FAR Study Group Q4 2018

CPA Exam Review CPA Exam Forum FAR FAR Review FAR Study Group Q4 2018

This topic contains 121 replies, has 108 voices, and was last updated by  TryAgain 1 week ago.

Viewing 30 posts - 91 through 120 (of 122 total)
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  • #2008748

    Anonymous

    1. Approx exam date: Hope to take FAR late November/early December — waiting for the local community college to get approved to administer CLEP exams so I can take Principles of Management test to get the last 0.67 business credit needed to qualify to sit for the CPA exam. Started studying in the Summer but lost the drive to study when I found out I couldn't take the exam in Q3. Trying to get back to serious studying and remembering everything I already forgot.
    1. Most comfortable with Financial Reporting Environment.
    3. Weakest right now – Defined Benefit Plan, answering calculation questions fast enough, & understanding what some of the sim questions are asking for.

    #2008808

    Anonymous

    Taking FAR early November
    Comfortable with most of the material
    Weakness is conceptual framework, and Financial Reporting

    #2008904

    Notgivingup!
    Participant

    Hi Jeff,
    My test date is Approx. Nov. this year and I’ll be sitting for FAR. I am most comfortable with the Accruals section, I am struggling a little bit with memorizing some of the ratios/formulas. I need all the help I can get.
    Thanks,

    NotGivingUp!
    #2008922

    Campanita
    Participant

    Hello I am taking FAR last week of November. I took FAR back in July and I did not pass. One of my strongest area is conceptual framework and the weakest is cash flows (cash to accrual)

    #2008952
    Preksha
    Preksha
    Participant

    Hey! This will be my First CPA exam and studying for FAR has been quite challenging.

    1. Approx exam date (Late October, mid-November, etc)
    22nd November
    2. Topic you're most-comfortable within this exam section
    Conceptual Framework and Financial Reporting
    3. Topic you're weakest in / worries you the most.
    Governmental Accounting and Liabilities

    AUD - 77
    BEC - 85
    FAR - 90
    REG - 88
    " All you need is the plan, the road map and the courage to press on to your destination"  - Earl Nightingale
    #2009441

    Anonymous

    Took my Far exam in August and i didn't make it.
    1.Approximate exam date : early November
    2.Most comfortable with: govertment accounting.
    3. Topics your weakest in/worries: bonds and Leases.

    #2010917

    jeff
    Keymaster

    Winners announced – thank you everyone for participating and thanks for being part of the study groups:

    https://www.another71.com/cpa-exam-forum/topic/announcement-big-study-group-giveaway/#post-2010899

    #2012003

    lucblayne
    Participant

    December depending on exam results.
    Strong points: Inventory. Bonds.
    Weak point: Gov accounting.

    #2023361

    tbizzle
    Participant

    1. Approx exam date: December 10th
    2. Topic you're most-comfortable within this exam section: TBD
    3. Topic you're weakest in / worries you the most: Cash flows and any new material since 2012; it's been six years since I've studied for this exam!

    #2029235

    shanonymous
    Participant

    Hey y'all! I recently passed REG, my first exam, with a 76 (though I actually have no idea how) and have now moved on to studying FAR.

    1. Approx exam date: December 3rd
    2. Topic you're most-comfortable within this exam section: I feel pretty okay with Trade Receivables and AJEs (though I haven't gotten too far through my materials yet)
    3. Topic you're weakest in / worries you the most: Everything else – Governmental specifically sounds daunting

    I'm having a hard time figuring out how to get enough studying in throughout the weeks. I work full-time in public accounting, and while I can set aside a few hours each day after work to study, I feel like it's not enough for me to actually retain everything. I feel like I'm forgetting things I studied the week prior because it's just not sinking in. Any advice is appreciated 🙂

    AUD - NINJA in Training
    BEC - NINJA in Training
    FAR - NINJA in Training
    REG - 76
    "Never give up. Never surrender."    -Galaxy Quest
    #2033315

    Operation_CPA
    Participant

    Just started studying FAR again after losing credit….first 2 chapters are actually pretty easy, but I am seriously struggling with module 7 –> special purpose frameworks. Specifically all cash to accrual MCQs. I feel completely lost on these. Any advice is appreciated.

    FAR - 76 (Lost credit)
    AUD - 80
    BEC - 76
    REG - 75

    Truly I tell you, if you have faith as small as a mustard seed, you can say to this mountain, "Move from here to there," and it will move. Nothing will be impossible for you.

    #2033366

    Operation_CPA
    Participant

    False alarm, it clicked. Amazing what some T-accounts will do versus trying to memorize the formulas in the book.

    FAR - 76 (Lost credit)
    AUD - 80
    BEC - 76
    REG - 75

    Truly I tell you, if you have faith as small as a mustard seed, you can say to this mountain, "Move from here to there," and it will move. Nothing will be impossible for you.

    #2037530

    ahugemistake
    Participant

    Four years ago on January 2, Randall Co. purchased a long-lived asset. The purchase price of the asset was $250,000, with no salvage value. The estimated useful life of the asset was 10 years. Randall used the straight-line method to calculate depreciation expense. An impairment loss on the asset of $30,000 was recognized on December 31 of the current year. The estimated useful life of the asset at December 31 of the current year did not change. What amount should Randall report as depreciation expense in its income statement for the next year?
    $20,000.
    $22,000.
    $25,000.
    $30,000.

    Questions like this make me so confused. If the impairment was recognized on december 31st, then why is depreciation not adjusted going forward but has to be changed for the current year too? I would think the company has already recognized $25K of depreciation for the year, why would they adjust it to $20k?

    FAR: 76*, 75
    AUD: 76*
    REG: 78*
    BEC: 80*

    All scores expired, let's try this again.

    #2039021

    maplewood
    Participant

    Ahugemistake – The net book value of the asset at the time of impairment (Year 5) was $150,000: $250,000 cost less $100,000 accumulated depreciation (4 years of depreciation at $25,000 a year). After the impairment of $30,000, the net book value is $120,000 ($150,000 – 30,000). The remaining life is 6 years (Years 6-10) and annual depreciation is $20,000.

     

    AUD - Passed
    BEC - Passed
    FAR -
    REG - Passed

    #2039087

    Green
    Participant

    I am using becker. I am wondering how well I need to memorize FI M1 lecture. the nuances of the standard setting and developement of the fasb codification etc. anyone have suggestions?

    AUD - NINJA in Training
    BEC - 91
    FAR - NINJA in Training
    REG - 94
    Green
    #2039918

    ahugemistake
    Participant

    @maplewood I was on like hour 5 of studying on saturday when I posted that. I totally missed that it said next year at the end, doh! Thanks for explaining. Makes sense.

    FAR: 76*, 75
    AUD: 76*
    REG: 78*
    BEC: 80*

    All scores expired, let's try this again.

    #2040254
    Ninja-Biker
    Ninja-Biker
    Participant

    Hello, I am taking my FAR on Dec.10, hopefully I can pass it so get it over with,ugh
    Could not remember Gov accounting stuffs, it is really giving me a headache.

    Be an idol.
    #2043257

    Tony73085
    Participant

    Took BEC yesterday now ready to study for FAR. Good luck everyone.

    AUD - NINJA in Training
    BEC - 70
    FAR - NINJA in Training
    REG - 83
    Only True Failure is Giving Up!!!
    #2046608

    ginny.emmer
    Participant

    Is anyone else having trouble logging in to the Dojo? I can't get in and I'm getting really frustrated. I've already tried clearing my cookies and browsing history, used a new browser, etc but the login attempts keep failing and then i get locked out.

    AUD - 76
    BEC - NINJA in Training
    FAR - 65
    REG - NINJA in Training
    Let's do this!
    #2047559

    Tony73085
    Participant

    Seriously trying to stay motivated…. working full-time and took REG and BEC in October…… Taking FAR end of November and wish I hadn’t scheduled it…… just gonna try and stay motivated and hopefully pass.

    AUD - NINJA in Training
    BEC - 70
    FAR - NINJA in Training
    REG - 83
    Only True Failure is Giving Up!!!
    #2048540

    Steve K
    Participant

    Hi all. I will be taking FAR for the 3rd time this upcoming Saturday. Failed my first 2 times with a 70. Hoping that “3rd time's a charm.” If you have any advice on how I can boost my score during this last week of studying/review, please let me know.

    FAR - 81
    AUD - TBD (Waiting for Dec. 19th score release)
    REG - NINJA in Training
    BEC - NINJA in Training
    #2048660

    pr718
    Participant

    Hi,

    I'm taking FAR November 21st and I'm currently re-reviewing all the material using Becker. I thought I saw something online about Becker having a chart showing differences between US and IFRS. Does anyone know if that exists?

    Thanks,

    AUD - 83
    BEC - 83
    FAR - NINJA in Training
    REG - 81
    pr718
    #2059094

    Rach
    Participant

    This delayed score release is killing me. Waiting for REG results. Taking FAR on Dec. 1. If I find out that I don't pass either in mid-December, I'm throwing in the towel for a few months/years and letting BEC credit expire. I really can't believe how much I've given up in my life the past 1.5 years just for these exams it's just not worth it anymore. I've missed out on so many family and friend events that they all think I don't want to hang out with anyone anymore….really making my life a living hell and has driven me to a deep deep depression. Probably just isn't the right time/thing for me. UGH.

    BEC: 77

    AUD: January 2018

    REG: 75

    FAR: December 2018 (waiting...)

    #2059535

    Tony73085
    Participant

    I know how you feel. I took REG and BEC early 2017….. got a 73 and 59….. decided to finish my masters which I did and was so much easier than passing these exams….. I took REG and BEC this October….. something possessed me to sign up for FAR this month as well…. I’m drained but trying to push through…. my FAR exam is on Nov 28. I should receive all 3 grades at the same time. I hope I pass. If I don’t I’ll really be upset. Good luck to you.

    AUD - NINJA in Training
    BEC - 70
    FAR - NINJA in Training
    REG - 83
    Only True Failure is Giving Up!!!
    #2059694

    Linda
    Participant

    Hi Everyone,

    I have been following this site since 2016 and it has been extremely helpful reading everyone's stories. I've been studying for FAR off and on since 2015! My 1st result was TERRIBLE and it made me question whether I can actually pass this exam. I decided to invest in a private tutor and my score jumped 20 points. its almost 2019 and I am still studying for this exam. Anyways my exam date is December 8th. Good luck everyone.

    But he said to me, "My grace is sufficient for you, for my power is made perfect in weakness." Therefore I will boast all the more gladly about my weakness, so that Christ power may rest on me.
    2 Corinthians 12
    #2059712

    Kimberly
    Participant

    @rach – I just wanted to say that I truly understand where you are coming from. I feel a bit like I was in your shoes last fall, around this time of year. I had only BEC passed and, due to all the delays, I was waiting months while feeling like my life was hanging on the line in the meantime. I missed so many things and left so many other events early. And it absolutely was depressing. I have no doubt it affected my mental health (and caused me to gain 20+ lbs which I am still working to lose!). I just wanted to tell you that you are not alone in feeling the way you do. This test has a way of dragging you down, and we shouldn't let it. But sometimes it is hard to not let it.

    Whatever happens, take a little bit of time to re-assess and let your gut tell you what to do next and what is best for you. I wish you the best of luck in your remaining studies and I hope you get positive news in December. Sending hopeful thoughts!

    @tony73085 (congrats on the masters!)
    @Linda (wow – a 20 point jump – so inspiring!)

    Good luck to both of you and everyone else taking FAR this quarter! Go get it!

    BEC - Passed

    AUD - Passed

    FAR - Passed

    REG - Passed

    BEC/AUD - Wiley + Ninja / FAR - Surgent / REG - Wiley/Surgent

    #2060219

    ahugemistake
    Participant

    Have FAR scheduled for next friday and I am sweating! Used CPAExcel all the way through asides from Ninja audio and notes. The MCQs are similar so I stuck with Wiley. I don't know where to focus. I have reviewed all the material in the last month, and I'm going back and doing MCQs and keep messing up over little things. I don't know if they will be on the exam or not but I am panicking. Still feel myself getting really anxious around bond effective interest rate problems. I am very comfortable with non-profit and governmental section, as I work in governmental accounting. I can only do like 100 MCQs a night before I burn out.

    As you can see from my scores below, I've gotten pretty lucky before. I don't want to rely on luck this time. Any advice on doing a final prep system that has worked for you would be appreciated!

    FAR: 76*, 75
    AUD: 76*
    REG: 78*
    BEC: 80*

    All scores expired, let's try this again.

    #2082080

    jeff
    Keymaster

    Sorry – this study group got un-sticked…here's to everyone making the final push in Q4! Finish strong.

    – jeff

    #2082092

    jeff
    Keymaster
    #2099619

    bookdidi7
    Participant

    Hi, taking my FAR exam for 3rd time on Dec 6th. Have been using Roger CPA review and just started with Ninja review as well. Would LOVE to pass it this time!

    AUD - 83
    BEC - NINJA in Training
    FAR - 60
    REG - 71
    It's the everyday effort. There's no way to it but through it!
Viewing 30 posts - 91 through 120 (of 122 total)

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