Major Changes Ahead

The American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA) have been working on a joint initiative to change the CPA licensure process. They sought feedback from various sources and considered many alternative ideas to update the licensure process. The current model under consideration focuses on core competencies all candidates must master.

Also, the model introduces three areas of specialty, with the CPA candidate specializing in one of them. The core competencies are audit, technology, accounting, and tax, and the three specializations, also called pillars, are tax compliance and planning, information systems and controls, and business reporting and analysis.

Employers want to hire the best employees, and employees want to work for the best companies. But in many companies, there remains a disconnect between what employees are looking for and what employers are offering. In particular, many employers believe the way to both attract and retain talent is to provide more money, better benefits, or other perks. However, while compensation is a factor in employee job satisfaction, it is certainly not the only factor, nor is it even the most important factor. It goes without saying that what will satisfy one employee may not satisfy another employee. However, while there is no formula for an ideal work environment, there are several job characteristics that employers would be wise to consider.

Valentine's Day is right around the corner, which seemed appropriate timing to remind CPA Candidates that your loved ones still want to feel connected with you. We know the demands of studying, busy season, and just life, in general, can make that challenging. So, what can you do to make sure you set the right expectations with your spouse, children, or other loved ones, while also receiving the support you need from them?

You may be studying for the CPA Exam, but most likely, you are simultaneously working in the accounting profession. As tax season approaches, there is undoubtedly a buzz around your office regarding taxes. And even if you are immune to filing tax returns at your job, you cannot escape filing (or at the very least, paying someone else to file) your tax return!

Technology distractions are ubiquitous these days. Studies show that many employees are working a fraction of the time they are on the clock – and technology is not just a distraction in the workplace. This issue begs the question: when you’re studying, what percentage of the time are you productively studying? Have you considered how many times you check your email or answer a text or tap your phone to see if anything popped up? And the problem is not merely the time spent on the device. The constant task-switching itself takes a toll on the effectiveness of your study time because every time you are distracted, it takes additional effort to refocus. 

If you're reading this, you failed a CPA Exam. Right now, you probably feel as though all of your hard work was for nothing. Maybe this isn't your first failure. Maybe you are just sitting there staring at your review material wondering how you can start AGAIN. 

It's not a good feeling, we know. BUT, we're going to remind you of a couple of things.

When talking about the hurdles to obtaining your CPA license, most people know about the three "E's" for licensure - Education, Examination, and Experience. However, since Sarbanes-Oxley in 2002, a fourth "E" has had increasing importance to not only continuing education, but also initial licensure. That fourth "E" is Ethics. 

Welcome to part two of our three-part series on how to get the most from your multiple choice question (MCQ) study time. If you missed part one, head here to catch up. If you’ve already read part one but need a little refresher, keep reading.

Welcome back to the final in our three part series about how to get the most out of your multiple choice (MCQ) study time. After discussing the four general ways to get more out of your study time and how to anchor all of your questions in the general accounting cycle in part one, and how to take that foundation-level knowledge to the next level and deep-dive into recommended topics in part two, for part three we are saying enough with the theory, already… let’s look at an example of how to work through a topic.

Multiple choice questions (MCQs) are the bane of many a CPA candidate’s existence - they will drill them day in and day out, relying on scores from these practice tests as a measure of readiness.  But there is more than one way to study using MCQs, and this three-part series will give you a better way to utilize your test bank and get more bang for your buck when practicing.