4 Tips to Studying for the CPA Exam on the Weekend
Executing an Efficient Study Session I know, I know, there’s nothing like the idea of studying for the CPA exam that gets you hyped for the weekend… (yes, don’t worry, that was sarcasm). Assuming you’re working full-time and/or managing a personal life/family, finding meaningful time to study for the CPA exam can actually become quite […]More
What is an adjusted trial balance?
One of the most important and difficult topics on the FAR section of the CPA exam is “adjusting journal entries’. You will need to understand why a company would record “adjusting journal entries” to its general ledger / unadjusted trial balance. A company will always start with the unadjusted trial balance or general ledger at […]More
Is it worth getting the CPA license? Asbolutely!
💬 “Is pursuing the CPA license even worth it?” 💬 “I have failed, I am discouraged, what do I do?” 💬 “I have a full-time job; how can I balance my work life with studying?” Yes, these are questions that we get every single day at Universal CPA Review. We’re not going to B.S. you, studying for the CPA exam […]More
Switching CPA Courses – The Spilt Milk Program!
Did you commit to a CPA review course that: #1 Is “thorough” in the sense that they dump every little detail into the textbook? #2 Is text-heavy and promotes memorization instead of actually learn the intuition behind the topic? #3 Doesn’t do a great job of explaining the solution in your practice questions? Well, that’s no way […]More
AJE Workbook for Lecture
If you would like to use the Excel workbook that was used to create the adjusted trial balance the Universal CPA lecture on adjusting entries, please navigate to the link below and you will be able to download the Excel file: If you haven’t used the Universal CPA Review platform to study for the CPA […]More
What is the difference between statement of manufacturing and statements of comprehensive income?
The statement of manufacturing isn’t a formal statement under US GAAP but it would summarize all revenues and expenses related to a company’s manufacturing activities. The statement of total comprehensive income is a formal statement under US GAAP and is the combination of net income and other comprehensive income, which is all gains/losses that impact stockholders […]More
Payback period approach vs discounted payback period approach
What is the payback period approach? The ‘payback period approach’ determines how many years it will take to recover the initial project investment cost. Two limitations of the payback period approach is that it does NOT consider the time value of money or the profitability of the project beyond the payback period. The calculation is […]More
How to calculate present value factors?
The present value factor formula is below, and while it may look daunting at first glance, it is easy to remember after you work through it a few times! In the formula, rate represents the cost of capital or the discount rate, while periods equals the number of years. Present Value Factor Formula Example: Let’s […]More