Archive for July 2009

BEC – More like B-EZ

July 21, 2009

I took BEC the other day. After feeling crushed by REG, I had studied night and day for this one so I wouldn’t risk feeling similary beaten.

And I emerged victorious (at least that’s how it felt)! I was shocked at how simple and straightforward most of the questions were for BEC. I’m not saying I would have passed without studying, because I probably wouldn’t have. But, having studied quite a bit, the answers seemed to jump right out at me.

Of course, I don’t really know if I passed yet since my score won’t be available until at least next month, and possibly not until September. But I CAN say that I FELT like it was much easier than FAR or REG. Which was a very welcome feeling.

I have one more section of the CPA exam to go, friends, assuming that I receive a passing score on REG and BEC (which very well may not be the case for REG). Up to this point, I’ve finished 2 of 5 Becker lessons for AUD, and so far it seems fairly straight forward. I’m really glad I saved it for last because it’s soon going to be the most applicable to my day-to-day life. It’s really starting to sink in that I’m going to be an auditor next month at a “Big Four” firm, and I’m truly excited about it!

Apartment Hunting

July 11, 2009

TheFieryOne and I have been discussing what we want in an apartment when we move next month. The questions we ask ourselves include

1 – How much extra is it worth paying per month for laundry facilities inside our apartment?

2 – Are we willing to sacrifice how nice the apartment is for a couple hundred dollars of savings per month?

3 – How far should we really be from public transportation, knowing that we’ll use it more than our car?

4 – Is it worth it to purchase renter’s insurance?

5 – Are we willing to get rid of some of our furniture to be able to fit into something small?

Our answers have made it clear that we’re willing to make some sacrifices to save money on an apartment. Certainly, we don’t want to live in a hole, but we’re willing to live without a dishwasher or a washer and dryer. It’s likely that the apartment we choose will be either a house or a small complex. The bigger apt. complexes seem to be charging a premium that the smaller, one-off units don’t charge. Fortunately, craigslist makes finding the latter possible.

In the end, we want to live a comfortable, happy life, but we also want to save money where we can. If that means doing a little extra work up-front to find the right place, and sacrificing a few conveniences, that’s okay. We can think of a lot of good uses for the $2400-$3600 we’ll save. Namely, paying off student debt. Or perhaps European vacations. We’ll see.

REG Is A BEAST!

July 1, 2009

Many people say that FAR is the most difficult section of the CPA exam. For me – whose academic focus has been financial reporting and assurance – that was not the case. I walked out of FAR feeling like I had passed it. And, thankfully, I had.

But when I walked out of REG today, I had no such feeling. Not even close. I mean, I may have passed, but if I did, it won’t have been with flying colors. Not even close.

That’s okay, though! All I need is a 75! Come on 75! Big money, big money, big money . . . (apparently, in my mind, it’s a lot like gambling, which, btw, is includable in gross income while gambling losses are only deductible as a miscellaneous itemized deduction up to the amount of the winnings, but I digress).

The one thing I feel comforted by, having just begun studying for BEC today, is that there seems to be some overlap of the things I studied for REG on BEC. And like I always say, any overlap is good overlap.

I’d complain about the long wait time for my REG score, but considering all the other things I have going on (selling my house, finding a new apartment, finishing classes, studying for BEC and then AUD, etc.), I probably won’t worry about it too much. If I have to retake the beast, I’ll retake it.

[My actual inner dialogue? “Please, oh please, be a 75! Don’t make me take the beast known as REG again!”]