CPA PEP Prep Forum (Unofficial)

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 

Hi,

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

Hi everyone,

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

Thanks.

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? 

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.

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

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

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.

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?

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)

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? 

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

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?

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

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

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? 

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?

Feel free to post questions on Core 1 here. 

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.

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!

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.

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

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?

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

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.

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!

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

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.

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..

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?

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?

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?

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

Exceptions to the laws of demand, what are they?

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? 

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

Is attending the core 1 module mandatory?

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

What happens when a student fails their exams

About the examinations, I know there are the main exams and the mock exams depending on the institution, I am wondering if the main exams are the same thing everywhere or they are maybe categorized into state or province throughout Canada, somebody enlighten me.

why do expenditures in capital increase the assets of a firm while the cash expenditure does not but acts as a liability in form of an expense in the trading profit and loss account?

factors that an auditor should consider in determining whether to use CAATs?  (Computer Assisted Auditing Techniques)

procedures that an auditor should carry out when events or conditions are identified that could cast a significant doubt on the entity's ability to continue as a growing concern?

What is the difference between capital and revenue expenditure?

What are the different types of reserves in financial statements of a company?

Emerging new trends in tax management to avoid the taxpayer escaping to pay tax?

what are the principles of an optimal tax system?

How do you know if a firm is being overtraded, please help.

How does overtrading affect the aspect of financial analysis of a company?

What is the role of the state in financial innovations? Help needed here

I have been having discussions with some friends and also doing some research about CPA in Canada, on my expeditions, I have realized that a strong math background is essential, is this true?

I am currently In the U.S.A and I have been anticipating to enroll online, somebody show me how and what exactly it implicates, thanks!

Are they different? or is an accountant a degree holder while a CPA a Certified Chattered Accountant?

After an attempted core 1 finance paper, I failed. Must I go to school again for another semester and repeat the whole unit again or could I just simply study on my own and just book examinations?

How long does it take to receive results after sitting for each module examination?

I am trying to prepare a final profit and loss account on excel but it seems I have no sufficient knowledge on exactly how to separate the cost of sales sheet with the trial balance itself, anybody here to help me?

I have been studying for a bachelor's of commerce and I have attempted the first module in CPA and failed, I thought that they were somehow related; that is B.Com and CPA, does that mean that CPA tests are more rigid than bachelor's? Should I just throw in the towel on CPA?

Hello, during my day to day research and revision, I came across a post that mentions the key to passing CFE, it says that a student should devote longer working hours on studying previous cases. How valid is this? should I follow this direction since I have already failed on my first test?

One of my work colleagues asked me to add an year to my work experience, this is because I worked for an year on my uncle's firm before completing my final semester, Am I liable to receive any form of credit?

I am in a dilemma between other accountancy courses and CPA, would somebody help me in making the right choice? Or rather enlighten me?

How long does the CPA Professional Education Program take to complete?