[jeff]

NINJA Question –

NoCoast

nosleep135

scar17

BlakeK77

AGamble

tami3492

CTM

chrisli1217

pankaj7

NJPRU

dragonslayer1

Jenks1022

Congrats! I’ve emailed each of you – thanks again everyone for participating!

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[jeff]

Here are the original posts with answers:

REG https://www.another71.com/cpa-exam-forum/topic/test-your-might-reg-ninja-mcq-giveaway-x-3

FAR https://www.another71.com/cpa-exam-forum/topic/test-your-might-far-ninja-mcq-giveaway-x-3

BEC https://www.another71.com/cpa-exam-forum/topic/test-your-might-bec-ninja-mcq-giveaway-x3

AUD https://www.another71.com/cpa-exam-forum/topic/test-your-might-aud-ninja-mcq-giveaway-x-3

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Determined CPA]

Jeff, for FAR, isn't the explanation leaning towards C?

2. Which of the following disclosures should prospective financial statements include?

A. Summary of significant accounting policies

B. Summary of significant assumptions

C. Both summary of significant accounting policies and summary of significant assumptions

D. Neither summary of significant accounting policies nor summary of significant assumptions

Answer: B

The AICPA's “Statement of Standards for Accountants' Services on Prospective Financial Information” governs the preparation of prospective financial statements. It requires that accountants provide summaries of the significant accounting policies and the assumptions used to prepare these forward-looking statements. The same full disclosure principle that guides the preparation of historical financial statements applies to the reporting of prospective financial statements.

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[jeff]

You are correct – the answer in NINJA is actually C. That's my goof!

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Anonymous]

I thought the significant policies “could” be disclosed but weren't required… I was under the impression that the significant assumptions were the only “required” disclosure (relatively) and thus “should” be disclosed. Interested in more info on this one if available.

[Vickkki]

Hi Jeff!

Please check and recheck your posted answer to question 1 of the BEC quiz!

I am sure there was an error. Your “solved” answer was 27.5% (choice C) yet you chose choice A (10%) as the correct choice.

[Jenny]

Feel Free to give me your winnings 🙂

AUD - 76
BEC - 86
FAR - 76
REG - 76

Oklahoma CPA

 

Oklahoma Candidate
AUD - Pass (8/14)
FAR - Pass (11/14)
REG - Pass (2/15)
BEC - Pass (11/15)
Ethics Exam - Pass (12/15)

[jeff]

Vickkki – you're right – I'm all sorts of messed up 🙂

Yes – it's C

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[tami3492]

Hi Jeff, I checked my email and I haven't gotten an email. Thanks, Tami

FAR 7/8/14 - 88 - Becker live course
REG 10/14/14 - 82 - Becker live course, Ninja notes and audio
BEC 11/25/14 - 88 - Becker live course, Ninja audio, Wiley book for extra questions
AUD 2/3/15 - 94 - Becker self study, Ninja audio, Wiley book for extra questions

[solescpajourney]

Congrats to the winners! I really could have used this just I'm just getting started but I'm happy for you all! 🙂

[Author]

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