Tuesday, April 28, 2009

A Greek Easter Dinner and Apple Squares

Last week, we had a traditional Greek Easter dinner at my parents’ house of roast lamb with gravy and potatoes. We also had avgolemono soup (egg-lemon chicken soup) as a starter, salad, feta cheese, and spanakopita (spinach pie triangles). My parents roasted the lamb in the oven (not outside on a spit) with fresh lemon juice, olive oil, salt and pepper (and I think oregano because they always use oregano). The lemon and olive oil kept the lamb from tasting gamey. The potatoes were roasted separately, but with the same ingredients.

Since I was busy studying, my only contribution to the feast was a hastily-made dessert. I didn't have to make anything because my mom had made all sorts of Greek cookies which I forgot to take a picture of (drank too much wine) – koulourakia (twisted butter cookies), melomakarona (honey and walnut cookies), kourabiedes (powdered sugar almond butter cookies).

I didn't get a chance to post pictures from Easter dinner last week. Since this is not only a CPA Exam blog, but also a Cooking blog, I wanted to take pictures of all the food we made and discuss the ingredients and cooking techniques used. But I was so hungry I forgot to take pictures BEFORE we ate; the picture is of the food that was left AFTER we ate.


Right before we left our house, I had made Apple Squares using the remaining frozen puff pastry dough sheet from when I made the Spinach Tart. I cut the puff pastry dough sheet into small squares and added an apple mixture I created by taste. I have to try it again to get the right proportions, but I mixed together approximately 10 oz of Mott’s Natural No Sugar Added apple sauce, about a tablespoon and a half of sugar, and a teaspoon or two of cinnamon. I spooned some of the apple mixture onto each square and baked them. The final product looked sloppy because I was in a rush, but they tasted so good! I thought they tasted like Pepperidge Farm apple turnovers, but everyone else thought they tasted like Entenmann’s Apple Puffs but without the icing. I am going to make them again soon so I can share the right ingredient amounts with you.

Monday, April 27, 2009

Preparing to Re-take REG

I am going to start studying for REG on Tuesday night (3 days after taking AUD). I have my new Wiley book, my Yaeger Home Study DVDs (from last time), and my Wiley Software all ready to go.

Since I used the Yaeger Cram DVD for AUD, I want to purchase a Cram for REG. I used Yaeger’s Home Study but no Cram the last time I took REG. I was 9 points away from passing, so maybe something new can shake things up a bit and make a difference in my performance. I don’t want to spend the money for another course right now since I’m unemployed, so I am looking for a Cram.

I went online to check out Roger CPA Review’s Cram since I keep reading that CPA Candidates like his energy and enthusiasm. The price for the online version is more than the Yaeger unlimited-use DVD. I watched a 7 min demo for Roger’s regular Tax course and I was really impressed. The instructor possessed a great deal of energy and emphasized key points. I recommend checking out the 7 min demo to see his mnemonic for Adjustments To/From AGI (Roger Demos). *10/21/16 update: The demo is no longer up, but you can check out Roger's Cram course here.*

Like I said I was really impressed with the demo, so I am seriously thinking of trying out the Cram. Has anyone used the Roger Cram? Let me know what you think of it. Any info would be helpful! Thanks!

Saturday, April 25, 2009

I sat for Audit today

I sincerely apologize to my readers. I finally took Audit today. That's why I have been neglecting everything and everyone this past week. Sorry I haven't posted on my blog or commented on your blogs. I will try to get to everything between tomorrow and Monday. I am just way too tired from staring at that book and then at that screen.

I plan to post something about how my studying went this week and pictures from Easter dinner and the dessert I made (very quick – I made it right before I went to my parents’ house!)

About the Exam – Audit is a 4.5 hour test but I finished it in 3.5 hours with plenty of time to spare for the simulations. I have never taken the computerized version of AUD before (I had passed it as a pen and paper exam), so I wonder if other people had a similar experience (?).
Out of 270 min (4.5 hours), I budgeted an hour for each multiple choice section (2 min per question for a total of 180 min) and 45 min for each simulation. I ended up finishing the multiple choice in a little over an hour without rushing (maybe I was used to answering questions quickly while studying?) and took my sweet time on the simulations. As a result, my communication memos were much more detailed than usual. I always get a "Weak" in writing style with my real-world-style basic memos that answer all the requirements, while a friend always writes comments about taking the client to a steak dinner and he gets "Strong." Since I had more time, I added a cheesy comment like that. We will see how that goes with the graders. Does anyone else find that using more entertaining comments as opposed to (or in addition to) “please feel free to call me with any questions” gives you a “Strong” grade on writing style?

Wednesday, April 15, 2009

Slowly Making Progress

I am studying my brains out in preparation for Audit next Saturday. So far, I have completed 3 modules. I read the chapter, watched the DVD, and did the MC questions. I am currently working on the 4th module (out of 6) which is Reporting. I hope to finish watching the DVD for module 4 by the end of the day.

I did well on Evidence questions (80% correct out of 189 questions) but I averaged 72% on the 3 modules in total (Planning, Internal Control, Evidence). Hopefully, I will have learned from my mistakes because I went over every question (right and wrong answers). I plan on doing all the multiple choice again next week.

I can’t wait until this is over with so things can get back to normal!

No Food this Week

Well, I should say that I’m not cooking anything this week because I am fasting for religious reasons (in observance of Greek (Eastern) Orthodox Easter). I have been eating canned vegetable soups, veggie burgers and pasta for the sake of convenience.

I can tell you that Dr. Praeger’s California Burgers are awesome (I just had one for lunch). I also like their Broccoli Bites and Sweet Potato Bites. Health Valley Split Pea Soup and Mushroom Barley Soup are also very tasty (you just have to add some salt while heating them).

I am going to try to make something vegetarian this week to post, but I can’t guarantee it because I am studying like crazy for Audit.

Friday, April 10, 2009

Familiarity = Disaster on the CPA Exam

Learn the material and know it. Go beyond being familiar with various topics. On the CPA examination, familiarity is insufficient; you must know the material. (Wiley)

You hear this advice all the time. From your review course instructor, written in the review materials themselves, from other CPA candidates and from people who have passed the Exam. You have to KNOW the material; Familiarity with the material is not good enough.

That’s where I always get into trouble when studying for the Exam. I am familiar with the material after studying it (and also from work or doing well on that topic in school many years ago) and I mistakenly come to the conclusion that it will be good enough to pass the Exam.

That’s why for Audit, as much as I am getting sick of doing questions, I will continue with my study plan and doing every question in the book twice. If I can get > 80% of the questions correct, then I can conclude that I KNOW the material.

What is the most useful advice you have received related to studying for the CPA Exam? Please share.

Wednesday, April 8, 2009

My Study Plan for AUD

I posted my study plan for Audit over at CPAnet Forum and thought I would share it with you here as well.

I'm using Yaeger HomeStudy which uses the Wiley books. My study plan is as follows:
  1. Read Module in Wiley book and related Professional Standards Outlines in the back and make notes in the book (Highlights: yellow-my notes, pink underline-Yaeger notes, blue underline-Yaeger cram)
  2. Watch Yaeger Home Study DVD for that Module and take notes in the book
  3. Do all questions in Wiley book for that Module
  4. Go over the answers to those questions and take notes on why the answer was right or wrong
  5. Make a note of % of questions correct
  6. Use Wiley Focus Notes like flashcards when away from home without Wiley book
After I finish all the Modules:
  1. Review my notes in the Wiley book (only notes and text that are highlighted)
  2. Do all questions in the Wiley book again (making sure % correct > 80%), including AICPA released questions and SIMs in the back of the book
  3. Watch the Yaeger cram DVD
  4. Do Wiley software questions if I have time

Looking at this study plan I created in Excel, I think it's very ambitious, but I am halfway through the material and I think I am retaining the material well and gaining confidence.
What's your study plan? Please share!

Tuesday, April 7, 2009

Let's Try a New Recipe! Spinach Tart!

After reading the premise behind the blog 101 Cookbooks, I was inspired to try a recipe from one of my many cookbooks. I own at least 30 cookbooks (!), a collection of family recipes and recipes I have concocted. I generally use "Essentials of Classic Italian Cooking," by Marcella Hazan or my parents’ recipes (my dad is a chef and my mom is an awesome cook).

I leafed through "Everyday Food: Great Food Fast," by Martha Stewart Living Magazine and found 2 recipes for vegetable tarts using frozen puff pastry dough. [Disclaimer:The Cooking Accountant is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.] One is a Mushroom Tart with mushrooms, spinach and goat cheese. The other was an Asparagus Gruyere Tart and the link has a video showing you how to prepare the tart, including how to roll out and score the dough. I rolled out the dough but I didn't use a ruler to measure or trim the edges because that is overkill (I just folded them over).

Since I didn't have mushrooms and goat cheese on hand, I decided to improvise and create a spinach tart. I followed the steps in the recipe but instead sautéed half an onion and a package of frozen chopped spinach as the topping with olive oil, salt and pepper. It came out really good and wasn't at all difficult to prepare.

I think you could make great appetizers by cutting the dough into little squares (or other shapes) and placing the topping in the middle. I might try this next time I have people over.

I have used phyllo dough many, many times, but I have never used frozen puff pastry sheets that you have to roll out. Have you used frozen puff pastry sheets and what did you make? Let me know!

Sunday, April 5, 2009

Required: CPA or MBA

Why must almost every Accounting Manager or Assistant Controller job require a CPA or MBA certification as a prerequisite to even be considered for the position? I understand that companies are seeking qualified individuals, but doesn't experience count as a qualification anymore?

I was the FASB and tax go-to person in a previous job as Accounting Manager; asked to advise in situations affected by new or complicated accounting pronouncements or how to handle the accounting or tax consequences of new business transactions (like dealing with VAT after the purchase of a UK trading business or creating a model for hedge effectiveness testing). I have run countless monthly accounting closes (yes, run; not just prepared the JEs). So why would anything change after I pass the CPA Exam and get my license? I would still possess the same knowledge through EXPERIENCE.

I don’t even bother applying to jobs where a CPA or MBA is “required.” I will, however, apply to jobs where those qualifications are “preferred.”

Are any other CPA candidates out there looking for a job and are you frustrated that your resume isn't getting a response to a job whose description you know is a perfect fit for both sides and you suspect it’s because you don’t have your license yet? Please share your story!