By Vimbai Mukumba CPA
As Capstone 2 draws near and thoughts of long CFE study hours start to linger, one of the key things to think about is who your study companion will be for the months ahead. Understandably, some candidates prefer to study alone. But if you are like me, finding one or two solid study partners can be a key component to successfully navigating the CFE. Unlike other exams or modules you may have taken in the past, studying for the CFE is a marathon—not a sprint. There will be many days where you will need a pacemaker to keep you on track to complete your tasks; similarly, there will be days where you will need to keep your partner on pace.
Choosing a study buddy
When selecting a study partner, consider how often you would like to meet each week, whether in person or online. Also consider a time and location that works best for you both, taking into account any commitments and scheduled days off. Then, prepare a rough outline of what you plan to accomplish during your sessions. Because everyone’s approach to studying is different, it is important to figure these aspects out first in order to be paired as best as possible with someone who matches your study style. If your schedules don’t constantly align, think of creative ways to work around commitments, such as writing a case separately and meeting the following day to mark the case together.
The pros of having a study buddy
Outside of accountability, finding a study partner is essential to the feedback, debrief, and review process of your studies. Great study partners will add to each other’s learning progression by marking each other’s assignments and providing constructive and honest feedback.
Marking another candidate’s assignment helps you think critically about your own responses from a marker’s perspective. This process helps you consider whether you have communicated your own thoughts as effectively and as efficiently as possible. Moreover, reading through another candidate’s response to a question versus solely reviewing the ideal answer is very useful to see another way to approach a case. Reviewing another candidate’s response will give you a more realistic perspective of your study progression.
CPA Alberta’s Case Writing and Marking Parties offer opportunities for candidates to respond to additional practice cases and mark others’ responses. It also provides candidates with an opportunity to find a study buddy before the CFE! For more information about this free event, click here.
What makes a good study buddy?
A good study partner provides fair and constructive feedback that their partner can actively work on. Being exceedingly kind in your marking will not be helpful to your study partner; conversely, being overly harsh and not offering suggestions for improvement will be just as detrimental to your partner’s progress.
Being a great study partner also involves being able to discuss various accounting concepts during study periods, helping your partner fill in knowledge gaps, and providing encouragement and the occasional (maybe virtual) hug on a bad day.
The CFE study period is a long stretch. Make sure you find a great buddy to keep you on track.
The views expressed in this post are those of the guest writer, Vimbai Mukumba CPA. Please refer to cpawsb.ca for the latest guidelines from the CPA Western School of Business.
