In January 2020, the following new concepts will be testable on the CPA Exam:
Regulation (REG) Updates
Bankruptcy Code Updates (R8 Modules 1 and 2)
On April 1 every third year after 1998, certain dollar amounts under the Bankruptcy Code are adjusted for inflation based on the Consumer...
by Hannah Kohut
You may have a spreadsheet that computes profit from a new product as a function of units sold. A colleague asks how many units need to be sold for the product to break even. You frantically change the value in the units sold cell until profit equals 0. If you have ever faced a similar situation in...
by Wayne Winston
In September 2019, the IRS released tax gap estimates for the years 2011-2013. The recent IRS estimates show that there hasn’t been a significant change in compliance rates relative to past estimates calculated by the IRS.
The IRS estimates the tax gap from time to time to determine compliance...
by Tara Fisher
The Public Company Accounting Oversight Board (PCAOB) started requiring financial statement auditors of large accelerated public company filers to include “critical audit matters” in audit reports for fiscal years ending on or after June 30, 2019. All other nonexempt filers will begin including...
by Jennifer Louis
In accounting, your career could go in many different
directions, but most of your choices will fall under tax or audit. So which
track is right for you?
It really is all about the right fit – which one better
accommodates your lifestyle and career goals? What’s going to make you happy?...
Lecture, notes, flashcards, MCQs, repeat. As you complete the seemingly
endless cycle of preparing for the CPA Exam, you may experience feelings of
exhaustion, frustration and even self-doubt. Remember: you can do this! Here’s
the story of Kristen Cournane, a Becker student who overcame these...
by Bria Wright
The Senate recently approved four tax treaties with U.S. trading partners. The tax protocols with Japan, Luxembourg, Spain and Switzerland update existing treaty provisions with these countries and contain important articles aimed at providing certainty to U.S. persons doing business abroad.
In September, the IRS issued Revenue Procedure 2019-38 which finalizes the section 199A real estate safe harbor. Although much of the proposed safe harbor is contained in the final version, there are some important differences. This article analyses the final safe harbor rules.
by John Stevko
In September 2019, FASB released a revised exposure draft related to a proposed accounting standard update for simplifying the classification of debt in a classified balance sheet. The new deadline for further comment is October 28, 2019. The FASB originally issued a proposed update back in 2017....
In 2016 Excel added many new charts, including the Waterfall chart. Waterfall Charts are great for telling the story of how a quantity of interest (for example, cash position) changes over time. Waterfall charts also allow the finance professional to chart for a single point in time how a quantity...
So, you’ve decided to start your CPA journey? You made a
great choice! The next step is to determine whether you’ll prepare for the exam
alone or with help from a CPA review provider.
Here are key considerations that should be top of mind as
you decide on your study plan.
Save Time and...
The CPA Exam is a challenge, but with the right preparation and
planning, there is no doubt you can be successful. To help ensure your success,
it’s vital that you choose the review course that best fits your learning style
and personal preferences.
There are a number of CPA Exam review...
by Kaitlyn Kapp
At the latest Beta Alpha Psi (BAP) annual meeting, Becker
instructor Mike Brown presented the importance of emotional intelligence (EQ) in
professional accounting. Emotional intelligence is the capacity for recognizing
our own feelings and those of others, and managing emotions well in ourselves...
Treemap charts, also known as mosaic charts, and Sunburst charts
were added to Excel to help you visualize hierarchical data. Hierarchical data
is a way to organize data with multiple one-to-many relationships. The
structure is based on the rule that one parent can have many children, but
Statements on Auditing Standards No. 137, The Auditor’s
Responsibilities Relating to Other Information Included in Annual Reports,
was issued in July 2019. It is codified
under AU-C Section 720 of the AICPA Professional Standards.
The standard applies only to a single document or...
is often associated with long vacations, lazy days, and afternoons by the pool
sipping lemonade. This summer, however, has been anything but relaxing for the
folks working at the Treasury Department and IRS. These organizations continue
to issue the necessary guidance related to the...
The Statement on Auditing Standards No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, was issued in July 2019. It is codified under AU-C Section 703 in the AICPA Professional Standards.
The standard addresses the auditor’s...
Excel has three dimensions: rows, columns and worksheets. Most of us are familiar with how to use the powerful and indispensable Copy command to “copy” a formula across columns and down rows. In this article, we explore three tricks that can help you work across worksheets.
The legal marijuana industry is growing – and fast! As of
2019, 11 U.S. states and Washington, DC, have legalized marijuana for
recreational use. The number of states that allow medicinal use of the drug is also
steadily growing. As the legal marijuana industry grows, there is also a
Meet the Firms is an accounting-specific career fair that features representatives from various accounting, finance and CPA review firms. Attending a Meet the Firms event can be a crucial step in advancing your future career. You will get the opportunity to network with accounting professionals,...
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