Yaeger CPA Cram DVD: REG – Partnerships
I began Wiley module 35 – Partnership Taxation this morning. I worked an hour and a half holed-up in a conference room during lunch, and then another two hours after work.
I was proficient at some aspects of partnerships, but after watching Yaeger’s cram DVD section over it and working through the Wiley book with Dr. Yaeger, I have it nailed down. I did 32 multiple choice questions that Dr. Yaeger lists as an assignment and I scored a 94%. One of the the things that I like about Dr. Yaeger is that when he goes over a multiple choice question, he not only discusses the relevant facts about the question, but also gives examples of what would happen given an opposite fact pattern or an exception. This method of learning and reinforcement suits me perfectly.
My areas of weakness easily identified while working through the lecture:
1. Items not included in the adjustment for ordinary income on the Schedule 1065
2. Order of adjustments to basis in a distribution to arrive at an ordinary loss
3. Gain/loss rules for liquidating and non-liquidating distributions
4. The treatment of unrealized receivables for a cash-basis partnership
I have to admit that halfway through the lecture I began to hate partnerships. It had nothing to do with the book or the video – it was mostly due to the fact that I was tired of sitting. I sit all day at work and then I was sitting there watching a lecture on partnerships. Also, there’s just no way to spice up partnership taxation. I stood up and watched 15 minutes of the lecture standing and highlighting. It worked, I suppose because now I’m ready for corporations.
CPA Exam Hell Weak is right on schedule, surprisingly.
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Have you ever considered the amount of time you spend blogging and how you could spend that time studying?
I enjoy reading about the pain and anguish that you have gone through, but maybe you should turn off the computer.
You probably have a good point. However, writing about it helps me to stay accountable to my study plan if that makes sense. Once you tell someone you’re going to do something, it’s much easier to follow through than if you just kept it quiet. If you quit or slack off – no one will know.
Hopefully I’m making sense.
I am on schedule with my study plan to take the exams in less than a week and I’m better prepared than I’ve ever been for an exam.
Thank you for reading.