All Blog Posts (326)

Wow, has it been a month since my last post already?!  Time sure has flown... I better start my 2012 Christmas list soon! ;)

So as the title indicates, I expect to break the 100-hour studying mark for FAR tonight.  My FAR exam is officially scheduled for Monday, Feb 27th at 9:00AM (wish me luck!).  I have mostly stuck to the studying plan outlined in previous posts, with some very minor variations.  I began my studies on Saturday, January 7th, so it has been exactly 1 month since my…

The National Association of Colleges and Employers recently released the findings of their latest Job Outlook survey, which contained good news for current accounting students as well as recent accounting graduates. According to the survey, accounting majors who graduated in 2011 earned an average starting salary of $50,500, up 3.7 percent from the…

I find myself procrastinating or feeling unsure if I really want to take the Exam.  I can easily afford the fees, and have the time to study (not working).  But I feel like after I pay them, I might change my mind and not want to take it at all.  I would hate to lose the money (by not taking it or having a halfhearted attempt and failing) even though it's nothing for me.  So I guess I have cold feet.  Any thoughts?  Should I just schedule it and see what happens? -…

State Board Report - January 2012

The Uniform CPA Examination has been approved by the Department of Veterans Affairs as a certification test that veterans in any state can take and have the expense eligible for reimbursement of up to $2,000. In addition, military spouses of active duty service members are covered under the Department of Defense’s Military Career Advancement Account (MyCAA) program for up to $4,000 in financial…

FROM NASBA:"The timetable below is for the first half of 2012 to help candidates plan their testing schedule. Scores for the Uniform CPA Exam will be released by NASBA to state boards of accountancy based upon the target score release dates listed in the table below. The timetable applies to candidates who have tested in both domestic and international testing locations.

 …

I have an 18 months old son and going to take FAR first.I am confused as to which review course to buy

When you say you want to become a Certified Public Accountant it seems that everyone thinks that it is something you simply do, like passing the Drivers License Exam. In a way, I think that you begin to feel that way yourself. It was not until I began studying for the exam in these past two weeks  that I realized that this thing is beast. A couple weeks in and I am starting to get the rhythm of it all. I am not exactly there, but I feel like I am so close. Recently, I said to myself, "Hey,…

Well, 5 days from now I will be taking FAR for the first time under CBT.  I have been studying since September/October.  I don't know why, but I feel like information is just not being retained.  I think it is just nerves.  Anyone else feel this way?

Yesterday I received exciting news. The Illinois Board of Examiners received my first transcript. The feeling was one of exhiliration and encouragement. It made me think about a time I heard Oprah saying she puts all her goals down on what she called a "Dream Board". This feeling of elation has me contemplating doing just so. My constantly looking at this email and recreating the feeling over and over encourages me to study more and more with absolute focus.

Think about the…

I happen to be reading a book called "The 50th Law" by Robert Greene & 50 Cent (yes the rapper). It talks about taking situations in your life and looking at them as opportunities. I have not worked since 2008 when it became increasingly harder. I already spoke about how I was diagnosed with Kidney Disease earlier back in 2002 and recently received a transplant. Well, with all that behind me, I decided now is the perfect time to study for the CPA Exam. Low and behold, after having been…

Does anyone have any good pointers for passing the Audit portion?  There is so much information and I was wondering if anyone had any advise on what the key subjects or chapters that I should know really well.  Thanks for the help!  Good luck everyone!!

As I start 2012 a new student of Yaeger, I wonder what it would have been like the two times I have taken the BEC section and failed if Yaeger was there to lead the way. I tried the first go around with Flash cards I got free when I was in school and spent a lot less time studying than I should have. The second time I thought I would spend more time and use Wiley but my wife and I had year old twins and two other children that took most of my time plus the full time job. I did worse the…

Graduation Day was May 2005... And I haven't touched accounting on a daily basis since... Getting back into accounting has been a slow process.  I've been in the accounting department for a medium sized non-profit since October and things are slowly (and I mean slowly) coming back to me.  Right now the only thing that makes sense is debits and credits - primarily the basics. 

So my goal right now is to pass my first section (yet to be decided) at the beginning of the second window. …

Today I have been working out a system that will ensure that I not only just learn the material but know the core meaning behind it. I have been going back in time thinking of how I learn best. I mentioned before that I have a little ADD going on in here; so, I determined that I should find the least amount of distractions for my mind.

Solution: STUDY AT YOUR LOCAL LIBRARY!!!!

No Thrills!!!!No Frills!!!!

I mean they don't even have Apple and…

 Hello my name is Jammy and I’m a Master of Accounting student at Georgia State University. I actually did my Bachelors degree in Finance but decided to go into Accounting because the field is so much more invigorating and rewarding.

 My 2012 CPA Exam goals are to take FAR at the end of the 1st quarter, AUD at the beginning of the second quarter, REG at the beginning of May and BEC at the end of May. So far a topic that is giving me a tad but of trouble is debt restructuring but I’m…

I was trying to understand Nonmonetary Exchanges that is part of the Module 10: Fixed Assets from the Wiley 2011 Textbook. 

I came up with the below rules that, as far as I can tell, should cover most cases.  Items 1 and 11 below are special cases that may not necessarily comply with the below rules.  In addition to the special cases, items 9&10 are not directly covered by the below rules with respect to how the Asset Received is recorded.

Rule 1: FV…