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    Saturday, December 2, 2017

    Accounting [CAN] How I passed CFE

    Accounting [CAN] How I passed CFE


    [CAN] How I passed CFE

    Posted: 02 Dec 2017 05:30 PM PST

    Depending on which accounting practice I choose, do I need to make a provision for legal costs from people falling under trains at platforms?

    Posted: 02 Dec 2017 06:55 AM PST

    What I'm saying here is, do I need to mind the GAAP?

    submitted by /u/Abookcooker
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    Dinner with accounts be like...

    Posted: 02 Dec 2017 02:13 PM PST

    For Kpmg employees: what are the rules when you get sent out on an engagement far away in another office?

    Posted: 02 Dec 2017 02:07 PM PST

    How often do you get to fly back home and what are the rules with the per diem and laundry? I'm going to be in a different office for 4 months

    submitted by /u/accountingfriend1234
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    [CAN] Deloitte Staff Accountant Interview advice

    Posted: 02 Dec 2017 08:24 PM PST

    Hello,

    I have second interview with Deloitte for 2nd year staff accountant (audit) position. I am currently working for another public accounting firm. I know they will ask me some technical questions. Please advice me on what types of specific questions do they really ask?

    Thanks in advance!

    submitted by /u/Keshav8991
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    [CAN] Tax Elective Exam Prep?

    Posted: 02 Dec 2017 08:08 PM PST

    So the tax elective exam is coming up in a few weeks, and I am trying to determine what to prioritize when studying.

    From what I am told, the largest topics will be rollovers, windups, RDTOH stuff, and Corporate tax calculations.

    Does anyone else have anything else that I should know COLD before studying other areas?

    submitted by /u/newgradneedsjob
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    Accountants..How Much of What You Learned in School do You Actually Use/Apply in Your Current Positions?

    Posted: 02 Dec 2017 04:18 PM PST

    I'm just worried I won't be able to retain everything I learn in college

    submitted by /u/Mossed81
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    If I want to take a shot at the Elijah Watt Sells award, how important is study material?

    Posted: 02 Dec 2017 02:15 PM PST

    I am drawn to Roger because I'm primarily studying at night and it keeps me awake, but 90% of of winners used Becker. How much would I be shooting myself in my foot choosing something like Roger? Lastly, I realize my odds of succeeding are terrible, but I simply want to give it a shot.

    submitted by /u/arc309
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    Possible to pass REG without finishing book and no review?

    Posted: 02 Dec 2017 04:41 PM PST

    Test the 7th only finishing unit 5 tonight/tomorrow - studying full time - a lot of unexpected things have came up and this NTS expires this window - I feel fucked and unmotivated with remaining 5 days

    submitted by /u/Aslan27
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    Who here felt uncertain during college but is now a CPA/intern?

    Posted: 02 Dec 2017 03:39 PM PST

    Was there a point where you're like "fuck, I don't get this but I do". Or maybe "fuck Idek what I'm doing but I can pass this". The thing is I'm good for some topics and chapters, but there are some things within a chapter I can't grasp completely while I can understand some other concepts. I know I should be completely understanding everything but I'm still working on my not so great time management and will be working harder to study and fully understand my intermediate 1 and financial acc textbooks during my freetime next semester and summer. Should I be worried? Is there anyone who felt iffy about accounting during their college career but was able to be successful despite feeling a little lost at some point?

    submitted by /u/shelfs
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    What are some examples of operational risks that internal auditors could address?

    Posted: 02 Dec 2017 05:36 PM PST

    All the examples I found seemed rather irrelevant to internal auditors like weather, sales being seasonal, etc.

    Plus I'm also having trouble understanding the differentiation between compliance and operations. Like I originally was going to do safety, but my classmate said that is a compliance with OSHA risk, not an operations risk.

    submitted by /u/accounting247
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    Who do you guys invite to your firm's holiday parties?

    Posted: 02 Dec 2017 10:10 AM PST

    Besides a spouse or gf/bf, is it usually a date you invite? Can I just invite one of my guy friends? Not really talking to any girls right now. Am a dude.

    submitted by /u/PM-Nudes-Girls
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    US CPA in Canada

    Posted: 02 Dec 2017 08:34 PM PST

    I'm curious if anyone has completed their U.S. Cpa while their undergrad has been in Canada but decided to have their experience verified by a Canadian CA to be licensed and continued to work in Canada. I'm not planning to do audit or tax. I spoke to my CFO uncle and he told me a director under him has his US cpa and works in Canada. Any experiences in this matter?

    submitted by /u/deadliftsquatbench
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    So I was reading a summary of the tax bill

    Posted: 02 Dec 2017 08:26 PM PST

    I am surprised they are planning on axing the entertainment expense. I have not seen much talk of this.

    submitted by /u/Rimeheart
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    Senate passes tax bill

    Posted: 01 Dec 2017 11:05 PM PST

    Cost Accounting Question

    Posted: 02 Dec 2017 07:27 PM PST

    16) Assume a manufacturing company that has started production in the current year. Which of the following would result in the highest profit being reported if the company has 1,000 units of ending inventory? A) throughput costing B) variable costing C) absorption costing D) standard costing Answer: C

    I'm confused on why the answer is C. I think because under absorption, the least amount of costs are expensed on the income statement? But I'm not understanding why the ending inventory part matters. Thanks.

    submitted by /u/grassdancejetta
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    Hey guys, is there a limit to how many online courses you can take for the CPA? As in I️ could do 8 LSU courses to save money? Thanks!

    Posted: 02 Dec 2017 01:05 PM PST

    Qualified Redemption Question Need Help

    Posted: 02 Dec 2017 06:31 PM PST

    Is the answer False because it should be 50%?

    Question : True/False : As a result of a redemption, a shareholder's interest (direct and indirect) in the corporation decreased from 70% to 52%. The REDEMPTION QUALIFIES FOR SALE OR EXCHANGE TREATMENT.

    submitted by /u/cpabound24
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    Will the new tax law apply to 2017 taxes?

    Posted: 02 Dec 2017 02:40 PM PST

    Assuming it passes, would this new law cover our 2017 tax returns? or does it only apply to 2018 returns onwards?

    submitted by /u/notpostingtoday
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    CPA E+P and distributions Question Regulation

    Posted: 02 Dec 2017 06:19 PM PST

    Need some help with steps on this, trying to save money on review and that comes with no solutions sometimes :( I appreciate those who help me so far and gave me great results when I get that passing grade :)

    Kim Corporation began the current year with accumulated E+P of $1,000 and two equal shareholders D and C. At the beginning of the current year, D and C each owned 100 shares of Kim Corp and each had a basis of $50 per share. The following transactions occurred during the current year (these were only transactions) : 1)On April 5, Kim distributed $2,000 cash to C and $2,000 cash to D 2) On July 1, C sold 50 Kim shares to S for $4,000 cash 3) On October 15, Kim distributed : a) capital asset with a fair market value of $3,000 and adjusted basis to Kim of $2,600, but subject to liability of $2,000, to C (and C assumed liability) , b) $2,000 cash to D and $1,000 cash to S <--- not sure where this guy came from but ok c) Kim received $2,000 of revenue

    QUESTIONS : 1) what income , gain or loss does C recognize during current year from all transactions ? 2) what basis does C take in capital asset? ^ I thought answer would be 2,600 but it was wrong.

    submitted by /u/cpabound24
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    [CAN] How are the recent CFE graduates calling themselves CPA, CA?

    Posted: 02 Dec 2017 06:15 PM PST

    Thought the CA was done back in 2015. Please don't tell me they somehow registered back then and now get to tack on an additional two letters?

    submitted by /u/banjoyes
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