...someone to categorize all of these uncategorized posts :D
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Jeff - another71.com on "Now hiring..."
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Kay on "How Raise and Bonus are determined in other companies?"
I am in internal audit team in a public company where I joined in 2011. In 2012, I got 0% raise because the economy condition wasn't great, and only 2.5% bonus because it was my 4th month when the bonus was determined for employees. But in 2013, I got 1.1% raise, and 6.6% bonus (these numbers are minimum in raise, and bonus)
I couldn't understand such a low compensation after I had received extremely positive feedbacks from seniors, managers, senior manager (who is my people manager) - I exceeded expectation, and took care of more responsibilities from upper level (senior roles). However, what my boss told me is that even though I met and exceeded my goals as an auditor, I didn't contribute further for internal audit department. What else was I supposed to do to contribute more to the internal audit department as a staff auditor? I didn't get it. The only way I thought of, and he indicated was to do more of administrative work for management and senior managements. Basically, unless I get directly exposed to senior management by doing more than audit work as usual, then there is no way I get even average amount of raise or bonus.
My compensation numbers will be determined and released end of this month. I did some of admin work in 2013, hope this pays me off. Also, I have been doing senior role since beginning of last year. Boss told me that they don't have open senior position in my current team, so I am transitioning to another team where they urgently need strong senior (and my people manager recommended me to that team). It sounds very promising for promotion, so I decided to make a move to the other team. But who knows.. there might be tons of reasons that discourage me to get promoted to senior level. I liked my people manager, managers, and seniors. thats why I wanted to stay long in this company. But if I don't get what I am expecting, then I may need to consider other opportunities.
How raise and bonus are determined in other companies?
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linkman311 on "HELP - Inseparable Change in Accounting Principle from a Change in Estimate?"
I'm having trouble grasping what an inseparable Change in Accounting Principle is. In the Becker lecture, he just grazed over it and didn't explain what it is. I know that a change in estimate is prospective, but how can I tell when a change in accounting principle is inseparable from a change in estimate. Here's a question over it that I missed:
"At December 31, Year 2, Off-Line Co. changed its method of accounting for demo costs from writing off the costs over two years to expensing the costs immediately. Off-Line made the change in recognition of an increasing number of demos placed with customers that did not result in sales. Off-Line had deferred demo costs of $500,000 at December 31, Year 1, $300,000 of which were to be written off in Year 2 and the remainder in Year 3. Off-Line's income tax rate is 30%. In its Year 3 financial statements, what amount should Off-Line report as cumulative effect of change in accounting principle?
a. $200,000
b. $500,000
c. $350,000
d. $0
Explanation
Choice "d" is correct. A change in method of accounting for demo costs is a change in accounting principle inseparable from a change in estimate. When a change in accounting principle is considered inseparable from a change in estimate, the change is handled as a change in estimate - prospectively. No cumulative effect adjustment is made.
Choices "a", "c", and "b" are incorrect since no cumulative effect adjustment is made. "
Can someone explain it so I can recognize when it is inseparable?
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rigouventura on "Stretching myself too thin"
So I took FAR on November 5th and failed it. I just finished taking AUD and I start my studying for the FAR retake tonight. Since I work full time is aiming to take the test by the end of Feb too much?
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rachenyc on "Experience Form 4B"
I started my career at PwC, I did three years of audit and left in 2004. My old partner at PwC says that HR is responsible for filling out the 4B Certification of Employer but PwC HR says its a CPA's responsibility (which I agree with). Does anyone know how to deal with this? I'm shocked nobody can give me the right answer at the firm.
For the record, I also have 9 years of advisory/forensic accounting experience after audit but thought it would just be easier to provide my audit experience.
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jlondon on "To cancel or take the Fail?"
I tried searching the posts for canceling vs. not canceling.. but couldn't find anything about taking a fail or just canceling it altogether..
So As you can see my schedule below in the signature, and especially after today at work (year end close)... I kind of know that I will be failing FAR.. The amount of days I have is just Not enough. So I was thinking about focusing on Audit.
I mean, my FAR is 2 weeks after Audit... I already know that's definitely not enough time...and My NTS is expiring with other sections all scheduled for already.. Yeah.. .lesson learned... should of budget my time accordingly... didn't realize working can drain so much out of me sometimes...
Do I cancel it and forfeit the money? Or should I just not show up (or show up; and of course most likely fail it)..
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ALLISON on "Installment Sales"
I have hard time understanding installment sales problems. Can anyone help me solve this problem?
A sold land with an adjusted basis of $20, 000 and paid a selling expense of $1,000. The buyer assumed an existing mortgage of $15,000 and agreed to pay A $10, 000 over the next 5 years starting from this year. A's installment sale income for the current year is?
The answer is $800. Do you know why?
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Jeff - another71.com on "Official "I Passed BEC" Thread"
Celebratory posts are awesome...it would be great if they were in one place for the benefit of others.
I also think people would enjoy reading the strategies of others and how they passed.
No questions here please (I will delete them to keep it clean) ... just success stories and advice/strategery from those who passed.
"I Passed" Threads:
I Passed the CPA Exam
I Passed FAR
I Passed AUD
I Passed REG
I Passed BEC
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Slweal on "Roger CPA ordered in December - will it be 2013 or 2014 materials?"
Hi all,
Just started Roger CPA and now I'm worried. I just got an email saying, hey we've done a reorganization of all the materials for 2014 and new roger books... I just paid for my class a week ago and my materials didn't even ship until TODAY! but now I am worried I don't have the newest materials from roger and I know it shouldn't matter, but it bothers me because I spent so much money on it. Does anyone know if perhaps I will be getting the updated/new materials in the mail?
Starting AUDIT... this is just the beginning
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Just started Roger CPA and now I'm worried. I just got an email saying, hey we've done a reorganization of all the materials for 2014 and new roger books... I just paid for my class a week ago and my materials didn't even ship until TODAY! but now I am worried I don't have the newest materials from roger and I know it shouldn't matter, but it bothers me because I spent so much money on it. Does anyone know if perhaps I will be getting the updated/new materials in the mail?
Starting AUDIT... this is just the beginning
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Jeff - another71.com on "FAR Study Group January February 2014"
FAR Resources:
Free FAR Notes & Audio - http://www.another71.com/cpa-exam-study-plan
FAR 10 Point Combo: http://www.another71.com/products-page/ten-point-combo
FAR Score Release: http://www.another71.com/cpa-exam-scores-results-release
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swatig on "CA PETH"
Hi, has anyone given the California ethics exam (PETH) recently? Can someone please share some pointers on how to tackle this beast?
Thanks!
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ktyx on "Deloitte 2nd round interview - motivation help"
Hello Everyone,
I am transfer student from south America and I am a junior in a state university and big 4 recruits a lot from there. This year I was able to obtain 3 interviews with 4 out of the big4. However, I was quickly turned down by 2 already and Deloitte is my last hope. I feel sometimes I have some language barrier and perhaps I am not as good looking and thus this does not help. Some of my qualifications : GPA 3.54/Major 3.63; eboard member at Beta alpha psi, and had an internship at barclays capital. I have tried so hard to study every questions on their website and had in mind qualitative questions for them but still no luck. I feel that my GPA is not high enough for them to bring me in. As I mentioned before Deloitte is my last hope and I would really appreciate if some of you would give me some insights on how to land on a internship. Thank you in advance.
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LongTimeComing on "Exit ops for forensic accounting?"
For any forensic accountants or CPAs involved in investigations/disputes, what are your exit opportunities?
I am currently in a forensic accounting role and wondering what my possible exit opportunities are. Hopefully there are a few current/former forensic accountants on here!
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Ajaz0810 on "Robert-half?"
Has anyone ever used them? Are the jobs legit? Just curious.
Thanks
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ktyx on "Do big4 auditors have to commute a lot?"
Hello,
I am a senior at a university in NJ and I was hopping to get some insights about being an auditor at any of the big4 and the commuting. I understand that it depends on the audit assignment; however, I was wondering if assignment sites tend to be far from the company office. Any example would be good! Thank you!!
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tough_kitty on "Leaving the state for private....Yes or No? Decisions, decisions...."
Hi All,
I guess it is my turn to ask you guys for some career advice.......
I've been with the state for about 2.5 years now doing auditing and I am happy with my salary. It's definitely too high to consider public accounting at this point because I cannot afford taking a pay cut (I have mortgage payments to worry about!)....but at the same time the prospect of doing pretty much the same job for the next 30 years or so kind of scares me...I know I will get bored sooner or later (probably sooner), so I've been considering applying for jobs in private industry.
I know it will probably take some time before I get a job offer, if I get it at all. I do have credentials but I don't have much experience, and I have zero experience in public accounting, but maybe if I am lucky I can get a job offer where MBA/CPA is desired/required...and then perhaps I could have a career as opposed to just a job??
I realize there are many pros and cons for both; hence my dilemma!
My other option: stay with the state and find a second job (tax preparation and/or teaching - I have some experience in both).
Any comments for or against are greatly appreciated. Your feedback is very valuable to me! :)
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pakupakuman on "Question concerning date to take test"
Hello -
First post here, so allow me to start by wishing you all good luck on your exams.
I've searched in various places, to no avail, for opinions or advice concerning when to take an exam upon the completion of a review. For example, I'll be starting my Becker FAR onsite review this Saturday, expected to last about five Saturdays, morning and afternoon sessions. They suggest I take the exam around the last days of February.
Has anybody opted to take an exam on the first (or so) possible day of the next quarter to have that third month for beefing up (as opposed to using it possibly for studying for the next exam part)?
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littlenumberrobot on "CA - License Application Sent 10/23!"
Hi all,
Thought I would start up this thread if anyone else is sending in their CA license application around this time. I will keep it updated and hope to help anyone else going through the same process. I really hope I get my license by 12/31/13 so I can truly say I am class of 2013! Sent my paperwork in via certified mail - return receipt. Now the waiting game begins.....
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chinchilled on "Does the NINJA framework WORK?"
As you can see in my signature I have Roger's review course. Right now I am still trudging through just watching the lectures and have about halfway to go.
I feel guilty that I am ONLY watching the videos since we're being constantly told to watch the lecture then work the problems, re-work the problems, etc. etc. etc.I have not started anything else as of yet, so I just really need some positive reassurance that the NINJA order of things truly has worked for some others.
Another problem I'm having is with note taking. I do my best to write down little "fact nuggets" as we go but with Roger I almost feel like sometimes its best to just sit and listen to him and try to absorb rather than write down notes because once you write down one topic he is already 4 topics ahead. So while watching the videos I am following along in the book and reading things as he is talking about them/reading them.
After I am done with the videos I plan on re-writing the NINJA notes while going through the Roger CPA book for each section and writing down little things that maybe the NINJA notes do not include. Does this strategy sound useful at all or should I re-think my entire game plan?
Another problem I have is the constant feeling that I am "running out of time" even though my first exam (FAR) is not until the last week of February.
In short: I'M FREAKING OUT.
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Jeff - another71.com on "A71 Alumni Lounge"
Keep in touch with your A71 friends long after the CPA Exam is over.
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