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[Interview: KUBS CPA Prep Class] The Secret to Passing CPA Exam Is Indeed KU’s Information Network!
2016.09.20 Views 2783 경영대학
KUBS CPA Prep Class | Special Interview with Management Team at Junggincho (精進礎)
The Secret to Passing CPA Exam Is Indeed KU’s Information Network!
The Secret to Passing CPA Exam Is Indeed KU’s Information Network!
Korea University has produced highest number of successful CPA candidates on the 51st Certified Public Accountant (CPA) Examination. KU once again reaffirms its position as the best institute for nurturing certified public accountants for five consecutive years. met Professor Han Sang Yi who supervises Jungjincho, a CPA prep class, Manager Yeil Kim (Business Administration ’09, successful candidate on 50th CPA Exam), and Manager Hyunchul Baik (Business Administration ’11, successful candidate on 51st CPA Exam) to ask the secrets to their success.
(From left to right) Former Manager Yeil Kim at Jungjincho, Professor Han Sang Yi, Manager Hyunchul Baik
Q. Korea University has produced most number of successful candidates on the 51st CPA Exam. What is the secret behind this success?
Professor Han Sang Yi: The first reason is because our Accounting professors have successfully convinced students the importance of Accounting in society. Thanks to those professors, the number of candidates for the CPA exam has drastically risen compared to last year. I believe that the professors’ passionate guidance motivated the students to study Accounting. Furthermore, the managers of Jungjincho have focused on facilitating communication process.
Manager Yeil Kim: Once students got accepted into Jungjincho, they are placed into a group of ten. This is a system where students can devote themselves to their study and share information while forming close bonds with each other. This close relationship has sparked their positive participation and diligence. The students also rely on each other, ultimately improving the atmosphere of Jungjincho.
Q. How does Korea University Business School’s Jungjincho, a CPA prep class, run?
Professor Han Sang Yi: The first round of CPA exam is held at the end of February and the second round of the exam is at the end of June. Jungjincho recruits those preparing for the 2nd round of the exam in March annually, while operating a short-term entrance class from July to August. In September, Jungjincho recruits students who prepare for the 1st round of the exam. In order to be part of the Jungjincho community, each student must take an entrance exam. No vested rights are exercised like the national archery team of Korea. Only 69 members will be selected based on their grades.
Manager Yeil Kim: A month before the CPA exam, Jungjincho conducts a national practice exam. Although the exam is hosted by a private academy, if there are enough students, it is possible to take the exam at a university. Therefore, Jungjincho itself also recruits students to take the practice exam. After done grading the practice exams, the scores are immediately released to give the students final feedback before the actual exam.
Manager Hyunchul Baik: We check attendance at 9:00 AM and 10:0 PM every day to make sure that students are staying on schedule. If a student is absent 4 or more times per month or fail to receive a passing score on the practice exam, penalty points will be imposed. If the student receives two or more penalty points, one must leave Jungjincho. Hence, all students must be dedicated to their studies. Although the study atmosphere may be strict, Jungjincho is a place that allows students stay stronger. Also, the relationships formed in Jungjincho last a lifetime.
Q. What are the benefits given to the students in Jungjincho?
Professor Han Sang Yi: KUBS provides financial support to students so that they can concentrate on their studies. In addition to that, fees for online courses and practice tests are partially provided in order to relieve some of the financial burdens. These benefits are available for not only the students in Jungjincho, but also the students in Korea University who are preparing for the CPA Exam.
Manager Hyunchul Baik: The students in Jungjincho are assigned a carrel desk at a study room, allowing them to study in a pleasant environment than the library. Furthermore, all the necessary books are purchased and available for use at Jungjincho.
Manager Yeil Kim: The students can receive advice from those who have already experienced the CPA exam. The upperclassmen provide guidance or consultation that helps the students get through the difficulties in studying for the exam.
Q. You probably had the chance to observe the students closely. What was the biggest difficulty faced by the students?
Professor Han Sang Yi: Regular college students have a chance to enjoy their school life while figuring out what they want to do with their lives. In contrast, CPA students give up this opportunity and focus on studying for the CPA exam. Unlike other achievements which can be recorded and proved relatively easy, the CPA exam is a pass-fail basis. Therefore, the students are easy to get swayed and suffer from anxiety especially when they hear stories of others failing the CPA exam. Thus, they must stay motivated and focus on their goal in order to overcome such difficulties. It is important to stay self-aware of who you are and why you are pursuing this path. Then, find solid answers to these questions and keep challenge yourself. Fortunately, most students at Jungjincho successfully overcame such difficulties and showed strong performances. The students may feel anxious about their future, but I strongly believe working together and staying positive will produce fruitful results.
Q. Is there anything you want to say to students studying for the CPA exam, including those studying in Accounting?
Professor Han Sang Yi: Some people still think that Accounting is a counting technique learning with an abacus. Modern Accounting actually plays a critical role of identifying the value of finance, investment, and operation activities and is a science behind quantifying and proving value. Without quantifying value in business, it becomes impossible to set an objective and check the progress. Business guru, Peter Drucker, once said, “If you can’t measure it, you can’t manage it.”
People have the tendency to spread good news while hiding unfavorable news. Accounting provides an opportunity to reflect and counter this natural tendency of humans, which can ultimately save a company from bankruptcy or even the world. Regardless of your major, if you are interested in business and preparing to work for a company, I highly recommend you explore managerial accounting and its related methodologies, as well as developing an understanding of consolidated financial statements.
Professor Han Sang Yi: The first reason is because our Accounting professors have successfully convinced students the importance of Accounting in society. Thanks to those professors, the number of candidates for the CPA exam has drastically risen compared to last year. I believe that the professors’ passionate guidance motivated the students to study Accounting. Furthermore, the managers of Jungjincho have focused on facilitating communication process.
Manager Yeil Kim: Once students got accepted into Jungjincho, they are placed into a group of ten. This is a system where students can devote themselves to their study and share information while forming close bonds with each other. This close relationship has sparked their positive participation and diligence. The students also rely on each other, ultimately improving the atmosphere of Jungjincho.
Q. How does Korea University Business School’s Jungjincho, a CPA prep class, run?
Professor Han Sang Yi: The first round of CPA exam is held at the end of February and the second round of the exam is at the end of June. Jungjincho recruits those preparing for the 2nd round of the exam in March annually, while operating a short-term entrance class from July to August. In September, Jungjincho recruits students who prepare for the 1st round of the exam. In order to be part of the Jungjincho community, each student must take an entrance exam. No vested rights are exercised like the national archery team of Korea. Only 69 members will be selected based on their grades.
Manager Yeil Kim: A month before the CPA exam, Jungjincho conducts a national practice exam. Although the exam is hosted by a private academy, if there are enough students, it is possible to take the exam at a university. Therefore, Jungjincho itself also recruits students to take the practice exam. After done grading the practice exams, the scores are immediately released to give the students final feedback before the actual exam.
Manager Hyunchul Baik: We check attendance at 9:00 AM and 10:0 PM every day to make sure that students are staying on schedule. If a student is absent 4 or more times per month or fail to receive a passing score on the practice exam, penalty points will be imposed. If the student receives two or more penalty points, one must leave Jungjincho. Hence, all students must be dedicated to their studies. Although the study atmosphere may be strict, Jungjincho is a place that allows students stay stronger. Also, the relationships formed in Jungjincho last a lifetime.
Q. What are the benefits given to the students in Jungjincho?
Professor Han Sang Yi: KUBS provides financial support to students so that they can concentrate on their studies. In addition to that, fees for online courses and practice tests are partially provided in order to relieve some of the financial burdens. These benefits are available for not only the students in Jungjincho, but also the students in Korea University who are preparing for the CPA Exam.
Manager Hyunchul Baik: The students in Jungjincho are assigned a carrel desk at a study room, allowing them to study in a pleasant environment than the library. Furthermore, all the necessary books are purchased and available for use at Jungjincho.
Manager Yeil Kim: The students can receive advice from those who have already experienced the CPA exam. The upperclassmen provide guidance or consultation that helps the students get through the difficulties in studying for the exam.
Q. You probably had the chance to observe the students closely. What was the biggest difficulty faced by the students?
Professor Han Sang Yi: Regular college students have a chance to enjoy their school life while figuring out what they want to do with their lives. In contrast, CPA students give up this opportunity and focus on studying for the CPA exam. Unlike other achievements which can be recorded and proved relatively easy, the CPA exam is a pass-fail basis. Therefore, the students are easy to get swayed and suffer from anxiety especially when they hear stories of others failing the CPA exam. Thus, they must stay motivated and focus on their goal in order to overcome such difficulties. It is important to stay self-aware of who you are and why you are pursuing this path. Then, find solid answers to these questions and keep challenge yourself. Fortunately, most students at Jungjincho successfully overcame such difficulties and showed strong performances. The students may feel anxious about their future, but I strongly believe working together and staying positive will produce fruitful results.
Q. Is there anything you want to say to students studying for the CPA exam, including those studying in Accounting?
Professor Han Sang Yi: Some people still think that Accounting is a counting technique learning with an abacus. Modern Accounting actually plays a critical role of identifying the value of finance, investment, and operation activities and is a science behind quantifying and proving value. Without quantifying value in business, it becomes impossible to set an objective and check the progress. Business guru, Peter Drucker, once said, “If you can’t measure it, you can’t manage it.”
People have the tendency to spread good news while hiding unfavorable news. Accounting provides an opportunity to reflect and counter this natural tendency of humans, which can ultimately save a company from bankruptcy or even the world. Regardless of your major, if you are interested in business and preparing to work for a company, I highly recommend you explore managerial accounting and its related methodologies, as well as developing an understanding of consolidated financial statements.