CPA Exam Review News Blog

Everyone has heard and most of us regularly keep a "To Do" list. Their detailed tasks sit line by line on folded up sheets of paper in pockets and in the notes sections of our phones. We cross them off and in doing so, feel a sense of accomplishment. One thing we don't give ourselves credit for is the very thing which gets in the way of crossing more of those "To Do" items off.

If the thought of a five hour work day in the corporate world of business seems impossible, you should really take a look at what Collins SBA of Tasmania is doing to shake the industry norm. A simple look at their website shows a slightly different face than you'd expect from a Financial Advisory company. They don't mince words about their alternative approach either - along with titles of "advisor" or "director" are Hiker, Diver, Coach, Architect, and Cook. This simple recognition about some of the people who make up the company gives you an inside look at how the company views their employees.

There's a lot to learn in the process of becoming a CPA and getting your license depends on more than just sitting for the exam. There may even be some differences depending on what state you are in. Before we dig into the details, let's cover some of the basics.

As a CPA, you will most likely be participating in many audits. Whether it involves performing the audit work, supervising the audit work, or reporting on the results of audit work. An essential part of the reporting of the results is writing the audit report, which provides an accounting firm’s opinion on whether the financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP).

Currently, Millennials are feeling the stress and increasing pressure of debt and it's impacting many areas of their lives. The AICPA released an article called "How to Take the Stress Out of Debt" in which they talk about the mental burden debt brings on top of the financial burden. They reported that nearly 75% of Millennials have debt and 43% have anxiety from their debt. This affects their sleep, work, and relationships in negative ways. But what can you do to help with this debt stress?

As a CPA, you may be called upon to examine, test, and report on the controls for various types of organizations. Most of the time, you will be dealing with controls that encompass internal operations. However, because of the integrated nature of business operations, a business may work with outside organizations to process transactions. So, the concern is not just that the controls of the company are working for are secure and keeping your data safe, but that the data sent to and from outside service providers is secure.

Say goodbye to the 2018 Tax Season and hello to studying for the CPA Exam!

First off, take a breather! You undoubtedly deserve a little rest, but make sure it doesn't last too long. Coming off busy season is a great time to transition into studying to get your CPA!

You are already being highly productive and maintaining a rigorous schedule, so you might as well keep it rolling. Obviously, you can cut out some of the habits which are not healthy. Re-institute time for exercise and friends, and get back some of the sleep you may have sacrificed -- but don't lose your stride. Those who competed in the Boston Marathon earlier this week are going to rest a little bit, but they aren't going to stop training! They already have their eyes on the next race and future goals.

Some think the little piece of paper hanging on their wall, the one with their alma mater's name, is the most important foot in the door to a successful career. Others believe their connections will take them to the places they want to go. Most are taught hard work, grit, intelligence, and putting in time is the key to success. While all those are important, they pale in comparison to the trait most successful people have - emotional intelligence.

Whether you're in the midst of busy season, studying for your fourth section of the CPA Exam, or both, you're going to find yourself exhausted. You'll need to figure out a way to get past the wall you will inevitably run into. Here are a few tips to be mindful of when you have that classic lack of energy and how to re-energize yourself!

Every one of our students has a different style of studying, learning, and tackling the CPA Exam. By this point in your seemingly never-ending-student-career you've no doubt seen every type we're going to talk about. But which one are you? And how could you improve?