Author Archives: Paresh Desai

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CPA CFE September 2021/Strategies to pass at first attempt

Strategies to pass CPA CFE September 2021

Exam dates are now approaching fast. Economic situation at Canada is still not favorable. Stress is building on with many students. Many students were thinking where to start. Friends and some of advisers may tell you to write cases first.

Should you start cases now? Answers is very simple, No. You might have learnt that secret of passing this last exam is writing so many cases. However, you have been misguided.

It is preferable first to start reviewing all technical knowledge. First start with Financial Reporting, as it is lengthy and difficult. Focus on most tested competencies in the past exam. Try to make practice to read, understand and techniques to write effectively. Prepare your own notes if possible.

Many students are finding difficulties in Management Accounting as well. Try to focus more on CVP analysis, relevant costing, marginal costing, and contribution. Focus on quantitative and qualitative analysis to solve strategic issues. Examine how strong you are in preparation of a financial viability report. This will be tested in Day 1 exam. Look and practice PV calculations etc.

Examine in detail about assessment of your exam for Day 1 & Day 2 & 3. Many students find shortage of time to finish the exam particularly for Day 1 and Day 3, mainly on account of lac of technical knowledge and techniques of writing the exam. Professional approach, use of quick and correct judgement based on your analysis are keys to success in the exam. I have learnt that use of split screen seems useful in the exam to write and understand quickly. You may try to have practice of doing same if it saves your time.

Indian and Pakistan CA, who have granted exemption in all prior courses, should take help of well experienced tutor as case analysis and taxation are totally new to them.

If anyone is interested in coaching/training, please contact me immediately at tutor.pa1.pa2@gmail.com, website www.beyond.coach, seats are limited due to rush on account of Covaid 19.

 

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Slide13

2021 September CPA CFE Day 1 Exam /Capstone 1

How to pass CPA CFE September 2021 Day 1 Exam/Capstone 1

I found that many students are finding difficulty in passing the CPA CFE day 1 exam. Even in 2020, professionally qualified CA from India and other countries could not get success in passing day 1 exam. Some have approached me to put one course exclusively for Day 1. I provide below in brief some important hints to pass this exam at first attempt.

Day 1 – Evaluating your soft / professional skills (4 hours)

The first day of the CFE is a Pass/Fail mark treated separately and distinctly from Day 2 or 3.

You can pass or fail Day 1 regardless of how you do on Day 2 and Day 3. Similarly, if you fail Day 1, you need to re-do, and successfully complete Day 1 regardless of how you did on Day 2 or 3. The success is based on your holistic approach to the case, total solution. Day 1 is linked to the Capstone 1 module with the case being directly tied to your Capstone 1 case. Day 1 tests your soft/professional skills, at a senior management level discussion.  You are not expected to discuss accounting or other technical competencies in any great detail but focus on the ‘enabling competencies’.

Day 1/ Capstone 1 case is mainly focusing on enabling competencies. Therefore, the report will focus enabling competencies in depth and technical up to level 1. Enabling competencies are, problems solving and professional judgement, leadership, ethical, communication etc. (refer CPA competency map). Day 1 case is mainly related to problem solving issues. I briefly mention below steps to do Day 1 case.

Read, understand, and highlight all important points and issues in the case carefully including required and format for the reply. Case will be around 40-50 pages. In the final day 1 exam, the background of the case is same and linked to your Capstone 1 case. You can take around one hour to do this.

  1. During your reading, highlight with separate color a) points related with present structure particularly (SWOT analysis) strengths, weakness, opportunities, and threats b) factors affecting competition, demand and supply, customers, and suppliers (porter 5 forces) c) political, technical, environmental points, industry average if any d) key success factors e) mission and vision of the organization f) financial overview and etc.
  2. You are required to prepare your first part of your answer “Situation analysis” from above. However please ensure that you will provide your information in brief highlighting all important relevant details affecting the changes in circumstances.
  3. Identify all major issues related with capital investment, operational issues if any. You can write briefly issue 1, 2…and so on. In the second part, you are required to provide quantitative and qualitative analysis of major issues related with capital investment. Integrate data with taxation and mission and vision of the organization and provide your conclusion for each major issue. Also provide analysis and recommendation for operational issues as well. In part 2 for major issues, prepare excel sheet working showing very clearly all your calculations which marker can easily follow and understand. For PV calculation, use a weighted average discount rate for all PV calculations.
  4. Second part is a major part of your answer…
  5. In last part, provide your final recommendation based on your analysis in part 2
  6. Ensure your communication is noticeably clear, easy to understand and provide an integrated total solution of the whole case. You must come out from a big crowd, therefore see that your answer is highly effective and may win the heart of a marker.

Students are required to prepare a report. See the format of report in detail.

You can also see my you-tube video…link as below.

https://youtu.be/DfYe8TZZ4Ck 

If anyone need any more information and like to go for coaching for Day 1 and or for full exam, please visit my website www.beyond.coach, cell: 16475056648, email: pcdesai1454@gmail.com. Beyond Accounting Coaching Services…Paresh Desai CPA-CGA, CMA (USA) FCMA(India)

 

 

 

 

 

 

 

 

 

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Front page -book 2021

2021 CPA CFE/CPA Core 1& Core 2/Electives// Case analysis and Time management

2021 CPA CFE/CPA Core 1& Core 2/Electives// Case analysis and Time management

CPA Canada exams are now online on account of Covaid 19. The format of all the exams for various courses is case analysis. I have seen many students are finding difficulties to finish the exam in specified time limit and to approach cases in the correct way.

Effective time management is one of the most important skill required to pass CPA Exam. In

CPA CFE, students are finding difficulties to finish cases particularly in Day 1 and Day 3. In Core 1 and Core 2 also, now in online exams, many students are finding hard to finish both the cases within the time limit.

One of the main reason responsible for time constraint is lack of technical knowledge. Students are taking more time in reading, understanding, and outlining the case facts. Many students are not familiar with techniques of writing effective cases.

  1. Make sound practice to read, understand and outline in first 30% of available time limit.
  2. Take coaching and training with experienced tutor for technical knowledge and techniques for writing cases.
  3. While learning, try to do some MCQ to make your concepts clear.
  4. If possible do not use folio views and CPA handbook section particularly in Day 1 and Day 3 of final exam except for taxation.

I have self-published book for CPA Core 1/ Core 2 which contains, Technical, MCQ and 5 cases with solutions. Book is also available for CPA CFE 2021 exam.

Repeat writers and challenge exam students are most welcome for coaching. Visit my website www.beyond.coach, email me at tutor.pa1.pa2@gmail.com

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Front page -book 2021

CPA CFE May 2021 Day 1 Exam/Capstone 1

How to pass CPA CFE May 2021 Day 1 Exam/Capstone 1

I found that many students are finding difficulty in passing CPA CFE day 1 exam. Even in 2020, professionally qualified CA from India and other countries could not get success in passing day 1 exam. Some have approached me to put one course exclusively for Day 1. I provide below in brief some important hints to pass this exam at first attempt.

Day 1 – Evaluating your soft / professional skills (4 hours)

The first day of the CFE is a Pass/Fail mark treated separately and distinctly from Day 2 or 3. You can pass or fail Day 1 regardless of how you do on Day 2 and Day 3. Similarly, if you fail Day 1, you need to re-do, and successfully complete Day 1 regardless of how you did in Day 2 or 3. The success is based on your holistic approach to the case, total solution. Day 1 is linked to the Capstone 1 module with the case being directly tied to your Capstone 1 case. Day 1 tests your soft/professional skills, at a senior management level discussion.  You are not expected to discuss accounting or other technical competencies in any great detail but focus on the ‘enabling competencies’.

Day 1/ Capstone 1 case is mainly focusing enabling competencies. Therefore report will focus enabling competencies in depth and technical up to level 1. Enabling competencies are, problems solving and professional judgement, leadership, ethical, communication etc. (refer CPA competency map). Day 1 case is mainly related with problem solving issue. I briefly mention below steps to do Day 1 case.

  1. Read, understand, and highlight all important points and issues in the case carefully including required and format for the reply. Case will be around 40-50 pages. In the final day 1 exam, background of the case is same and linked to your Capstone 1 case. You can take around one hour to do this.
  2. During your reading, highlight with separate color a) points related with present structure particularly (SWOT analysis) strengths, weakness, opportunities, and threats b) factors affecting competition, demand and supply, customers, and suppliers (portal 5 forces) c) political, technical, environmental points, industry average if any d) key success factors e) mission and vision of the organization f) financial overview and etc.
  3. You are required to prepare your first part of your answer “Situation analysis” from above. However please ensure that you will provide your information in brief highlighting all important relevant details affecting the changes in circumstances.
  4. Identify all major issues related with capital investment, operational issues if any. You can write briefly issue1,2…and so on. In the second part, you are required to provide quantitative and qualitative analysis of major issues related with capital investment. Integrate data with taxation and mission and vision of the organization and provide your conclusion for each major issues. Also provide analysis and recommendation for operational issues as well. In part 2 for major issues, prepare excel sheet working showing very clearly all your calculations which marker can easily follow and understand. For PV calculation, use weighted average discount rate for all PV calculations.
  5. Second part is a major part of your answer…
  6. In last part, provide your final recommendation based on your analysis in part 2
  7. Ensure your communication is noticeably clear, easy to understand and provide integrated total solution of the whole case. You must come out from a big crowd, therefore see that your answer is highly effective and may win the heart of a marker.

Students are required to prepare a report. See the format of report in detail.

You can also see my you-tube video…link as below.

https://youtu.be/DfYe8TZZ4Ck

If anyone need any more information and like to go for coaching for Day 1 and or for full exam, please visit my website www.beyond.coach, cell: 16475056648, email: pcdesai1454@gmail.com. Beyond Accounting Coaching Services…Paresh Desai CPA-CGA, CMA (USA) FCMA(India)

 

 

 

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Strategies to pass online exam of CPA Core 1 /Core 2 2021

Strategies to pass Online CPA Core 1 and Core 2 exam 2021 Canada

It is again now for students to well prepare for Core 1 & Core 2 exam scheduled during 2021. I observed that many students lack confidence for passing these online exams under Covaid situation. CPA has changed exam pattern from 75 % MCQ & 25 % on one small case analysis to two case analysis. One of the reasons for failure is students remain remarkably busy with job, family and 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.

I have seen many students could not get success in the exam on account of time constraint. They took more time in first case and as such could not allot enough time for the second case analysis. This indicates lac of practice of writing cases effectively.

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.
  • Those who could not get success should consult experiences tutor for guidance and training. Repeated failure will increase frustration and you have only 3 attempts to get through. Those who have challenge exam, can also approach experienced tutor for guidance and training.
  • Failure in either MCQ or Case analysis is mainly due to lack of technical knowledge and lack of practice and techniques to solve the MCQ and or understanding and analysis of major issues in the case.

Students, who lack confidence in passing the course area, repeat writers, can take my lectures online. Exclusive study guide is available for both Core 1 & Core 2 for 2021 exam at a cost of $ 165 plus 5 % tax for Core1 and $155 for Core 2 (delivery free). Book contains all related technical concepts, enough selected MCQ and five cases with solution.

For any further question visit my weCORE 1 COVER PAGE_Page_1 CORE 2 COVER PAGE_Page_1b site www.beyond.coach or send email at tutor.pa1.pa2@gmail.com

 

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ADFB6C1

CPA Core1 and CPA Core 2 online exam fall 2020 Canada

Strategies to pass CPA Core 1 / CPA Core 2 online exam fall 2020/2021 Canada

It is again students will face online exam to write in fall 2020. Because of Covaid 19, CPA had changed the format for writing online exam to 2 case analysis instead of 75 % MCQ and one case analysis. It was observed that many students are struggling to write case analysis in the exam and could not get the success. I observed that many students lack confidence for passing these exams. They remain busy with job, family and 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.

I provide following highly 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 30% of allotted time in each case. 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 read technical, solve some MCQ to understand the concepts clearly. If not, look into some example to go in more depth.
  • Those who could not get success should consult experiences tutors for guidance and training. Repeated failure will increase frustration and you have only 3 attempts to get through. Those who have challenge exam, can also approach experienced tutor for guidance and training.
  • Failure in either MCQ or Case analysis is mainly due to lack of technical knowledge and lack of practice and techniques to solve the MCQ and or understanding and analysis of major issues in the case.

Students, who lack confidence in passing the course area, repeat writers, can take my lectures online. Exclusive book is available for Core 1 & Core 2 at a cost of $ 150 plus 5 % tax for Core1 and $140 for Core 2 (delivery free). Book contains all related technical concepts, enough selected MCQ and three cases analysis with solution. For repeat writers, one to one tuition is recommended.

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

 

 

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AD1

CPA CFE 2020 Canada

 

CPA CFE Sept 2020

You all are now busy with the final preparation of your exam in September 2020. Identifying issues and providing in depth response is the key to success in case writing particularly for Financial Reporting. I advise you to follow IAAR approach for depth of the issue. Identify it, analyze it providing reasons for the issue, provide options if any to resolve it and then your valid and correct recommendation based on your analysis. Many students are facing problem to reach up to C and CD level on account of lack of technical knowledge. CPA want speed, accuracy and use of professional judgement in variety of case situation. Make enough practice to see that you can read, understand, and identify all issues with point wise analysis in 30 percent of available time in case writing to get success at the final exam.

One of the important issues in present scenario is going for IPO by the private corporation. See the following important points you are required to mention in your response.

Implications of Going For IPO:

  1. Look into the existing business environment, bottom line and future prospectus for the company, SWOT analysis and or M D & A will be useful tools for managerial decision. See the implication form long term and short-term point of view
  1. Need to check about loss of control on account of issue of new shares
  1. From audit perspective, audit cost will increase on account of more users and reporting of extra requirements due to IFRS. This is also on account of preparation of prospectus and consent of auditor before publishing interim financial statements. More accurate and reliable financial

information is required due to more users. IT system may need to be updated and or revised.

  1. High cost of underwriter, advertisement, and cost related with listing requirement            applicability of IFRS, comparative information for earlier year and requirement of                additional   information in the notes to FS
  1. Option for fair valuation of PPE and its impact on financial statements and on share price
  1. Tax payable method of accounting is not allowed in IFRS, and as such future lax assets/liability  will be worked out and recorded in FS
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ADFB3Core 1

Strategies to pass CPA Core1 and Core 2 2020 Exam

Strategies to pass CPA Core 1 and Core 2 exam 2020 Canada

It is again now for students to well prepare for Core 1 & Core 2 exam scheduled on summer, fall & winter session of 2020.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 hour of exam 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 attempts to get through Those who have challenge exam, can also approach experienced tutor for guidance and training.
  • Failure in either MCQ or Case analysis is mainly due to lack of technical knowledge and lack of practice and techniques to solve the MCQ and or understanding and analysis of major issues in the case.

Students, who lack confidence in passing the course area, repeat writers, can take my lectures online or at in person at Brampton location. 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). Book contains all related technical concepts, enough selected MCQ and three cases analysis with solution.

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

 

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blog

How to pass CPA CFE 2020 Canada Day 2 & 3 Final Exam

 

How to pass CPA CFE 2020 Day 2 & 3 Final Exam

Many students are unable to pass CPA CFE Day 2 & 3 Final Exam. Students should review all related technical concepts for all six subject competencies. Care should be taken for selected core roll as you will face about 8 issues in Day 2. Normally students found shortage of time particularly in Day 3. Speed, accuracy, and professional approach for writing cases are most essential to get success. I summarize some important points for getting success at the final exam.

From the last two slides, you will notice, expected case of a company for your 2020 exam. You will also observe that there are around 30-35 issues in day 2 & 3 exam, out of which about 13-15 are in day 2. Roll base has around 8 issues. FR & MA each have 8 issues in total for both the days. Remaining is for breath of competencies. It is expected that you may face case of a private company with Financial Reporting issues in Day 2, and for Day 3 you may face public and or not for profit corporation.

The result was better in Audit & Taxation in comparison to FN & PM for day 2 roll base. Also see the marker’s comments and how you can improve on the same.

If anyone need any special guidance and or coaching can contact me on my web site www.beyond.coach or emai:pcdesai1454@gmail.com

Day 2 – Comprehensive Case evaluating (5 hours)

  • 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
  • Avoid skipping any competencies

Day 3 – Small cases (usually three) (4 hours)

  • 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
  • Time management and outlining will be important
  • Don’t skip competencies

Marking of 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 (Competent grade C)
  • Depth of issue in selected role Level 3 (Competent grade C)
  • Breath of issues …..Level 4 ( Reaching Competent RC)
  • Students must reply satisfying all 4 level in all major issues
  • Passing grade /limit will be decided for each exam by CPA Exam Board

How you score

For each assessment opportunity (indicator) you’ll score one of the NA – CD scores.

  • Not Addressed (NA)– You did not identify the issue in the case
  • Nominal Competence (NC)– You identified the issue but only covered it superficially. Not much (if any) value added. No evidence of competence demonstrated
  • Reaching Competence (RC)– You identified the issue and covered it, but it was not sufficiently covered to achieve a C
  • Competent (C)– You discussed the issue in a sufficient level to meet expectations.
  • Competent with Distinction (CD)– Your discussion was above what was required. An exceptional response.
  1. For case analysis, always write with IAAR approach i.e. Identifying, analyzing, with alternatives and effective and well justified recommendations. For audit, IT and Ethics follow WIR approach weakness, implication, and recommendation
  2. Start your answer through identifying type of the company whether it is public, private, CCPC, not for profit and or government organization along with applicability of IFRS or CPA handbook section along with effective dates
  3. Marker will be evaluating the quality of your responses (will look to see if you have grasped the key issues in the case, were able to problem solve, analyze, integrate, prioritize, and finally, communicate effectively).
  • Analysis of last two exam cases

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ADFB4CFE

CPA CFE September 2020 Day 1 exam Canada

How to pass CPA CFE September 2020 Day 1/ Capstone 1

I found that many students are finding difficulty in passing CPA CFE day 1 exam. Even in 2018 & 2019, professionally qualified CA from India and other countries could not get success in passing day 1 exam. Some have approach me to put one course exclusively for Day 1. I provide below in brief some important hints to pass this exam at first attempt.

Day 1 – Evaluating your soft / professional skills (4 hours)

The first day of the CFE is a Pass/Fail mark treated separately and distinctly from Day 2 or 3. You can pass or fail Day 1 regardless of how you do on Day 2 and Day 3. Similarly, if you fail Day 1, you need to re-do, and successfully complete Day 1 regardless of how you did in Day 2 or 3. Day 1 is linked to the Capstone 1 module with the case being directly tied to your Capstone 1 case. You are provided with the original Capstone 1 case (not your solution) and the updated information on your CFE case. Day 1 tests your soft/professional skills, at a senior management level discussion.  You are not expected to discuss accounting or other technical competencies in any great detail but focus on the ‘enabling competencies’.

Capstone 1 case is mainly focusing enabling competencies. Therefore report will focus enabling competencies in depth and technical up to level 1. Enabling competencies are, problems solving and professional judgement, leadership, ethical, communication and etc. (refer CPA competency map). Capstone one case is mainly related with problem solving issue.

  •  Know your Capstone 1 case inside and out ahead of time
  • Broad thinking and integration of case facts
  • Assess the situation and what needs to be done (situation analysis)
  • Analyze the major issues
  • Conclude and provide useful advice (solution)
  • Ensure your communication is clear

Student should focus on big picture, prioritize issues, perform both quantitative and qualitative analysis, use appropriate tools for quantitative analysis, and provide your answer looking into internal and external environment of the company.

Students are required to prepare a report. See the format of report in detail. In situation analysis, provide present environment, assess the situation with tools like, Portal Five forces, PESTAL analysis and SWOT analysis.

In second part analyse various issues, prioritize it, provide financial analysis wherever required, and your recommendation to resolve the issue.

In conclusion, suggest best course of action based on your analysis.

Also ensure that you will watch for the time limit of 4 hours. Do not put more input in situation analysis, major part is main issues significantly affecting the decision, and brief conclusive summary. You can also see my you-tube video…link as below.

https://youtu.be/DfYe8TZZ4Ck

Marker will assess your holistic approach to the case; answers may be more than one.

If anyone need any more information and like to go for coaching for Day 1 and or for full exam, please visit my website www.beyond.coach, cell: 16475056648, email: pcdesai1454@gmail.com. Beyond Accounting Coaching Services…Paresh Desai CPA-CGA, CMA (USA) FCMA(India)

 

 

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