[knicks92]

So I am finishing up going through R8 and am planning on beginning my official final review Monday/Tuesday. I feel pretty comfortable with Tax, but it still intimidates me. I think I will be in good shape tho after reviewing with the time i have left. I do not feel as confident with Business Law, but that is probably expected because I went over all 3 sections of it in just one week. I figure though since its only 20% max (so maybe 15 MC at most?) I shouldnt worry too much about it. I have gotten in the high 60s to low 70s on average on my first attempt on the homeworks in Becker

For those who have taken/beat REG recently, how would you recommend I review my last 2 weeks. I was planning on taking one Becker final practice exam before I review at all just to see where I am an than go through each chapter of my notes while doing questions out of wiley (i feel like i have memorized all of my becker questions at this point). Than I can do my last Becker exam a few days before the exam. Are there any specific topics I should look out for and how concerned should i be about business law? I read a lot of comments about people who said that business law is something not to underestimate. I cant believe the quantity of information is so much for such a small percentage of the exam compared to tax.

I have only been preparing for 3 weeks full time since my NTS is expiring soon. I feel like this section is one of those where if more time to study was an option everyone would take it. Tax is my least favorite thing in the world and i need to beat this because i simply refuse to ever look at a tax book ever again in my life.

Tough times don't last. Tough people do.

B: 88
A: 77
R: 89
F:

[s2sylvir]

First, believe in yourself. You've got this.

Second, the blaw questions in my opinion could be answered with just a basic understanding of the overarching concepts. So maybe do the questions over again once or twice. Spend a whole day on them.

Dedicate the rest of your time on individuals and corporations. Make note of commonalities and differences between individual and business laws (like charitable deductions, carryforward/backs, AMT, etc). The last thing you want is to get a question wrong because you answered a corporate question with the rules applicable to individual tax rules. Fully understand basis and gains of contributions, distributions, and taxable income (make sure it's not the Becker questions themselves you've memorized but the concepts of arriving at the right answer).

And you should be good to go. Good luck!

BEC - PASS (79)
AUD - PASS (63, 71, 74, 74, 83)
REG - PASS (88)
FAR - PASS (58, 89)

Becker for all + FAR 10 Point Combo

[Mika]

if you have spare cash, spent $47 to get the ninjamcq,you wont regret.

REG - 80 (02/13/2015) Roger + Ninja Flash Card + Ninja MCQ + Becker's Note
FAR - 84 (05/29/2015) Roger + Ninja MCQ + Some Wiley book questions
BEC - 77 (08/27/2015) Roger + Ninja MCQ + Half Wiley book questions
AUD - 87 (08/28/2015) Roger + Ninja MCQ + Half Wiley book questions

[Marlya]

For your final review make sure you understand the differences between LLC, LLP S Corps, C corps, etc. You need to have a good understanding on how they are taxed differently, or in some cases the same. I drew a chart and marked the differences and similarities and it helped me memorize them.

Also, as previously stated make sure you fully understand the difference between REALIZED and RECOGNIZED gains (as well as basis), and I can't stress enough to make sure you read the question carefully because both answers will be given so if you read too fast and you see your answer you will think you are right, BE CAREFUL.

Definitely do one of the Becker final practice exams just to see your weak areas and drill down on those. You have enough time to get through this. It sounds like you're in a really good spot ~ Good Luck!!!

BEC - 66, 77 (3/14* expired), 82 (11/15)
AUD - 58 (4/14), 76 (8/14)
REG - 75 (6/14)
FAR - 72 (11/14), 67 (1/15), 68 (5/15), 68 (7/15), 80!!!! (11/15)

Licensed Florida CPA. God is Good!!

[Anonymous]

For your Bus Law review – it is only 20%, but just remember that those are usually all MC. I got some easy points by knowing some of those concepts (which were tough). I agree with the prior posters – know Realized vs Recognized and the differences between LLCs, C Corps, S Corps, and partnerships (especially basis).

Taking the practice exams always bummed me out – I just keep pushing the MCQs and really understanding the questions I get wrong. Also, the REG study group helped a ton – I really believe the only reason I passed were because of all the study sessions we did! Good luck – you can do this!!!

[knicks92]

thanks for all the advice everyone. i am a little nervous because i did a progress test and was surprised by how much of tax i forgot so these next couple of days are very crucial. hopefully just constant MC will help along with reviewing the notes that i have. i just cant wait for the test to be over!

Tough times don't last. Tough people do.

B: 88
A: 77
R: 89
F:

[Tux]

I'm taking REG in Feb, also.

I want to keep up with any other advice that others have to share.

I'm seeing different breakout percentages regarding how much of the exam is actually bus. law.

This posting says it's 20%

Another one says it's 40%

I'm not sure what to expect. Business law is my weaker topic as compared to tax. But, I need more study time on everything, actually.

FAR - 86 - 2/27/14
AUD - 75 - 5/29/14
BEC - 80 - 8/31/14
REG - 89 - 2/27/15
Praise Jesus! I'm done!!

Study resources:
Becker
Wiley test bank

[Gabe]

https://www.aicpa.org/BecomeACPA/CPAExam/ExaminationContent/ContentAndSkills/DownloadableDocuments/CSOs-SSOs-Effective-Jan-2015.pdf

Blaw 17-21%

I think, based on the REG experience thread, Blaw is maybe a bit more emphasized this quarter?

CPA, CFE
CISA- Experience will be completed by August 2016

[knicks92]

From what i know, ethics is about 17%, which i think is fine because it is not difficult and a lot of it is common sense. On the other hand, business law is about 20%, which i find to be ridiculous since the amount of material to be familiar with is equal or arguably more than the material for tax. Some of the practice questions I have been doing for business law are also super specific and extremely difficult (ex: it would be nearly impossible to make an educated guess without being familiar with the material). A lot of people have told me that business law can make or break it for you, which frustrates me even more since tax by itself is already extremely difficult. What would be fair is to either decrease the amount of information in business law or increase its percentage and decrease the tax percentage. But it doesnt really matter what i think. All i know is i cannot wait for this exam to be over.

I have about 9 days until my exam and have just begun reviewing.

I dont mean to sound whiny/complain about anything. Obviously its all fair and possible since so many people have been able to beat REG. I guess i am just going a little crazy over here since tax has taken over my life.

Tough times don't last. Tough people do.

B: 88
A: 77
R: 89
F:

[Gabe]

@knicks couldn't agree more. I just sat at the end of January and beefed up on Blaw because of what I read in the REG experience thread. Bottom line: you're not going to know everything. I would say know your tax stuff cold, and know as much Blaw as possible. Like you said, ethics is kind of common sense. Good luck!

CPA, CFE
CISA- Experience will be completed by August 2016

[knicks92]

yea i agree @gabe. REG seems to be one of those topics where most people will never feel 100% confident going into the exam and if given more time to prepare for the exam, most people will take that opportunity. Also for most people, your bound to run into questions during the exam that just drive you nuts and make you freak out.

I have been studying full time for almost a month and am just so sick of this material.

What material did you use to prepare? I solely relied on Becker, but I also recently borrowed a wiley book since i feel like repeating the becker questions at this point is getting pointless and it would be good practice to try questions from a different source

Tough times don't last. Tough people do.

B: 88
A: 77
R: 89
F:

[san4596]

2 Major things to know backwards and forwards: 1) Like-Kind-Exchange 2) Know how to handle transactions with BOOT!

Other than that: Div. Rec. Ded, Individual and Corporate AMT, and above the line deductions.

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[Gabe]

I used Becker and Ninja. Started repeating Becker questions then moved to Ninja…I got to a point where I was really comfortable, then the exam threw me. I don't know. I feel like Becker gives you overly complicated questions so when you sit and see a “simple” question you think, this must be a trick! Anyway, I've heard Wiley is good. I think having a second test bank never hurts.

Also agree with @san like kind exchanges seem to be a favorite topic for whatever reason…

CPA, CFE
CISA- Experience will be completed by August 2016

[knicks92]

@gabe…completely agree. For BEC (the only exam ive taken) i was overthinking a lot of questions when i didnt need to because of Becker's methods. It made me think i did really poorly but everything turned out okay.

Obviously REG is a whole different beast. I plan on attacking tax until super bowl sunday than doing REG becker practice exams and looking over business law the week of the exam.

Tough times don't last. Tough people do.

B: 88
A: 77
R: 89
F:

[Gabe]

Sounds like a plan! Good luck!

CPA, CFE
CISA- Experience will be completed by August 2016

[Mika]

agree with Gabe

You wont be 100% prepare…

REG - 80 (02/13/2015) Roger + Ninja Flash Card + Ninja MCQ + Becker's Note
FAR - 84 (05/29/2015) Roger + Ninja MCQ + Some Wiley book questions
BEC - 77 (08/27/2015) Roger + Ninja MCQ + Half Wiley book questions
AUD - 87 (08/28/2015) Roger + Ninja MCQ + Half Wiley book questions

[Author]

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