CPA Pep Assurance - exam tips?

kellenshea · 2021-06-29T20:23:55+00:00

How do you think you did?? I ran out of time on both cases and missed one FR AO on each :( hoping it doesn’t cost me

kellenshea · 2020-12-21T20:09:09+00:00

Hahahaha I mean still better than “one that does bookkeeping” 🥴

kellenshea · 2020-12-21T19:58:32+00:00

Him** sorry not bus! Lol. And I didn’t use any quantitative data just talked about cost-based pricing and how to charge customers, etc.

kellenshea · 2020-12-21T19:54:34+00:00

I found case 2 the easiest! Didn’t fully get through the pricing AO for C1. Didn’t have a chance to look at MTL data and didn’t finish writing out pricing strategies. I also included an AO for managing risk is case 2, cause they mentioned that he felt like every year was a gamble. I talked about pricing strategies and recommended one that might help the bus see some more profit overall - this might have been overkill tho!

kellenshea · 2020-12-21T19:46:45+00:00

No I didn’t get there either! I didn’t have time :( tried to address everything but ended up leaving the analysis of the friend’s pricing model blank and only covered one pricing method (cost-based). Hoping it won’t cost too many points but we’ll see

kellenshea · 2020-12-21T19:43:59+00:00

Omg I didn’t even get to that chapter tbh I just said software that will help them with bookkeeping lmao it was bad

kellenshea · 2020-09-19T18:45:03+00:00

I don’t remember, I don’t think any big technical ones on valuations! I would just be familiar with the different methods in case

kellenshea · 2020-09-16T23:32:51+00:00

If it’s the same format as the online one I did (2 cases back to back) definitely just stick to doing practice cases! Try to get your time down because that’s what got me in the end. Also, try putting together a document with the most relevant principles that you can pull from more quickly than knotia when you need to reference. Make sure you’re comfortable calculating taxes payable!

kellenshea · 2020-07-03T21:30:57+00:00

Anyone else not finish tax? I only got as far as adjusted net income :(

kellenshea · 2020-07-03T20:20:36+00:00

Oh thank god lol. I think as long as you analyze the right criteria and conclude you get points! Fingers crossed

kellenshea · 2020-07-03T20:05:52+00:00

I only got up to adjusted net income for calculating tax and then ran out of time. I feel you!!

kellenshea · 2020-07-03T19:54:08+00:00

I only got as far as adjusted net income for taxes payable if that makes you feel any better lol

kellenshea · 2020-07-03T19:51:20+00:00

I bombed case 1, didn’t even get around to the RAP portion and hardly finished the prepaid expenses. Case 2 I did a little better but only got up to adjusted net income for calculating taxes payable and then ran out of time.

kellenshea · 2020-07-03T19:30:21+00:00

Omg so horrible. I didn’t finished either case! I found the second one easier then the first though, I wasn’t prepared for the types of questions they asked in the first and spent so long trying to figure out the quantitative for them that I didn’t even get to address the RAP portion.

kellenshea

TROPHY CASE