He who seeketh, findeth

August 18, 2009

CPA Exam REG Prep Continues … 8/18/09

Filed under: CPA,REG — Steve (Chessiq) @ 11:48 pm

This was inspiring to me today:

 To Write or To Commute?

http://www.thomasjstanley.com/blog-articles/25/To_Write_or_To_Commute.html#

How long did it take me to write The Millionaire Next Door?  I wrote the entire 477-page manuscript in about 180 days, or 43,200 minutes.  I wrote on average for four hours each and every day, about 240 minutes a day.”

Studied my notes in the car at lunch

7:42pm – 9:22pm Finished Transactions in Property. Took a break to prepare dinner (soup), change printer toner, create an Evernote template for the day, etc.

 No need to write notes. It’s slow and it is taking up study time, which I don’t have. I am just printing the questions and notes that I think I will need to review. I am also trusting my brain to recall anything that I have seen, reviewed, heard, skimmed, or made a mental note to remember! (Sounds like “The Secret”, but I really believe that statement. It is part of my “mission statement”.

  9:25pm – 9:42pm – break: checked another71 and twitter to see if AUD is out. It looks like it is not out. It was interesting just reading the comments of all the people who have passed, failed, or are still waiting for the results! You see that you are not alone in the thoughts and emotions that go with taking the exam. My advice to myself is, put in the time, that way you don’t have to work on stuff last minute, and you don’t blame yourself that you had the potential but you didn’t take the chance! I hope I won’t (blame myself). I was wondering if, say, I found out that the results were out, would I have the discipline to wait and stay away from finding out? I would like to stay away, but I can see myself thinking, “I will log in, but I will not click the Examination Score Inquiry  and then current exam results”! Ha ha! I just tried it for fun:

 AUD - playing with fire ;-)

Of course I cut out my AICPA ID# and EXAM DATE… Phew!

Enough rest, let’s study.

9:45pm – 10:12pm Insurance 11MCQs. Taking the Getting Things Done (GTD) approach: Will this take more than 2 minutes? If the answer is no, do it now. In this case, this Module was small enough to be done in no time. Who knows, there could be a question on insurance 😉 Now I know what 80% co-insurance on property (buildings) is: an “incentive” for insured to maintain insurance equal to 80% of FMV of insured property… Of course this does not apply when property is totally destroyed. Yay! I like the formula for calculating the maximum that can be recovered in case of partial damage. Oh, well, next module!

 10:20pm – 11:24pm Debtor–Creditor Relationships Done with Module. Need to drive home now. I took a break to check on my boss who has travelled from USA to India for work.

Now I know about Sureties and Guarantors, personal defenses of a debtor, co-sureties, and their rights (contribution, exoneration, reimbursement, and subrogation). Some of the things are not necessarily new, because I have listened to them a bunch of times when I was driving and listening to the old (2007) Gleim CDs. However, recalling and applying that information is a different ball game. I am happy with my progress these past couple of days.

 Chessiq - Evernote CPA REG 08.18.2009

Tomorrow I will shoot to do a couple of things:

A 24 MCQs test, 2 modules with less than 60 questions, and then start on Individual Taxation.

 It is a wonderful life!

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