May 12, 2016

Well! Capstone 1 is approaching, and the deadline to enrol in Capstone 2 and the CFE is near!

I've already paid for Cap 1. So that is a sunk cost.

And my to do list is:
Enroll in Capstone 2 (I think it's about $1.3 K)
Enroll in the CFE

All before May 27th.

Quite possibly enroll in CPAFormula's CFE prep program - $1.1 K


Capstone 1 reflects day 1 of the CFE.

Day 1 is based on the 5 enabling competencies:

- Professional & ethical Behaviour
- Problem solving and decision making
- Communication
- Self-Management
- Teamwork & Leadership


The Story of The Dog

I like to symbolize the first enabling competency with a dog. (because you tell a dog to behave), except this dog will have a suit on (for professionalism) and halo around his head for being ethical!

Problem solving can be symbolized by a maze, and decision making can be symbolized by arrows going through the entire course and 1 red line representing the decision making!

Communication can be symbolized by the dog talking.

Self-management can be symbolized by a the dog licking it's paw (it's 'managing' itself)

Teamwork & leadership can be symbolized by other dogs following our imaginary suited dog from heaven.


So I've got the titles memorized in my mind with this imaginary story of a dog!:

We got a dog wearing a suit and tie with miniature angel on it's shoulder - professional and ethical behaviour

zoom out and that dog is in a maze and all possible paths are outlined and he chooses one! - problem solving and decision making.

dog barks/calls his friend - communication

dog licks his paws while he's waiting for his friends - self management

dogs friends come and he leads them from the start of the maze to the end! - teamwork & leadership

Cool. Done. lol. if only.




The following is a document provided by CPA that explains Capstone 1 and 2 in detail:

https://www.cpacanada.ca/~/media/site/become-a-cpa/docs/evaluations/cfe-info-slides-en.pdf?la=en





I haven't yet started Capstone 1 (I start this weekend). But I hear it's an 8 week course, with little tasks, but it'll all vary according to how good your group is.

I think at this point, it'll be hard to get caught with a bad group. I mean everyone is smart enough to make it pass core 1, core 2 and both electives (which I thought were harder than core 1 and 2), so ideally I won't have to deal with dumb people and they'll do their part.

I'm just so scared. For the past 3 hours, I've been telling myself all my secrets for dissolving my general fears.

I usually exaggerate the easy stuff, and then the hard stuff I simplify.

That being said, if I'm gonna do the CFE this year, and I know I am. I do NOT want fear to hold me back so I'm going to come at it with two attitudes:

"CFE? Pffft that's 3 letters. CAPSTONE 1 and CAPSTONE 2 are 16 letters and 2 numbers combined! And 8 letters and 1 number each!"

Again, this is to dispel any fear I have.

Additionally, I was listening to a speech an hour ago and the main idea I gathered was this:

"If you take on great adversity (in other words: difficulty), then smaller adversities won't be so tough."

Implying that, if you study REALLYYYY hard for the CFE, it will be easy.

There is validity to the above statement. I remembered the assurance elective multiple choice was EASY and I studied hard and smart! I'll tell you what I did: I made a website! But I did not make it an online website. I made an offline website, meaning it was basically notes on my computer with basically zero content online.


Disclaimer: Do not make an online website full of CPA PEP info; it's not allowed by CPA. But It would definitely be okay to make a website that's inactive and offline (meaning only viewable on your computer), and the rest like building a website for your potential accounting company, that's just normal.

I would suggest, doing something creative and something you enjoy doing and incorporating that into your studying. You will actually look forward to studying, instead of dreading it. I know I did initially, but then I thought, oh, this is gonna help me! But don't have too much fun, or people will know you're not working hahaha. Also, it might slow you down, depending on your medium. I found that a website was pretty damn great! I tried writing on soccer balls (that didn't work too well). I tried writing on a white board (that also didn't work super well). I tried writing on random green bouncy balls lol that didn't work for me either. Maybe you could a start a blog! *Gasp!* Just remember no CPA case content is allowed to be publicized/distributed/etc. etc..

Capstone 1 - Day 1 of the CFE
Capstone 2 - Day 2 & 3 of the CFE
CFE

I'm prepared to walk on glass or much worse if I can pass the CFE. Have you seen examples of CFE cases? They're scary as hell. Like the assurance role sample I saw was 32 pages of answers. I (figuratively) pooped my pants. Whereas the taxation role was around 20 pages. I noticed the commonality between all the roles was a solid knowledge of IFRS aka F/R. I'll be sure to polish up on that skill.

I also enrolled with CPAformula for a full package. Gooooo them! They're offering a CFE prep course, which I might actually take, because of what I've read from other CFE writers. Apparently, having someone to mark your work and give feedback is really helpful. Yeah, that sounds great... Key word: SOUNDS great. I guess it would be useful. I think a huge reason of why I passed all my past exams, was that I looked HARD at the solutions to cases! So I do want to take their course. I just hope it's the right thing to do. It's gonna be expensive. But apparently you get that money back or something through a tax refund. So, hey maybe the cost will be irrelevant.

I read so many people failed day 1. Pffft, I hope I fail day 1, then I'll only have to write the soft skills portion as opposed to the technical skills (which we all know is essentially harder! Unless of course you're a robot! Shout outs to C-3PO and R2D2!)