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Shumz CPA
Canada
เข้าร่วมเมื่อ 4 พ.ย. 2021
I'm a CPA, CA that loves accounting and believes that anyone with the will to learn can be good at it! My story is that I was never the smartest kid out of elementary school (~60% avg), but yet was able to finish high school, get into a top business university in Canada, get into a Big 4 firm, and get my CA. That's why I believe that every student no matter their situation is able to learn and get better, if given the chance/willpower.
I try to simplify any accounting concept into logical bite-sized components to help people understand. I also try to add in some humor into my videos, hope everyone enjoys it as much as I do.
The purpose of this channel is to provide free tips and tricks on learning accounting and give back what I've learned over the years to others to help them grow.
I try to simplify any accounting concept into logical bite-sized components to help people understand. I also try to add in some humor into my videos, hope everyone enjoys it as much as I do.
The purpose of this channel is to provide free tips and tricks on learning accounting and give back what I've learned over the years to others to help them grow.
Best No Fee Credit Card in Canada (October 2024)
This video outlines my top 4 no-fee credit cards in Canada! I hope this helps you decide what credit card to apply for and how to allocate your spending. I think there's no one best credit card, but there is the best card to use for specific spends.
In this video, I outlined the following:
Simplii Visa
Tangerine Mastercard
Canadian Tire Triangle World Elite Mastercard
Rogers World Elite Mastercard
Referral links:
Simplii
Use my link and you can earn when you open and use an eligible account with Simplii™. Conditions apply. blue.mbsy.co/3v3Vz6
Tangerine
Orange Key: 42369787S1
0:00 Intro
0:32 Overview
0:42 What to consider when selecting a credit card
2:03 My Top Picks
2:20 Breakdown of Credit Cards
8:47 Outro
#personalfinance #creditcardsforbeginners #creditcard #creditcards #ShumzCPA
In this video, I outlined the following:
Simplii Visa
Tangerine Mastercard
Canadian Tire Triangle World Elite Mastercard
Rogers World Elite Mastercard
Referral links:
Simplii
Use my link and you can earn when you open and use an eligible account with Simplii™. Conditions apply. blue.mbsy.co/3v3Vz6
Tangerine
Orange Key: 42369787S1
0:00 Intro
0:32 Overview
0:42 What to consider when selecting a credit card
2:03 My Top Picks
2:20 Breakdown of Credit Cards
8:47 Outro
#personalfinance #creditcardsforbeginners #creditcard #creditcards #ShumzCPA
มุมมอง: 369
วีดีโอ
My 2024 CPA Canada CFE Topic Prediction!
มุมมอง 1.7K2 หลายเดือนก่อน
This video goes over what I predict as a highly testable CPA Canada topic on their September 2024 CFE or module exams. As the government of Canada has been providing small businesses with many loans, I would imagine that CPA Canada would like their accountants to know how to account for them correctly. This video will be useful for anyone who is studying accounting and especially useful for tho...
Channel and Life Update
มุมมอง 2973 หลายเดือนก่อน
I know it has been a while since I posted a video, THANK YOU ALL WHO HAVE SUPPORTED ME!! This video explains where I have been in the last 1.5 years! It will give you an update on where I believe this channel will be heading. Overview: 0:00 - Intro 0:55 - Recap of channel 1:49 - House Hunting 3:20 - Teaching 4:10 - Why I stopped making videos 5:00 - Vacation Plans 6:50 - New Job 7:30 - Married ...
2 Hours Instrumental Piano Music - Peaceful Study and Work Music
มุมมอง 1014 หลายเดือนก่อน
Peaceful panio instrumental music while you study, relax, and focus. This helps me concentrate throughout the day, hope it helps you too! #studymusic #musicforstudying #guitarmusic #instrumental #guitar #Christian #ChristianInstrumental
Relaxing study and work music - 90 minutes
มุมมอง 2464 หลายเดือนก่อน
Peaceful guitar/panio instrumental music while you study, relax, and focus. This helps me concentrate throughout the day, hope it helps you too! #studymusic #musicforstudying #guitarmusic #instrumental #guitar #christian #christianmusic
The MOST Tested IFRS Topic On CPA Canada Exams - 100% - IFRS 15 Revenue Recognition
มุมมอง 3.8Kปีที่แล้ว
IFRS 15 Revenue Recognition - This video goes over the most tested CPA Canada topic in IFRS, which is revenue recognition. This concept is tested at every module and especially on the Common Final Exam (CFE). In addition to just the basic concept of revenue recognition, I also go over an advanced topic of gross vs net revenue recognition. This video will help anyone in the CPA Canada program (C...
Should I Quit my job? Advice from CPA Career Coach
มุมมอง 990ปีที่แล้ว
This video would be great for anyone who is in the CPA Canada program or has already gotten their CPA Canada designation. In this video, I interview a professional CPA Canada Career Coach, Casey Chung. This is going to be a three-part series where I ask Casey about various CPA Canada topics. Today we are going to talk about CPAs wanting to leave their job or what other options do they have? Cha...
What Is The Best CPA Career Path?
มุมมอง 6Kปีที่แล้ว
This video would be great for anyone who is in the CPA Canada program or has already gotten their CPA Canada designation. In this video, I interview a professional CPA Canada Career Coach, Casey Chung. This is going to be a three-part series where I ask Casey about various CPA Canada topics. Today we are going to talk about what is the best CPA career paths for newly designated CPAs or for CPA ...
Best CPA Canada PERT Advice From Professional CPA Career Coach!
มุมมอง 1.8Kปีที่แล้ว
In this video, I interview a professional CPA Canada Career Coach, Casey Chung. This is going to be a three-part series where I ask Casey about various CPA Canada topics. Today we are going to talk about the PERT process and tips he has for candidates completing it. CPA Competency map for PERT: www.cpacanada.ca/-/media/site/become-a-cpa/docs/practical-experience/3-employers-cpa-pe-competency-re...
The MOST Tested ASPE Topic On CPA Canada Exams - 100% - ASPE 3400 Revenue Recognition
มุมมอง 5K2 ปีที่แล้ว
ASPE 3400 Revenue Recognition - This video goes over the most tested CPA Canada topic in ASPE, which is revenue recognition. This concept is tested at every module and especially on the Common Final Exam (CFE). In addition to just the basic concept of revenue recognition, I also go over an advanced topic of gross vs net revenue recognition. This video will help anyone in the CPA Canada program ...
Audit Opinions Simplified In 3 Minutes - CPA Canada Prep
มุมมอง 1K2 ปีที่แล้ว
This video will help anyone who wants to learn about audit opinions. This video is recommended for anyone who is studying for their CPA Canada exams (Core 1, Assurance, and CFE). In addition, it can help those who are looking into pursuing their CPA Canada designation that are not currently in the program or want to pursue a career in assurance. Videos come out every week, so please subscribe i...
How To Get C’s On Audit Planning Memo Every Time! - CPA Canada
มุมมอง 5K2 ปีที่แล้ว
This video will help anyone who wants to learn about the Audit planning memo. In addition, it can also be applied to doing a review planning memo as well. This video is recommended for anyone who is studying for their CPA Canada exams (Core 1, Assurance, and CFE). In addition, it can help those who are looking into pursuing their CPA Canada designation that are not currently in the program or w...
My CPA Canada Exam Topic Prediction!
มุมมอง 3.7K2 ปีที่แล้ว
This video goes over what I predict as a highly testable CPA Canada topic on their September 2024 CFE or module exams. As the government of Canada has been providing small businesses with many loans, I would imagine that CPA Canada would like their accountants to know how to account for them correctly. This video will be useful for anyone who is studying accounting and especially useful for tho...
Related Party Transactions Simplified (with examples!) + Case Writing Tips (ASPE 3840 and IAS 24)
มุมมอง 4.9K2 ปีที่แล้ว
This video is for anyone who would like to learn about related party transactions for ASPE and IFRS. This video goes over how ASPE 3840 and IAS 24 goes through related party transactions. If you are going through the CPA Canada process, this is the video for you, especially if you are in Core 1, Core 2, or studying for the CFE. Hopefully this video helps CPA Canada Candidates on their journey t...
Choosing CPA Canada Elective Modules and CFE Depth Topic? [Tips + Recommendation]
มุมมอง 3.5K2 ปีที่แล้ว
This video will help people going through the CPA Canada program and thinking about which elective modules or depth areas for the Common Final Exam (CFE) to select. Hopefully this video helps CPA Canada Candidates on their journey to becoming a CPA. CPA Canada Facebook Study Group: groups/cpacanadastudygroup/ CPA Canada WhatsApp Study Groups: excelcfe.thinkific.com/pages/cpa-canada...
CPA Canada Module Survival Guide - Explaining How/What To Study!
มุมมอง 2.5K2 ปีที่แล้ว
CPA Canada Module Survival Guide - Explaining How/What To Study!
CPA Canada Study Groups [2022] - WhatsApp and Facebook
มุมมอง 6462 ปีที่แล้ว
CPA Canada Study Groups [2022] - WhatsApp and Facebook
Debriefing CPA Canada Cases Correctly + Examples
มุมมอง 2.7K2 ปีที่แล้ว
Debriefing CPA Canada Cases Correctly Examples
Accounting For Investments In Companies (Passive Investment, Significant Influence, and Control)
มุมมอง 2.9K2 ปีที่แล้ว
Accounting For Investments In Companies (Passive Investment, Significant Influence, and Control)
Top 5 CPA Canada MCQ Exam Tips + Secret Statistical Techniques
มุมมอง 4.2K2 ปีที่แล้ว
Top 5 CPA Canada MCQ Exam Tips Secret Statistical Techniques
How to Start Investing In Canada 2022 (TFSA, RRSP, and Non-Registered Accounts Explained)
มุมมอง 1.7K2 ปีที่แล้ว
How to Start Investing In Canada 2022 (TFSA, RRSP, and Non-Registered Accounts Explained)
Understanding CCA, UCC, Recapture, and Terminal Loss for Tax
มุมมอง 13K2 ปีที่แล้ว
Understanding CCA, UCC, Recapture, and Terminal Loss for Tax
Solving Profitability Analysis - Most Common Day 3 CFE Managerial Accounting Topic
มุมมอง 3.4K2 ปีที่แล้ว
Solving Profitability Analysis - Most Common Day 3 CFE Managerial Accounting Topic
How to PASS the CFE Exam for CPA Canada? [2022] Day 3 Managerial Accounting
มุมมอง 3.5K2 ปีที่แล้ว
How to PASS the CFE Exam for CPA Canada? [2022] Day 3 Managerial Accounting
3 Hours Study, Relax, and Focus Guitar Music
มุมมอง 5802 ปีที่แล้ว
3 Hours Study, Relax, and Focus Guitar Music
Solving Personal and Corporate Taxes Payable - Most Common Day 3 CFE Tax Topics
มุมมอง 7K2 ปีที่แล้ว
Solving Personal and Corporate Taxes Payable - Most Common Day 3 CFE Tax Topics
2 Hours Study, Relax, and Focus Piano Music
มุมมอง 8032 ปีที่แล้ว
2 Hours Study, Relax, and Focus Piano Music
Solving The Most Common CFE Day 3 Finance Topics - Buy vs Lease and Cash Flow Analysis
มุมมอง 4K2 ปีที่แล้ว
Solving The Most Common CFE Day 3 Finance Topics - Buy vs Lease and Cash Flow Analysis
What is your every day credit card?
Just started Core 1 this past weekend. Thanks for the tips! Would you say that if you have a good handle on the quiz questions, you'll be fairly likely to pass the MCQ section of the exam? Do you recommend using the question banks, or could my time be better spent elsewhere? Thanks!
I shop at Costco and have a phone bill with Rogers. Also shop at Walmart.
Seems like the Rogers MasterCard is for you. But I'll also introduce a card for Costco next video that can get you more than 3% cash back 🙂. Its not a no annual fee card, so didn't include it in this video.
first
I really appreicate the videos you put out!
Where in the handbook does it state to use the average rate?
Since it is a four year loan, why are you not accounting for the time value of money? Essentially calculating PV? Then using the exchange rate on the PV. Or would the annual payments received need to be factoring in for the time value of money?
how do you get into teaching?
thanks for this!!!
Woo im your 3,000th subscriber!
When you do your procedure, are you testing as if the client adopted your FR adjustment? Ie, client expensed intangible costs but it’s actually an intangible, am I testing for completeness of expenses or existence of IA?
Thanks for the content. A past day 2 I wrote as practice had a brief currency conversation AO on a receivable. As crypto has become a talking point again, I’m half expecting an AO on that.
Thanks for the video. Do you recommend FCT and PCT also to be read as an extension to this?
Thanks for this video. I just registered for the Core 1 (fall session for 2024). This is the first video I'm watching on the standards, and you really broke it down in an easy-to-understand manner. I'll watch your other videos to make my studying easier. Regards!
How can I reach you for marking cases, if you are providing the service ?
Sorry, don't provide those services. But thanks for the support!
Thanks for sharing! Just to clarify, the reason we did (opening rate + closing rate)/2 was because the interest was paid at YE, meaning it was accrued over year 1. But if they paid monthly, we’d use the rates for each month, right?
Technically interest is calculated daily... so you would always use the average rate of that period if that information is available. If not, then you can use the rates available to get as close to the average rate of that period.
@@ShumzCPA ty boss, I appreciate it!
Hi there I am in this SAME exact boat . Is it too late for me> I have gained experience, but I need HELP to write my report.
Excellent topic, would like to know, If I select and finish 3/4 electives, what role I will take in Day 2 exam? they will allow me to choose?
you can select any elective as your day 2... even the elective you never took (however, that might not be the best choice tho). So in the end, it's up to you on what you want as your day 2... most people pick whatever area they got the highest mark in if your employer did not specify
@@ShumzCPA Copy that, Many thanks!
Thanks!!!!
Glad it helps
Hello, what is this prediction based on??
Like all things in accounting, professional judgment (99% guessing 1% seeing how the Canadian economy is doing)
2nd
next time you will be first
@@ShumzCPA daily reminder not to give up
You wrote "using the average rate" at 7:44 but used the closing rate in the calculation. Which is correct?
Good catch, it should be average since interest occurred throughout the year. So the rate should be (0.83+0.86)/2 = 0.845
thanks
You're welcome!
Your explanation is super clear, thank you!
Glad it was helpful!
Can I do CPA without any undergraduate degree or without work experience. Would I be eligible to apply for cpa pep courses. Thank you
Passing the CPA exams is when you study hard,if you can't study or you don't have time for your studies I'd advise you get yourself a help like Mr Dylan
People keep talking about Dylan all over TH-cam,he must be a very awesome help.
Yes you're correct but remember heaven helps those who help themselves, try studying if you can't study then get yourself a good help
I studied for months and couldn't pass, I guess passing is a blessing
CPA exam might seem so tough to pass but studying very hard is a very vital skill to win trust me.
NOODS!!!
Noodles.
Hello
Hello 😊
FIRST YOUR FACE LOOKS SO NICE
Thanks for the compliment 😅
first :>>
This is so calming, thanks!
First!
Yes you are!
I have one doubt about whether which option would be better 1. Doing cpa directly with cpa Ontario or 2. Doing some accredited courses
If you’re having difficulties making decisions/ passing your exam I advise you to get a help like Prof Dylan
His availability is on tele gram
@ Mr_ Dylan01
@@JacksonTerry-qm9ov How can I get his contact information
Have you got your answer?
Thank you this was helpful! I have 4 years of accounting experience and have no degree. My past job and current job I am going through the same problem of monotony and lack of collaboration. I've been frustrated working on the job and doing the work, but not knowing the why. I am considering going back to school for a BA. What helped you guys give clarity to pursue accounting in the first place?
I’ve recently received my CPA and have 2 busy seasons under my belt as an auditor for a Big 4 company. While I have learned a lot and had good team members, I didn’t feel fulfilled. I reflected on this and want to pursue a career where I am able to help others with their personal finance because I would have the knowledge to do so and love to help people save and invest. I talk about personal finance daily with friends, family, and colleagues. Any thoughts on this career shift and if I can still leverage my CPA license and experience in this career? Thanks for the quality video
just be yourself !
pls guide from where i can find summaries of tax?
Thank you so much! This is an excellent instruction on audit memos. So helpful and easy to use. I'm sad your CPA tutoring website is not running anymore. Otherwise, I'd like to take CFE preparation courses.
Thanks for the support. Lots of things took priority, so was not able to keep the service going. Hopefully I can get back to making more videos.
Very informative
QUESTION: What is UCC for my vehicle if I bought it just last year? How do I calculate it for the 1st year?
Great stuff, keep up the good work.
Much appreciated!
This is very useful video. Thank you so much
great video!
In the last example, the buyer should record the transaction at Exchange amount - like you said. The Building should have been debited $500,000(not $200,00) Cash should have been credited $200,000 and the difference of $300,000 should go to P/L as Gain?
yes thats what i thought probably a typo
Wonderful video for first-time writers, you are awesome!!
Question please; I’m confused about the modules, are these modules similar to different subjects/courses that I need to study and will write an exam for each course individually?
Anybody attempting core 1 in July 2024 and want to study partner