1.

The pros are as follows: they fully sponsor you to undertake a professional
qualification that are globally recognized, you'll form a formidable network of
colleagues, your client interaction will develop to become more managerial, the
prestige of being part of one of the world's largest organizations, and being
secured in a job. The cons would be: the actual work may be boring and repetitive,
the money is not quite much compared to a new starter at an investment bank, you'll
have to work whatever hours are needed to make a deadline during busy season to
make sure the client stays happy, you can expect long hours away from home and be
unluky, and out of an intake of many hundred, only a handful will ever be at the
top.

2. The pros are as follows: easier to develop a close working relationship with
partners, learning at your own feet at the client's site, you don't get the
pressure from deaedlines and complexities, and there is a high chance to perform
the entire audits alone and do tax during busy season. The cons would be: the
client base is smaller and you get less chance to develop broad base of experience,
competition to move up the ladder can be tougher/slower, and the starting salary is
typically a few thousands less, and they may not offer bonus after passing the CPA
exam.

3. The pros are as follows: there are great training programs and the training will
be helpful for your career development and for fulfilling the CPA CPE requirements,
you will rapidly develop skills and expertise that simply cannot be learned
anywhere else. However, there is still the downside wherein, being in a large
company, you are pressured to work with longer hours, the probability of staying in
one level and not moving up, you may spend more than 80% of your time on a single
client, and you may feel lost within the organization.

4. The pros are as follows: I'll become a revenue agent and I'll have the
satisfaction of knowing my efforts benefit others by helping to provide the
necessary funds for a wide variety of essential programs, and I'll have lucrative
compensation. The cons are as follows: I'll have to deal with the complex nature of
the tax code, and I'll often carry heavy caseloads and meet tight deadlines which
can create high levels of stress.

5. Teaching provides a wonderful way to impact lives and "make a difference in the
world." There is tremendous satisfaction in helping another person understand a
difficult concept or problem. As a teacher of accounting, professors cover several
diverse subject areas. Still, most teachers dislike the difficulty and tedium of
grading, academia can also be filled with political pressures. For the most part,
academics are very smart and some have large egos and very strong opinions. Add to
this potent mixture the near impossibility of firing a tenured professor, and the
academy can be a prickly place of politics. Finally, while professors are
compensated quite nicely, there is a ceiling on compensation. professors can get
locked into slaraies and have a hard time receiving pay raises unless they are
willing to switch schools.

Case 2

Accounting is not merely bookkeeping. While these two are usually mistaken as the
same, it is not entirely. Accountants are qualified to handle the entire accounting
process, while bookkeepers are qualified to handle recording financial
transactions. To ensure accuracy, accountants often serve as advisers for
bookkeepers and review their work. Bookkeepers record and classify financial
transactions, laying the groundwork for accountants to analyze the financial data.
A bookkeeper takes care of the general ledger while accountants give context to it
by analyzing the data and providing strategic advice. The characteristics of a
profession are as follows: mastery of a particular skill acquired by training and
education, adherence to a common code of values and conduct, and acceptance of a
duty to society as a whole. I have acquired a degree of Bachelor of Science in
Accountancy and I have fun continue learning more from my experiences. We, CPAs,
have our own Code of Ethics which is mandatory for all members of the profession.
And our paramount concern is the public. We are the guardians of the public
interest. We provide assurance to financial statements. Therefore, accounting has
passed these characteristics and is truly a profession.

Case 3

MUST OBTAIN A GENERAL AVERAGE OF 75% WITH NO GRADES LOWER THAN 65%
In the eevent a candidate obtains a rating of 75% and above in at least a majority
of subjects tested,
AA - PASSED (94.67)
BB - PASSED (87.33); 6 subjects above 75%; no rating of less than 65%
CC - CONDITIONED (85.5); 5 subjects above 75%; obtained a rating of less than 65%
in 1 out of 6 subjects
DD - FAILED (74)