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Showing posts from June, 2021

4 Tips to Balance Remote Working and Accounting Preparation

The COVID-19 pandemic has turned the workplace upside down as several businesses, including accounting firms, implement work from home to contain the virus contagion. Working from home (or remotely) on such a brief period is likely to take people by surprise, even if they can easily do most accounting tasks from their homes. This holds particularly true if they are also preparing for an accounting credential. Out of the blue, people have to set up a home office, set their work hours, set their study hours, stay as efficient as possible, and keep up some level of sanity. Fortunately, accounting exam aspirants can implement some simple (yet effective) ideas aspirants to ensure a healthy work-life-study balance. Scroll down to know. Structure is Key Just like setting work time, accounting exam aspirants should also figure out study time in their delegated workspace, and try to follow that regime religiously. When people transit from work hours to study hours, they should not be checking ...

10 Useful Tips To Survive Your CPA Exam 2021

Are you looped in every day’s procrastination of piling a to-do list? Or is chronic mind fog affecting your output? Or trying hard to squeeze out some time from the busy work-from-home schedule? CPA had always been a tough nut to crack, followed by daily nags it can be difficult to concentrate on your studies. There are few tried and tested methods to survive the CPA exam preparation for 2021. Tip no 1: Prepare a To-do list Make it a daily habit to prepare a to-do list every morning and it would be enlightening to have a whiteboard to make your job easy. Try to keep the whiteboard at your front view as a visual reminder of the tasks that day. Tip no 2: Utilize your tea-breaks If you are taking 15-minute tea breaks from your work schedule, remember to tick that to-do, before you are back to your daily work. This will seed a sense of accomplishment for having the tasks done and you already feel positive for having a productive day. Tip no 3: Avoid multitasking Do not multi-task. You migh...

5 Surprising Facts about Accounting as a Profession - You Won't Fall Asleep, We Promise

 Do you think accounting jokes are lame? Wait until you read the following surprising facts about the accounting field we have piled up for you. While we can make fun of accountants all we want, the reality is we need them more than we realize. No enterprise can hold out without an accountant and there are certain aspects of the job that will truly surprise you. That is why we have cast some light on this profession and share some of the most interesting facts about accounting. The UK is a Paradise Accountants in the UK can earn around £105,000 per annum — a pretty handsome pay. But this is not the case in every sector — the highest-paid accountants are those who work in the capital markets and banking industries. The average annual income (including bonuses) for them is nearly £170,000. Digitalizing Accountancy Practice If you think that affection for numbers is more than you need to pursue a career in accounting, we have brand-new accounting statistics that will prove you wrong....

C-P-A-Three Letters to Get a call from the Big 4s

No need to think twice, just resolve to get your US CPA this 2021. It’s better late than never and here are the big 4 reasons to do so. The CPA is one of the most, if not the most, well-known credentials in the accounting industry. Your manager or accounting professor has likely already encouraged you to become certified, but maybe you’re still wondering, “Why become a CPA?” We list the top reasons and address some common concerns about the CPA path. Higher salary. Better benefits. Q: “Do I even need the CPA to be an accountant?” A: If you want to get the biggest return on your career efforts, then absolutely. According to Payscale, right now the average CPA makes ~$65,000, while the average non-certified accountant makes ~$51,000. The CPA will help you land a much bigger starting salary than you could without it. In fact, with the CPA license, you can make 10–15% more than the average salary in public and private accounting. In addition, many upper-level positions, especially within a...

5 Challenges CPAs Face — And How to Offset them

The accounting field has undergone some radical changes over the last several years, and many challenges are still in the cards. Tech advances are demanding certified public accountants (CPA) to scale up their basic transactional and compliance services to deliver more consulting and advisory solutions. Meanwhile, CPAs are coping with the COVID-19 crisis and helping customers navigate the Paycheck Protection Program loans, CARES Act, and forgiveness applications. All this alongside the typical demands of the tax and audit phase. With loads of noises to cut through, it is hard to look toward the future. That said, CPAs must continue gearing up for the time ahead to curtail the risks and gain a competitive edge. We have highlighted the five major challenges CPAs face nowadays, along with the measures you can take to turn the crisis into opportunities. Let’s get started. IT Literacy One of the main issues CPAs face is to leverage cloud accounting software and work effectively in a cloud ...