Self-assessment exam.

Catalyst -- March/April 2006

Earn convenient CPE credit with the Catalyst CPE exam. Answer the 25 required questions based on content in Catalyst: The Leading Edge of Ohio Business and submit your answers to The Ohio Society of CPAs. Receive a grade of 75 percent or better and earn two hours of CPE credit. Permission to provide CPE credit has been granted by the Accountancy Board of Ohio.

The grading process is handled in a confidential manner. Respondents will be notified by e-mail of their exam results.

Costs ONLINE PRINT MEMBERS $25 $30 NON-MEMBERS $35 $40 Print Instructions

1. Detach the exam insert from Catalyst and tear along the center perforation.

2. Take the exam as an open-book test, recording your answers on the answer sheet by filling in the appropriate circle (pen or pencil is fine).

3. Then, fill out the registration information below.

   Please print clearly.

4. Payment must be submitted with the exam: $30 for members, $40 for non-members. Make checks payable to: The Ohio Society of CPAs.

5. Mail this page, along with your payment, in an envelope to:

   The Ohio Society of CPAs

   Catalyst Exam

   P.O. Box 1810

   Dublin, OH 43017-7810

   Online Instructions

1. Go to www.ohioscpa.com.

2. Click on "CPE & Events."

3. Click on the link for "Self-Study & Web-based," and then "Self-Assessment Exams." This will provide links to all active exams.

4. Complete the exam and click "Submit" when you are finished.

5. Print the confirmation for your records.

   * This exam must be received by The Ohio Society by Feb. 28,2007. Exams postmarked after Feb. 28,2007 will be returned.

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   Self Assessment Exam Results

   The Ohio Society sends test results via e-mail. Please provide a current e-mail address in the space provided. Respondents who passed with a grade of 75 percent or better qualify for two hours of CPE credit in specialized knowledge, as approved by the Accountancy Board of Ohio.

   Exam Questions for Catalyst -- March/April 2006

   (Please choose the best answer to each question)

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   Beyond our borders: International business and Ohio

1. According to the Origin of Movement State Export Series, Ohio's exports during 2004 ranked:

   1. Sixth out of the 50 states

   2. Eighth out of the 50 states

   3. Third out of the 50 states

   4. Fifth out of the 50 states.

2. Which of the following countries was the No. 1 destination for Ohio's exports during 2004?

   1. Mexico

   2. England

   3. Canada

   4. France.

3. Gary Sandefur, director of accounting for R.G. Barry Corporation, identifies areas in which CPAs can help in terms of foreign trade. Which one of the following is not included in this list?

   1. Financial reporting on foreign operations and multi-currency activities

   2. Price negotiations with key foreign customers

   3. Logistic freight movement and management

   4. Tax reporting requirements.

4. According to the author, a company cannot expect to be effective beyond U.S. borders without an understanding of a country's:

   1. Culture

   2. Politics

   3. Cross-border issues

   4. Current best practices.

5. According to David Wolfe, CPA, shareholder of Rea and Associates, clients with an international presence can help CPAs work more efficiently by:

   1. Preparing monthly financial statements

   2. Preparing a "flash report" of the single key variable affecting the business

   3. Avoiding the use of industry comparisons when preparing financial reports

   4. Preparing and using an updated cash flow budget.

6. The No. 1 mistake clients make when engaged in international business is their failure to understand:

   1. The potential "traps" when negotiating with foreign customers

   2. The payment terms offered in the business transaction

   3. The nuances of the collection process

   4. The business climate of the foreign country.

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