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Hey figured this might gain some traction here instead of the homework thread. I keep on coming up with asset equaling $751,700 (which is correct) but liabilities and owners equity comes to $781,700. The delta is $29,400 which is all the expenses, but expenses don’t show up on a balance sheet, right? Any ideas?    nwin fucked around with this message at 18:06 on Aug 5, 2022 |
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Aug 5, 2022 17:43
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| # ¿ May 10, 2024 14:20 |
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Epi Lepi posted:You would show it either as net loss for the year or just in retained earnings. Idk how your class wants you to present it. Gotcha thanks-since there were no sales/revenue it would count as a loss and be in owners equity. Thanks!
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Aug 5, 2022 18:31
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Do you all take CMA’s seriously? Like is it worthwhile to get? This would be someone with a finance/accounting background but not a cpa.
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Oct 24, 2022 02:58
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Regarding the cpa…how can I guarantee I meet the eligibility? I got my bachelors in 2005 which was an accounting degree. Fast forward to 2019 where I got an MBA and masters in finance. I think I meet all the requirements but is there a way to verify through some committee?
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Jul 12, 2023 21:03
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I’m about to make a grave mistake. I’m in the military where I actually teach financial/managerial accounting at our service academy. I got a bachelors in accounting 20 years ago and I’m three years from retirement. I also picked up an MBA and master of science in finance while I’ve been in. I’m trying to see what’s next in my life and stumbled upon getting my cpa. I’ve got the requisite education and experience to sit for the exams. The military will pay for all 4 exams and I’m trying to figure out a way to get them to pay for prep materials (ninja, Becker, etc) as well. I figure the job market needs accountants now so having a cpa wouldn’t be horrible and would ensure job security doing a few different things. Not sure id do income taxes, but that’s what I liked doing back in undergrad…when I was single with no kids. Now the new requirements allow me to take all 4 exams within 30 months so I think that’s entirely doable while working full-time. Questions: Reddit says a ton about “oh take this test now (AUD) because the test is changing in 2024”, but it seems like tests change every so many years anyways. -Is there any test I need to make sure I get out of the way before x date because new rules are going to make it way more complicated? -what order would you recommend I take them? -what prep materials do you suggest/why? I can do some studying at work when I’m not teaching, but other than that it will be first thing in the morning for an hour and another hour at night…see how that goes for a bit. Ok tell me I’m stupid.
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Jul 19, 2023 02:58
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Good to know about Gleim. I’ve been told to take AUD or BEC if I can before January when new versions roll out. I guess AUD won’t cover as many topics but will be more in depth whereas BEC is completely changing. My work will reimburse me but only once I have the cpa certificate so I’d rather not dole out $2k right away.
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Jul 24, 2023 23:19
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At a weird transition/not sure what to do or look at, but here goes. I got a bachelors in accounting back in 2005. While in college I worked as a junior accountant, doing payroll and the books for a bunch of small companies. Graduated-worked for 6 months in AR and then joined the military. Did nothing with accounting for 13 years and then. The military sent me to get an MBA and MSF. Spent 3 years working in budgeting and execution of one year funding for $250 million, and now for my final job in the military I teach financial accounting, managerial accounting, finance, and federal budgeting classes to undergrads. I also manage our small budget of $250k. My work has bought me the books for cpa prep and I struggle to find the time to blast through MCQ’s and correctly prep for any of the exams. My busy work schedule plus 2 young kids at home make it difficult. I can retire from this job in 2 years and have a pension, meaning I’ll need to find a job making $90k per year to be commensurate with current pay. The con is being an instructor for my lady tour is a kinda weak bullet point on my resume. Second option is to get the job as comptroller in 2 years and stick around for a while. That’s a huge boost to my resume I would think, plus an extra $20k in my annual pension, meaning I only need $70k in my post-retirement job to by commensurate with current pay. On top of all this is the cpa exam-do I need it or will it not be worth the squeeze? I don’t plan on wanting to do taxes or anything. I also don’t want to work 60+ hours a week and I want remote work to be an option. Where am I going with all this? 1) what accounting jobs, if any, would you recommend that don’t require a CPA but would allow for partial remote work? What pay could I expect? 2) is a cpa worth it if I don’t want to do taxes or be a cfo somewhere? I realize I may be off base with some of these questions, but appreciate any suggestions!
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Feb 18, 2024 04:16
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