CPA PEP Prep Q&A

General forum about everything related to CPA exams


Picture of Kristina  Rados
CFE files
by Kristina Rados Send a message - 10 Sep 2019, 6:04 PM
 

Hi guys,


Does anyone know after we write CFE , where and how the files get uploaded? the only one that i know is Candidate Portal. 

 plz email me on tina5ti@hotmail.com

Thx 

 
Picture of Henry Zawadzki
Exam Timer - Surpass
by Henry Zawadzki Send a message - 9 Sep 2019, 4:09 PM
 

Hi,

Does anyone know if there is a timer in Surpass like was available in securexam? Or will a clock be posted during the CFE?

Thank you,

Henry

 
Picture of Kristina  Rados
Secure Exam ISSUE (plz help)
by Kristina Rados Send a message - 9 Sep 2019, 1:41 PM
 

Hi guys,


i was performing system check in secure exam , and my screen is frozen on the third tab "Microphone".How do i exit? , so i can continue with the exam ...Please help....


Regards,

Kristina .. Email tina5ti@hotmail.com

 
Picture of dorela alushaj
Secure Client software
by dorela alushaj Send a message - 8 Sep 2019, 4:35 PM
 
I have noticed that Secure Client software has an added feature of highlighting in red the misspelled words. I have noticed that while i am doing practice exams. Am I correct?

 
Picture of Rahulkumar Patel
CPA Handbooks for IFRS
by Rahulkumar Patel Send a message - 5 Sep 2019, 1:17 AM
 
Dear Friends,

Greetings,

Please advise how can access to CPA Handbook as a student.
If i am not wrong than it is available free to student.

If it is not free than please advise for best available resources. It will be great help.

Thanks in advance
CA Rahul Patel

 
Picture of Kristina  Rados
IFRS 16
by Kristina Rados Send a message - 2 Sep 2019, 7:30 PM
 

Hi,


does anyone have any examples and solutions for IFRS 16 ( Leases) ? If so, can you plz share it with the group. Thx

pls, email me at; tina5ti@hotmail.com


Regards,

Kristina


 
Picture of Elham Khanlarkhani
case to practice IFRS 16
by Elham Khanlarkhani Send a message - 24 Aug 2019, 12:50 PM
 
Hi,

can anyone share a case either Day 2 or 3 that has IFRS 16 and 15? I don't have any case for this topics to practice. I would really appreciate if you could share it with me.
 
Picture of Jenny Dunn
Tax - Assignment question - bond income inheritance
by Jenny Dunn Send a message - 22 Aug 2019, 5:39 PM
 

Hi guys, 

I am taking Tax 1 online and have been stuck on the last assignment for weeks.
One of the questions I still cannot figure out is calculating the fed tax payable for a taxpayer for this item:  The taxpayer's 9 year old daughter (who is disabled and qualifies for the DTC) earns an ...

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(224 words)
Picture of Eazhisaivallabi Saravanan
Solution for Marmani Case
by Eazhisaivallabi Saravanan Send a message - 19 Aug 2019, 4:14 PM
 

Hi

Can you share solution for Marmani case, if anyone has the same?


My email id : eazhisaivallabi@yahoo.co.in

 
Picture of MANINDER SINGH
Marmani Inc. case guide/solution
by MANINDER SINGH Send a message - 9 Aug 2019, 10:13 PM
 

Hi,

Can someone send me capstone case (Marmani Inc.) 2019 guide/solution.

My email id is: manijeji@gmail.com

Thank you in advance.

 
Picture of Ravi Singh
Week 3 and 6 case of HEVW case
by Ravi Singh Send a message - 6 Aug 2019, 8:45 PM
 

Hi,

I am looking for HEVW Week 3 and Week 6 day case alongwith the solution. Can someone send the case and solution to me at ravikarir@gmail.com

Thanks 

Ravi

 
Picture of Hyun Jin Chang
Technical question: Non-Monetary transaction
by Hyun Jin Chang Send a message - 3 Aug 2019, 12:39 PM
 

Hello,

Just wanted to ask if below would be technically correct under IFRS.

Case triggers non-monetary transaction issue for land exchange - giving up downtown land in exchange for industrial land for plant. 

Both costs of asset given up / received are given.

Only estimated fair value are provided ...

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(138 words)
 
Picture of Erika McMaster
CFE Day 1 Repeat
by Erika McMaster Send a message - 24 Jul 2019, 9:36 PM
 

Hi Everyone,

I am a repeat writer for CFE in September 2019 (from 2017), and was hoping that someone could send me the HEVW Capstone 1 case (Day 1) and capstone 2 practice cases along with solutions and any other materials that you have from last year. I really need them to practice!

My email is: erikamc645@gmail.com

Thank you!

Erika


 
Picture of Pradnya Karambelkar
Core 2 Topics and study buddy
by Pradnya Karambelkar Send a message - 24 Jul 2019, 9:04 AM
 

Hello, 

I'm going to write the core 2 exam this December and was wondering if anyone would be able to provide me with chapters or table of contents to study for. Please email at pkarambelkar20@gmail.com.

As well as if you are looking for a study groups, you can add me for Core 2.

Many thanks,

Pradnya

 
Picture of Pradnya Karambelkar
Core 1 Exam
by Pradnya Karambelkar Send a message - 30 Jun 2019, 6:13 PM
 

Hello, 

I have done core 1 exam last summer, and was redoing this summer, since last summer there were ebooks but this summer they have introduced knotia - online ebooks, I'm not sure if the table of contents we followed in the past is the same or changed. Some of the content is changed. Although, if the reading material is same or if there are new addition.

If there is someone enrolled in core 1 this summer could you share with me the table of content. Please contact me on pkarambelkar20@gmail.com.

Many thanks,

 
Picture of Dilshad Ali
Core-1 Quiz
by Dilshad Ali Send a message - 17 Jun 2019, 7:41 PM
 
Which one of the following statements regarding the audit of related party transactions is incorrect?
Select one:
1. When the auditor assesses inherent risk as low and the auditor's risk assessment does not include an expectation of the operating effectiveness of controls, the auditor is not ...
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(170 words)
 
Picture of Sourav Roy
Looking for study partner
by Sourav Roy Send a message - 16 Jun 2019, 1:26 AM
 
Hi, 

I am looking for core 1 study partner. 

Please email me if anyone interested 

sourav_souravroy@yahoo.com 

 
Picture of Lalita Sirnaik
Indian CA
by Lalita Sirnaik Send a message - 29 May 2019, 11:30 AM
 

Hi

This is Lalita Sirnaik. I am an Indian CA appearing for CFE in 2019. Can you please add me to the group. My no is 647-388-6372.


Thanks.




 
Picture of Katerina Bacoyiannis
CFE 2019 - CAPSTONE 1 CASE AND MAERIALS
by Katerina Bacoyiannis Send a message - 23 May 2019, 9:15 AM
 

Hi

I am A repeat writer for CFE in September 2019, can somebody send me the 2019 Capstone case (Day 1) - solutions and any other materials would also be greatly appreciated. 

My email id: bacoyiannisk@gmail.com

Thank you in advance


Katerina


 
Picture of Vivian Wu
Capstone 2 2018 Practical Solutions - Assurance & Tax
by Vivian Wu Send a message - 20 May 2019, 5:04 PM
 

If anyone has Capstone 2 2018 Practical Solutions - Assurance & Tax, please share it with us here please!

Deeply appreciated!!


 
Picture of Muhammad Ashraf
Core 1 Challenge exam
by Muhammad Ashraf Send a message - 7 May 2019, 1:06 PM
 

Hi, I am looking for materials for the Core 1 Challenge exam? 

 
Picture of Muhammad Kashif
Capstone 1 case
by Muhammad Kashif Send a message - 22 Apr 2019, 6:35 AM
 

Hi

I am first time writer for CFE in September 2019, can anyone send me copy of case for capstone 1 for first time writer in September 2019.

My email id: kashifaca@gmail.com

Regards

 
Picture of Rachel Ye
2019 CFE - repeat writer
by Rachel Ye Send a message - 2 Apr 2019, 11:11 AM
 

Hi,

I am a repeat writer for 2019 CFE, I am wondering if I could opt for 2018 capstone case for 2019 Day1? 

If so, if anyone could send me a copy of 2018 Day 1 case? Thank you very much!

my email is yerachel85@hotmail.com

 
Picture of Yukiko Hoshino
case #18 - Journal entries of Leasehold improvement
by Yukiko Hoshino Send a message - 30 Mar 2019, 2:23 PM
 
I understand that recognizing acquisition of leasehold improvement $84,205 as income, is incorrect accounting treatment, but I have no idea what account should be credited.

Dr. Leasehold improvement (adding to capital assets)  $84,205
    Cr. ???


Please help me understand this.  

Thanks.
Yuki

 
Picture of Suzie L
HST on Event Meal, eligible 13% ITC or 6.5% ITC
by Suzie L Send a message - 4 Mar 2019, 11:02 PM
 

Hi Everyone,

I understand that there are exception for 50% deductible limit for meal and entertainment, i.e. when meals are paid for Christmas party, it's 100% deductible.

But how about the HST Input Tax Credit?

Is it deductible at 13% rate, or subject to 50% rate and only 6.5% eligible for ITC?


Thank you,

Suzie

 
Picture of Beenish Zeeshan
Learning eBooks and Handbooks
by Beenish Zeeshan Send a message - 24 Feb 2019, 12:04 PM
 

Hi,

Has anyone downloaded Learning eBooks and Handbooks from CPA Canada website?


Thanks,


Beenish

 
Picture of Mufaddal Lokhandwala
CFE SEPT 2019
by Mufaddal Lokhandwala Send a message - 20 Feb 2019, 7:59 AM
 

I am a Chartered Acocuntant from India and I just registered with Prep formula and would be giving my CFE in Sept2019. Any feedback on how should i start will me much appreciated


Thanks Mufaddal

 
Picture of goldingroup cpas
CPA Firms
by goldingroup cpas Send a message - 12 Feb 2019, 3:39 AM
 

How to Become a CPA in MD?

 
Picture of marion  warkotsch
Core 2 exam
by marion warkotsch Send a message - 30 Nov 2018, 8:51 PM
 

Taking the core 2 exam in three weeks, any thoughts and or suggestions?

 
Picture of Nayay deep  Sharma
Indian CA
by Nayay deep Sharma Send a message - 30 Nov 2018, 10:26 AM
 

Hello Everyone,

I am seeking help on how should i start my 2019 preparation. I am Indian CA and would be appearing for CFE 2019


Looking forward to hear from you.

Thanks

Nayay

 
Picture of Xinyi Hou
Core 1/Core 2/Assurance Preparation
by Xinyi Hou Send a message - 30 Oct 2018, 11:04 PM
 

I am taking 2018 fall Core 1 currently, and I am planning to take 2018 winter Core 2, and 2019 Spring Assurance. If someone on this forum has recently used Prepformula to prepare for and pass Core 1/Core 2/Assurance. Could you please contact me at xinyi_hou@hotmail.com?

 
Picture of Andre Brewster
Core 1 Preparation
by Andre Brewster Send a message - 17 Oct 2018, 6:18 AM
 

If someone on this forum has recently used prepformula to prepare for and pass core 1 could you please contact me at andre.brewster@sympatico.ca.

Thanks

 
Picture of Carissa Fernandes
IFRS 15 Ques
by Carissa Fernandes Send a message - 9 Sep 2018, 5:23 PM
 
Question: A company entered into a contract on 1 January 20X5 to build a factory. The total contract revenue was $2.8 million. At 31 December 20X5 the contract was certified as 35% complete. Costs incurred during the year were $740,000 and costs to complete are estimated at $1.4 million. $700,000 has been billed to the customer but not yet paid.

Any one know how to record the JEs ?
 
Picture of Shahjahan  Ahmed
CAPSTONE-2
by Shahjahan Ahmed Send a message - 11 Aug 2018, 4:37 PM
 
Do we have to submit at least 75% of cases in order to be qualified? what if we can't make it? 
I would appreciate your response on it.

Thanks
 
Picture of Ruby Hayat
Case writing format for CFE Day 2
by Ruby Hayat Send a message - 11 Aug 2018, 3:33 PM
 

Does anyone know of a case writing format for CFE Day 2? If yes, please share. Thanks

 
Picture of Mike Mirabelli
IFRS 15 and IAS18
by Mike Mirabelli Send a message - 6 Aug 2018, 2:03 PM
 

Hi there,

I know that IFRS 15 is testable and likely will be tested in the CFE this year. Is IFRS 15 a straight replacement of IAS 18 or is IAS 18 still applicable ? Should I not bother reviewing IAS 18 at all?

Thanks

Tags:
 
Picture of Ronil Chandra
Current Capstone 2 Cases
by Ronil Chandra Send a message - 3 Aug 2018, 1:43 AM
 

Hi,


I would really appreciate if someone could email me the current capstone 2 cases, debriefs and solutions. My email address is: ronikaprasad26@gmail.com

Thanks,

Ron

 
Picture of Irene Yang
Capstone 2 Cases
by Irene Yang Send a message - 31 Jul 2018, 7:43 AM
 

Hi,

I am writing Day 2 & 3 this year. If anyone has current year capstone 2 cases, debrief, answers. Can you please share them to me? My email is yiwen.irene.yang@gmail.com. 

Thank you so much in advance!



 
Picture of Ahmad Durrani
Capstone 2 Cases
by Ahmad Durrani Send a message - 29 Jul 2018, 2:32 PM
 

Hi Everyone

If anyone has current year capstone 2 cases, debrief, answers for the current year can they kindly send them to me. I will be very thankful to you My email is khan.durrani@gmail.com.

Thank you so much in advance!


 
Picture of Stephanie Rash
Current year Capstone 2 Cases
by Stephanie Rash Send a message - 29 Jul 2018, 12:30 PM
 

Hello!

If anyone has those capstone 2 cases, debrief, answers for the current year can they pretty please send me them as well? My email is Stephanie.Rash@outlook.com.

Thank you so much in advance!

Steph


 
Picture of John Malenica
Capstone 2 Cases
by John Malenica Send a message - 25 Jul 2018, 2:24 PM
 

Hi,

Can anyone send me this years capstone 2 cases / zipfile? If you can reply to this and I'll message you my email.

Thanks,

John


 
Picture of Michael Virlas
Securexam ---> Word/Excel
by Michael Virlas Send a message - 23 Jul 2018, 1:38 PM
 

Hello,

How does one convert a completed Securexam practice case into Word/Excel format? I wrote the CFE last year and I remember there were a couple steps involved but I can't remember now. 

Please and thank you. 

 
Picture of Ronil Chandra
Capstone 2 FVT Case-Fair View Theatres Inc.
by Ronil Chandra Send a message - 19 Jul 2018, 2:29 AM
 

Hi All,


I am writing the FVT case in Sep 2018 and was wondering if someone has the 3 FVT cases which is in Capstone 2 including the walkthroughs, debriefs and solution (3 additional practice case for FVT which are in the workshop, Week 3 and Week 6) and would like to share it with me.

My email address is: ronikaprasad26@gmail.com

Appreciate if someone could help me on this.


Thanks,

Ron

 
Picture of Shahjahan  Ahmed
Capstone-1 and CFE Day
by Shahjahan Ahmed Send a message - 10 Jul 2018, 2:09 PM
 

Hi There,

I am planning to focus on day-1 to pass in this year and I would appreciate if you have any suggestions to prepare for day-1 exam.

Don't know Capstone-1 case is sufficient enough or not.

Looking forward to hear your expert advise.

Thanks,

Shah

 
Picture of Mike Mirabelli
CFE practice cases -day 2 and 3
by Mike Mirabelli Send a message - 9 Jul 2018, 8:35 PM
 

Hi there,

I am a repeat writer not taking Cap 2 and wondering if anyone has additional practice cases relevant to CFE (>2015).

Thanks

Mike Mirabelli

mikemirabelli6@hotmail.com

 
Picture of Nadun Paranatala
CPA core 1 exam (passed writers)
by Nadun Paranatala Send a message - 23 Jun 2018, 9:52 PM
 

Hello, 

I have the core 1 exam coming up in few days. I am looking for any tips and tricks in writing this exam and studying for it

Any help would be greatly appreciated!! 


Thank you 

Nadun 

 
Picture of Rajbir D
Assurance Elective Exam (passed writers)
by Rajbir D Send a message - 23 Jun 2018, 2:47 PM
 

To whom have already written the Assurance Elective exam as part of the CPA PEP process... could someone bridge the gap on some common themes you found were tested and how different the 2 cases provided were? For example, were some topics tested on both cases or were both cases individually very different that there was no overlap of topics/ discussions etc

Anything that surprised you when doing the actual exam? Like time management issues and any other recommendations you may want future writers to be aware of. Thanks

 
Picture of Lalit Mohan
CFE Day 1
by Lalit Mohan Send a message - 20 Jun 2018, 9:32 PM
 

Hello 

I am a repeat writer for CFE Day 1 and was wondering what material will be provided by CPA to repeat writers if looking to challenge FVT case. I did not do the FVT case in 2017 so I do have any of the sample cases from capstone 2 and is my first time attempting FVT case. 

Thanks 

Lalit 

 
Picture of Ahmad Durrani
2017 Capstone 2 Cases
by Ahmad Durrani Send a message - 5 Jun 2018, 6:24 AM
 

Hi,

Can anyone tell me where and how can I get 2017 Capstone 2 cases for practice? Thank you.

 
Picture of KAMALDEEP KAUR  GRANG
Capstone 1 Case for 2018
by KAMALDEEP KAUR GRANG Send a message - 30 May 2018, 4:14 PM
 

Hi everyone,

I have directly enrolled in Capstone 2 for 2018, so does anyone have the Capstone 1 case for 2018.

Thanks.

 
Picture of Abeer Khalid
Switching Role
by Abeer Khalid Send a message - 17 Apr 2018, 11:24 PM
 

Hi

I am a repeat CFE writer. Previously my role on Day 2 was assurance, however, since I do not have much audit experience I am planning to switch my in-depth elective to Tax. 

Is this a good idea? 

 
Picture of Shevon Jeremiah
Time off for CFE Exam
by Shevon Jeremiah Send a message - 21 Mar 2018, 9:30 AM
 

Hi, 

I would like to know how many weeks etc...is a general study period for sitting the CFE exam. I am advised that the old CA program candidates took a month off to study.

Thanks for your feedback.

 
Picture of Yuen-Sun Vincent Kwok
Practical Experience Requirement Time Limit?
by Yuen-Sun Vincent Kwok Send a message - 1 Feb 2018, 6:42 PM
 

Hello,

I recently registered for CPA PEP. I understand that the CPA PEP and CFE needs to be completed within 6 Years. However, i couldn't find any information in regards to the time limit of the 30 months CPA practical experience requirements. Is there a time limit for CPA for the 30 months requirement? If so, does the clock start ticking when i start CPA PEP?


Thanks,

Vincent

 
Picture of Luke Li
CPA PDPA (Post Designation Public Accounting bridge module)
by Luke Li Send a message - 16 Jan 2018, 4:00 PM
 

Hi,

I'm looking at the newest CPA PDPA (Post Designation Public Accounting bridge module), I wonder how hard is that exam (4.5 hours - 60 multiple choice questions and 1 case) .

I passed CFE (via assurance elective) awhile ago, but I passed the core via Management Accounting "C", as opposed to ...

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(111 words)
 
Picture of Jerrica Pasco
International Students
by Jerrica Pasco Send a message - 12 Jan 2018, 12:56 AM
 

It would beneficial to have a study guide and webinar for international students to bridge the gap. 

 
Picture of John Efe
IS THERE A JOB MARKET FOR ACAF PROGRAM
by John Efe Send a message - 20 Nov 2017, 9:10 AM
 

Hi

Would you advise an international graduate of accounting to enroll for ACAF program or CPA PEP considering the high fee for CPA PEP, and is there presently a job market for ACAF holders?

Please share your experience and your advice would be highly appreciated.

Thank you.


 
Picture of Mohsin Parvaiz
Secure Exam
by Mohsin Parvaiz Send a message - 16 Jul 2017, 7:40 PM
 

Hi 

When I open Secure exam on my laptop, it states that "We have determined that your system is a 64 bit OS, therefore your computer will log out at the end of your exam. Before proceeding, exit all open applications."

My laptop just restarts when I exit my exam. Is that a thing to worry about? Should I install a 32-bit OS?

 
Picture of Mohsin Parvaiz
CPA Canada Online learning Brightspace D2L
by Mohsin Parvaiz Send a message - 16 Jul 2017, 4:34 PM
 

Is there anyone who is giving the CFE directly without sitting for the capstones?

If yes, do you have access to the D2L? Because I registered for the CFE directly and I can't seem to have access (need to access CPA Canada handbook)

 
Picture of Gigi Huang
Did anyone found assurance quiz very difficult?
by Gigi Huang Send a message - 24 Jun 2017, 10:46 PM
 

At University, we never do any multiple choice questions on assurance, it was only focused on case writing.

 so I found the quiz is really difficult to understand. The sentences are very long and difficult to follow compared to a case. 

I tried the first 3 quizzes and none of them got more than 50%...

I wonder how similar are the MCQ for audit in Core 1 compared to the practice quiz? 


 
Picture of Mary Salib
DCL case (Dash computing)- day 2 case (
by Mary Salib Send a message - 27 Jun 2017, 11:22 AM
 

Hi, I'm working on this CFE day 2 case, but had a question regarding the warranty provision. Is anyone familiar with this case, please get back to me


 
Picture of Amardeep Atwal
Stock Option Deduction under Sec 110(1)(d)
by Amardeep Atwal Send a message - 24 Jun 2017, 12:19 PM
 

Can someone confirm that division C deduction under section 110(1)(d) or 110(1)(d.1) related to stock option is only available if the option is not-in-money when granted?

 
Picture of Pheba Varghese
Assurance
by Pheba Varghese Send a message - 3 May 2017, 10:43 AM
 

Can the auditor of the parent company act as the auditor of one of the subsidiary company too? 

 
Picture of Marina Morozova
Quiz 4, Financial Reporting Q#14, Typo?
by Marina Morozova Send a message - 3 Apr 2017, 1:05 AM
 

Hello.

Please verify the solution to this question.

As per solution we should subtract a residual value of $50000. Should it be $150000?

Thank you,

Marina

Taylor Inc. leased a cutting and stuffing machine for its furniture manufacturing plant effective April 1, 2014. The lease qualifies as a finance...

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(387 words)
 
Picture of PrepFormula Admin
March 2017 CPA Ontario PEP exams - share experience
by PrepFormula Admin Send a message - 6 Apr 2017, 2:54 PM
 

Please share your experience with these exams. Unexpected questions, most difficult topics, etc.

 
Picture of Marina Morozova
Financial reporting EPS calculation
by Marina Morozova Send a message - 31 Mar 2017, 11:49 PM
 

Hello,

I am confused.

Below is the copy of the question 19 from Quiz#1 in the Financial Reporting module.

I always thought, that If preferred shares are cumulative, then dividends should be subtracted from a numerator. Why not here? Redeemable options allow to buy shares back, but why would it ...

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(239 words)
 
Picture of Pheba Varghese
Tax treatment for accounting, legal costs incurred on Issuing debt & shares
by Pheba Varghese Send a message - 31 Mar 2017, 1:07 PM
 

While computing the business income, what is the allowable deduction for accounting, legal costs incurred on Issuing debt & shares? I understand that 1/5th of the expense is allowed as deduction. Am I right? 

 
Picture of Marina Morozova
IAS 28 Inv in Associates and Joint Ventures. Quiz.
by Marina Morozova Send a message - 27 Mar 2017, 11:32 PM
 

Hello,

Sunny Inc. is a joint venture formed on January 1, 2013 by Palm Ltd. and Voice Corp. Palm transferred land with a net carrying value of $750,000 and a fair value of $1,875,000 to Sunny in return for a 40% interest in Sunny and cash consideration of $375,000. Voice contributed cash of ...

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(189 words)
 
Picture of hae chul park
calculating taxable income
by hae chul park Send a message - 26 Mar 2017, 12:31 PM
 
Hi

I am confused about calculating taxable income when receive eligible dividends. When can I takeout the amount of receiving eligible dividends or not? ex) connected or not-connected corporation

Thank

Jay 

 
 
Picture of Stefan Chen
How to find related handbook
by Stefan Chen Send a message - 10 Mar 2017, 1:43 AM
 

Hello,

 I am little struggle for accounting issues for case writing. For example, I felt that there may be a issue here. But I don't know which section I need to look. It is impossible for me to read each section under time pressure of the exam.How do I use handbook in the case writing under time pressure? How do I study each section of book?

 
Picture of X W
Core 1
by X W Send a message - 8 Mar 2017, 2:25 AM
 

Feel free to post questions on Core 1 here. 

 
Picture of Lawrence Tan
Quiz 3 Question 19 - Inventory cost
by Lawrence Tan Send a message - 8 Mar 2017, 1:14 AM
 
Taylor Inc. is a public company which manufactures clothes. Taylor purchased 10,000 sheets of fabric in varying colours for use in its production. Each sheet of silk costs $5.45 to purchase plus shipping costs of 10%. The supplier is located in Toronto and import duties on the silk are 4% of the ...
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(273 words)
 
Picture of Lawrence Tan
Quiz 3 Question 16 - Inventory Valuation
by Lawrence Tan Send a message - 8 Mar 2017, 12:57 AM
 

Can someone please tell me if something is not right in the office answer in this question?

A public company, Taylor Inc. has in stock 10,000 identical copies of the latest CD by recording artist Trey Scott. Since its release earlier this year, these CDs have cost an average cost of $7.50 each. ...
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(320 words)
 
Picture of Lawrence Tan
Comprehensive Tax Review Webinar
by Lawrence Tan Send a message - 5 Mar 2017, 5:11 PM
 

I hope this will encourage any one's questions to be posted here so anyone who can answer those questions will be able to help.

 
Picture of Jennifer McDonald
Webinar: ASPE Review - Inventory
by Jennifer McDonald Send a message - 25 Feb 2017, 2:21 PM
 

The comparison to IFRS slide for inventory, states "interest costs under IFRS are always attributable, whereas under ASPE they are not". Does this mean that interest under IFRS is always capitalized, whereas under ASPE it is not.

However on an earlier slide, borrowing costs are capitalized. 

Can you please clarify the difference in interest costs for inventory between IFRS and ASPE.

Thank you!


 
Picture of Lawrence Tan
Compare and contrast CFE Day 1, Day 2, and Day 3 cases
by Lawrence Tan Send a message - 6 Feb 2017, 1:03 PM
 

Hi to those who have a clear understanding of the various cases in CFE Day 1, Day 2, and Day 3 exam:

What are the relevant similarities and differences among these 3 CFE Day case exams? Thank you.


CFE Day 1, 2, and 3 cases
CFE Day 1 case CFE Day 2 case CFE Day 3 case
Similarities:
Differences:


 
Picture of Lawrence Tan
ASPE Section 3400 Revenue Quiz
by Lawrence Tan Send a message - 5 Feb 2017, 8:35 PM
 
Trey Scott provides consulting services to firms quoting a usual daily rate of $1,200 for a six-hour training session. As part of an agreement with SUN, at a contract price of $1,600, he has agreed to provide five one-day training sessions to employees in various locations, as well as a weekly ...
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(330 words)
 
Picture of Lawrence Tan
Asset Retirement Obligation Quiz
by Lawrence Tan Send a message - 5 Feb 2017, 5:54 PM
 
Taylor Corporation acquired property on January 1, 2014 at a cost of $5,000,000 that is operated as a landfill. Taylor has estimated the fair value of the asset retirement obligation to meet environmental remediation legislation to be $4,000,000 which has been determined using a credit-adjusted ...
Read the rest of this topic
(284 words)
 
Picture of Lawrence Tan
Not For Profit Organization Financial Reporting Review Webina
by Lawrence Tan Send a message - 5 Feb 2017, 1:57 PM
 
Hi, Just want to ask anyone who knows if there are also accounting policy choices for intangible assets held by small organizations to expense an intangible asset acquired and just follow the disclosure requirements? The reason I asked is because under the tangible capital asset section 4431, ...Read the rest of this topic
(95 words)
 
Picture of Stephanie Rash
Webinar: Canadian Auditing Standards (CAS) Assurance Review
by Stephanie Rash Send a message - 4 Feb 2017, 3:59 PM
 
Good Afternoon Everyone! I thought that I would start a discussion on the Webinar that we just had on the CAS review. We can talk about any questions or clarifications we wanted to ask if anyone is interested? Cheers! Steph 



 
Picture of Sarah Kevol
Calculating deferred taxes- Future income tax vs Taxes payable method
by Sarah Kevol Send a message - 3 Oct 2016, 11:19 PM
 

Hi,

Where can I find a quick reference on how to calculate corporate taxes payable and their presentation over either method(FIT vs Taxes payable method).

Thank you,

Sarah

 
Picture of PrepFormula Admin
URGENT: Capstone 1 – CHEI Debrief Webinar
by PrepFormula Admin Send a message - 28 Jan 2016, 2:20 PM
 

Are you in Capstone 1? Are you in the process of going through the Canada Heavy Engineering Incorporated (CHEI) case? Please attend this webinar to get a 2 hour walkthrough of the CHEI case and receive a copy of annotated PDF notes for illustrative purposes. Full Webinar + CHEI Debriefing ...

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After getting a fail in my core 2 module, what happens next?
by Joy Mulii Send a message - 27 Jan 2016, 2:17 AM
 
I need to know what happens if I fail on my final paper and how to handle such.
 
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Exactly when does the Law of demand become exempted?
by Joy Mulii Send a message - 27 Jan 2016, 2:14 AM
 
While studying economics, the first law to learn is demand is equals to supply, but then there are those instances when this law has been exempted, how does this happen?
 
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Is CPA Canada an affiliate of IFAC?
by Douglas Justo Send a message - 27 Jan 2016, 2:06 AM
 

IFAC (International Federation of accountants) is an international global body that monitors and sets standards and policies for accountants globally, does CPA Canada stand with this body or is a solo body?

 
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After completing CPA Canada, Am I eligible to work internationally?
by Douglas Justo Send a message - 27 Jan 2016, 2:01 AM
 

My curiosity has led me to ask the question. Is the CPA Canada profession recognized internationally?

 
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The IMF and its Key roles?
by Douglas Justo Send a message - 27 Jan 2016, 1:58 AM
 

Hi guys, I am currently working on some economics revision and would like to have a discussion with you, I came across a question whereby I am expected to explain and describe what the IMF is and what role it plays, the question has a lot of marks at stake, and my answers are not that much.

 
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What exactly is Prep formula?
by Marvin Gikaru Send a message - 27 Jan 2016, 1:51 AM
 

Hello members, I would like to know what prep formula is and how does it help me in preparation of CPA Canad examination, would appreciate as much info as possible. Thanks!

 
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How to get study material from this website?
by Marvin Gikaru Send a message - 27 Jan 2016, 1:38 AM
 

Hello members, I recently joined this platform and would like to get directions on where exactly to find study resources on this site, thankyou!

 
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Key notes on policies to prevent tax evasion?
by Marvin Gikaru Send a message - 27 Jan 2016, 1:34 AM
 

Tax evasion has always been one of the main problem that a state faces, many businesses are trying their best to evade paying tax. As a modern CPA Canada student, define scenarios and solutions you find applicable.

 
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Examinations exemption policies, what do I need to know?
by Marvin Gikaru Send a message - 27 Jan 2016, 1:29 AM
 

I realised that each state has its different policies as to regards consequences of failure in examinations, I am new to CPA Canada, I have no experience in exactly what happens next, I would be grateful if you helped me out..

 
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In Financial accounting, what is overtrading?
by Marvin Gikaru Send a message - 27 Jan 2016, 1:25 AM
 

I recently came across a question in a past paper that asked what is overtrading and how it affects a firm, can anyone help me with the right answer please?

 
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ICT and emerging trends
by Joy Mulii Send a message - 26 Jan 2016, 10:12 AM
 

As time passes by, technological advances are being made in efforts to offload the accountants of more duties, with the current pace of technology, is accountancy becoming an extinct profession?

 
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Emerging Trends
by Joy Mulii Send a message - 26 Jan 2016, 10:09 AM
 

Well, I thought that its about time we get to discuss lately what has been happening to the Financial Markets and how they affect the CPA world. Recently head chair of CPA Kevin Dancey revealed that there were errors in CBC reports and urged CPA as a body to take action. Is this the right way to handle such?

 
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Economics
by Benjamin Osean Send a message - 26 Jan 2016, 9:58 AM
 

Whats the role of the international Monetary Fund (IMF) in developing countries

 
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Economics
by Benjamin Osean Send a message - 26 Jan 2016, 9:56 AM
 

Exceptions to the laws of demand, what are they?

 
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Credit creation in Economics
by Benjamin Osean Send a message - 26 Jan 2016, 9:55 AM
 

I just came across a question about credit creation, first, I am supposed to define what it is then give factors that limit the effectiveness of credit creation by commercial banks, anyone online to help me out? 

 
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ICT, information systems
by Angela Hernandez Send a message - 25 Jan 2016, 3:41 AM
 

Can somebody help me out with examples of information systems? I read the question on a recent CPA ICT paper..

 
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CPA examinations
by Angela Hernandez Send a message - 25 Jan 2016, 3:36 AM
 

Is attending the core 1 module mandatory?

 
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CPA Examinations
by Angela Hernandez Send a message - 25 Jan 2016, 3:34 AM
 

Will there be Main CPA Exams after the core and elective modules stages?

 
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CPA Main Examinations
by Angela Hernandez Send a message - 25 Jan 2016, 3:31 AM
 

What happens when a student fails their exams