REG SIMS preparation

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  • #190433
    Anonymous
    Inactive

    My test is on Saturday and I haven’t practiced SIMS a whole lot. I just skimmed through the Becker SIMS and the lengthy questions seem overwhelming and at this point, I am not sure if I should spend a lot of time on them. Question is, would I rather pound on MCQ’s from now until exam day or spend time on SIMS?

Viewing 15 replies - 1 through 15 (of 18 total)
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  • #620507
    REGTaker
    Member

    My test is on Saturday too. I worked a lot of the Ninja SIMS, but I really think knowing what constitutes other income, special deductions, etc are the way to go. Study your notes and know the lists of items and where they would go on returns. Know how the different company structures treat capital gains/losses/distributions/liquidations. Know what is deductible and what isn't for individuals/corporations. Know what flows through to individuals. Understand AMT. And be sure to utilize the IRC/AL for every question, not just the research one and I think you'll do fine. I'm spending the next two days focusing on concepts and noting differences/lists of items. My brain can't comprehend anymore of those long questions. Good luck to both of us!

    #621507
    REGTaker
    Member

    My test is on Saturday too. I worked a lot of the Ninja SIMS, but I really think knowing what constitutes other income, special deductions, etc are the way to go. Study your notes and know the lists of items and where they would go on returns. Know how the different company structures treat capital gains/losses/distributions/liquidations. Know what is deductible and what isn't for individuals/corporations. Know what flows through to individuals. Understand AMT. And be sure to utilize the IRC/AL for every question, not just the research one and I think you'll do fine. I'm spending the next two days focusing on concepts and noting differences/lists of items. My brain can't comprehend anymore of those long questions. Good luck to both of us!

    #620509
    liz18lsu
    Member

    Before I took (and passed) REG, I would have agreed that everything you just said would be important to know. How wrong I was! I felt like they forgot there was supposed to be any tax on the exam!

    AUD - 88
    REG - 86
    BEC - 74, 1/2015
    FAR - 2/2015

    #621509
    liz18lsu
    Member

    Before I took (and passed) REG, I would have agreed that everything you just said would be important to know. How wrong I was! I felt like they forgot there was supposed to be any tax on the exam!

    AUD - 88
    REG - 86
    BEC - 74, 1/2015
    FAR - 2/2015

    #620510
    hneagle1
    Member

    I would say focus on the MCQ. Putting too much effort into the SIMS might overwhelm you if you are taking the exam on Saturday. I would, however, focus time on browsing around the authoritative literature….there is a ton of helpful helpful things in their that helped me on my last exam!

    FAR - 82 (8/30/14)
    AUD - 95 (10/7/14)
    REG - 82 (11/7/14)
    BEC - 85 (11/26/14) - PEACE OUT!
    Roger CPA, WTB, Becker, and Ninja Notes (with added prayer, tears, and hope!)

    #621510
    hneagle1
    Member

    I would say focus on the MCQ. Putting too much effort into the SIMS might overwhelm you if you are taking the exam on Saturday. I would, however, focus time on browsing around the authoritative literature….there is a ton of helpful helpful things in their that helped me on my last exam!

    FAR - 82 (8/30/14)
    AUD - 95 (10/7/14)
    REG - 82 (11/7/14)
    BEC - 85 (11/26/14) - PEACE OUT!
    Roger CPA, WTB, Becker, and Ninja Notes (with added prayer, tears, and hope!)

    #620511
    REGTaker
    Member

    I just took a sample test from the AICPA's website. There are 5 MCQ and 4 SIMS. They are a good representation of what you will probably see on the exam.

    https://www.aicpa.org/BecomeACPA/CPAExam/Pages/CPAExam.aspx

    #621511
    REGTaker
    Member

    I just took a sample test from the AICPA's website. There are 5 MCQ and 4 SIMS. They are a good representation of what you will probably see on the exam.

    https://www.aicpa.org/BecomeACPA/CPAExam/Pages/CPAExam.aspx

    #620512
    Anonymous
    Inactive

    MCQ

    #621512
    Anonymous
    Inactive

    MCQ

    #620513
    Anonymous
    Inactive

    Thanks guys. MCQs it is. @regtaker – thanks for the link. I will try these out.

    #621513
    Anonymous
    Inactive

    Thanks guys. MCQs it is. @regtaker – thanks for the link. I will try these out.

    #620514
    Anonymous
    Inactive

    Thanks guys. MCQs it is. @regtaker – thanks for the link. I will try these out.

    #621514
    Anonymous
    Inactive

    Thanks guys. MCQs it is. @regtaker – thanks for the link. I will try these out.

    #620515
    Anonymous
    Inactive

    I focused on the MCQ and eventually got sick of it and switched to just rereading my chapters (I used Gleim). I tried my best to learn the differences between the different types of tax returns and their due dates/extensions since I was pretty strong in business law and was having trouble with a few tax return types. I didn't bother memorizing an actual tax return form though; instead, I just focused on the key aspects of each. I figured that the simulations could be just about anything and that if I focus on the basics in the areas I was weak that I'll have a better shot at getting most of a simulation question correct. I passed, so it worked for me in this instance.

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