CLA Facts & Figures
"CLA" is short for the firm's formal name.
What is CliftonLarsonAllen LLP
All individual taxpayers must complete this basic tax form annually
What is a Form 1040
**TRUE OR FALSE**
It's ok to wear jeans to an interview
False
Does GAAP require the accrual or cash basis of accounting?
Accrual
The CPA exam consists of this many sections
4, four-hour sections
Auditing and Attestation (AUD)
Business Environment and Concepts (BEC)
Financial Accounting and Reporting (FAR)
Regulation (REG)
CLA has office locations in all of the following, except:
A. East Coast
B. West Coast
C. Midwest
D. Canada
What is Canada
Willful failure to pay taxes is called
What is tax evasion
The number of questions you should be prepared to ask at the end of an interview:
A. 0, aren't they interviewing me?
B. 1
C. 3
D. 10
The three branches of accounting:
A. Legislative, Executive, Judicial
B. Financial, Management, Cost
C. Corporate, Financial, Investment
B. Financial Accounting, Management Accounting, Cost Accounting
What are the 2 criteria for passing the exams
you must pass all 4 parts within 18 months; you must earn a minimum of 75% on each part
In CLA's branding & marketing strategy, we use the "CLA" logo and often times another image (hint: it is a mode of transportation)
What is a bicycle
An individual taxpayer must file their income tax return by this date
What is April 15th
**TRUE OR FALSE**
It's ok to take notes during an interview?
True
The term used to explain how quickly a company can convert assets into cash
What is liquidity
The CPA exam review course CLA provides to committed campus hires at no cost:
A. Becker
B. Surgent
C. Gleim
D. UWorld Roger
A. Becker
Many companies refer to their people as "employees", however the people at CLA go by this name.
What are family members
The name of the Act passed on March 27, 2020 in response to the economic fallout.
What is the CARES Act: Coronavirus Aid, Relief and Economic Security Act
This is the number of hours you should commit to preparing for an interview:
A. 10
B. 7
C. 3
D. 5
A. 10
According to AICPA, you should spend:
20% researching,
40% thinking about potential questions + answers,
40% writing out your answer and practicing out loud
The 3 major types of assurance engagements public accounting firms offer to clients
What are Audits, Reviews, Compilations
The bonus you are eligible for when you pass all 4 sections of the CPA
A. 10,000
B. 4,000
C. 2,000
D. 1,000
C. $2,000
$2,000 to family members (no eligibility expiration).
*CLA will offer a larger one-time post-exam bonus of $3,000 to family members that successfully pass the CPA Exam within their first year of employment*.
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+ CLA will offer a one-time pre-exam bonus of $2,250 to help cover the cost of exam fees.
CLA employs approximately this many family members:
A. 2,000
B. 3,000
C. 8,500
D. 10,000
What is C. = 8,500
This type of entity generally involves one founder and owner, and is reported on schedule C of that individual's tax return
What is a sole proprietor
This is considered most critical step in the interview process.
Follow Up!
There are many types of financial statements, list 2
What are balance sheets, income statement, statement of income, statement of operations, cash flow statement, statement of equity, statement of comprehensive income
The number of Educational Hours required for CPA Licensure in Maryland
150 semester hours