPA or bust”!
I ferried a Cessna 172 up to Cape Cod, Mass from Florida last weekend for a client of mine. We lucked into some nice weather, by and large. My wife, Joanna, came along and we had a great time doing it.
The first leg!
The clouds were slowly building.
We lucked into a nice beach front room at Myrtle Beach for our first night. There was a wedding happening and some people had apparently canceled. So, we got their wedding group rate. At least that is what they told us – but the price was right either way.
North Carolina Coast
Just making sure the tail was still there.
Virginia
Over Chesapeake Bay
Near NYC. You can see central park in the back ground. There was a large TFR over NYC when we got there and so we couldn’t fly directly over LaGuardia like last time. But, we did our best to get good pictures of it.
Looking good on the home stretch!
Finally arrived in Hyannis on Cape Cod. After many hours of flying, we were ready to stay on the ground for a little while.
Here is another tune I’ve been working on. This is one of the most beautiful pieces ever written in my opinion. It’s beauty is most appreciated when played on the cello, as intended. This is not a guitar piece, but it sounds good none the less.
Here is how the piece should sound:
Here is my attempt at it:
Today marks the beginning of my official preparation for the CPA exam. I ordered and received my review materials from Gleim. Being a pilot, I just couldn’t go any other way. Gleim is so familiar!
From this vantage point (day #1), the road looks so damn long. One step at a time will keep it confrontable.
I spent some time planning and setting up guideposts to mark my progress. My hope is to take the 4 parts of the exam in this order on these dates:
Regulation: 7/6
Auditing: 8/10
FAR: 10/12
BEC: 11/23
All of these dates are Mondays. I figure I’ll be maximally rested from the weekend and will have had some uninterrupted review time leading into the exams.
This gives me 27 weeks of prep time. I’ve already done 13 study units in Gleim over the course of the last semester, so I am left with 67 remaining study units to tackle cold turkey. A quick number crunch shows me needing to average about 1 study unit every 2 days – assuming a 5 day week. That’s a tall order, but it can likely be done without too much of a problem. If I start running behind schedule, I’ll just realign the dates a bit, but that is only a last resort.
Assuming, this schedule and assuming I pass on the first go around, I’ll be done with EVERYTHING by mid Dec. That will give me about 2-3 weeks to rediscover the meaning of life, then I’ll figure out my next game for 2010.
Will I go work as a CPA or go back to professional aviation? Hmmmmmm…… 
Its a tough choice. I believe I know the answer, but I’ll hold my cards close in for now.
I learned to fly during 1998 and 1999 using a C172. I soloed in it, did all my training in it, and took my check ride in it. For the other ratings, I flew other airplanes. This airplane was personally owned by my flight instructor at the time.
Fast forward about 3.5 years, some goon crashes the airplane when landing between a valley of trees at a small airport (windshear caused the accident). No serious injuries, which is the good news, but the airplane was toast. Shortly after the accident, the aircraft was deregistered, freeing up the tail number.
I recently got it in my crawl to see if the tail number was free and it appeared to be. So, I dropped the nominal fee to reserve the tail number for an aircraft that I will own in the future and I just received confirmation that the tail number is now reserved in my name. Obviously, if an airplane I own has a good paint job, I am not going to mess it up by trying to affix this number. But, I figure if I ever repaint an aircraft that I own, it’d be a perfect time to utilize this tail number that sort of represents where it all started for me.
Kind of cool, eh?