(Posted December 2024)
Each year, we get asked by experienced writers about the need to retake the CPA Canada Capstone 2 Module. Our advice often surprises them because we do not think that retaking Capstone 2 is the best course of action for most experienced writers. Here are some common follow-up questions that explain the reason for this advice.
Why would I not want the additional marking that Capstone 2 provides?
The key advantage of retaking the Capstone 2 module is that it does provide additional marking feedback. We agree that getting an independent assessment of your writing is important and can be done by using a study partner since we do not recommend that you prepare on your own. To learn more about why a study partner makes sense, read this blog.
However, as an experienced writer, by following a more balanced study plan and writing, marking, and debriefing in your own study group, we believe you will increase your chances of CPA Common Final Examination (CFE) success.
What if I can’t find a study partner?
Our Densmore forum will help you search for a study partner that meets your needs, including Day 2 role, time off work, and method of study. For example, some groups like to study remotely and exchange papers via email and some prefer to meet in-person. Either is fine, but you will need a group that is functional and works for you. That means you need to be following the same study plan.
How will I cover all the Capstone 2 cases if I am not in Capstone 2?
The Capstone 2 module incorporates prior year CFE cases that you have access to at no charge with the CFE Reports that can be downloaded from the CPA Canada website. As part of our CFE Prep course, Densmore provides our own detailed marker grids for you to use for marking purposes. The expectations in our marker grids are set based on our analysis of PARs (Performance Analysis Reviews) of unsuccessful writers and are set as close to the true expectations at the CFE marking centre as we can get.
How will I know what schedule to follow without the Capstone 2 schedule?
As you know, Capstone 2 has a set structure that you must follow with case upload dates that fall on weekdays. However, this schedule can be onerous, especially if you have less time off from work during the module. Densmore’s CFE Prep courses provide study plans tailored to your situation (if you are writing all three days or just Days 2 and 3, and your time off from work), that will help you better manage your study time and not be dependent on case submission deadlines for Capstone 2.
What if I am writing a different Day 1 under a different Capstone 1 case than last time?
Our recommendation would be to stick with the Capstone 1 case that you originally wrote for your second attempt. That may mean you have to wait to rewrite until it is next offered, but this gives you the ability to use the Capstone 2 practice cases (Module Workshop, Week 3, and Week 6) and the CFE Day 1 Version 1 case you wrote as additional practice.
If you choose to write a different Capstone 1 case, you may need to purchase the Capstone 2 Day 1 practice cases via the Capstone 2 not-for-credit module so you have enough cases to practice with, which would add additional cost to you. You would also be responsible for familiarizing yourself with the new Capstone 1 case, which can be somewhat onerous given the length of the Capstone 1 cases.
In summary
Our experienced writers’ study plans will give you a more manageable path to the CFE if you do not also have the Capstone 2 requirements to follow. The choice is ultimately yours, but our recommendation would be to not take Capstone 2 Module a second time.