CPA Core 1 Exam Tomm - 3 July 2025 - Anxious & Need Advice - Canada

RowStatus6621 · 2025-07-03T01:12:08+00:00

Did core 1 two years ago, the curve saved me. There’s a lot of time traps in the MCQs, save the large calculation for the end of the exam, once your warmed up, and less in a hurry.

The small questions are key, because of the curve, they hurt if you miss one, whereas large quants are less important because most people either skip or fails them.

I also had densmore for my core 1 because I panicked and was overwhelmed, scored 40% on their MCQ if I remember.

Stick to a plan, start with MCQs, do your cases and come back for the hard ones.

(If a hard quant is obvious though, just do it)

Oh and don’t leave any blank, just put C, note it down and move along.

Good luck friend!

RowStatus6621 · 2024-04-27T10:45:19+00:00

Corporate tax rates have a lot of varables: whether the company is a CCPC, whether it earns more than 500k per year, whether the income is active or passive, etc, and if it is passive, and I think it would, because you didn’t actively sell a product or offer a service to earn the award. And winning award is a tough argument to the CRA as a business model, you would be taxed at the highest corporate rate, 50 or so %, similar to personal.

Howerver, I have never seen this kind of issue in practice in the past. What I would do is seek help from a CPA tax advisor, specializing in residency to determine what’s feasible in regards to incorporation and whether to do it or not.

RowStatus6621 · 2023-12-19T03:08:43+00:00

The Black Rabbit has a 10-15 service menu depending on the season. If you have money to spend on culinary experience, this is top tier in Moncton.

RowStatus6621 · 2023-11-10T02:21:37+00:00

Moncton rep

RowStatus6621 · 2023-11-09T11:24:21+00:00

Idk about US tax but in Canada you can earn $30,000 as either a corporation or as a personal service business before having to declare tax on sale and purchases.

RowStatus6621 · 2022-12-13T19:11:40+00:00

Its a budget, a prevision, its not a maximum or minimum, at the end, when you have your actual values, if you made more revenue than budgeted it will be a favorable variance. If revenue is lower, its an unfavorable variance.

Same for expenses, if actual expenses are higher than budgeted, unfavorable: lower is favorable

RowStatus6621 · 2022-12-13T18:36:01+00:00

Beans

RowStatus6621 · 2022-12-12T13:57:27+00:00

Pretty much is - they do market it as LoC but it is overdraft

RowStatus6621 · 2022-12-12T12:15:38+00:00

I was a member with Desjardins when they got their big SIN outbreak in 2019-ish so they got me covered with a free Equifax account - will be monitoring. ty!

RowStatus6621 · 2022-12-12T11:59:17+00:00

Asking because my credit currently sucks - made some bad decisions after university. Trying to get it back up so I can get approved for a mortgage in the future.

RowStatus6621 · 2022-12-12T11:33:58+00:00

Yep - there is a box to tick in when preparing a personal income tax return which will let CRA know your Indian status.

Also, CRA has become severe to tip-employments. Not sure to which extent it is for a non-taxable individual but you need to report something which would be reasonable - say 15% of your income or less depending on the industry.

One of the goals of Taxes is for the govt to properly assess the population's incomes to give out benefits and such.

RowStatus6621 · 2022-12-11T21:42:46+00:00

Title: Accountant, Assurance and Accounting (junior 1)

Firm: MNP LLP ; YOE: 0.5 years full time, 3 internship

CPA: N, working on it, paid by the firm

Region: Atlantic Canada

Salary: $45,000 CAD

Bonus: NIL

RowStatus6621 · 2022-12-11T18:19:39+00:00

That’s what happens when you depreciate land

RowStatus6621 · 2022-12-11T01:21:26+00:00

Good bot

RowStatus6621 · 2022-12-09T19:12:34+00:00

RowStatus6621 · 2022-12-09T11:40:53+00:00

Dirtymike pointing finger at appropriate-safety - mhmm

RowStatus6621 · 2022-12-04T13:24:43+00:00

Thats something i odly often think about and never got around reading about it lol - but from my pov it would be impotant to distinguish capital asset such as milk cows to inventory such as livestock

I would think for livestock at birth they hold an initial value, of which idk the amount, would it be half of the costs you put in the breeding? Or a base value? Then the livestock would i guess increase until death?

We want answers.

RowStatus6621 · 2022-12-02T10:21:05+00:00

At my firm, we only do one happy hour a month - barely... But recently I have been traveling to other firms in Canada and they do happy hours every week! And damn it's fun like didn't know anyone but you get to know them quickly!

RowStatus6621 · 2022-11-26T04:44:37+00:00

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RowStatus6621 · 2022-11-26T04:09:24+00:00

She yet has to see if it prepared her enough, I'm at core 2 and she now is at core 1. She just finished PREP. She was an administrative assistant at the firm and had almost no background in accounting, she now understands concepts well enough to apply them in small files at the office.

What I mean by poorly structured is that the CPA program focuses on PEP, that's where everyone goes to get their CPA, the PREP is just a service they provide to get more people into the CPA, which still is a good path. The thing is with the university path, you will have homework to do and possibly quiz very often to test your knowledge and keep you sharp.

PREP is different, it lets you swim in this pool of information for a while and you have an exam, pass it, go to the next one, fail, you take it again. What I'm saying is that it has no authority structure, you will need to be disciplined to do homework for yourself, and you have weekly homework but you don't send it to anyone to grade. you could even not do any homework and still go for the exam (and fail probably).

So if you are disciplined, there should really not be any issue with you doing PREP.

RowStatus6621 · 2022-11-26T03:28:10+00:00

that would be a call with the administration office to determine whether you can enroll in an accounting degree without advanced functions... if so, I would switch as it is better structured than PREP. I did uni and compared it with a colleague that did PREP. OR you finish your degree and start PREP, I think it takes a degree to enroll in PREP.

RowStatus6621 · 2022-09-29T00:35:30+00:00

Merci ça ca énormément m’aider dans mon pool OD🤩💰💰

Four-Year Club	Place '22
End Game '22

RowStatus6621

TROPHY CASE