NJSCPA Exam Cram Blog

Countdown: -7

Wow!!! Only 7 days to the FAR test. The pressure is on.

The brain feels like a small factory where machines are puffing and steaming, pistons and mechanical arms are cranking and hammering, workers are sweaty and greasy, electric charges are sparking out … trying to connect, join, and combine all the information and come up with the right answer.

Will I pass and see the ‘Holy Grail’ closer?  Or will I have to repeat the test in a couple of months?  Mhmmm ?!?

Test on the 30^th, but the result is only after the 8^th of June.

Well I will have plenty of time for myself and my family.

And I will be looking for my dream job in an accounting firm.

Stay tuned for more.

Claudio B.

Hands up, pens down !!!

Taxes are done! A couple of days of ABSOLUTE nothing and then, FAR at full speed!

Good Rest to All Tax Accountants.

 

Claudio B.

TAXES vs. FAR

TAXES, TAXES, TAXES. It seems all the clients waited the last week to file them. It's fun!!! The pressure is high! The sleep time is low (very low!) The adrenaline is abundandant! The time for eating a decent meal is none! It's fun!!!

You probably think I am nuts!!! I am just an accountant!

I am just a little bit concerned... FAR test is coming up and I have no time left to study.

Stay tuned for more.

Ciao

Claudio B.

WHAT A WEEK

Monday, out of the blue, I received a call for a job interview in Manhattan – a couple of hours commute from home. Being of Italian heritage, working for an Italian company sounded marvelous. The position is very prestigious – assistant controller. My resume and experiences were impressive to them – they said! Did they really mean it? Hmmm – Anyway, the excitement is over the top!  Conclusion: my FAR preparation got stuck!!!

I am half way through the material and studying in the train is not attractive, nor efficiently productive. Until now I can ‘clock in’ a solid three hours before to go to work in the morning, between 4 and 7am (thanks to Roger and his RICKS*) and weekends. But it is after my concern. The FAR exam is for April, but I guess I will have to postpone it. GRRRR!!!

Stay tuned for more,

Claudio B.

* Roger of RogerCpaReview.com and his mnemonics and tricks [I invented the RICKS word  ;) ]

Tax: Week 2

I am into week two of tax season.  Nothing really has changed yet, except coming into the office on Saturdays.  The firm is utilizing the Saturday’s in January to train the new staff in tax work. 

 

In the world of studying, I have been really pushing myself to study a little bit at a time, even using my half of my lunch hour to squeeze in some book time.  Every little bit helps.

 

This weekend is my (our) engagement party.  We have been planning the dinner event for about three months, looking forward to sharing the night with my friends and family.  Our next big event would most likely be the purchasing of our home or the wedding; depending how everything falls in line.

 

Additionally, I have started a web forum for golf.  A project that I wanted to start for some time but needed to put my hands to work.  It is still in the start up phase but with any luck (and a little work) it just might grow into a decent size forum.

First Tax Season

Hello all!!!

Wishing you a Happy New Year!  May this be the year we add three letters to the back end of our names. 

Just completed my first week of tax season.  In fact, today is my first Saturday working since September of 2006. 

Today, the firm is providing a training to everyone regarding 1099s.  Should be interesting.  Want to soak up as much as possible, as early as possible so I can shine when the going gets tough. 

Anyone else start their tax season hours yet?

MRD

Its been a long time!

I would like to apologize to the readers of this blog as well as the members of the NJSCPA for not making a blog entry for a complete month.

 

My studying and work has really taken control of my life.  Despite my efforts to keep a good work/life balance, the weight of the world continues to stand on top of my shoulders. 

 

On a lighter note, I have come up with an interesting way to learn more about accounting and the QuickBooks software.  A few years ago I bought the book, The Accounting Game: Basic Accounting Fresh From the Lemonade Stand.  The authors explain accounting in terms of owning a lemonade stand. 

 

I read the book in college but recently wanted to pick it back up to build a story line of company transactions.  My goal is to take these transactions and turn them into entries in QuickBooks.  Today, during lunch, I created a new company in QuickBooks 2011, called My Lemonade Stand, and will begin to enter in the events of the book’s story line.

 

We will see how it works out.

 

On a personal note:  How are the holiday plans coming along for you?  I have started to put together a shopping list, but have yet to kick off my contribution to the holiday lines.

 

MRD

I just got to my Prometric Testing Center…now what should I expect?

So you’ve prepared for weeks for your first exam… you’ve got your flashcards all memorized… you’ve gone through all of the multiple choice questions several times… you’re ready! So what happens when you get into the Prometric testing center? What should you expect?

You can read all of the permissible items allowed in a testing center, but I can summarize it in one word: government-issued-photo-ID. The only item you will need to keep with you at all times is your government-issued-photo-ID (driver’s license or passport) because when you check in, it will be scanned and verified each time to enter and exit the testing room. Anything else you will need to take the exam (scratch paper and pencil) are all provided by the testing center. You will receive the scratch paper and pencil from a test coordinator immediately before walking into the testing room.

‘But what does walking into a testing center feel like? What do I do there?’

I have only ever tested at two locations in NJ – Fairlawn (my favorite) and Clark – but the policies and procedures are the same at any location around the country. You arrive in the waiting room and check-in with a receptionist. He/she will provide you with a locker key for you to lock up any items you may have brought with you (your NTS, purse, cell phone, car keys, etc.). The only thing you keep with you at all times is that locker key and your ID. Then you wait to be called into the screening room. In the screening room you will be asked to show your government ID to the facilitator, he/she will take your photo, and then have you sign in. Before leaving the screening room and walk into the testing room to begin your exam you will need to empty out all of your pockets to make sure you’re not hiding anything. Once you’re done with that, you’re escorted into the room and you may begin your exam.

Recommendations for testing day:

• Wear clothing that you’re comfortable in
• If it’s cold outside, try to wear something that will keep you warm keeping in mind the rooms are heated
• Try to wear shirts with solid colors – avoid shirts with writing on them to avoid any possibility of being “called out” for writing in violation of their policies
• If you don’t know where the testing center is, give yourself PLENTY of time to find it and decompress from the anxiety you’ll have. Always best to arrive extra early if you’re unfamiliar with the traffic patterns and location.

 

Good luck!

Jerry

AUD Today

Wish me luck, today I sit for AUD section of the exam. Hopefully my preparation and studying is sufficient enough for a gentleman’s 75.

In addition, a recent e-mail NASBA release the schedule of anticipated score release dates you can find listed below.

The score release schedule for candidates who have tested at a domestic location is in the table below:

Day in Testing Window **	Target Release Date Timeline	Target 11Q4  Score Release
Day 1 – 20	10 business days following day 20 of the testing window	November 3
Day 21 – 45	5 business days following day 45  of the testing window	November 21
Day 46 – Close of Window	5 business days following the close of the testing window	December 7
After Close of Window	5 business days after receiving all scoring data for the testing window	TBA

 

More of FAR

Allow me to be honest – Studying for the CPA exam and working is really tough to balance!  Now that I told you something you already know, we can move on.

I have really utilized my time between work and sleep to study.  It really comes down to about two hours four days a week.  I admit, since I am studying for my first exam, I do not have to worry about the 18 month deadline; which means I do not have shorter period of time to study.  I will cross that bridge when I get to it. 

As for work – everything is going great!  I was getting into my car last night at 8PM after working a very full day, reflecting on the day’s events.  I thought to myself how the day was full of repetitive and boring tasks – I LOVE IT!    I never leave the office feeling unfulfilled.  If you ever worked a really meaningless job, you know what I am talking about.  It is human nature. 

I do have two questions to ask my accounting peers:

a)     Why does it seem like clients hate accountants?  Perhaps it is just at my firm, but of the small list of five clients I have, not one of them returns phone calls or properly greets me on my client visits. 

b)     Why do business owners wait for the last day to submit paperwork so I can make sales tax payments?  Is this going to be what tax season will be like?  Are they that unorganized? 

 

MRD