Tag: CPA

My CPA Exam Story: Making Sacrifices for the End Goal

Dory Pluger started studying for the CPA Exam in September 2016, and successfully completed all four parts on the first try* by August 2017 using Becker’s Self-Study CPA Review, as well as CPA Exam Final Review. She took the sections in the following order: REG, AUD, FAR, BEC. She shares more of...


Proposed Ethics Interpretation - Knowing Misrepresentations in the Preparation and Presentation of Information

AICPA Members in business may be involved in the preparation and presentation of information for use both internally and externally to an employing organization. This includes financial and non-financial information, such as performance reports, budgets, forecasts, tax returns, and more. Members who...


Closing the Tax Gap after Tax Reform

Administering and enforcing the tax code is no small task. In 2017, the IRS processed 245 million tax returns, collected $3.4 trillion in taxes, and issued refunds to over 120 million households.  So, how will the Tax Cuts and Jobs Act impact the IRS’s tax administrative duties,...


My CPA Exam Story: Exercise Was Key to Focus

Derek Almich graduated from Minnesota State University in Mankato, Minn., in December 2016 with a degree in accounting and corporate finance. He used Becker’s Self Study CPA Exam Review Format to prepare for the CPA Exam, typically studying for two months before each exam with a little more time...


Time Management Tips for the CPA Exam

The CPA Exam uses a multistage testing format. If you do well on one testlet, the next testlet will be harder, so time management is key. Here are some tips to keep you on task when you sit for the exam: Move Quickly Through the First Testlet The first testlet is at a level of moderate difficulty....


Managing Stress on the CPA Exam

There is no denying that studying for the CPA Exam is an inherently stressful experience. One cannot completely eliminate that stress, and it probably wouldn’t be a good idea to do so because stress can be a motivator, but you don’t want the time you spend studying to be the worst experience of...


The Latest Independence Impairment Concern – Hosting Your Client’s Data

The AICPA Code of Professional Conduct “Independence Rule” Section 1.295.143 relates to Hosting Services.  Under this newest rule, a CPA’s independence is impaired when taking responsibility for hosting an attest client’s data or records (whether hard copy or electronic).  This action is...


How Tax Reform Has Impacted Foreign Operations

Most U.S. corporations conduct their foreign business operations through foreign subsidiaries. When a foreign subsidiary is owned more than 50 percent by U.S. shareholders, it’s considered a controlled foreign corporation (CFC). If a U.S. corporation controls a foreign corporation in a low-tax...


How to Get the Most Out of Your CPA Exam Review

The CPA Exam Review is a challenge. Trust me, I know. I’m working through the course right now and I understand the dedication it takes and the frustration it can sometimes bring. But not to worry—if I can do it, you can do it. You just need to figure out what works best for you and develop your...


CPA Exam Day Tips for Success

It’s no secret that preparing for the CPA Exam can be intense. Here are a few final tips for CPA candidates straight from our Becker experts.Read more


Tax Reform-A Mixed Bag for Multinationals

When the Times Square Ball dropped on New Year’s Eve and the lights at the bottom of the poll illuminated ‘2018,’ it marked the beginning of a whole new tax system for U.S. multinationals. Our worldwide tax system was instantly replaced with a territorial system. Capital export neutrality was...


Private Entities Should Explore Using a GAAP Alternative to Prepare Financial Statements

The Financial Reporting Framework for Small- and Medium-Sized EntitiesTM (FRF for SME’s) was created by the AICPA in 2013.  The intent was to give owner-managed, privately-held businesses a GAAP alternative that would cost-effectively produce relevant, yet simplified, financial statements for the...


NASBA Announces New Gateway System & National Candidate Database

NASBA announced that starting at 12:00 am CST on Monday, March 5, 2018, they will launch a new version of their Gateway System and National Candidate Database. According to NASBA, “These new systems will greatly improve your overall experience with additional user-friendly functionality and...


Tax Reform and the New International Provisions

The Tax Cuts and Jobs Act made significant changes to the rules governing international taxation. Most provisions are focused on making U.S. companies more competitive abroad and bringing more investment to the United States, but the new legislation also attempts to crack down on base erosion and...


The New Deduction for “Pass –Through” Businesses

The Tax Cuts and Jobs Act enacted Code Section 199A which provides a   20% deduction for businesses. However the deduction is not always 20%, and not every business qualifies. This article explores the key elements of this new provision. Overview The deduction for years beginning after 2017 is...


Tax Reform and the OECD BEPS Project

OECD BEPS project is a global tax reform initiative that’s revising the fundamentals of the international tax rules. The goal is to reduce base erosion and profit shifting (BEPS) across the world. Over 100 countries are participating in the project, making it the biggest global tax reform...


Results of PCAOB’s Latest Staff Inspection Brief on Audits of Issuers

The PCAOB prepares Staff Inspection Briefs to assist auditors, audit committees, investors, and preparers in understanding the results of inspections of issuer audits.  The following highlight some of the more significant findings from the 2016 inspection cycle, which were the result of examining...


Tax Reform and Policy Objectives

The Thanksgiving season is upon us, and many Americans are hopeful they’ll soon be giving thanks for a “simpler and fairer” tax code. But is that an achievable goal? Generally speaking, tax systems are evaluated against three leading concepts—efficiency, fairness, and simplicity. Efficiency...


COSO’s New Enterprise Risk Management Framework

In June 2017, the Committee of Sponsoring Organizations (COSO)released Enterprise Risk Management – Integrating with Strategy and Performance (ERM), which is an updated version of Enterprise Risk Management – Integrated Framework (2004).  Every decision made in pursuit of an organization’s...


Tax Reform and the Individual

When the personal income tax was signed into law in 1913, a mere half percent of the population filed an individual tax return. Today, nearly half the population files an individual tax return, and the personal income tax represents the largest source of revenue for the federal government. According...