Blog listing - Another71.com

A New Year, A Fresh Start to Passing the CPA Exam

31 Jan 2013 by Andria - Another71

Yolanda is a NINJA CPA Blogger. Hello fellow NINJAs! I hope everyone enjoyed their holidays, however you celebrated them. In our home, we had a very Merry Christmas and a great New Years Eve. I have not written for a while because I was very depressed about my 68 score on BEC. I need to

REG Exam: Hoping My Re-Take Strategy Pays Off

30 Jan 2013 by Andria - Another71

Serena is a NINJA CPA Blogger. Hey NINJAs, Last weekend I re-took REG. I was sure to do a few things differently on test day, and I am hoping they paid off. Last time I almost ran out of time. I had 3 sims left and less than 10 minutes on the clock I think,

FAR Study Continues During an Amazing European Vacation

29 Jan 2013 by Andria - Another71

Jimmy is a NINJA CPA Blogger. Bonjour fellow CPA test takers, I recently returned from a wonderful vacation across Europe with my wife. We both spent a week settling back in by doing laundry, checking e-mails, readjusting to Pacific Standard Time, and getting caught up at work. We both decided to go “off the grid”

New Job, Long Commute, and Studying for the CPA Exam

29 Jan 2013 by Andria - Another71

Tori is a NINJA CPA Blogger. Hey Everyone, I just wanted to take a few minutes and catch you up on my exam prep progress and other goings on. To refresh everyone, I started a temp job as an accounting clerk for a small city 2 days after Christmas. Because I no longer have all

Introducing NINJA CPA Blogger Greg

28 Jan 2013 by Andria - Another71

Greg is a new NINJA CPA Blogger. HiYa! My name is Greg. Let me tell you a little bit about myself. I graduated college with my bachelors in accounting in 2004. Took 6 months off (not by choice) and spent that time going on interviews to try to get my first real job. Six months

Accounting Change

28 Jan 2013 by Jeff Elliott, CPA

An accounting change is a change in (1) an accounting principle, (2) an accounting estimate, or (3) the reporting entity. The correction of an error in previously issued financial statements is not an accounting change. FASB ASC 250-10-20

Financial Accountability

28 Jan 2013 by Jeff Elliott, CPA

Financial Accountability is the obligation to explain one’s actions or to justify what one does. Accountability is one of the primary objectives of financial reporting. It is information about how management discharged its stewardship responsibility to owners or to the citizenry regarding the use of resources entrusted to it. “Accountability requires governments to answer to

Financial Statement Account Balance

28 Jan 2013 by Jeff Elliott, CPA

An account balance is a dollar amount appearing on financial statements. An account balance is a control account composed of many constituent items (e.g., accounts receivable control account represents the sum of all individual accounts receivable, sales represents the sum of hundreds of sales invoices).

Accord and Satisfaction

28 Jan 2013 by Jeff Elliott, CPA

An accord is an agreement between the parties to a contract to permit some different performance to replace the original promised performance. Accord alone does not discharge (end) the contractual obligation; accord and satisfaction (carrying out the accord) discharges the obligation. An accord usually refers to the settlement of a disputed contract.

Data Access Time

28 Jan 2013 by Jeff Elliott, CPA

Data Access Time is the amount of time it takes for a computer or peripheral device to seek out and find data, i.e., the amount of time to retrieve data from memory or storage.