vern Powered by Another71.com en-US Wed, 22 May 2013 22:40:24 +0000 http://bbpress.org/?v=1.0.2 q http://www.another71.com/cpa-exam-forum/search.php http://www.another71.com/cpa-exam-forum/topic/alimony-recapture-reg#post-256749 Tue, 05 Mar 2013 23:05:28 +0000 jpat1980 256749@http://www.another71.com/cpa-exam-forum/ <p>here is the formula</p> <p>R3=P1+P2-2(P3)-37,500</p> <p>R3=Recapture for year 3<br /> P=payment for according year</p> <p>Front-loading rules do not apply to amounts tied to business profits. </p> <p>So payments that fluctuate because of a continuing liability to pay a fixed portion of income from business, property, or services are not subject to the excess front-loading rules. So the amount paid in the corresponding year is deductible as is </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/59#post-208546 Fri, 14 Sep 2012 16:53:39 +0000 L-Rawrrr-K 208546@http://www.another71.com/cpa-exam-forum/ <p>Good Luck Lisa_Jane!!!!! This process is absurd and by no means demonstrates how we are as CPA's. Back to nerding I go this weekend!!!! </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-208337 Fri, 14 Sep 2012 08:27:13 +0000 StudyingSucks 208337@http://www.another71.com/cpa-exam-forum/ <p>Thanks, Jeff! Getting both. </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/59#post-208279 Thu, 13 Sep 2012 22:20:10 +0000 Shay 208279@http://www.another71.com/cpa-exam-forum/ <p>Delete this duplicate post </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/59#post-208277 Thu, 13 Sep 2012 22:19:14 +0000 Shay 208277@http://www.another71.com/cpa-exam-forum/ <p>I finished A2 today. Now at A3.2 doing Passmaster. I actually like highlighting. I am actually taking notes from Passmaster than book. Has anyone tried this method before. My thumb really hurts. </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/59#post-208269 Thu, 13 Sep 2012 21:46:15 +0000 M 208269@http://www.another71.com/cpa-exam-forum/ <p>@striving. I found that when I read My mind tends to wonder, unless I read out loud. Which I can't do at the library or sometimes at home. So i'v resorted back to the video's. When I follow Tim withou a highlighter and a pen I get things better. I keep the PDF open or the book and follow/read along. Only for areas I'm struggling with. Got thru with A1 without a problem. </p> <p>Reading was actually taking longer for me. </p> <p>@jpg. Great explanation. </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/59#post-208229 Thu, 13 Sep 2012 18:38:51 +0000 Lisa_Jane 208229@http://www.another71.com/cpa-exam-forum/ <p>@striving4cpa</p> <p>I am experiencing the same thing- when I go through the MCQ I am doing fine. I am re-reading the text and I'm downloading the professional standards from the AICPA site (Like AU 317, etc.) and I'm reading those, too. I'm going to watch the videos again. I think that Audit seems like it wouldn't be tough, but it is very tricky. I'm using Wiley and Yaeger Review. I'll re-test in November and I want to be sure that I pass. </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/59#post-208224 Thu, 13 Sep 2012 18:29:58 +0000 striving4cpa 208224@http://www.another71.com/cpa-exam-forum/ <p>I felt like most of the AUD multiple choice questions were nothing like I worked in the Becker passmaster. The simulations were pretty much a gimme except for one, which I was hoping they would throw out of the grading. Be that as it may, it's time to hit the books again for a second go round on AUD in Oct/Nov testing window. At least I have 4 more windows to pass this one exam before losing credits. I feel like reading the book will do me more good than re-watching the videos again with Tim. If anyone has any other suggestions for me, please send them my way. I'd like to be done this year with everything. Good luck to all!!!!!! </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-208191 Thu, 13 Sep 2012 16:46:23 +0000 Jeff - another71.com 208191@http://www.another71.com/cpa-exam-forum/ <p>Here is some more feedback on the ninja audios ...</p> <p><a href="http://www.another71.com/cpa-exam-forum/forum/ninja-cpa-review" rel="nofollow">http://www.another71.com/cpa-exam-forum/forum/ninja-cpa-review</a> </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-208179 Thu, 13 Sep 2012 16:29:49 +0000 StudyingSucks 208179@http://www.another71.com/cpa-exam-forum/ <p>Hi, I'm using Becker to study for REG and planning on taking the exam at the end of NOV. I'm also going to be using Wiley for additional questions. Would you guys recommend that I get the NINJA notes and/or the audio or you think I should be fine with Becker and Wiley? I don't have any friends or coworkers who've used the NINJA notes and audio before so I would love to hear what you guys think. Thank you! </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-208158 Thu, 13 Sep 2012 15:59:41 +0000 Kirina_Landifa 208158@http://www.another71.com/cpa-exam-forum/ <p>@OnMyWayToCPA, I am allotting a 3-hr daily study program on a working day, and 9 hours on Fridays (off day in Middle East), and by my count I could tally at least about 240 hours overall on Regulation before I take it in mid-Nov. I'm an Asian candidate, and US taxation is something very new to me that's why 65% of the time I would devote to studying tax. </p> <p>There are 2 sections in FAR having weightage of 10 pts each that always come out in the exam; if you are not solid on those 2 yet (you know what those 2 sections are) that is where you could earn the extra points you need to pass. Good luck! </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-208148 Thu, 13 Sep 2012 15:27:15 +0000 momof4 208148@http://www.another71.com/cpa-exam-forum/ <p>Srope,<br /> I took 3 in the last window and 1 in the window before. It was soooooooo close. </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-208133 Thu, 13 Sep 2012 14:12:43 +0000 momof4 208133@http://www.another71.com/cpa-exam-forum/ <p>@UteCPA</p> <p>It is my last section and I got a 74! Can you believe how bad that stinks!<br /> I must admit I knew I needed to study more but I was out of time. I wish I had known the were extending the window. </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-208114 Thu, 13 Sep 2012 13:12:43 +0000 cpatime 208114@http://www.another71.com/cpa-exam-forum/ <p>I'm about to start studying for REG, my final section, for the first time today. I'm scheduled to sit Nov 2nd but I might move it up to October 20th. I need to see how well I progress from now up until Oct 1 though. </p> <p>If it's any easier than FAR then it shouldn't be an issue. </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-208075 Thu, 13 Sep 2012 11:33:56 +0000 srope 208075@http://www.another71.com/cpa-exam-forum/ <p>Ok, I recently took all four CPA exams in the last window and was fortunate enough to pass all of them but REG where I got a 74. And now I have a few questions that I was hoping you all may be able to clear up for me.</p> <p>1: Can nonrecourse debt increase a partner's basis?</p> <p>2: Unrelated business income of exempt entities I found to have very ambiguous questions. Can anyone help clearly define what exactly I may consider unrelated business income? i.e. if I operate a business for disabled people but it is also open to members of the public for a fee that fee revenue would then be considered UBI, correct? </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/59#post-207951 Wed, 12 Sep 2012 22:03:11 +0000 cpaslayapsho 207951@http://www.another71.com/cpa-exam-forum/ <p>Question. I did weaker on the Evaluation and Reporting section of AUD. I translate that to becker chapters 1 and 2, but when I take becker sample tests i do well on those and worse on the last two chapters. anybody else have this issue? It seems prettty clear what Evaluation and Reporting is. </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/59#post-207879 Wed, 12 Sep 2012 18:52:48 +0000 Lisa_Jane 207879@http://www.another71.com/cpa-exam-forum/ <p>@Jpgrocho</p> <p>Wow- thanks so much- your explanation is excellent. As I'm re-working the multis in Wiley Module 2 I'm getting more questions on this topic and they are referring to sample sizes, etc. It is starting to make sense. No wonder I didn't pass the exam in August! </p> <p>Thanks again for taking the time to respond! </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/59#post-207875 Wed, 12 Sep 2012 18:49:40 +0000 Lisa_Jane 207875@http://www.another71.com/cpa-exam-forum/ <p>@L-Rawrrr-K<br /> I feel your pain- I got a 70, too. I had not opened an Audit textbook for 7 years and probably didn't study enough. I also didn't memorize the reports that I was told to memorize. This time I will memorize everything I can. Good luck to both of us for the re-test- mine will be November. </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/58#post-207836 Wed, 12 Sep 2012 17:30:30 +0000 Jpgrocho 207836@http://www.another71.com/cpa-exam-forum/ <p>The first statement relates to setting materiality at the smallest aggregate level (sometimes there are more than one level of materiality relating to the financial statements…you would use the smallest materiality level out of the samples)</p> <p>Second statement is referring to obtaining assurance that your audit is planned to detect misstatements that are large enough to surpass materiality level that was determined from “the above statement”. If it was a "small" misstatement, the misstatement would not be material if that makes sense. We are only providing reasonable assurance that material misstatements are detected..not all misstatements. </p> <p>Quick and short….<br /> I am horrible at explaining things. Sorry. I really hope this helps. </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/58#post-207795 Wed, 12 Sep 2012 16:25:29 +0000 rickycpa 207795@http://www.another71.com/cpa-exam-forum/ <p>Guys, I have a question regarding subsequent events. </p> <p>For type 1 event, the financial statements need to be adjusted. For example, contingent liabilities settlement after B/S date but it arised before the B/S. Would you just adjust the liabilities amount on the B/S ? Or you need to adjust the expense account for settlement as well? Since when the company booked it, it would be like dr liabilities expense cr.contingent liability</p> <p>Much thanks. </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/58#post-207781 Wed, 12 Sep 2012 16:09:40 +0000 L-Rawrrr-K 207781@http://www.another71.com/cpa-exam-forum/ <p>I took AUD on 8/28 and I found out Monday I got a big fat 70. I signed up today to retake AUD on 10/1. I only had 2 weeks to prepare for AUD and had not looked at the material since May 2010; so I can't really complain. Although I did pass it in 2010. For fun, the AICPA wants me to pass AUD again because they love money, my money. All of it. They know that if they fail me, I sign up as soon as possible. Punks!</p> <p>See you kids at the finish line.... Rawrrrrrrrrrrrrrr </p> http://www.another71.com/cpa-exam-forum/topic/aud-cpa-exam-review-2011/page/58#post-207724 Wed, 12 Sep 2012 14:53:26 +0000 Lisa_Jane 207724@http://www.another71.com/cpa-exam-forum/ <p>I am very confused. This was the answer to a multiple choice question in Wiley:</p> <p>“The auditor considers materiality for planning purposes in terms of the smallest aggregate amount of misstatement that could be material to any one of the financial statements.”</p> <p>This is a statement in the Wiley text:</p> <p>“The auditor plans the audit to obtain reasonable assurance of detecting misstatements that could be large enough, individually or when combined, to be quantitatively material to the financial statements.”</p> <p>They seem to contradict each other. I’m totally confused- can someone explain the difference to me? </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-207606 Wed, 12 Sep 2012 12:39:28 +0000 518cpa 207606@http://www.another71.com/cpa-exam-forum/ <p>@ute, i got a 71 my first time taking REG.. on my retake i just went through all of the MC again and took progress tests. its already fresh and your not far away from passing, so going through everything a few more times should solidify it for ya </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-207584 Wed, 12 Sep 2012 12:27:04 +0000 UteCPA 207584@http://www.another71.com/cpa-exam-forum/ <p>F**K REG. It is my last test and I just found out I got a 72. I used Becker 2011 materials. How do you all suggest I go about getting ready for the retake? </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-207070 Tue, 11 Sep 2012 17:20:42 +0000 Keely 207070@http://www.another71.com/cpa-exam-forum/ <p>@CPAski, I would read the Becker book multiple times and take notes while you go. It's a painstaking process, but worth it. Redo the MCQs a few times and figure out your weaker areas. </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-207052 Tue, 11 Sep 2012 16:52:57 +0000 CPAski 207052@http://www.another71.com/cpa-exam-forum/ <p>REG is my first retake and was wondering how did some of you pass it the 2nd time around? These are my strategies the 2nd go around.</p> <p>- Reread Becker book with emphasis in tax areas.<br /> - Purchase Wiley test bank to supplement with Ninja Notes ( did not use to my advantage the first time around even though I had it)<br /> - Focus on weaker areas: property transaction/estate/trust, mainly tax portion since i did well in blaw</p> <p>Are there anything else I should do differently that you guys would like to add? I plan on retaking it at the end of October or maybe sooner. Thank you! </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-206939 Tue, 11 Sep 2012 14:56:50 +0000 OnMyWayToCPA 206939@http://www.another71.com/cpa-exam-forum/ <p>How long are you all giving yourselves to study for REG?</p> <p> I had my schedule down to 8 weeks for FAR and 6 for REG but its looking like I may need 9 weeks for FAR which will only give me 5 weeks for REG</p> <p>Is anyone studying for REG for 5 weeks or less? I work full time so I could probably only bank about 130 hours of study time total.</p> <p>Or should I just ramp it into high gear for FAR and take it as I originally scheduled it? </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-206838 Tue, 11 Sep 2012 13:42:55 +0000 Kirina_Landifa 206838@http://www.another71.com/cpa-exam-forum/ <p>I am a CO-registered Middle East-based candidate currently preparing for REG. I would like to seek your opinion if review materials (CPAexcel and Wiley Testbank) would be sufficient to prepare for the tough REG. I am thinking of supplementing my materials with a textbook on Tax, but do not know if this is a good idea, noting that I intend to take the exam around 22nd or so in Nov. When I took FAR I never imagined that questions would be limited to test of basic concepts, with only a handful that one may consider challenging. Is it also the same for REG? </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-206804 Tue, 11 Sep 2012 13:20:51 +0000 kh217 206804@http://www.another71.com/cpa-exam-forum/ <p>Katydid- Yeah I think I am going to get the Wiley test bank. I feel like I've memorized the answers to too many of CPAexcel's questions, so I think it would help! </p> http://www.another71.com/cpa-exam-forum/topic/reg-cpa-exam-review-2011/page/66#post-206759 Tue, 11 Sep 2012 12:40:04 +0000 Katydid 206759@http://www.another71.com/cpa-exam-forum/ <p>kh217-We're in the same boat. I failed with a 72. Simulations are what got me, and I've been using becker. Although, I can't complain about becker, I think they did an adequate job with simulations. I failed to spend more time on them. I've been debating doing the Wiley test bank. It has over 1100 MCQs and 40 simulations. </p>