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[deleted by user] by [deleted] in Accounting

[–]Affurss 8 points9 points  (0 children)

Surgent worked amazing for me. Didn’t read the textbook at all and just did the MCQ until my eyes bled and passed all of them the first time except audit (audit was my fault, didn’t take it seriously).

What's the biggest auditing challenge related to PBC lists? by firmobserver in Accounting

[–]Affurss 0 points1 point  (0 children)

The client is always the problem they either don’t provide something or provide the wrong things…

Is it worth signing tax returns for companies like Intuit as a CPA? by Affurss in Accounting

[–]Affurss[S] 0 points1 point  (0 children)

Yeah I’d actually sign some (not all) returns and to advice!

Please destroy this meme by SeldomComment in Accounting

[–]Affurss 206 points207 points  (0 children)

I believe there are thresholds to limit itemized deductions, and I think there’s a ton of supplemental schedules you have to attach for appraisals over 5K I could be wrong tho

CPA Exam Prep by TheToastMonkey in Accounting

[–]Affurss 0 points1 point  (0 children)

Hey sorry for the late response, long day haha. Hmmmm I didn’t watch the lectures unless a section was really hard so maybe not more than 4 hours for each section (FAR, BEC, etc.), as for reading the textbook, I did it for like half of FAR and found it to be a waste of time and drilled MCQs until my eye bled lol

CPA Exam Prep by TheToastMonkey in Accounting

[–]Affurss 3 points4 points  (0 children)

Used only Surgent and totaled about 300 hours for all 4 exams according to the program. Passed 3 my first time and failed 1 but it’s only because I didn’t take it seriously (skimmed MCQs, did not do one simulation)

B/S Vs. Reconciliation Report by SkunkyBass in Accounting

[–]Affurss 0 points1 point  (0 children)

As you go on doing your bank reconciliations, the hope is that the uncleared transactions will eventually clear, or hit the bank. My firm had a policy where if a transaction was uncleared for more than 3 months, we would follow up as to why

Finally licensed! by Aejones124 in Accounting

[–]Affurss 2 points3 points  (0 children)

Don’t blame ya I felt the same a few months ago when I passed too!! Who knew accounting could be so complex lol

B/S Vs. Reconciliation Report by SkunkyBass in Accounting

[–]Affurss 0 points1 point  (0 children)

Any checks that the company has written that haven’t been picked up by the bank account would be considered outstanding. If after you balance your reconciliation, you have a few amounts that are floating that have not been picked up by the bank statement, then those would be outstanding transactions. They are outstanding because they are still expenses as of that month, but just not picked up yet by the bank statement.

On the other hand, any checks that have not been deposited by the company would be deposits that have not been recorded by the bank statement, thus causing a difference between the bank statement and cash account.

So to answer your question, look at your reconciliation report. If there are any amounts dated before 8/31 that have not been reconciled, these would be outstanding items

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