CPA CFE (COMMON FINAL EXAM) SEP 2018

CPA Common Final Exam 2018 is approaching fast and now just two month away. Exam is conducted by CPA Canada only once a year. If student get through in the exam, he will get the most prestigious designation of CPA Canada. Many students are in process to do the same.

Exam is for three days and little more tough and lengthy. Most of you are busy with the jobs and family as well and left with little time to prepare well. As all of you know very well that exam is totally on case writing approach and time is always the constraint. Speed, accuracy and professional judgement are the essential skills in this exam.

Many students are struggling to pass day 2& 3 exam. Time constraint was faced by the students particularly for day 3. The most preferable approach is to read, understand and prepare outline in 30 % of available time for each case.

CPA is testing your knowledge from variety of in depth course concepts and as such you should have a through technical knowledge and practice for reading and understanding cases. In view of limited availability of time, we at Beyond Accounting Coaching Services have prepared 7 recorded video lectures exclusively for CFE 2018 exam. These lectures cover in brief all important technical competencies normally being tested in the exam. Exam is for total case writing approach, and without sound knowledge of technical concepts, it is difficult to provide in-depth response.

These video lectures are available at just $ 75 plus tax. Exclusive book CFE TECHNICAL GUIDE 2018 is also available at a cost of $ 165. For further information and for one to one coaching, you can contact us at www.beyond.coach or email at tutor.pa1.pa2@gmail.com

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Strategies to pass CPA Core 1 & Core 2 2018 exam

It is again now for students to well prepare for Core 1 & Core 2 exam scheduled on summer, fall & winter session of 2018.I observed that many students lack confidence for passing these exams. They remain very busy with job, family and also for submission of assignments. They also lack technical knowledge of various course area covered.Strong Technical knowledge is the key to success in these exams.These exams are evaluated on the basis of around 75 % MCQ and 25 % on one small case analysis. Exam is of 4 hour duration and as such students are required to do one multiple in about 2.5 minute and case analysis in 60 minutes.

I have seen many students could not get success in the last session on account of time constraint. They took more time in MCQ and as such could not allot enough time for case analysis. I provide following very successful strategy to pass these exams

1. Right from today, review your technical stuff of related course area along with your assignment work.

Financial Accounting and Management Accounting are the two major courses in both Core 1 and Core 2 respectively. Allot more time on it.
Learn the correct format of writing case analysis. Ensure that you read, understand and prepare the outline for case in 20 to 25 minutes. I have seen students normally are taking more time in the same and then lack confidence in writing the case effectively. Do the practices till you cannot achieve this.

Daily try to do some MCQ for the course area you have studied
In the exam, preferably first write the case in 60 minutes and then try for MCQ. This strategy is more successful to pass both theses exam.

Those who could not get success should consult experiences tutor for guidance and training. Repeated failure will increase frustration and you have only 3 attempt to get through
Those who have challenge exam, can also approach experienced tutor for guidance and training.

Students, who lack confidence in technical course area, can take my lectures online or at in person at Brampton location.For practice in MCQ, exclusive book is available for Core 1 & Core 2 at a cost of $ 165 plus 5 % tax for Core1 and $150 for Core 2, delivery free.

For any further question visit my web site www.beyond.coach or send email at tutor.pa1.pa2@gmail.com

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CPA CFE September 2018

 

CPA Canada Common Final Exam 2018

CPA Canada Common Final Exam 2018 consists of…

  • Capstone 1
  • Capstone 2
  • Common final exam

(a)  Day 1   (b)  Day 2   (c)  Day 3

Capstone 1:

  • A group assignment among 6-7 students
  • A case analysis of around 45-50 pages
  • Individually need to present with markers
  • The case is related to day 1 final exam
  • All students mostly get through in this work

Capstone 2:

  • A group assignment among 6-7 students
  • A case analysis of around 45-50 pages, role base
  • Individually need to submit the reply
  • The case is related to day 2 final exam
  • Student should select his role from Performance Management, Finance, Audit and Taxation in advance
  • Mostly all students pass this module

Day 1:

  • one case analysis of 4 hour duration (about 50 pages) based on enabling competencies related with ethics , problem solving, leadership and communication skill.
  • This is an extension of Capstone 1 case with different scenario. The focus is not on technical competencies but ethics, big picture and problem solving.
  • Answer should be based on a) situation analysis b) analysis of major issues c) conclusion and advise d) effective communication with holistic approach ( i.e. from all aspects)
  • Student need to separately pass this exam
  • Grade is either pass or fail

Day 2:

  • one case analysis of 5 hour duration (about 50 pages) based on technical competencies related with financial accounting, management accounting, and chosen role
  • Answer should be depth in financial or management accounting and in selected role
  • Grade will be for each issue, a) not address b) Just identify c) reaching competent d) competent e) competent with distinction
  • Day 2 will be graded combine with day 3

Day 3:

  • Three case analysis of total 4 hour duration based on technical and enabling competencies
  • Answer should be depth in financial or management accounting
  • Answer should be integrated with breath of other courses like taxation, audit, strategy and governance
  • Grade will be for each issue, a) not address b) Just identify c) reaching competent d) competent e) competent with distinction
  • Day 3 will be graded combine with day 2

Day 2 & 3:

To pass day 2 & 3, student should write answer with

  • Sufficient with aggregate all issues….Level 1
  • Depth in MA or FR ……Level 2
  • Depth of issue in selected role…Level 3
  • Breath of issues …..Level 4

Students must reply satisfying all 4 level in all major issues

Passing grade /limit will be decided for each exam by CPA Exam Board

Students should be familiar with all technical course are to pass this exam.

  • Financial Accounting
  • Management Accounting
  • Finance and Financial Planning
  • Taxation
  • Audit
  • Strategy & governance

Students also should have mastery and expertise knowledge in preparation of financial statements for all legal entities in Canada like Private , Public , Not for Profit corporation and Government.

Students will be provided with two booklets, one for case exam and other for rough work.  Students will also get CPA Canada HB and Income tax act (valid up to Dec 31 2017) PDF version.

To pass this exam, student should have a through technical knowledge along with applicability of related accounting standard in the final exam.

Exam questions are little complicated and  students should remain very careful about what exactly is the requirement.

CPA want a reasonable professional judgement  which student should have under normal circumstances. Speed and accuracy are equally important. Time constraint will be observed by the students particularly in Day 3.

To pass this exam at first attempt, students should know the techniques of writing this exam. They need proper guidance to approach this exam with some practice and feedback for improvement from a expert tutor.

Professionally qualified students from India & Pakistan in particular, need some more efforts to understand Canadian taxation law and accounting standard.

If you require expert guidance and coaching, contact www.beyond.coach.

Tutor Paresh Desai CPA-CGA, CMA(USA) FCMA(INDIA) …..he has also published exclusive book CFE Technical Guide 2018…his cell no 6475056648

 

 

 

 

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IAS 2, Inventory

Inventory

Inventory is one of the main items in the financial statements, and as such many time questions are appearing related to it in your final exam.

Inventories are of following types:

  • Raw materials
  • Work in process
  • Consumable stores and spares
  • Finished goods

It is appearing in balance sheet as current assets and in cost of goods sold (credit side on income statement) in income statement. Increase or decrease in inventories will directly have impact on current ratio and profit or loss of a company.

Inventory is measured at the lower of cost and net realizable value (NRV). Note that inventory includes land held for resale but does not include financial instruments.

NRV is the estimated selling price in the ordinary course of business less: (1) the estimated costs of completion; and (2) the estimated costs necessary to make the sale.

Cost should include all:

  • costs of purchase (including taxes, transport, and handling) net of trade discounts received
  • costs of conversion (including fixed and variable manufacturing overheads) and
  • other costs incurred in bringing the inventories to their present location and condition

Inventory cost should not include:

  • abnormal waste
  • storage costs
  • administrative overheads unrelated to production
  • selling costs

LIFO cost flow assumption is not permitted under IFRS.

 

 

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CPA CFE (COMMON FINAL EXAM) SEP 2017

 

CPA Common Final Exam 2017 is approaching fast and now just one month away. Exam is conducted by CPA Canada only once a year. If student get through in the exam, he will get the most prestigious designation of CPA Canada. Many students are in process to do the same.

Exam is for three days and little more tough and lengthy. Most of you are busy with the jobs and family as well and left with little time to prepare well. As all of you know very well that exam is totally on case writing approach and time is always the constraint. Speed, accuracy and professional judgement are the essential skills in this exam.

CPA is testing your knowledge from variety of   in depth course concepts and as such you should have a through technical knowledge and practice for reading and understanding cases. In view of limited availability of time, we at Beyond Accounting Coaching Services have prepared 8 recorded video lectures exclusively for CFE 2017 exam. These lectures cover in brief all important technical competencies normally being tested in the exam. Exam is for total case writing approach, and without sound knowledge of technical concepts, it is difficult to provide in-depth response.

These video lectures are available at just $ 75 plus tax. For further information and for one to one coaching, you can contact us at www.beyond.coach or email at tutor.pa1.pa2@gmail.com

 

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CPA CFE Study Plan 2017

Study plan for CPA CFE 2017

CPA Common Final Exam 2017 is approaching fast and couple of months away. Exam is conducted by CPA Canada only once a year. If student get through in the exam, he will get the most prestigious designation of CPA Canada. Many students are in process to do the same. Many of you are appearing for the first time while some others are writing again by a second and or third attempt.

Exam is for three days and little more tough and lengthy. Most of you are busy with the jobs and family as well and left with little time to prepare well. As all of you know very well that exam is totally on case writing approach and time is always the constraint. Speed, accuracy and professional judgement are the essential skills in this exam. Do no seat peacefully, thinking that you will attend five days of course of case writing with private tutors and will easily get through.

CPA is testing your knowledge from variety of   in depth course concepts and as such you should have a through technical knowledge and practice for reading and understanding cases. I advise you all to prepare very well in advance for the final exam. If you feel you are short with the time availability, plan in advance for your leave.

We at Beyond Accounting Coaching Services, regularly conduct classes at Brampton location and on line through Skype on weekend basis. Our approach for CFE 2017 is weekly learning in depth and then tests you for mock exam for case writing. We identify your weakness and guide you to write cases effectively to prepare you to get through the exam at the first attempt.

 

You can contact us at www.beyond.coach or email at tutor.pa1.pa2@gmail.com

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Strategies to pass CPA Core 1 & 2

It is again now for students to well prepare for Core 1 & Core 2 exam scheduled on summer, fall & winter session of 2017. I observed that many students lack confidence for passing these exams. They remain very busy with job, family and also for submission of assignments. They also lack technical knowledge of various course area covered. Technical knowledge is the key to success in these exams. These exams are evaluated on the basis of around  75 % MCQ and 25 % on one small case analysis. Exam is of 4 hour duration and as such students are required to do one multiple in about 2.5 minute and case analysis in 60 minutes.

I have seen many students could not get success in the last session on account of time constraint. They took more time in MCQ and as such could not allot enough time for case analysis. I provide following very successful strategy to pass these exams

  • Right from today, review your technical stuff of related course area along with your assignment work.
  • Financial Accounting and Management Accounting are the two major courses in both Core 1 and Core 2 respectively. Allot more time on it
  • Learn the correct format of writing case analysis. Ensure that you read, understand and prepare the outline for case in 20 to 25 minutes. I have seen students normally are taking more time in the same and then lack confidence in writing the case effectively. Do the practices till you cannot achieve this.
  • Daily try to do some MCQ for the course area you have studied
  • In the exam, preferably first write the case in 60 minutes and then try for MCQ. This strategy is more successful to pass both theses exam
  • Those who could not get success should consult experiences tutor for guidance and training. Repeated failure will increase frustration and you have only 3 attempt to get through
  • Those who have challenge exam, can also approach experienced tutor for guidance and training

Students, who lack confidence in technical course area, can take my lectures online or at in person at Brampton location.  For practice in MCQ, exclusive book is available for Core 1 & Core 2 at a cost of $ 145 plus 5 % tax, delivery free.

For any further question visit my web site www.beyond.coach or send email at tutor.pa1.pa2@gmail.com

 

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CPA Common Final Exam 2017

CPA Canada Common Final Exam 2017 consists of…

• Capstone 1
• Capstone 2
• Common final exam
(a) Day 1
(b) Day 2
(c) Day 3

=========================

Capstone 1:

• A group assignment among 6-7 students
• A case analysis of around 45-50 pages
• Individually need to present with markers
• The case is related to day 1 final exam
• All students mostly get through in this work

===========================================

Capstone 2:

• A group assignment among 6-7 students
• A case analysis of around 45-50 pages, role base
• Individually need to submit the reply
• The case is related to day 2 final exam
• Student should select his role from Performance Management, Finance, Audit and Taxation in advance
• Mostly all students pass this module

==============================================

Day 1 :

• one case analysis of 4 hour duration (about 50 pages) based on enabling competencies related   with ethics, problem solving, leadership and communication skill.
• This is an extension of Capstone 1 case with different scenario. The focus is not on technical
competencies but ethics, big picture and problem solving.
• Answer should be based on a) situation analysis b) analysis of major issues c) conclusion and     advise d) effective communication with holistic approach ( i.e. from all aspects)
• Student need to separately pass this exam
• Grade is either pass or fail
==============================================

Day 2 :

• one case analysis of 5 hour duration (about 50 pages) based on technical competencies related with
financial accounting, management accounting, and chosen role
• Answer should be depth in financial or management accounting and in selected role
• Grade will be for each issue, a) not address b) Just identify c) reaching competent d) competent   e) competent with distinction
• Day 2 will be graded combine with day 3

==============================================

Day 3:

• Three case analysis of total 4 hour duration based on technical and enabling competencies
• Answer should be depth in financial or management accounting
• Answer should be integrated with breath of other courses like taxation, audit, strategy and
governance
• Grade will be for each issue, a) not address b) Just identify c) reaching competent d) competent   e) competent with distinction
• Day 3 will be graded combine with day 2

=============================================

Day 2 & 3 :

To pass day 2 & 3, student should write answer with
• Sufficient with aggregate all issues….Level 1
• Depth in MA or FR ……Level 2
• Depth of issue in selected role…Level 3
• Breath of issues …..Level 4
Students must reply satisfying all 4 level in all major issues

Passing grade /limit will be decided for each exam by CPA Exam Board

==========================

Students should be familiar with all technical course area to pass this exam.

• Financial Accounting
• Management Accounting
• Finance and Financial Planning
• Taxation
• Audit
• Strategy & governance

Students also should have mastery and expertise knowledge in preparation of financial statements for all legal entities in Canada like Private, Public, Not for Profit Corporation and Government.
Students will be provided with two booklets, one for case exam and other for rough work. Students will also get CPA Canada HB and Income tax act (valid up to Dec 31 2016) PDF version.

===================================================

To pass this exam, student should have a through technical knowledge along with applicability of related accounting standard in the final exam.

Exam questions are little complicated and students should remain very careful about what exactly is the requirement.

CPA want a reasonable professional judgement which student should have under normal circumstances. Speed and accuracy are equally important. Time constraint will be observed by the students particularly in Day 3.

=================================================

CPA exam Board has published comments for CFE Sept 2016 exam. The main weakness of students was as below.

Day 1:

• Communication was poor. In some of the response it was
unclear and repetitive.
• Financial calculations was not clear and at many occasions,
incomplete.
• Students have written more than expected in one particular
issue

Day 2 & 3

• Students find shortage of time to finish the full answer
• Issues were not prioritize

==================================================

To pass this exam at first attempt, students should know the techniques of writing this exam. They need proper guidance to approach this exam with some practice and feedback for improvement from a expert tutor.

Professionally qualified students from India & Pakistan in particular, need some more efforts to understand Canadian taxation law and accounting standard.

If you require expert guidance and coaching, contact www.beyond.coach, email:tutor.pa1.pa2@gmail.com

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CPA Core 2 Exam 2017

Appearing in CPA Core 2 2017?

Struggling To Pass Core 2 Exam in CPA?

The Core 2 exam consist of

  • Management Accounting 50- 70 %
  • Strategy and Governance 10-30%
  • Finance 10-20%
  • Financial Reporting 0-10 %

Structure of Core 2 Exam:

The exam is of 3 hour. 60-75 % small objective type MCQ. 25-40% is case analysis.

Core 2 cases will assess competencies mainly in Management Accounting, but will integrate one or two other competency areas. Although the cases will focus on Core 2, all prior learning’s are also testable, i.e. Entry-level competencies. Candidates will have access to restricted resource material, i.e. CPA Handbooks, the Income Tax Act and present value tables, a list of common ratios, a tax-shield formula and other relevant tax information. However students  has limited time to go through the same. Enabling skills are also assessed through case analysis and short questions

How to pass Core 2 2017?

Student should be through competent in all main concepts of technical knowledge of all main course area, i.e. Management Accounting, Financial Reporting and Governance. He should also know the right approach and format of writing case analysis. Buy the book published by the tutor, CPA Core 2 Study Guide 2017. Contact tutor by email, tutor.pa1.pa2@gmail.com for taking tuition for in class or on line for appearing in the exam with more confidence.

 

 

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CPA Core 1 2017 Exam

Appearing in CPA Core 1 2017?

Struggling To Pass Core 1 Exam in CPA?

The Core 1 exam consist of

  • Financial Reporting 50- 70 %
  • Audit 10-30%
  • Taxation 10-20%
  • Finance 0-10 %

Structure of Core 1 Exam:

The exam is of 3 hour. 60-75 % small objective type MCQ. 25-40% is case analysis.

Core 1 cases will assess competencies mainly in Financial Reporting, but will integrate one or two other competency areas. Although the cases will focus on Core 1, all prior learning’s are also testable, i.e. Entry-level competencies. Candidates will have access to restricted resource material, i.e. CPA Handbooks, the Income Tax Act and present value tables, a list of common ratios, a tax-shield formula and other relevant tax information. However you have limited time to go through the same. Enabling skills are also assessed through case analysis and short questions.

How to pass Core 1 2017?

Student should be through competent in all main concepts of technical knowledge of all main course area, i.e. Financial Reporting, Audit, Taxation and Finance. He should also know the right approach and format of writing case analysis. Buy the book published by the tutor, CPA Core 1 Study Guide for 2017 which includes Technical, MCQ and Cases. Contact tutor on email tutor.pa1.pa2@gmail.com for taking tuition for in class or on line for appearing in the exam with more confidence.

 

 

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