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March 2010 Blog Posts (18)

CPA Exam Review Lesson of the Month

The CPA Review Lesson

of the Month for March features Roger

Philipp, CPA
discussing "Interim Financial Reporting" from his FAR

course. You've heard of an annual financial report or statement. But,

did you know that most companies that issue annual financial statements

also issue interim reports on a quarterly basis as well? In…

Added by Roger Philipp on March 30, 2010 at 9:39am — No Comments

CPA Exam Success File: "This was the most challenging task I have EVER undertaken!!"


"This was the most challenging task I have EVER undertaken...and hope to never be faced with something this challenging again!!"

How I did it: It took sheer determination and for once my stubbornness was a virtue--I REFUSED to give up!!

Lessons & tips: Know what you're up against and be humble. My biggest mistake was… Continue

Added by CPA Exam Club on March 29, 2010 at 11:11am — No Comments

CPA Exam Study Strategy

Without a thorough and realistic study strategy for passing the CPA Exam,

you're setting yourself up for frustration and failure. Roger always

says, "The CPA exam is a test of discipline and in order to succeed,

you're going to have to overcome procrastination, poor planning, and the

temptation of outside… Continue

Added by Roger Philipp on March 25, 2010 at 11:30am — 1 Comment

CPA Exam is Changing

The CPA Exam

will undergo some major changes starting January 1st, 2011. The

American Institute of Certified Public Accountants (AICPA) is working

hard to ensure that the exam is consistent with the knowledge and skills

required of entry level CPAs in the industry.


One of the biggest questions we receive is whether or not the exam will include IFRS. The

answer is yes. The AICPA recently conducted a survey of… Continue

Added by Roger Philipp on March 22, 2010 at 3:21pm — 1 Comment

What Will the CPA Exam Look Like in 2024?

The AICPA, NASBA, and Prometric renewed their contract to administer and supervise the computerized CPA exam through 2024. What does that really mean for you? (Please tell me you'll be DONE with the exam by then)

We did it on Going Concern:
What will the CPA exam of 2024 look like? Obviously no one knows but looking at the evolution of…

Added by Adrienne Gonzalez on March 17, 2010 at 5:30pm — No Comments

AICPA Releases BEC Scores Today - Kicks off Wave 2 Score Release Season for Jan/Feb 2010 Window

At 5:39pm EST...

cpaexamtweets RT @NASBA: Today, 6527 BEC scores were released by AICPA for the Jan/Feb 2010 testing window…


Added by CPA Exam Club on March 17, 2010 at 4:17pm — No Comments

CPA Exam Changes for 2011

As many of you may know, January 1st, 2011 will bring new changes to the

CPA Exam. Some of these changes include:

  • The larger simulations in the AUD, FAR, and REG sections will now be smaller task based simulations (TBS)
  • All written communication will be contained in the BEC section
  • New Content will be introduced into the various sections including the introduction of International Financial Reporting Standards (IFRS) to FAR
For more details,… Continue

Added by Roger Philipp on March 16, 2010 at 3:22pm — No Comments

Are New Graduates Getting Squeezed by the 150 Hour CPA Requirements?



"I listened to some accounting professors on a private listserv discuss the following question:

“What is the impact of the 150 hour requirement on accounting education, career choices for graduates and the public accounting firm business model?”

The Big 4 firms are delaying new…


Added by CPA Exam Club on March 15, 2010 at 11:00am — No Comments

Hiring Outlook Good for Accounting Professionals



"At a time of high unemployment and low hopes, jobs in the accounting and auditing fields are expected to grow. Consider the latest reports. Accountants and auditors should enjoy much faster than average employment growth from 2008 through 2018, according to the Occupational Outlook Handbook 2010-2011. The predicted growth… Continue

Added by CPA Exam Club on March 15, 2010 at 8:00am — No Comments

Revenue Recognition (contd.)

In my last post I addressed the conceptual framework on revenue recognition. Only when the revenue is both earned and recognizable (i.e. when the earning process is finished or nearly finished and delivery/exchange has taken place), it gets recognized in the financial statements.....few alternative revenue recognition methods are being discussed underneath concisely…

Added by Aprajita Kumar on March 10, 2010 at 2:39pm — No Comments


Added by snooki on March 6, 2010 at 10:41am — No Comments

CPA Exam Questions?

If you have any (we mean "any"), get in touch with us and we'll answer them every Friday on Going Concern. (you can see previous questions here)

You can post them here or email if you prefer to remain anonymous. thanks!

Added by Adrienne Gonzalez on March 4, 2010 at 9:34pm — No Comments

Apr/May 2010 Window - Exam Resources by Section

Apr/May 2010 Window Resources:

= FAR - Financial Accounting & Reporting

= AUD - Auditing & Attestation

= REG - Regulation

=… Continue

Added by CPA Exam Club on March 3, 2010 at 12:25am — No Comments

10 Things They Don’t Tell You When You Sign Up For The CPA Exam (via @CarrieCheap)

Here’s a great list from Carrie on the Cheap - one of our CPAnet Forum members. And if you think the list is funny, read the entire post to truly identify with her as well as fellow test-takers. Don’t forget to add your Top 10 List as well!

1. CPA Butt

2. Start Counting… Continue

Added by CPA Exam Club on March 2, 2010 at 1:30pm — No Comments

Apr/May 2010 CPA Exam Window at the CPAnet Discussion Forum

Apr/May 2010 window discussions are all set up...good luck with your studies!

FAR - Financial Accounting & Reporting

= Apr/May 2010 Window Discussion

AUD - Auditing & Attestation

=… Continue

Added by CPA Exam Club on March 2, 2010 at 2:00am — No Comments

Revenue Recognition

Revenue is one of the most important indicators of a successful business. Since revenue reporting directly impacts an entity's results of operations and financial position, it is essential to have a thorough knowledge of the underlying concepts and practices. However, revenue accounting literature has emanated in various diverse pronouncements that at times it is often challenging to relate and identify the appropriate pronouncement.....… Continue

Added by Aprajita Kumar on March 1, 2010 at 1:52pm — No Comments

What I Learned on my CPA Exam Journey

What I Learned on my CPA Exam Journey

By Donna Edge

March 2010

Background: I graduated with my Accounting Degree in 1995. I took the paper exam twice. Used a live review and did not study much outside of it=failed both times. Said I would NEVER go through that again! Worked in public accounting for 6 years then became a stay at home Mom for 10 years-had two kids along with raising my step son. Started my own Bookkeeping business…


Added by CPA Exam Club on March 1, 2010 at 6:30am — No Comments

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