I snagged a part-time bookkeeping job for the summer, which is perfect, because I think having some bookkeeping experience will be really helpful as an auditor!

It’s hard to go and ask people in your client’s accounting department for paperwork without really understanding how an accounting system functions. Now, even if a client has a different accounting system than the company I’m working for now, I’ll have the confidence to know that my ignorance is of that specific system, not of bookkeeping in general.

Of course, having a degree in accounting means that bookkeeping is pretty understandable, and I already understand the concepts, but participating in the process at a real company just makes me feel that much more competent and reassures me that I really did learn something over the last five years!

Hi guys!

So I’ve been a little quiet, which usually happens when I’m not studying enough for the CPA exam! After hearing that I passed REG, I had a hard time motivating myself to study for AUD, which seems so much easier! But still, I need to keep reviewing, or I might find it much harder than I expected!

Classes started Thursday, so I have to get back to homework and readings. My first assignment of the semester is due tomorrow. We have to read an article titled “The Seven Deadly Myths of Accounting” by Moses L. Pava, and then write a one-page response about a particular one of the myths we agree or disagree with.

I couldn’t find a copy of the article online to link to, so I’ll summarize it briefly. Essentially, the article seems to be written for an audience of accounting professors, regarding the myths that accounting students have.

These myths touch on the idea that many students have that accounting is simply a set of rules, and if one memorizes the rules, one will be a successful accountant. Pava argues that accountants, above all, must be approach accounting like a foriegn language, and must learn to communicate in this “language of business” and that simply memorizing the rules is like trying to learn a foreign language by memorizing long lists of vocabulary words, without learning grammar or practicing speaking or writing.

The myth I chose to respond criticizes the way accounting students accept accounting rules without questioning them. Pava talks about the blank looks he gets from students when asking them to talk about the weaknesses of how we calculate net income. He says:

“It is almost as meaningless as asking them to evaluate the benefits and limitations of “subtraction” as a mathematical operation. Just as students take subtraction for granted, students have inherited a view where net income enjoys a granite-like status. Net income simply is.”

I’m sure that some of you out there held beliefs as students that were ripped to shreds upon entry into the “real world” of accounting or business. Could you share some of those “myths” with us that you think should be on this list?

When I named this site “AccountingElf” the creatures I had in mind were the elves from the story “The Elves and the Shoemaker.” While the Shoemaker slept, the elves did careful, beautiful work making shoes.

Unlike the elves in the story, I do not really stay up all night doing accounting. Sometimes I even have time for fun!

I have a lot to post about – last week was my university’s Accounting Career Fair, where I got to meet a few of the firms that are actually hiring this season. Over the weekend we had our first home football game, which means an abundance of craziness everywhere. This week it was back to school with some group projects, and luckily a few recruiting events in the wake of the career fair.

I’m in the middle of reading for tax class tomorrow, so I’m going to get back to that, but hopefully I can put some substantial posts up soon.

I’m quite happy with my levels of studying for the last couple of days. I just need to keep it up tomorrow, and we’ll call it a good week (despite the football weekend!)

If you missed my little post about diversity and accounting recruiting, check it out here. There are a lot of really insightful comments already, and they make very interesting reading.

Today was a good first day. I have great professors and interesting classes. It seems like the Masters of Accounting program is going to include a lot more reading and discussion than the undergraduate Accounting program.

Today I had class, went to the gym (its one of my forms of procrastination, but good for me!) and did some reading for class (there’s still some hours of reading ahead for me tomorrow.)

I tried to fit in an hour of studying for REG, but bedtime came too early, so only got in 45 minutes.

REG So Far

Right now, I have watched the Roger CPA videos for the REG-1 section (individual taxes.) That covered in about 3 hours what I spent a whole semester learning at school!

Before I watched the videos I spent some time reading over the Roger book chapter, which took awhile because it’s a long chapter.

Now I’m going back through Roger’s CPA review book and making note cards. This is VERY time consuming, but I tried to do it the week before the exam for FAR, and it was too late by then. Now when I get through all of the sections, I’ll already have made note cards to review with.

Also, I’m  not super comfortable with the topics on the Regulation section of the CPA, so some extra review before I even attempt the homework problems can only help! My CPA exam preparation strategies are always open to changes and improvements!