I will take a test soon.

Hi, I haven't visited my blog site.

However, I am ready to take FAR exam on 11/28.
I will do my best.

Some of friends of mine who are studying CPA exam also take an exam.
Good luck!

Undergoing FAR

These days, I did not post in this blog. I concentrated on my Japaneses blog. I will take FAR exam on Nov. 12th. I noticed various hurdle to pass FAR exam.

1. I should increase knowledge of FAR.
My knowledge is not enough. Solve MC and simulations, check text book and write it down on my notebook. It is nothing particular, but Practice makes Perfect.

2. To be positive!!
It is necessary to trust myself and think I will pass! Mental control pushes myself.

On the way

I haven't posted in this blog for a while. I am engaged in solving CPA questions. Unfortunately, I cannot make a progress so much. Understandings help me to capture the concepts of financial topics. The other day, I found it more comfortable to check financial statements' accounts when I study. I will show you one example. I am studying about the impairment. (It means the value of an asset is declined rapidly.) In this case, losses of impairment has occur ed. Then, I check it in the income statement. "A-ha, I found it!" This is the other expenses and losses item!

The relations of financial topics are very important. There are more or less 50 topics, I think. On top of that, FAR is including Government Accounting. That accesses more complicating!

I feel understanding

I study FAR almost everyday. In the beginning, I struggled with questions. Now, I feel more comfortable than before, because I feel I got more understanding. It takes time to understand the contents. I solve a question, read an explanation, and read my textbook.

On the other hand, I need more comprehensive knowledge of FAR. Practise makes perfect.

Keep on doing!

Everyday, I solve multiple questions of CPA. Time goes by, I feel my understanding is deeper. That stimulates me to study harder.

I enjoy high technology. The other day, I wrote about capitalization of interest, and I didn't know why it is occurred in my Japanese blog. In no time, a friend of mine answered back from Japan. Quick!! I was really surprised.

It is an useful way to write accounting rules in a blog. This is because it is practise of writing communication, and also check my understanding.

Just do it!

I like this word- Just do it. It is so simple & clear. Passmaster (Becker CPA material) has about 1,500 questions and simulation questions. I think, "Wow, there are 1,500 questions! Do I finish them?" After that I have in my mind, "Just do it!"

Writing this post, I am thinking how to success to get 75 in FAR. When I complete the 90% score in Passmaster, I can pass. In order to get 90%, what should I do? The answer is practise and review.

On the other hand, I try to imagine my future goal about CPA. When I feel exciting and challenging, my motivation should be higher level.

Writing in English

This place is practise of writing for me. This is because Japanese are quite different from English. The position of verbs, objects are usually opposite and words are also not the same.

In order to acquire second language skill, I use every opportunity to seem effective. I sometime think I can share ideas and feelings much more with others if I have more command of English.

I am studying FAR right now. I have many things to understand. My way of studying is to keep writing down what I did not know, and then review it again & again.

My ideal of this blog is to deliver useful financial/accounting information. I keep on writing as much as possible to achieve this.

I passed BEC exam!

I passed BEC exam the other day. In fact, a friend of mine, nn left congratulation message before this posting. I am very glad without saying. A lot of people around me say, "Congratulation. You did a good job!"

In my analysis why I could pass, I tried most of questions of the material could solve perfectly. When I made mistakes, I wrote down these points on my notebook. And I reviewed over & over even in lunch time. Keeping on doing it, I felt myself, my preparation was nearly done before taking exam.

On the other hand, I need to prepare for next FAR exam. Of course I keep on writing my mistakes down on my notebook.

Breakdown

I am struggling for learning FAR (Financial Reporting) in CPA. I have a lot of things to understand. Sometimes, I feel each of them is complicate. It is no use just to say "complicate". To push myself, I do breakdown the difficulties. I said to myself, "What is the key to come up the answer?" Then reading explanation & textbooks, I understand how to solve. I feel my pace of learning is slow. But, I cannot make progress without understanding the contents.

Never give up!

"Never give up!". This words are what I often listen from starting CPA study. We candidates need time to study in order to pass the exam. Even in lunch time, I sometimes study. Of course, I want to go out and spend a hot day.

Why do I want to become a CPA? Do I want to just get big money and big status? Surely, in my mind, I occupy these things. But, accounting is a measure of money matter. If we know accounting, we can live a happier life regarding money. In daily life, we know what part should be saving. We estimate how much do we earn to live an ideal life. Accounting is a basis of these matters.

The more understanding accounting, the more I can study. Continue.

Comprehensive income concept

Comprehensive income is the change in equity of business during a period from transactions and other events from non-owner sources. That is the FASB framework.

In the real, comprehensive income is the total of net income, pension minimum liability adjustments, unrealized gains and losses, foreign currency items, and effective portion cash flow hedges.

Japan weights on net income, but gradually focuses on comprehensive income.

Financial Accounting (2)

Accounting changes & Prior Period Adjustments

• Estimate Changes... Current & Subsequent I/S will be affected

• Principle Changes (GAAP to GAAP)... Restate prior period FS (if comparative FS)/ Restate RE (if not comparative FS) & Cumulative Effect should be shown

• Entity Changes... Restate prior period FS only

• Error Collection (non GAAP to GAAP etc.) ... Restate prior period FS (if comparative FS)/ Restate RE (if not comparative FS)

*GAAP means Generally Accepted Accounting Principles

This is one of the complication of financial matter. It is necessary to keep memorize it correctly.

Records

"Recognition is the process of recording an item in the financial statements of an entity." It is one of the important definition of accounting. I like this words, because accumulation of recording (information) is useful for predictions.

As I write it down in my blog, I am an accountant. These days, I am analysing company's financial statements, then I suggest the strategy. At least over 3 year's F/S's are helpful for analysing. Financial statements have bunch of material information, about not only numbers but also footnotes.

Anyway, I started a new CPA class. I need to understand bunch of information. I hope the less information, the better in this case...

Financial Accounting (1)

I can start the class of financial accounting in May 30. I found this topic has quite contents, therefore, I need to capture the structure.

1. Income Statement
2. Balance Sheet
3. Cash flows Statement
4. Governmental Accounting
5. Nongovernmental Accounting

This is the most simplest structure. I would like to discuss it specifically afterward.

BEC Section

I just have done the BEC section exam. Generally, it wasn't so difficult for me. But, the pass rate doesn't change probably. It means that it doesn't matter how difficult the exam is or not. The point is that weather I am in the 40% upper group or not. I hope I am in this group.

I sometimes feel this CPA exam is very tricky. It is like I study for the exam, not for becoming a CPA. AICPA doesn't permit to tell the content of exam. So I cannot comment it specifically. But I hope people reading this blog understand my intention.

Tomorrow is a CPA exam

Tomorrow, I take a BEC (business) CPA exam. Generally, this test doesn't have so much info, so we will met questions that never seen before. The other day, I looked a comment this section was straight forward in CPA net site. But it might not true to my turn. I do prepare for the exam as much as I can, then I take it to pass. It is said that the rate of pass is about 40%. I would like to enter this group anyway!

Greeting

Hi, my name is kiki8795. I came from Japan to become a CPA. I am now working at a financial company as an accountant.

The reasons why I make this blog are 1) to improve my English, 2) to give & take information on accounting & CPA, and 3) to know the responses from my blog.

I plan to take a CPA exam on May 25. Wow, I don't have much time to prepare! I am struggling with PassMaster (Becker CPA material). Today, I've done with 1st Simulated test, and the result was 88. I need to review the mistaken questions.

You can comment my English is bad. But I'm glad you correct my English.