FAR Study Group Q1 2017

CPA Exam Forum FAR FAR Review FAR Study Group Q1 2017

This topic contains 2,502 replies, has 106 voices, and was last updated by  mckan514w 3 months, 1 week ago.

Viewing 30 posts - 1,291 through 1,320 (of 2,503 total)
  • Author
    Posts
  • #1479474
    demarcon
    demarcon
    Participant

    Ah ok, I missed that. Thanks! Gonna go through that before my exam tomorrow.


    Roger & Ninja

    AUD - 98 - 8/17/16

    BEC - 89 - 10/3/16

    REG - 97 - 12/7/16

    FAR - 97 - 2/17/17

    #1479478
    mtaylo24
    mtaylo24
    Participant

    @demarcon, yup, select customized options rather than adaptive learning and you should see an IFRS option on the third menu. Also, there is an gaap vs ifrs appendix on Gleim online.

    @mckan514w, I was saving the sims for next weekend after I'm done w/ BEC. Yeah, you have to do the entire study unit, I believe 6 or 7 per SU, so a little over 120. I get more out of the review sessions, half of the time, I will just submit and then review.


    A: 60, 61, 61, 78 (Expires May 31)
    R: 55, 69, 74, 75
    B: 71, 72, 73, 76
    F: 52, 54, 72 (May 30)
    AUD - 78
    BEC - 76
    FAR - NINJA in Training
    REG - 75
    #1479508

    mckan514w
    Participant

    Good Luck tomorrow @demarcon!!!

    Got ya mtaylo – yeah I have found myself just filling in hastily and printing to PDF to review this afternoon… my brain is fried…


    And they ask me why I drink

    BEC 71, 82
    AUD 75
    REG 75
    FAR 61, 69, 83

    #1479547
    boe
    boe
    Participant

    10 days to get governmental straightened out in my head. At least I know what I'll be doing this weekend. 🙂


    Can't believe it's over!
    AUD - 85
    BEC - 85
    FAR - 78
    REG - 83
    #1479564
    demarcon
    demarcon
    Participant

    Got a 78% on the 89 questions for IFRS differences. I feel like I can live with that, especially because some of the questions were things that were never talked about in Roger. Now trying to decide if I wanna go over some lectures again or if I want to just relax for the rest of the night and sort through the note cards I am going to cram before going into Prometric.


    Roger & Ninja

    AUD - 98 - 8/17/16

    BEC - 89 - 10/3/16

    REG - 97 - 12/7/16

    FAR - 97 - 2/17/17

    #1479790
    mtaylo24
    mtaylo24
    Participant

    I CAN'T STUDY ANYMORE!!!!! I went in today…too ashamed to tell you how many questions I've done. I have an 83 page word document full of WRONG answers I now have to review (thank you Ninja MCQ). FUN Times!


    A: 60, 61, 61, 78 (Expires May 31)
    R: 55, 69, 74, 75
    B: 71, 72, 73, 76
    F: 52, 54, 72 (May 30)
    AUD - 78
    BEC - 76
    FAR - NINJA in Training
    REG - 75
    #1479796
    Sticky Nicky
    Sticky Nicky
    Participant

    mtayloooooo,,,ive done roughly 4000 questions between both of my materials lol,,,dont b ashamed


     

     

    AUD - 87
    BEC - 85
    FAR - 88
    REG - 80
    #1479937
    demarcon
    demarcon
    Participant

    @Sticky Nicky I've done about 4000 questions as well. Hopefully it all culminates into a pass today.


    Roger & Ninja

    AUD - 98 - 8/17/16

    BEC - 89 - 10/3/16

    REG - 97 - 12/7/16

    FAR - 97 - 2/17/17

    #1479945
    Mscfisher
    Mscfisher
    Participant

    @demarcon you got this!!!! Stay confident and you will not be defeated!


    Luck is when when preparation meets opportunity
    AUD - 77
    BEC - 83
    FAR - NINJA in Training
    REG - 83
    #1479960

    mckan514w
    Participant

    Kick major A$$ today @@demarcon!!!


    And they ask me why I drink

    BEC 71, 82
    AUD 75
    REG 75
    FAR 61, 69, 83

    #1479988
    mtaylo24
    mtaylo24
    Participant

    @demarcon, good luck man!


    A: 60, 61, 61, 78 (Expires May 31)
    R: 55, 69, 74, 75
    B: 71, 72, 73, 76
    F: 52, 54, 72 (May 30)
    AUD - 78
    BEC - 76
    FAR - NINJA in Training
    REG - 75
    #1479997
    Holly
    Holly
    Participant

    Good Luck! Here's to the last CPA test you'll ever take!!!!!! @demarcon


    Becker & Ninja MCQ

     

    REG 7/29/2017

    BEC 5/19/2017

    AUD - 76
    BEC - NINJA in Training
    FAR - 82
    REG - NINJA in Training
    #1480041
    demarcon
    demarcon
    Participant

    Thanks everyone!! I will report back after my exam and before I get extremely drunk tonight.


    Roger & Ninja

    AUD - 98 - 8/17/16

    BEC - 89 - 10/3/16

    REG - 97 - 12/7/16

    FAR - 97 - 2/17/17

    #1480128
    Nathalia
    Nathalia
    Participant

    @demarcon good luck!

    Hahah after my exam tomorrow I plan on having a really nice dinner and then drinking the cheapest tequila I can find.

    Hopefully tomorrow will be the last time I ever have to go to prometric..


    AUD: 74, 75

    BEC: 81

    FAR: 64, 66, 76

    REG: 84

    #1480186

    norseman88
    Participant

    @demarcon – Hand FAR that L today!

    AUD – 89
    BEC – 87
    REG – 82 –
    FAR – 3/10 (28 days to study, :|)

    #1480264
    Sticky Nicky
    Sticky Nicky
    Participant

    good luck demarcon!


     

     

    AUD - 87
    BEC - 85
    FAR - 88
    REG - 80
    #1480272
    Sticky Nicky
    Sticky Nicky
    Participant

    question: valuation accounts are used for only deferred tax assets?


     

     

    AUD - 87
    BEC - 85
    FAR - 88
    REG - 80
    #1480285
    Nathalia
    Nathalia
    Participant

    I believe it's also used with allowance for doubtful accounts.

    edit// and by that I mean the concept, ADC is the valuation account.


    AUD: 74, 75

    BEC: 81

    FAR: 64, 66, 76

    REG: 84

    #1480317
    Sticky Nicky
    Sticky Nicky
    Participant

    yes i know that lol im talking about taxes though DTA vs DTL


     

     

    AUD - 87
    BEC - 85
    FAR - 88
    REG - 80
    #1480339

    Anthony
    Participant

    Took far today. I felt Ninja mcq were pretty damn similar in terms of difficulty compare to the actual exam. Sims were on another ball game. I knew how to solve them..just not enough time even with 1hr and 20 minute left. Must have been poor time management on my part in sims. Research question was like wtf I am suppose find?

    People say they can tell a difference between a hard and medium testlet. I honestly couldn't tell a difference even if it hit me in the head.


     
    AUD - NINJA in Training
    BEC - 80
    FAR - 74
    REG - NINJA in Training
    #1480357
    mtaylo24
    mtaylo24
    Participant

    @StickyNicky I'm thinking they are DTAs only ” Valuation allowance reduces a deferred tax asset. It is recognized if it is more likely thank not (probability >50%) that some portion of the deferred tax asset will not be realized.”


    A: 60, 61, 61, 78 (Expires May 31)
    R: 55, 69, 74, 75
    B: 71, 72, 73, 76
    F: 52, 54, 72 (May 30)
    AUD - 78
    BEC - 76
    FAR - NINJA in Training
    REG - 75
    #1480410
    Nathalia
    Nathalia
    Participant

    Does anyone know how different Becker and ninja mcqs are? I feel like Becker just takes all the released questions for their Mcq bank. What does ninja do?


    AUD: 74, 75

    BEC: 81

    FAR: 64, 66, 76

    REG: 84

    #1480414
    Nathalia
    Nathalia
    Participant

    @sticky Nicky yes DTA only. It's a contra asset account just like allowance for uncollectibles.


    AUD: 74, 75

    BEC: 81

    FAR: 64, 66, 76

    REG: 84

    #1484988

    norseman88
    Participant

    Need help on Becker question CPA-05621 Chapter 3 acquisition.

    X acquired 100% of Y for 275,000. Carrying value Y assets and liabilities were 450,000 and 200,000, respectively. The FV of Y A&L were 550,000 and 200,000, respectively. Additionally, Y had identifiable intangible assets at the time of acquisition with a FV of 60,000. What is the gain to be reported on X consolidated income statement?

    135,000
    0
    75,000
    25,000

    answer is A which includes the 60,000 and 75,000 (purchase price below FV assets – FV Liability). Why is the FV of the identifiable intangible asset not included in the FV of total assets? I though identifiable intangible assets are listed on balance sheet as an asset, so 60,000 gain on the intangible and 15,000 gain on another asset.

    #1487301

    mckan514w
    Participant

    unless someone else has a better answer I would say it was worded like that to try and mess you up…. sorry feeling jaded after working poorly worded questions for so long now.


    And they ask me why I drink

    BEC 71, 82
    AUD 75
    REG 75
    FAR 61, 69, 83

    #1489128
    demarcon
    demarcon
    Participant

    My MCQs were insane. They asked such small details about disclosures. I felt so prepared going in, and coming out I was asking myself wtf did I study for so long. The SIMS were ridiculous, and unless most of my Government questions were pretest, it had to at least have been 30% of my exam… I had TWO sims on Government and one on IFRS.


    Roger & Ninja

    AUD - 98 - 8/17/16

    BEC - 89 - 10/3/16

    REG - 97 - 12/7/16

    FAR - 97 - 2/17/17

    #1489143
    demarcon
    demarcon
    Participant

    @nathalia I think Ninja is 100% AICPA questions and Becker has some instructor questions in there, that's why it's so hard.


    Roger & Ninja

    AUD - 98 - 8/17/16

    BEC - 89 - 10/3/16

    REG - 97 - 12/7/16

    FAR - 97 - 2/17/17

    #1491778
    Nathalia
    Nathalia
    Participant

    @demarcon thanks for the input. Hahah I guess I'll be spending the night hanging out with government accounting


    AUD: 74, 75

    BEC: 81

    FAR: 64, 66, 76

    REG: 84

    #1491784
    Nathalia
    Nathalia
    Participant

    @norseman88 I think if you use the CARINBIG mnemonic you can figure it out pretty easily.

    Remember that CAR = equity =assets-liabilities = 250k
    I =275k
    N= 0
    B= 100k (diff btween fv and cv)
    I= 60k
    G= plug

    Dr. CAR 250
    CR INVESTMENT IN SUB 275
    DR BS ADJ TO FV 100
    DR ID INTANGIBLE ASSETS 60
    CR GAIN 135


    AUD: 74, 75

    BEC: 81

    FAR: 64, 66, 76

    REG: 84

    #1491867
    GiniC
    GiniC
    Participant

    Can anyone help me see how to identify the fund in this question as an agency fund?

    The tax collection fund of XXX County accounts for receipts of taxes levied and collected on behalf of cities and districts within its borders.


    Prep using Becker live classes
    AUD - 95
    BEC - 82
    FAR - 86
    REG - 82
Viewing 30 posts - 1,291 through 1,320 (of 2,503 total)

The topic ‘FAR Study Group Q1 2017’ is closed to new replies.