“Hard work is the heartbeat of success”
In my formative years, I was uncertain about the career path I would eventually pursue as an adult. The idea of excelling in the Licensure Examinations for Certified Public Accountants (LECPA) and successfully passing the US Certified Management Accountant (CMA) exams was beyond my wildest imagination. Like many others, I grappled with self-doubt and often felt that I was not anything special. I lacked extraordinary talents and didn’t stand out in a crowd. However, what I did have were big dreams and grit. I wanted to prove that I had what it takes to be great. My favorite NBA player, Dwyane Wade, once said, “My belief is stronger than your doubt.” As time has passed, this mantra has become my guiding principle in my journey through life. I tell this story to people all the time, but when I was in the Integrated Classes at the University of San Jose-Recoletos (USJ-R), I would always be the first to enter the library and be the last one to exit. I was aware I wasn’t inherently exceptional, so I felt the need to put in extra effort to remain competitive. To this day, I still remember what it felt like to fail my first three quizzes in one of my major subjects during my first year in college, but that did not stop me from progressing forward.
Consequently, I established my study habits, honed my self-learning skills, and cultivated discipline early on. With dedication, I managed to consistently achieve high grades, ultimately earning Latin honors upon graduation. This experience taught me that, with the right mindset, being ordinary can be an asset, not a limitation. I was not overly surprised when I topped the boards; in my heart, I knew I could make it happen because I worked three times as hard as anyone.
I embarked on my CMA journey during my fourth year of college, concurrently with my on-the-job training (OJT) sessions. That time, we could opt for certification exams to fulfill OJT work hours. Initially, I had reservations because it seemed quite expensive, especially considering I was just a student with no income. However, during an event organized by Insights Financial Review Services in partnership with USJ-R, one of their representatives shared their experience of being a CMA before becoming a CPA, sparking my interest and motivation to pursue the same path.
Fortunately, Insights provided an installment plan and a discounted fee, which I promptly took advantage of. I can confidently say that, as a professional now, I have no regrets about my decision because once we attain professional status, the fees imposed by IMA for the CMA exams will increase, resulting in higher expenses. Beyond the satisfaction of personal achievement, the CMA certification has opened doors to new avenues in my career, particularly advantageous when seeking opportunities abroad. Employers recognize the significant value that a CMA brings not only as a financial professional but also as a strategic partner contributing to organizational success. My approach to studying for the CMA exams differed slightly from my LECPA preparation. In the former, I focused more on solving multiple-choice questions and practicing essay responses. Given that I had recently graduated, I didn’t bother rereading concepts.
After graduating last December 2022, I took the CMA exam in the January-February 2023 window. Admittedly, because of personal challenges affecting my mental state at that time, I wasn’t able to give it my very best. Despite this, thanks to Insights’ resources and continuous reminders. I managed to overcome the challenges and achieve commendable scores. When it came to the CPA exams, on the other hand, I felt more mentally prepared.
My study approach that time involved a significant focus on reading concepts and textbooks, given that I took a 3-4 months break from studying. I wouldn’t recommend this to everyone, as many may tend to forget a lot during such a hiatus, and cramming in a short review period could compromise one’s health. Due to time constraints, I dedicated the last month of my review to solving multiple-choice questions (MCQs), but overall, my preparation was concept-based.
My daily review schedule consisted of waking up at 8-9 AM and going to bed at 11 PM, with breaks in between. It was extremely challenging at first, especially with the temptation to indulge in my hobby of playing computer games. However, as time went by, my body adapted to the routine, and I successfully developed self-discipline. Trying to get through the first few humps is the hardest part but once you make it past there, you’ll be exactly at the place where you want yourself to be at. An additional advantage of having pursued the CMA before the CPA was that I didn’t need to extensively review Management Services (MS) during my CPA preparations, as I had already covered it in my CMA exams and I was able to allocate more time to the subjects that posed greater challenges for me. It’s not just about the satisfaction of becoming a CMA before a CPA, it genuinely aided in my preparations. To those considering the CMA journey and aspiring CPAs, my advice is to adopt a concept-based approach during your undergraduate studies and review sessions.
Incorporate multiple-choice questions (MCQs) and essays, but aim to gain a deep understanding of the topics and learn them by heart. This approach will not only benefit you in your exams but also the post-exam phase as you take the next step towards becoming a professional. Additionally, I encourage you to embrace the challenge, relish the learning process, and know that the destination is not just a certification; it’s a testament to your capabilities and a key to unlocking new horizons in your career. Let me leave you with one of my favorite quotes by Theodor Roosevelt, “Believe you can and you’re halfway there.”
About the Author:
Hebban Tawantawan currently serves as an Assurance Associate at Isla Lipana & Co., the Philippine member firm of PriceWaterhouseCoopers (PwC). He graduated Magna Cum Laude, obtaining his Bachelor of Science in Accountancy from the University of San Jose-Recoletos. In October 2023, Hebban Tawantawan undertook the Licensure Examinations for Certified Public Accountants in the Philippines, emerging as the top scorer among 8,734 test takers nationwide. Prior to attaining the CPA designation, he successfully passed the Certified Management Accountant examinations administered by the Institute of Management Accountants in February 2023.
