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Manny's Blog – January 2012 Archive (4)

Understanding NonMonetary Exchanges

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…


Added by Manny on January 4, 2012 at 3:30pm — 1 Comment

Why So Serious?

Remember that question from the Joker from the movie The Dark Knight? The Joker always asked Why so serious? While the seriousness that he caused was rather gruesome, the CPA can cause the same sentiment but for vastly different reasons. Why, indeed, are you so serious?


Dont get me wrong, getting the license is of great iimportance but as CPA candidates and working professionals, we must have a sense of humor and laugh alil and not be so serious. At least…


Added by Manny on January 4, 2012 at 11:00am — No Comments

When Your Employer Doesn’t Fully Support You

What exactly does one do? That’s the situation a friend of mine finds herself in. Actually, it’s somewhat more unique. her boss supports her goal of attaining her license but upper management isn’t willing to pay for any of the associated costs.  So no reimbursement for expenses incurred to take the CPA exam. In addition, encouragement by the employer in getting one’s license is silent. This is of importance because her employer is rather vocal when they seek support in employer functions.…


Added by Manny on January 3, 2012 at 7:00pm — No Comments

Want to Change CPA Requirements But No Magic Wand?

I think most of us would want to make administering the CPA and CPE somewhat easier. Here are some changes I think we would make….


Changes to the Actual Exam

  1. Construct the exam in the manner that made it feasible to provide a raw score right after completing the exam.
  2. Provide the official scores at least two weeks sooner.
  3. Allow candidates to only view the answers we get wrong and an explanation of…

Added by Manny on January 2, 2012 at 3:00pm — No Comments

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