CPA Exam SMART Goals

Do you want to be a CPA?

The biggest hurdle a lot of students and professionals have to becoming a CPA is passing the CPA Exam-but you can make it easier and attainable if you create a plan and stick to it. You are studying the concepts for the exam, but have you taken a step back to study your CPA Exam Plan?

Let's put that smart brain of yours to good use and do a quick review of what are SMART goals and how using the framework of SMART goals can help you meet your goals.

What is a SMART Goal?

You've probably heard of SMART goals by now through work or school, but here's a run down if this is your first time encountering this acronym. I'll use passing FAR as an example. Simply having "passing FAR" as your goal may not be enough detail for you to achieve your goal. You can analyze your goal through the lens of the SMART goal system and provide a framework for your overall plan to pass FAR.

Each letter in SMART stands for a specific item related to your goal that needs to be determined in order for you to set a goal that is possible to achieve.

• S - Specific - What do you want to do? What is your end-goal? If you can't be specific about what your goal is, then take a step back and re-evaluate.

  • Pass the FAR section of the CPA exam

• M - Measurable - How will you know when you've reached your end-goal? Is your goal quantifiable? If the specific goal stated above is not measurable, or if there is no known-end status, then go back to the last step and redefine the specific goal to be something that is measurable.

  • A passing score of 75 or better on the FAR section of the CPA exam.

• A - Achievable / Attainable - Is it in your power to accomplish it? Can you realistically achieve it? If you set a goal to be the president of your rotary club in the next year, but you don't meet the qualifications to hold the position of president, then you aren't able to accomplish that goal. Make sure what you are setting out to do is something that is available to you.

  • Passing the CPA exam is attainable after you have met the requirements to sit for the exam and have been provided a Notice to Schedule.

• R - Relevant - Does this goal make sense at this point in time? If you are making a goal to to pass the FAR exam, but you are in the middle of tax busy season and you can't dedicate the time needed to meet your deadline, then maybe FAR isn't the right section to work on right now. Perhaps studying for REG during tax busy season would make more sense for you because what you are reviewing is applicable to what you are doing with most of your day.

  • Passing FAR is relevant because I am not studying during busy season, and passing the CPA exam is the right step at this moment in my career.

• T - Timely - When exactly do you want to accomplish it? It may not be attainable or realistic to pass the FAR next week. It is also not timely to say you will pass the FAR exam next year as the deadline is so far in the future that you won't take it seriously.

  • I will pass the FAR section of the CPA exam in 3 months.

Take it a step further

Now that you have created a SMART goal, take it a step further. Break down your goal into 2 or 3 smaller chunks that have their own measurable points, such as (these may not fit your goals, but they are examples):

• I will complete a minimum of 100 multiple choice questions on a weekly basis.

• I will complete the recommended learning sections within my review course with a minimum 80% score by Month 2 of my plan.

• I will complete a mock exam with a minimum of 80% score at least 5 days prior to my scheduled exam date.

Comment with your SMART CPA goals below!