I am taking REG in May, and I am wondering if anyone just took the exam could share with me what's important to study for this exam.
I really appreciate your advice. Thanks!
- Fan
-
You do have to know a little about everything. I saw a bit of everything on my exam as well. If I had to state a few talking points to hit hard though:
Basis - partnership, corporate - both going into the business, coming out, and during liquidation. If you can't do this I am not sure how you pass this section.
Gift/Inheritance basis and gain/loss calculations
Don't skimp on the ethics/professional responsibility. These topics should be easy points if you put a little effort in
Ditto the above on the law questions. I'd say half of my MC questions were on law topics.
Read my first item again....basis....know it, love it, if you ain't dreaming about basis you need to look at it more
RTCDQ!!.......Read the Cocka-Doody Question!
AUD-94; REG-97; BEC-93; FAR-94
see how I did it day by day: http://cpa-exam.dalesines.com
contact info on blogPosted 2 years ago # -
CapitalGains
offlineMemberIn short: corporate, individual, and partnership tax, ethics and securities laws, and just about any tax question involving basis of some sort. Business law is about 20-25% but there are a ton of topics within that.
AUD: 97, FAR: 96, BEC: 93, REG: 99, Ethics: 100 (laugh)Posted 2 years ago # -
vwchic05
offlineMemberfanfan22- I took REG this weekend, and you just really have to now a little of everything. Just don't forget to also brush up on your ethics. There were quite a few questions that came out on accountant's responsibilities. Also don't forget your business law and UCC. Good luck!
REG-77 BEC-76 AUD(8/31) FAR(11/30)Posted 2 years ago # -
Givemesleep
offlineMemberI took and passed REG, took and waiting for BEC. I would say of the three parts I have been involved with, REG requires knowing most of the information really well. No need to study phase-outs or exemption amounts, just understand the theory. With no real life tax prep experience it would be a real tough part. As with all the parts, dont memorize, do thousands of MCQ's. For Reg I did 3700+ for BEC, I was shocked when looking back I did 4200+. It's the MCQ's over and over and over just like many posters have said in the past. Keep at, my friend. If I did, anyone can, seriously.
Reg 11/15/2011 - 80
Aud 02/28/2012 - 81
Bec 05/31/2012 - retake
Far 08/31/2012
GivemesleepPosted 4 months ago # -
gns121584
offlineMember@fanfan -- I took REG yesterday and what I thought I may see and what is said to be heavily tested really was not. I did try and really obtain an understanding of areas that weren't bolded or as important in my study material, so I think that helped me with my multiple choice. Definitely have a good understanding of business law. There are quite a few multiple choice questions on B law. Know the details, E and P, M1'S, basis, gain/loss rules, Deductions, Credits, AMT, etc but make sure you touch on everything your material includes at least a little even if you don't think it is going to be a major topic on the exam. I was not very happy about my SIMS. Two of them I really didn't know at all. I knew the main topic it was testing on but wording was very confusing in problems. Sorry if this wasn't specific, but I guess my point is to try and know the details and a little about as much as you possibly can. Good luck to you!!
AUD - PASSED - 84 -(11/21/11)
REG - PASSED - 83 -(1/17/12)
BEC - PASSED - 86 -(2/28/12)
FAR - PASSED - 84 -(5/14/12)
I AM DONE!!!!Posted 4 months ago #
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