[Anonymous]

I hate it. I hate it. I hate it.

Rant over.

I’m sure others feel the same way.

[Anonymous]

This may help:

https://www.another71.com/cpa-exam-forum/topic/help-needed-deferred-tax-liabilityasset-classification

[Anonymous]

This may help:

https://www.another71.com/cpa-exam-forum/topic/help-needed-deferred-tax-liabilityasset-classification

[Anonymous]

Thanks I saw that post. I understand it for the most part. I just find that some of Wiley's mcqs are just really tricky. Mcqs that I doubt I'll see on exam day.

The Wiley sims for this section were definitely do able.

[Anonymous]

Thanks I saw that post. I understand it for the most part. I just find that some of Wiley's mcqs are just really tricky. Mcqs that I doubt I'll see on exam day.

The Wiley sims for this section were definitely do able.

[CPA soon]

Lol I kept flipping my deferred tax assets and liabilities until I chose to stop wasting my time on it and move on.. It's a pain in the neck.

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[CPA soon]

Lol I kept flipping my deferred tax assets and liabilities until I chose to stop wasting my time on it and move on.. It's a pain in the neck.

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[NJPRU]

I remember this – as Ive said in the FAR thread..

DTL = Revenue in the FS are higher than the tax return and Expenses in the FS are lower than the tax return

(draw yourself a picture with an “R” and an up arrow, and “E” with a down arrow)

DTA = Revenue in the FS are lower than the tax return and Expenses in the FS are higher than the tax return

(draw yourself a picture with an “R” and an down arrow, and “E” with a up arrow)

Now, remember that the Current Expense or Current Portion is equal to the Taxable Income x the tax rate, and the Deferred tax expense is equal to the net change in DTA and DTL.

Other things I chose to remember is that GAAP is accrual and Tax is Modified Cash.. disclosure items like netting Noncurrent DTA/DTL and Current DTA/DTL.. as well as some of the permanent differences..

With these things, I'm able to complete the majority of my Gleim Tax questions.. I hope this helps.

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[NJPRU]

I remember this – as Ive said in the FAR thread..

DTL = Revenue in the FS are higher than the tax return and Expenses in the FS are lower than the tax return

(draw yourself a picture with an “R” and an up arrow, and “E” with a down arrow)

DTA = Revenue in the FS are lower than the tax return and Expenses in the FS are higher than the tax return

(draw yourself a picture with an “R” and an down arrow, and “E” with a up arrow)

Now, remember that the Current Expense or Current Portion is equal to the Taxable Income x the tax rate, and the Deferred tax expense is equal to the net change in DTA and DTL.

Other things I chose to remember is that GAAP is accrual and Tax is Modified Cash.. disclosure items like netting Noncurrent DTA/DTL and Current DTA/DTL.. as well as some of the permanent differences..

With these things, I'm able to complete the majority of my Gleim Tax questions.. I hope this helps.

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[Anonymous]

NJPRU! You're the one I quoted in my comments in the link. Great advice you gave in the FAR thread!

[Anonymous]

NJPRU! You're the one I quoted in my comments in the link. Great advice you gave in the FAR thread!

[Kimboroni]

It would be so much easier if they just made GAAP and IRC the same!!!!

AUD 84 (1/9/14-Wiley books/TB + free materials)
FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. 🙂

[Kimboroni]

It would be so much easier if they just made GAAP and IRC the same!!!!

AUD 84 (1/9/14-Wiley books/TB + free materials)
FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. 🙂

[CPA soon]

It would be so much easier if they would give me a cpa exam waiver and just give me the license already ;D

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[CPA soon]

It would be so much easier if they would give me a cpa exam waiver and just give me the license already ;D

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[Anonymous]

I was feeling the same when I started working on F6 early this week considering it's my 3rd time to study FAR. I thought of the man whom I saw on the video who goes crazy, screams wildly, and runs away like he is going to hang himself up.

Initially, when I was tackling the MCQs, I kept getting most of the questions wrong. I was so frustrated of those wordy questions. I closed the HW part and just walked away from my computer. How am I going to tackle it now? I decided to review my intermediate accounting textbook.

I wrote down all the examples of taxable and deductible items and classified them appropriately. I created a 2-column table for all DTL & DTA with 2 rows containing Taxable Revenues Later, Deductible Expenses Now, Deductible Expenses Later, and Taxable Revenues Now. Then, I committed them all to memory.

On my next HW attempt , I improved a lot. I was getting the correct answers although my solution was different from the format of Becker's explanation. I was so pleased that at least, finally I understood the concept. Out of remaining 60 questions, I got 78% correct, which to me was a huge leap. Thanks to the Temporary Differences table I created!

[Author]

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