The 22-year-old Honan scored 98 percent on three sections of the exam—business law, financial reporting and auditing—and 96 percent on the fourth section—accounting and reporting.
“I prepared for about four months for the exam,” Honan says. “Studying for it became my fulltime job, but when I took the exam I was very comfortable with the material.”
Honan still needs one year of experience to earn his C.P.A. certification.
“Our students typically perform very well on the exam, but Mike's accomplishment is the highest that I am familiar with in my 28 years at Xavier,” says Ed VanDerbeck, chairman of the University’s department of accountancy.
Honan earned a degree in accounting last May and is expected to earn his Master of Business Administration with a concentration in finance in August. In September he joins the accounting firm of Deloitte & Touche as a staff accountant in the company’s auditing department.