Anyone else shitting bricks about 2013 UFE results?

[busdepot]

My productivity is down at work because I can't stop thinking about results day and what will happen if I fail. We got the results distribution email last week and I feel like I'm going to go insane thinking about it. Any other 2013 writers on here?

[Myrrinda]

I wrote in 2011. Trust me, even after you get the results, you'll still be having nightmares. And if you fail, it's not the end of the world. We had 8 people fail at my firm the year I wrote. They all passed the next year and went on with their lives. I know it seems impossible to believe it now, but failing is not the end of the world. It just costs more. But what the hell, you get another summer off work. Trust me, life goes on no matter what the result is. You'll be fine, and there's nothing you can do to change it now, and you've still got another month to wait. Might as well not risk losing your job because of an exam.

[ercchry]

i hear they revoke your elbow patches if you fail...

[lasimmon]

I am unsure what UFE is, so I googled it. Uterine Fibroid Embolization came up. I believe that is incorrect.

I have nothing to add. Carry on.

[busdepot]

Originally posted by Myrrinda
I wrote in 2011. Trust me, even after you get the results, you'll still be having nightmares. And if you fail, it's not the end of the world. We had 8 people fail at my firm the year I wrote. They all passed the next year and went on with their lives. I know it seems impossible to believe it now, but failing is not the end of the world. It just costs more. But what the hell, you get another summer off work. Trust me, life goes on no matter what the result is. You'll be fine, and there's nothing you can do to change it now, and you've still got another month to wait. Might as well not risk losing your job because of an exam.

Not really worried about losing my job. I've talked to my partner about it and he was telling me when he went through, his mornings consisted of pushing paper around until 11, then getting a few beers, then try to get at least one WP done a day. Nerves are just starting to kick in about it. The other writer at my firm is losing her mind about it too. Another buddy of mine who wrote sent me an email about flights to Toronto already for the Densmore repeat writers course. Thanks for sharing, Myrrinda.

Eric, you need patches to just walk in the door. That black LS you've been rolling would look great with some quilted bolster patches.

[ercchry]

patches on a peacoat?! :rofl:

that sir, is commitment

[Dalking]

wtf are you guys talking about

[taemo]

quick google resulted "2013 UNIFORM EVALUATION" and has something to do with Chartered Accountants.

[busdepot]

Originally posted by Dalking
wtf are you guys talking about

It's the last exam you need to pass to get you Chartered Accountant designation. It's the hardest exam I've ever sat for and results take months to get back to you.

http://en.wikipedia.org/wiki/Uniform_Evaluation

[Manhattan]

What do arm patches have to do with the UFE? And what's pass rate on a typical year?

[ercchry]

Originally posted by Manhattan
What do arm patches have to do with the UFE?

absolutely everything :rofl:

not really sure why this started... but accountant=elbow patches and this has been an on going joke for a few years now only made funnier due to the fact that he actually DOES rock the elbow patches

[busdepot]

Patches have zero to do with UFE. Eric likes to try to rustle jimmies about my preference for jackets to have patches.

Pass rates aren't published anymore, but historically it's been in the low 70's. It is relatively good odds, but the exams aren't a traditional knowledge dump, which makes it more challenging. Truly some of the smartest people I know have failed it in the past so you really just don't know how well you performed on it.

I know that there was a lot of repeat writers in 2013 just from getting to know people going through the program.

[Myrrinda]

The thing with the UFE is that it's not marked on a percentage basis. It's a pass/fail. They wait until the exams are all marked, throw the results in a database, and decide on a cut-off mark. Marks are never revealed. To actually go into the complexities of the marking system is pointless because it's long-winded and unimportant for anyone who isn't writing. The worst part is that you write in September, and don't get your mark until end of Nov/early Dec. It's hell.

I can tell you right now that I was 100% convinced I failed. 100%. The night before I went to the pre-party and got as drunk as I possibly could to take away the pain of finding out the next morning that I failed. I got up, checked, and I passed. I was in shock. I checked again, convinced I was looking at the wrong ID number....nope, I passed. I went into working thinking there had been a mistake. Work told me I passed. I thought they were wrong. I went through my entire day hung over and believing there was a terrible mistake. Even seeing my name in the paper on Saturday didn't really help it sink it.

Basically, you are feeling exactly like everyone else. I don't know anyone who thought they passed. To tell someone not to worry about it because they probably passed just makes it worse. That's why I'm telling you that right now it doesn't matter. Even if you fail it doesn't matter. You just write it again.

I know someone who wrote 5 times. For anyone that doesn't know how the program works, you have to do 5 modules (referred to as CASB), then a 6th module, which is basically UFE prep, and then a mock UFE before you can write the actual UFE. You are only allowed to do each module and the UFE 3 times each before they send you back to the start. This woman failed the UFE 3 times, did CASB all over again, and finally passed on her 5th time. The time she passed was the time she wrote with me. So every time I panicked, I thought, shit, she's got it way worse, I've still got 2 tries left. I think I was more excited to see her pass than to see that I passed.

Good luck though! It's impossible to know how you did, so I wish you the best for the next 24 days :)

[brokeass]

I wrote and thankfully passed first try in 2012. The last week before results I mays well have stayed home, I was so counterproductive. Just remember everyone who makes it that far is usually pretty intelligent there is no shame in failing and you get another UFE summer (which isn't such a bad thing).

Best of luck - when you find out passed Nov 29th enjoy it!! You'll probably never feel that much relief ever again!

[triplep]

Originally posted by Myrrinda

I know someone who wrote 5 times. For anyone that doesn't know how the program works, you have to do 5 modules (referred to as CASB), then a 6th module, which is basically UFE prep, and then a mock UFE before you can write the actual UFE. You are only allowed to do each module and the UFE 3 times each before they send you back to the start. This woman failed the UFE 3 times, did CASB all over again, and finally passed on her 5th time. The time she passed was the time she wrote with me. So every time I panicked, I thought, shit, she's got it way worse, I've still got 2 tries left. I think I was more excited to see her pass than to see that I passed.


What how did they write 5 times? I thought 3 strikes and your out. No way you will ever become a CA? Did the rules change or something, because that doesn't add up for me?

But to be honest, if you think about it, 5% of people will have a mental break down writing the exam, I would say another 5 % don't even finish all the exam so right there 10% of the people failed. IF you finished addressing all the issues, then you are already ahead of 10% of the people. That leaves say another 15-20% that you just need to beat.

At least you will get your 3 chances, sucks for us who started a bit late and only get 2 or 1 chance at writing the UFE. Oh well, from what I have seen from the module exams so far, expectations aren't that high.

[Manhattan]

Will there still be UFE exams here after the CPA merger?

[403ep3]

Originally posted by Manhattan
Will there still be UFE exams here after the CPA merger?

nope

[Chandler_Racing]

Originally posted by busdepot


It's the last exam you need to pass to get you Chartered Accountant designation. It's the hardest exam I've ever sat for and results take months to get back to you.

http://en.wikipedia.org/wiki/Uniform_Evaluation

Don't get me wrong, the exam is not easy but I think everyone hypes out it to be worse than it is.

I thought my Calc final was way harder than the UFE.

[Manhattan]

How do you get a internationally recognized acct designation after everything becomes CPA?

[statick]

Originally posted by Manhattan
Will there still be UFE exams here after the CPA merger?

There will be a UFE offered in September 2014 and "make-up" offered in June 2015. There will be none thereafter.

The CPA training program, successor to CASB, has started and the first CPA Common Final Evaluation will be offered in September 2015. This exam will be offered each September thereafter.



Originally posted by Manhattan
How do you get a internationally recognized acct designation after everything becomes CPA?

They say that the CPA will be the new internationally recognized designation. Time will tell; some form of adjustment period is likely.

[busdepot]

Originally posted by 403ep3


nope

There won't be a UFE, but there will be an equivalent exam. Looking at the courses and the proposed program, it doesn't exactly look like a walk in the park.



Originally posted by Manhattan
How do you get a internationally recognized acct designation after everything becomes CPA?

You get to keep your existing designation as well. The acronym "CPA" is no coincidence either. I'm sure they chose this to line up with the US accounting designation. I'm not really sure which CA's were in favour of this merger. I don't know a single one who voted yes.

[BrknFngrs]

Originally posted by busdepot
You get to keep your existing designation as well. The acronym "CPA" is no coincidence either. I'm sure they chose this to line up with the US accounting designation. I'm not really sure which CA's were in favour of this merger. I don't know a single one who voted yes.

This has been an annoyance of mine since the start of merger talks.

Many U.S. CPAs I worked with in the past told me that the U.S. program is watered down to a level that many companies are looking for an MBA, on top of a candidates CPA, for upper management roles. This wasn't an issue I heard too much about in Canada with the CA but I'm now concerned that stigma may cross the border even though the programs differ significantly.

[busdepot]

Originally posted by BrknFngrs


This has been an annoyance of mine since the start of merger talks.

Many U.S. CPAs I worked with in the past told me that the U.S. program is watered down to a level that many companies are looking for an MBA, on top of a candidates CPA, for upper management roles. This wasn't an issue I heard too much about in Canada with the CA but I'm now concerned that stigma may cross the border even though the programs differ significantly.

I've heard the same story. I know that if I end up in the US, I'm probably going to have to get an MBA to be competitive. To sit for the CPA exam in the US, some states need as little as 150 hours experience vs the Canadian 30 months. That's why I hope I get through the UFE this year so I can have the CA designation and not get caught with only the CPA one for the stigma alone. I'm sure the new CPA program will be more than adequate in Canada, but the recognition abroad I think will actually be detrimental.

[Myrrinda]

Originally posted by triplep


What how did they write 5 times? I thought 3 strikes and your out. No way you will ever become a CA? Did the rules change or something, because that doesn't add up for me?


You only get three chances, and then you have to start the program all over again. She failed three times, did CASB again, and then passed on her fifth attempt. Personally, I would never even consider doing CASB again. Plus she had a young child. I really had to admire her tenacity.

[busdepot]

Originally posted by Myrrinda


You only get three chances, and then you have to start the program all over again. She failed three times, did CASB again, and then passed on her fifth attempt. Personally, I would never even consider doing CASB again. Plus she had a young child. I really had to admire her tenacity.

No kidding, that's definitely some strong resolve to stick it out again. At least the assignments probably were similar? I would never do CASB again if I didn't get through at some point and I don't have any children. The cost to do it all again both in time and money would be a big enough detractor. All in costs, she could have done an MBA for that price.

[Manhattan]

^

I would think a CA is far more valuable than a MBA, especially if you already have an accounting BComm degree.

[busdepot]

^ In Canada, yes. But in the US, the recognition value of a Canadian CA isn't great. And to compare it to a US CPA might be a detractor. The US CPA is very diluted in its value to firms. I was talking with my girlfriend's BIL who is a PhD from Stanford in business about it and he was saying that without a top tier school on your resume, or some great connections, the US CPA is a dime-a-dozen.

A MBA from a top tier school is the US or a Canadian Uni is worth more than a US CPA IMO. I agree that the Canadian CA is valued the same as an MBA here, but the dynamics in the US for upper level finance/mgmt jobs is a little bit different by the sounds of it.

[roopi]

So did you pass?

[ercchry]

FB says yes... either that or he is pregnant :rofl:

[flipstah]

Congrats to all the bitches and mitches who passed! Continue to flood my feed. :rofl:

[busdepot]

Passed that motherfucker!!!

[The_Penguin]

Congrats to all who passed. Holy shit there's a lot of accountants on here. Bad enough I'm surrounded by them all day at the office... :)

[rMBA13]

Can I be rich working as an accountant with only CGA designation (no CA)?

[busdepot]

You can be rich with no degree and no designation.

What kind of accounting do you want to do? Do you have your CGA already?

If you want to be in public practice at an established firm, you may have a few barriers getting to the partnership level. But outside of actual public practice, lots of guys with CGA's do just fine. And with the whole CPA merger, things will be changing anyways.

[clem24]

Man I swear I was the only one not worked up about results... I mean the morning of, my wife wasn't even aware results were being released LOL and I had to drag her pregnant ass upstairs to show her on the computer.

I think it also helps that I was in a tiny firm (of 5) and I was the only one writing. I think being in a big firm surrounded by other crazy/anxious people helps feed the hysteria. Fuck I was so sick of CASB I basically didn't even study between the end of module 6 and the UFE.. Ended up taking a trip down to the US to buy a car and then spent the last 3 days/nights before the exam watching all the Initial D stages hahaha.

Really it's been sort of stated here - by that stage in the game, when you're ready to write the UFE, either you know your stuff, or you don't, and what it REALLY boils down to is time management. I wouldn't say it's a 'hard' exam, it's just grueling (3 days, 5 hours each).

And BTW, you don't NEED a CA to get anywhere if you're comparing CGA vs. CMA vs. CA; it's what you do with it that matters. In our office, CEO is a CA, and 2 of the VPs are CMAs. I've met awesome CGAs and CMAs, and crappy CAs.

And congrats on the pass.