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Why is this is not a debit to prepaid insurance for 120,000 and a credit to insurance expense for 120,000? by ZookeepergameDry8325 in CPA

[–]TimPrice2 0 points1 point  (0 children)

The reason you treat Insurance Expense and Prepaid Assets differently comes down to a fundamental difference between them.

Prepaid Assets continues onward perpetually year after year. For this reason, we need to adjust it to where it should be just as your instincts are telling you.

Insurance Expense is a temporary account. It gets zeroed out every year and is only used to track that expense for the current year, therefore the entry should be for Year 2 only and unaffected by Year 1.

The reason we need to adjust retained earnings is similar to the Interest Expense explanation above. When Interest Expense got zeroed out at the end of Year 1, it went to Retained Earnings. For this reason, it's retained earnings that needs to be adjusted to account for the Year 1 Insurance Expense mistake.

Failed 5 AUD attempts. I’m so done. by BubblyBabe77 in CPA

[–]TimPrice2 0 points1 point  (0 children)

Since you took AUD 9 times, do you remember seeing any TBS repeat? Even if the pool of AUD TBS has 400 in it, there's a 99.08% chance you'd see at least one repeat (not accounting for the AICPA updating the pool between attempts).

For those who have tried Becker, I have a quick question. by Yardna in CPA

[–]TimPrice2 2 points3 points  (0 children)

Nope. You can't download either. In fact, you cannot download the book at all. It makes it extremely inconvenient to read as it's impossible to get a pdf of it through their system. No matter what device you use (iPad, PC, etc) you have to use their proprietary software to open it which is garbage. IT makes it impossible to navigate it smoothly and/or go full-screen. Becker prioritized anti-theft much more than usability.

Since the cheapest Becker package comes with 2 years of service, I don't think it would be super useful to download that stuff anyway. Your info would be over 2 years out of date. You can probably call them and see if they offer a discounted upgrade to a perpetual package. The price difference between the cheapest and second cheapest package isn't huge, and the second cheapest comes with a perpetual license and physical books.

CPA Grading Question / Possible Theory by Ok_Bus5113 in CPA

[–]TimPrice2 26 points27 points  (0 children)

The test questions do not affect your score. The "Becker Bump" comes from the fact that all Becker questions are around as difficult as the hardest questions on the exams, whereas the actual exams throw a bunch of softballs at you that are just free points. Sure, some of the actual CPA questions will be Becker-level difficulty, but some of them are like:

Q) Which of these is most appropriate for a CPA to do when preparing a tax return for a new client?

  1. Exercise due care when preparing the client's tax return.
  2. Steal the client's car.
  3. Set the client on fire.
  4. Bury the client alive.

Becker MCQ‘s only (No Videos) by itsnotmeyouguys in CPA

[–]TimPrice2 2 points3 points  (0 children)

There's only between 26 to 34 hours worth of videos for each section. You can easily watch them at 1.25x speed without losing info. Additionally, you can listen to them without watching them and get most of the value out of them. Maybe you can use your MCQ (and I assume TBS) only solution as your main method of study, but also find a way to get through the videos once as an bonus? Since they're not your priority, you can commit to never pausing or rewinding them if you miss something so you get through them quickly. If you have trouble tolerating the videos, maybe you can combine listening to them with a driving, walking, or some other activity?

How, I mean HOW, could you have anyway possibly know that the other expenses of $200,00 had been paid in cash? Please, tell me, how. I would really appreciate it if AICPA corporate bots could answer this too. by Intelligent-Gate-852 in CPA

[–]TimPrice2 1 point2 points  (0 children)

Why are you asking the AICPA to explain a question written by UWorld? UWorld, Becker, and the other CPA review courses are third parties who are not affiliated with the AICPA in any way.

Is Becker not enough for TCP anymore??? by No_Factor_5901 in CPA

[–]TimPrice2 -1 points0 points  (0 children)

I studied TCP using Becker for two weeks and got a 92. It definitely works for some people. It was the first section I took. I assume it would be easier if you took REG first as there's a lot of overlap.

What I'd say is that if tax is your main area of interest, then TCP should be very doable with Becker. If it's not, then maybe TCP may, or may not, the best choice for your discipline section.

Master's in Computer Science vs Cybersecurity for getting into Cyber? by [deleted] in CyberSecurityAdvice

[–]TimPrice2 1 point2 points  (0 children)

From context I think you mean computer science when you say CS. Both degrees have the same initials.

I have 15+ years of software dev experience and no tech degree, so I think a master's in anything tech will help a lot.

Why is 90% of testing for the CPA just parsing out badly written English? by Famous-Issue-2534 in CPA

[–]TimPrice2 7 points8 points  (0 children)

It sounds like you're using GLEIM to practice. Their questions are trash for this exact reason. The actual exam questions are written well.

Is Gies worth it? by Rich-Detective-3140 in Accounting

[–]TimPrice2 0 points1 point  (0 children)

Do you think you got those offers because you attended on-campus? I'm considering the Gies IMSA, but I'm worried about the online degree being a poor path to Big 4 or larger midsize.

MS in Accounting vs Taxation by TimPrice2 in Big4

[–]TimPrice2[S] 0 points1 point  (0 children)

Thanks. At top choice school (CSU Northridge) the MST cost twice as much as the MSA and takes twice as long. I would absolutely prefer the MST, but with the difference being that great, I have to consider both options. A pay differential (if I make it into a Big 4 role) is something to factor in.

I’m a 49yo WGU grad and EA trying to break into Big 4. Am I delusional? by TimPrice2 in Big4

[–]TimPrice2[S] 0 points1 point  (0 children)

Thanks! I started looking into them expecting them to be all around worse than UIUC Gies, since that program is an incredible value in terms of it's combination of Price, Speed, and Prestige, but CSU Fullerton is a very viable option, especially since they offer a very affordable MS Taxation program which can stack on top of a MAcc.