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Business & Finance Accounting

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TAYLOR! said:
So the interview didn't go so well... They started asking me actual accounting questions i.e. What journal entries would be required to write off accounts receivable, a bad debt, how would you increase the allowance for bad debts?? etc etc.

Anyway, I should know all this stuff but I haven't actually been doing financial accounting for 6 months, I'm only doing one accountng unit this semester and it's more to do with analysing financial statements and stock price etc.

They had to keep prompting me so I don't think I will get the job. In fact if I do get the job I think I will judge them...;)

The sad thing is I was doing alot better than normal, being friendly and not too nervous etc... But the other interviews I have been too asked no actual practical accounting questions so for my next one I guess I'll just have to study a bit more...
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Thats very unusual though. Maybe if you were able to answer those questions they were going to hire you on the spot?
Between me and 2 other mates for Grad Jobs and Vac jobs we have probably been to about 15 interviews and never did they ask anything specific about accounting
 
I know, it's always team work and leadership and how you handle different situations not actual accounting ability. oh well. I will contnue to apply and hopefully get one starting next year :)
 
TAYLOR! said:
So the interview didn't go so well... They started asking me actual accounting questions i.e. What journal entries would be required to write off accounts receivable, a bad debt, how would you increase the allowance for bad debts?? etc etc.

Anyway, I should know all this stuff but I haven't actually been doing financial accounting for 6 months, I'm only doing one accountng unit this semester and it's more to do with analysing financial statements and stock price etc.

They had to keep prompting me so I don't think I will get the job. In fact if I do get the job I think I will judge them...;)

The sad thing is I was doing alot better than normal, being friendly and not too nervous etc... But the other interviews I have been too asked no actual practical accounting questions so for my next one I guess I'll just have to study a bit more...
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I wouldn't stress about it too much ... I'm a CA and moved to London 4 months ago and am still looking for work! I had an interview this morning and I thought it went terribly but the feedback from my recruiter was really positive. I think interviews can be like exams, quite often we've done ok when we think we've done terribly.

Despite the interview going well I think I might try something new while I'm overseas, I'm here to try new things so I'm going to have a look at a few different jobs. I come from a smaller firm tax background and just want a change from that, I'm thinking something in property or travel.
 
Just a quick question for any CPA's on the board but can I ask how difficult the exams are? I know it's a pretty difficult question to answer but I have exams in a week or so and at this point I've concluded I'm probably stuffed :( Reading through two folders while working full time probably represents an over estimation of my capabilities sadly.

So yeah, any chance anyone can provide any advice on whether I should expect to be time stressed or if it's more technical issues...or even what I should do for a mad revising period this last week.

Cheers in advance.
 

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Cynic said:
Just a quick question for any CPA's on the board but can I ask how difficult the exams are? I know it's a pretty difficult question to answer but I have exams in a week or so and at this point I've concluded I'm probably stuffed :( Reading through two folders while working full time probably represents an over estimation of my capabilities sadly.

So yeah, any chance anyone can provide any advice on whether I should expect to be time stressed or if it's more technical issues...or even what I should do for a mad revising period this last week.

Cheers in advance.
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What subject/s? 2 subjects is pretty full on with full time work.

I usually read thru the folder once, highlight any key concepts/ideas/theories/authors etc (anything really that can be broken down into a few words that might pop up in an exam question), put them into a spreadsheet for each module and then sort them by alphabetical order with a page # next to them, using it an index for the exam.

Then in this last week I just go thru the folder again, making sure I can answer most/all of the example questions, and sample questions from the website.

The exams are pretty full on in regards to the time they give you per question, so you if you dont know the answer to a specific question, dont stuff around, leave it and go back to it at the end if you have time. I have completed 2 subjects so far and havent finished either exam.

I am doing Ethics & Governance next week and it is boring at bat shit.
 
Aussie Assault said:
What subject/s? 2 subjects is pretty full on with full time work.

I usually read thru the folder once, highlight any key concepts/ideas/theories/authors etc (anything really that can be broken down into a few words that might pop up in an exam question), put them into a spreadsheet for each module and then sort them by alphabetical order with a page # next to them, using it an index for the exam.

Then in this last week I just go thru the folder again, making sure I can answer most/all of the example questions, and sample questions from the website.

The exams are pretty full on in regards to the time they give you per question, so you if you dont know the answer to a specific question, dont stuff around, leave it and go back to it at the end if you have time. I have completed 2 subjects so far and havent finished either exam.

I am doing Ethics & Governance next week and it is boring at bat shit.
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Strategic Management Accounting & Financial Reporting :/

Bit worried now that you've mentioned it's unlikely I'll have time to finish the exam, means that looking up the answers is probably not likely to be an option I guess :(

Are prior year exams available for CPA subjects and do you know if the exams tend to be similar from year to year?

:Edit: Also are the online self assessment questions worthwhile?
 
Financial Reporting was fine. I did that during 1st semester this year but that was always going to be my favourite subject out of the lot so I enjoyed it. Wasn't too difficult and time will be against you but you should be fine if you do the written part first and multiple choice afterwards.

Same as AA, doing Ethics & Governance and it is boring, not as boring as I thought it would be though. Interesting reading about how companies/individuals try and cheat the system. The subject has no numbers though, just words. My worst nightmare.

EDIT: 99% sure past exams aren't available.
 
AUSSIE GUN said:
Financial Reporting was fine. I did that during 1st semester this year but that was always going to be my favourite subject out of the lot so I enjoyed it. Wasn't too difficult and time will be against you but you should be fine if you do the written part first and multiple choice afterwards.

Same as AA, doing Ethics & Governance and it is boring, not as boring as I thought it would be though. Interesting reading about how companies/individuals try and cheat the system. The subject has no numbers though, just words. My worst nightmare.

EDIT: 99% sure past exams aren't available.
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Least with words you can't get 80% of a problem right and then have one +/- the wrong way round. Damn you realised/unrealised profits after tax :mad:

So do you generally have time to look through your materials? Or should you just answer to the best of your ability and move on?

What's the failure rate like if anyone knows? Not that I'm sure I want to know -.-
 
Aussie Assault said:
What subject/s? 2 subjects is pretty full on with full time work.

I usually read thru the folder once, highlight any key concepts/ideas/theories/authors etc (anything really that can be broken down into a few words that might pop up in an exam question), put them into a spreadsheet for each module and then sort them by alphabetical order with a page # next to them, using it an index for the exam.

Then in this last week I just go thru the folder again, making sure I can answer most/all of the example questions, and sample questions from the website.

The exams are pretty full on in regards to the time they give you per question, so you if you dont know the answer to a specific question, dont stuff around, leave it and go back to it at the end if you have time. I have completed 2 subjects so far and havent finished either exam.

I am doing Ethics & Governance next week and it is boring at bat shit.
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That's great advice mate. Never actually thought of doing it that way.

I'm doing Ethics & Governance also, really can't be bothered the reading is extremely painful. I'm hoping the exam will be alright but I still haven't read the last two chapters.

I did Financial Reporting last semester and I didn't find the exam too difficult it was just that you don't have enough time to finish. I found that the multiple choice questions were almost asked in order. As in the first say 8 questions were chapter 1, then the few questions were chapter 2 and so forth.

Good luck with your exams.

I'll be a little bit more prepared this time to manage my time more wisely.


 
Cynic said:
Least with words you can't get 80% of a problem right and then have one +/- the wrong way round. Damn you realised/unrealised profits after tax :mad:

So do you generally have time to look through your materials? Or should you just answer to the best of your ability and move on?

What's the failure rate like if anyone knows? Not that I'm sure I want to know -.-
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Failure rate is generally between 25% and 30%.

You do have a little bit of time to look through but you must be precise with where you look.

Time management is the key.
 
Cynic said:
Also any suggestions on any other information/lists I should prepare and take into the exams for Fin Reporting or SMA?
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For Financial Reporting I took in all the practise multiple choice questions and answer sheets and they were a bit useful and there was also a practise exam available with a few short answer questions on it. I found that the most helpful.
 

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Haha.

One thing I noticed was that some people go overboard with bringing in reading material. The chick next to me set up about 5 books at the front of her desk. Crazy. Open book exams are a double edged sword so be careful.
 
I have an honours degree in finance but haven't really gotten anywhere with it (been out for four years and my salary is mid 50's). I'm thinking of taking up a grad dip in accounting, has anyone gone down this path?
 

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