Cash Flow Statements, Library Hours, and Looking Forward to Spring

Jay is a weekly columnist as a Club 75 Blogger, where he documents his journey through the CPA Exam. He has been a member of Club 75 since April 2010.

Week 17:

This past week, I’ve worked on Financial Instruments, Stockholders' Equity, EPS, Ratio Analysis, Cash Flows and Governmental Accounting. I’ve done okay on all the sections, except cash flow statements.

I logged 24 ½ hours this week reviewing the materials and working through MCQ’s.

I understand the concept of cash flow statements, I understand the conceptual differences between direct and indirect when Peter Olinto explains it, but I couldn’t get any of the homework questions correct. I scored a 50% on the homework and I got lucky guessing on a couple. I think I’m generally okay with investing and financing, but the operating questions are killing me.

I always seem to add instead of subtracting or subtract instead of adding. I even went through the Yaeger CPA Review Cram to see if Cindy Simpson gives any specific tips that might help me. Cindy's explanation of “fake cash” really made sense, but didn’t really convert to getting MCQ’s correct.

I will try listening to it again, but I may just have to memorize the formulas and the specific items that get added/subtracted, b/c when I try to use logic, I don’t seem to be having any luck. Any tips would be greatly appreciated, b/c this could easily be a Simulation and cost me valuable points. I have to nail down cash flow statements.

As for Governmental, remembering the funds and all that stuff isn’t too bad, it’s the next chapter that I’ve struggled with historically, bringing it all together into the government wide financial statements. Then, you mix in Not-For-Profit and it’s like a stew of all these different things floating around in your head.

Anyway, as I write this update, my exam is 25 days away, so I have one last chapter to get through and then it’s MCQ’s, SIMS and practice exams for the final 2 ½ weeks.

I was running low on hours logged this week, so I went into work early a couple of days and studied for an hour. I’ve been having a tough time logging more that 3-3.5 hours in the evenings, as the local college library where I study has been closing at 10pm during winter session.

I have a really difficult time studying at home, because I either get distracted with something or end up falling asleep. Luckily, the Spring semester starts next week, so the library will be open until midnight every night.

I should be able to study 4+ hours consistently and hopefully get my last few weeks up to 25-30 hours of studying. Luckily, my wife is a wonderful woman that is a great support system and picks up the brunt of the work load around the house and taking care of the kids. I really need to pass this exam, for both of our sakes.

Best of luck to everyone, have a great week!

-Jay O

Related Posts

FAR Exam Complete: The Wait for My Score Begins

Karen is a NINJA CPA Blogger. Hey fellow NINJAs!! It’s been quite a while since my last blog but things have been kind of crazy to say the least. I took my FAR exam on Monday, November 5th. I put in an incredible amount of study time for this exam. I have no clue as […]

Flexible Regulation Plans + Decisions to Make

Megan is a weekly Another71 Facebook blogger as she documents her journey through the CPA Exam. This week has been incredibly productive. I moved to a new apartment and still managed to fit in some time to study. It helped that I planned ahead and took a half day off of work to visit a […]

Three Sections of Audit Down, Two to Go!

Sherri is a weekly Another71 Facebook blogger as she documents her journey through the CPA Exam. Well, I guess that the best thing that I can say about the Audit Section is that at least it’s not FARE! I’ve been really working to try to get all of the Sections in my Roger CPA Review […]

“Sick” of W-2s + Not Ready to Schedule FAR

Kricket is a weekly Club 75 Blogger as she documents her journey through the CPA Exam. She has been a member of Another71.com’s Club 75 since May 2009. Well I started the year out with the best of intentions that have all gone wrong. I was going to focus on my work and studying so […]

Leave a Reply

3 comments

Luke 10 years ago

study planner

Allyson 10 years ago

If there is any way you can watch Cindy's entire lecture on "Fake Cash" for the statement of Cash Flows, watch it (You Tube?). I tried the Becker way and would always get it backwards, then watched Cindy and a lightbulb went off. Works every time!

Jay. O 10 years ago

Thanks Allyson, I actually watched Cindy's CRAM session. I will take a look on You Tube and see if I can find the whole lecture.