RSS feed for Kaplan CPA Exam Review's Public Bloghttp://www.schweser.com/cpa/blog/index.phphttp://www.schweser.com/cpa/blog/index.php?item_id=1725&new_level=cpa_aud&cpa_blog=cpaThe AICPA has announced target score release dates for the first two quarters of 2012. Please note that these are the dates that NASBA expects to release scores to the state regulatory boards. Also note that BEC scores will likely take a bit longer because of the grading of the written communication assignments. Read more at the AICPA Insights ...en-usFri, 03 Feb 2012 14:05:48 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1720&new_level=cpa_aud&cpa_blog=cpa...en-usThu, 02 Feb 2012 08:42:18 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1690&new_level=cpa_aud&cpa_blog=cpaThe Committee of Sponsoring Organizations' Internal Control Integrated Framework is tested on the BEC exam. COSO has just completed an update to this framework. According to Kayla Briggs in "Internal Control - Integrated Framework - 20 Years Later" published...en-usThu, 19 Jan 2012 10:02:21 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1675&new_level=cpa_aud&cpa_blog=cpa...en-usTue, 17 Jan 2012 10:36:41 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1668&new_level=cpa_aud&cpa_blog=cpaDo: Plan out your strategy for earning the CPA designation. It is truly never too early to start preparing for the exam. Make a written plan with tentative benchmarks to stay on track. Don't: Put it off for too long. Procrastination may occur from time to time, but don't let it get in the way of reaching your full potential. Keep it under control and know your own habits to effectively manage...en-usFri, 13 Jan 2012 08:31:19 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1662&new_level=cpa_aud&cpa_blog=cpaIt's not too late to add "Pass the CPA Exam" to your list of New Year's Resolutions. It will definitely be worth it!! 2012 is going to be a great...en-usTue, 10 Jan 2012 12:35:39 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1640&new_level=cpa_aud&cpa_blog=cpaRead this blog! ...en-usWed, 30 Nov 2011 12:25:06 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1636&new_level=cpa_aud&cpa_blog=cpaThere are just a few testing days left in 2011. Good luck to those who will be sitting for a section yet this month. The 2012 exam will be just like the 2011 exam. The CPA exam changed significantly on January 1, 2011. The changes implemented were a result of a practice analysis survey conducted by the AICPA to determine the appropriate knowledge and skills for an entry-level accounting position. This survey is conducted approximately every five years. That means we can expect the...en-usMon, 28 Nov 2011 08:52:08 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1615&new_level=cpa_aud&cpa_blog=cpaMany of us find that we rarely carry cash anymore, let alone a checkbook. Paying for groceries, clothes, gas, and other goods is commonly done with some form of plastic, whether it is a debit card or credit card. However, this too may become a thing of the past. In a recent article, Favorite New Technology, Rick Richardson, CPA and CEO of Richardson Media & Technologies, describes near-field communications (NFC) which is currently used widely in Japan. With NFC technology, users...en-usWed, 02 Nov 2011 12:19:51 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1611&new_level=cpa_aud&cpa_blog=cpaRead this AICPA article and you'll feel a bit more enlightened about research questions! ...en-usTue, 01 Nov 2011 11:50:54 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1604&new_level=cpa_aud&cpa_blog=cpaAs you study AUD material, be alert for differences and similarities of PCAOB (Public Company Accounting Oversight Board) audits and audit standards (AS), applicable for publicly held entity (issuer) audits, and ASB (AICPA's Auditing Standards Board) audits and its Statements on Auditing Standards (SAS), applicable for privately held entity (nonissuer) audits. Exam questions might use terms such as "issuer", "nonissuer", "publicly held", "privately...en-usFri, 28 Oct 2011 09:55:39 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1600&new_level=cpa_aud&cpa_blog=cpa...en-usWed, 26 Oct 2011 08:41:31 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1596&new_level=cpa_aud&cpa_blog=cpaOn Saturday, I ran the Mankato Marathon at a personal best time. This was my third marathon. My goal going into the marathon was to finish strong (i.e., good posture, chin up, shoulders down). I exceeded my goal. How? Structured, disciplined training. Structured, disciplined diet. A marathon is considered an extreme athletic event which requires training. There were many days when I didn't want to train . . . for reasons ranging from apathy to sickness. If I had let those...en-usTue, 25 Oct 2011 09:14:35 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1592&new_level=cpa_aud&cpa_blog=cpaI found this article quite interesting and wanted to share it with you since many of you are looking for career-advancing employment. ...en-usTue, 18 Oct 2011 10:20:18 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1580&new_level=cpa_aud&cpa_blog=cpaCurrent AUD candidates should pay particular attention to the number, wording content, and order of the paragraphs that are included in both the standard compilation report and the standard review report under SSARS 19. The standard compilation report now has three paragraphs, in this order, - an "introductory paragraph", a "management's responsibility paragraph", and an "accountant's responsibility paragraph". Modifications to a standard compilation report (e.g., missing...en-usMon, 03 Oct 2011 09:53:35 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1577&new_level=cpa_aud&cpa_blog=cpaThe last testing window of 2011 is coming quickly. Passing the CPA Exam requires the kind of determination that can only be fueled by a dream. Many of you are laboring hard to make that dream become your reality. Kaplan CPA Review is here to help your dreams come true. We will support you every step of the...en-usTue, 27 Sep 2011 09:01:05 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1574&new_level=cpa_aud&cpa_blog=cpaYou are presently under great stress preparing for your exam, juggling work time, personal time, and now study time into your daily activities. By now, you have come to realize that your personal time needs to be restricted to allow for your studies. You might then begin wondering: What will happen if I don't pass an exam on my first or even second attempt? Our response to this question is this: Kaplan CPA Review will support you in every way possible to assist...en-usTue, 20 Sep 2011 12:02:50 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1571&new_level=cpa_aud&cpa_blog=cpaIf you tested in July or August, your scores have been, or will be soon, released. Share your news here. And, be sure that you share advice for and encouragement to those who are yet to test. Remember, you signed that you would not disclose specifics. You can, however, share your news and your...en-usMon, 19 Sep 2011 09:00:09 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1564&new_level=cpa_aud&cpa_blog=cpaDo: Develop a goal setting process that works for you. Read books from experts, ask your professors, and give multiple strategies a fair chance before developing you own hybrid system. Don't: Give up. Goal setting is a life-long task that can make a huge impact on your level of success. Don't expect to find a perfect strategy right away-be patient and fine-tune your methods until they work for...en-usFri, 09 Sep 2011 09:56:59 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1556&new_level=cpa_aud&cpa_blog=cpaEnjoy this promising article! ...en-usThu, 01 Sep 2011 14:08:11 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1549&new_level=cpa_aud&cpa_blog=cpa Barry Melancon, CEO and president of the American Institute of Certified Public Accountants (AICPA) not only credits coaching as a necessary skill to being a successful leader but also the ability manage change, accept one's own imperfection, and think in progression. Please visit http://smartblogs.com/leadership/2011/08/23/spotlight-on-association-leadership-american-institute-of-certified-public-accountants-barry-melancon/ to read the full interview with AICPA...en-usWed, 24 Aug 2011 13:44:15 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1543&new_level=cpa_aud&cpa_blog=cpaIt has recently been reported that a few individuals have experienced a small amount of lag time in the launching of their sims while taking their CPA Exam. Chances are this won't happen to you. So, I write this blog not to warn you about the possible lag times, but to open dialog about the possible exam experiences you may have. For example, a person in the testing center might have allergies and sneeze a lot. Or, perhaps you're used to working on a laptop and Prometric's keyboard...en-usMon, 22 Aug 2011 09:52:09 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1537&new_level=cpa_aud&cpa_blog=cpaI just returned from the 2011 Beta Alpha Psi Annual Conference in Denver, Colorado. It was a wonderful conference filled with excellent educational sessions and top-notch competitions. A highlight of the conference was the community service day where more than 1,200 BAP volunteers helped more than 1,000 homeless individuals receive services (e.g., legal, medical, social) they desperately need. It was a life changing experience for each of us. Let's continue that work in our...en-usMon, 15 Aug 2011 10:05:17 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1490&new_level=cpa_aud&cpa_blog=cpaIf you haven't played around with Kaplan's CPA Launchpad, you should. It'll provide you with a nice break, once in awhile, from your studies! ...en-usThu, 07 Jul 2011 17:15:17 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1447&new_level=cpa_aud&cpa_blog=cpaWhen we face big challenges, we often wonder where to start . . . where to begin. Sometimes this question is so overwhelming that we don't ever take that first step and begin the process. Start today and look at the state requirements to sit for the CPA in your licensing jurisdiction. You can find this information under the "State Requirements" at http://www.kaplancpareview.com/ or at ...en-usTue, 10 May 2011 14:30:01 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1427&new_level=cpa_aud&cpa_blog=cpaEach section of the CPA Exam has two types of questions. FAR, AUD, and REG have multiple-choice questions which compose 60 % of your score and task-based simulations which compose 40% of your score. In BEC, 85% of your score is from multiple-choice questions and 15% from written communication tasks. Your responses on each question type are graded separately. Then, the score for each question type is weighted by the proportion of that question type (e.g. multiple-choice question score...en-usTue, 26 Apr 2011 10:08:49 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1420&new_level=cpa_aud&cpa_blog=cpaAn increasingly common question among CPA candidates is "What other advanced designations should I have?" There isn't enough room in this blog to fully describe all the possible advanced designations. In the current competitive environment, you should do everything you can to set yourself apart. This includes having strong work experience and meaningful education. Once...en-usWed, 20 Apr 2011 14:33:12 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1418&new_level=cpa_aud&cpa_blog=cpaI met with the AICPA last week for a day. They said that a surprising number of students are unaware of the list of prohibitive items allowed (rather, not allowed) in the Prometric Center. The AICPA's Candidate Bulletin lists prohibitive items as well as activities that are...en-usMon, 18 Apr 2011 14:41:34 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1406&new_level=cpa_aud&cpa_blog=cpaAfter you take the CPA Exam, the AICPA grades your work. If you pass, you will be notified of your score. If you did not pass, you will receive a Candidate Performance Report. This report describes your performance by content type and by item type. The "by content type" evaluation is the first table on the report and compares your performance to those who passed on the multiple-choice questions only. The words "weaker," "comparable," or "stronger" are used to describe your...en-usMon, 04 Apr 2011 11:12:22 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1402&new_level=cpa_aud&cpa_blog=cpaPreparing for the CPA Exam is the key to passing. The AICPA has this advice: 1. "Read the Candidate Bulletin 2. Review the Content Specification Outlines 3. Review the Policy on New Pronouncements 4. Review the Confidentiality and Break Policy Statement 5. Take the Tutorial...en-usThu, 31 Mar 2011 14:19:43 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1389&new_level=cpa_aud&cpa_blog=cpaThe CPA Exam is administered using fairly easy-to-use software. You will enter your answers using the keyboard and a mouse and you will have basic word processing and spreadsheet software functionality. You'll be able to copy and paste text in your BEC written communication writing. You will be able access the authoritative literature in AUD, REG, and FAR and will be provided with search functionality similar to what you use to search the internet. Don't forget to look for scrollbars which...en-usThu, 24 Mar 2011 09:07:03 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1382&new_level=cpa_aud&cpa_blog=cpaPreparing a time management plan prior to sitting for each section of the CPA Exam will give you confidence that you are prepared for that ticking clock. You will receive four testlets in each of the four exams (AUD, BEC, FAR, & REG). The first three testlets contain multiple-choice questions. The fourth testlet contains task-based simulations (TBSs) in AUD, REG, and FAR, and written communication tasks in BEC. You can work at your own pace within each testlet. However, once you...en-usWed, 16 Mar 2011 13:12:49 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1368&new_level=cpa_aud&cpa_blog=cpaYesterday, the AICPA announced the dates and locations for the first international administration of the CPA Exam. The CPA Exam will be administered in Japan, Bahrain, Kuwait, Lebanon and the United Arab Emirates in August of 2011 and then every third month after. To read more: ...en-usWed, 02 Mar 2011 08:33:06 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1365&new_level=cpa_aud&cpa_blog=cpaIt is the season for the Beta Alpha Psi regional conferences. I attended the Western Regional conference in Anaheim this last weekend and had the privilege of meeting fantastically talented college students from that area. Becoming involved in professional organizations is a great way to make your resume different from your peers. As important, professional organizations provide networking opportunities and professional growth opportunities that are otherwise not available from other...en-usTue, 01 Mar 2011 09:02:42 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1349&new_level=cpa_aud&cpa_blog=cpaI've been on the proverbial "soapbox" lately about the value standing up for what's right. Well, now it seems doing the right thing could have financial reward. Read this article on when the IRS is willing to pay big bucks to whistleblowers. ...en-usMon, 21 Feb 2011 08:25:14 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1339&new_level=cpa_aud&cpa_blog=cpaI question whether to use our valuable time discussing matters of the infamous Bernie Madoff. However, his latest claims expecting to share responsibility for his actions are worth noting. As accountants, we need to be very aware that our actions or, as importantly, inactions can have a great impact on others. We have a fiduciary responsibility to others who have placed their trust in us. If we see, hear, or sense that something isn't right, we should become "whistleblowers."...en-usWed, 16 Feb 2011 09:26:36 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1328&new_level=cpa_aud&cpa_blog=cpaGreen accounting, sustainability accounting, triple bottom line . . . the popularity of "doing the right thing" is growing but, perhaps, with less than altruistic motives. A recent survey by Schneider Electric found that corporate executives are finding the cost savings associated with increased efficiency to be the primary reason for making their organizations more "green." Read more about the survey results at ...en-usThu, 10 Feb 2011 08:52:02 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1326&new_level=cpa_aud&cpa_blog=cpaDo: Try to get the most out of your internships. Do your best to succeed at your assigned tasks-don't just do the minimum, either. Try to go above and beyond and you will attract the positive attention you seek. Don't: Complain about your tasks as an intern. Everyone starts here-why should you be any different? Take on these challenges, even when they seem boring or tedious, and you will soon find yourself saying, "I remember when I was in your shoes and...en-usWed, 09 Feb 2011 09:28:09 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1319&new_level=cpa_aud&cpa_blog=cpaMultiple choice questions make up 60 to 85 percent of your exam score for each section. BEC and REG will each have 72 multiple choice questions and AUD and FAR will each have 90 multiple choice questions. These will be presented to you in 3 testlets of either 24 or 30 multiple choice questions each depending on the section. The AICPA classifies the difficulty of each question as being "moderate" or "difficult." Your first testlet will contain moderate difficulty questions. If...en-usFri, 04 Feb 2011 08:13:17 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1315&new_level=cpa_aud&cpa_blog=cpaAccountants are the trusted financial advisors of their clients. More and more, clients are asking their accountant to provide personal financial planning services. This has opened many opportunities for accountants to expand their offerings. In fact, according to Accounting Today's 2010 "Top 100 Firms: Signs of Growth" article, firms responding to their survey indicated "estate, trust, gift tax planning," "wealthy individuals," "retirement," and "personal financial...en-usTue, 01 Feb 2011 11:26:53 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1305&new_level=cpa_aud&cpa_blog=cpaDo: Foster a positive mind-state about life. All things pass with time. Having a positive outlook, especially during the challenging times, will help you rise up and bring those around you along for the ride. Organizations are always on the lookout for leaders who inspire through positivity. Don't: Get caught up in the moment and overreact to a negative situation. Even though it sounds cliché, take a few deep breaths and remove yourself from the situation until you can address...en-usWed, 26 Jan 2011 15:11:34 -0400admin@schweser.comhttp://www.schweser.com/cpa/blog/index.php?item_id=1277&new_level=cpa_aud&cpa_blog=cpaI have very few "original thoughts" that seem to apply to so many things. But, when I finished my marathon in December, the phrase "discipline seldom disappoints me" came to mind and has stuck with me since. Trust me, there were a lot of other phrases that I should and will let go. But this one is a "keeper." As you start this New Year, contemplate how you can best use this time to accomplish your personal and professional goals. The discipline you apply to your routine is...en-usThu, 06 Jan 2011 12:45:11 -0400admin@schweser.com