Wendy01

hey - i am a CPA and did L1 in Dec 2009. I started my studies in late August and passed with flying colors.

If you have an accounting background, L1 is heavily stacked in your favor - its really "accounting 101" type concepts on there.

L2 accounting is tougher (consolidation/investments, pension accounting, f/x accounting) but you will still have a big leg up.

If you have a strong accounting background, and can give it plenty of time to study, then L1 in December is very doable.

For L1, i relied heavily on schweser notes, Q-bank, and secret sauce for what its worth. Since you are starting a little later than others, i'd advise staying away from the CFAI curriculum, will take too long to get through it.