REG Study Group Q4 2018

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

This topic contains 201 replies, has 118 voices, and was last updated by  jaya 1 week ago.

Viewing 30 posts - 121 through 150 (of 202 total)
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  • #2010923

    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

    #2015435

    Tim
    Participant

    REG has been a monumental struggle. Here are my study session results in Gleim now that I'm through all the material. REG study session scores. The first 6 study units I stuck with Gleim's method which meant doing quizzes instead of study sessions so that's why there isn't much data for those units. While I followed Gleim's method all the way through for FAR, BEC and AUD it just felt really slow and awful for REG so I ditched it. These scores are significantly lower than how I was doing on any of the other 3 sections at this point in my studying. Thankfully I still have a month to practice before my exam. I'm going to Paris for 10 days between now and then though and I will not be studying on vacation.

    We'll see how well I can bring these numbers up before exam day.

    Studying with Gleim
    FAR - 97 (10/12/17)
    BEC - 95 (01/15/18)
    AUD - 88 (04/06/18)
    REG - 89 (11/16/18)
    #2015654

    Anonymous

    @Tim,
    I'm not too familiar with Gleim, but I think you'll be fine. You still have basically 4 weeks of studying after taking out the 10 days. I crammed REG start-finish in just under 4 weeks.
    – That being said, with the time you have left I would take two weeks and really hit 1.5-2 units a day just focusing on those units. In the last 2 weeks, I would just try to tie it all together. REG is a lot of material, and I don't suggest you go light on BLAW as some people I have heard suggest (BLAW was the hardest part for me). Based on your other scores, I wouldn't worry too much about REG.

    #2019938

    YouTooShallPass
    Participant

    Beta Inc. has adjusted current earnings (ACE) of $750,000. If the AMTI is $650000 what is the AMTI before the ACE adjustment.

    a. 350,000
    b. 650,000
    c. 750,000
    d.100,000

    How do they get A?

    Really having a hard time grasping this, i tried setting up an equation to solve but cant seem to get it right, beckers explanation doesn't help either

    AUD - 89
    BEC - 89
    FAR - NINJA in Training
    REG - NINJA in Training
    The end is near
    #2020109

    Tony73085
    Participant

    I took REG today. It wasn’t hard but it also wasn’t easy. I felt that the second testlet had more difficult questions which hopefully is a good sign. I finished all of the TBS and had 30 minutes left. Did anyone else take it today? Thoughts?

    AUD - NINJA in Training
    BEC - 70
    FAR - NINJA in Training
    REG - 83
    Only True Failure is Giving Up!!!
    #2021492

    zrula
    Participant

    I took my test last week. MC were ok. the second MC testlet was harder, but nothing crazy. I suffered through Sims.. I left the exam very upset and already preparing a retake strategy

    Hustle.. Good things happen to those who hustle.
    #2021612

    Tncincy
    Participant

    I did NOT take reg today. I cancelled. Major illnesses in the family. My mother-in-law had a heart attack. And my mom (lives in another state) also hospitalized very sick. I feel like I am losing my mind, my husband is a ball of nerves, but I've been reassured that everything is going to be o.k. My mother-in law was able to go home with nurse care, and my mom is released from the hospital and with my sister whose keeping me updated. I am also working frantically to conclude my client's extensions before Monday. But I'll be back to studying probably Tuesday provided everyone is OK.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2022350

    zrula
    Participant

    @YouTooShallPass
    Let your AMTI before the ACE adjustment be X
    you after ACE income is 750,000
    75% of the difference between the before and after AMTI will be added to AMTI before the ACE adjustment
    your equation is as follows
    X+ 0.75( 750,000 – X) = 650000
    solve for X and you will get 350,000

    Hustle.. Good things happen to those who hustle.
    #2022389

    LeAnne
    Participant

    Anyone supplementing Wiley with Ninja? If so how do you like it? I am considering purchasing Ninja as a supplement and would just love some feedback. Thanks

    #2022737

    Operation_CPA
    Participant

    Can someone please provide some clarity on this? Based off of the Becker lectures, I know that a gain or loss will be recognized to a liquidating corporation on the distribution of property in complete liquidation as if the property were sold to the distributee at its fair market value. However:

    (1) What if the assets were distributed to an 80%+ shareholder? My understanding is that the corporation distributing the assets would not recognizes a gain in this situation. Is this correct?
    (2). What would the basis be in the property received to the 80% shareholder? Would it be the FMV?
    (3). Does the shareholder recognize a gain?

    Appreciate the help.

    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.

    #2022815

    Joe Payne
    Participant

    Been studying REG with Becker and have my exam in a week. I have done well with the MCQ and SIMs within Becker. After just trying out the AICPA sample test, the SIMs totally killed me. Way harder than Becker's. Anyone have any idea how I can review these SIMs? They only give you an answer key with an answer, and no explanation.

    FAR - 83

    REG - 10/22/18

    AUD - 12/10/18

    BEC - TBD

    #2024093

    Kimberly
    Participant

    @LeAnne – I had used Wiley and supplemented with additional MCQs. I used Surgent, but Ninja's questions are very similar to them. I thought the extra questions helped and I got my best score with that method. It can't hurt to see additional MCQs for the last month of your study. Best of luck!

    @tncincy – I am so sorry to hear and I hope everyone is okay. That is just so much to handle at once.

    BEC - Passed

    AUD - Passed

    FAR - Passed

    REG - Passed

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

    #2025713

    Tncincy
    Participant

    @ Kimberly – Thanks I really appreciate your concern. My mother is doing better (not cooperating but better), and my mother in law is doing better as well. She had another scare, but the doctor seems to believe she'll be fine. Her body need to catch up to her prescriptions. So, my husband can sleep for more than an hour. He is driving me nuts. Anyway… I'm done with extensions and back to studying. I'm hoping I can get a new nts and schedule for about 30 – 45 days. I don't need too much time. Life is what it is, glad to have God on my side. 🙂 and everyone in the land of the living.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2027282

    amens
    Participant

    Took reg on Monday after failing with a 74 in Q3. Completely different exam experiences. I left the first time feeling very confident, I left this time preparing for a retake strategy. I passed the other 3 sections on my first try, and didn’t feel good walking out of those at all, so here’s hoping for a pass. MC killed me, if anything saves me it’s definitely going to be the sims. After preparing with the Aicpa sample test I felt like they weren’t all that difficult. Hoping this is my last time facing this beast.

    #2027684
    Allsheneededwassome
    Allsheneededwassome
    Participant

    hello everyone ….. I'm so far behind in my prep. new job adjustments etc etc. so ended up putting prep on pause. Not good. I want to take this section in Q4.. fingers crossed I can squeeze it in because Q1 is going to be terrible at work with YE

    80(E)🤦🏻‍♀️

    66,69,70,81!

    A 71,66,70,72,83!

    80(E),82 

    #2027687
    Allsheneededwassome
    Allsheneededwassome
    Participant

    I would love to be able to answer questions posted on here but I need to know the material first… sorry guys

    80(E)🤦🏻‍♀️

    66,69,70,81!

    A 71,66,70,72,83!

    80(E),82 

    #2028845

    Tncincy
    Participant

    Ok, So I am back to studying. I am currently refreshing reg. I really want to get started on Far as well. Can I switch between Ninja products while using Ninja? or will I have to pay for Reg and Far to at least get the Far notes.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2028854
    Allsheneededwassome
    Allsheneededwassome
    Participant

    @Tnciny: I would suggest that you study for one section and take that exam rather than switching between sections. I dont think you can switch between Ninja products but I could be wrong.
    When are you sitting for REG and/or FAR?

    80(E)🤦🏻‍♀️

    66,69,70,81!

    A 71,66,70,72,83!

    80(E),82 

    #2028875

    Tncincy
    Participant

    I plan to get Reg in by at 12/1 or sooner. I really would like to get two in this window. It would be a press but Hey. I have Becker but I wanted to get the Far notes and audio.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2029988

    john-stringer
    Participant

    Hi

    I came across a TBS problem in Wiley for depreciation that I need help with.

    The first part of the TBS was assessing how much depreciation to take for a computer purchased. The trick the question maker tried was that the computer was used 40% for business… ok I did fine and picked up on it… use ADS half year convention etc for 40% only but

    (here’s where my confusion comes in)

    immediately after the 1st portion the 2nd part of the problem had me aggregate 3 other assets bought during the year and they tried to trick me again, 40% purchased in 4th quarter. So it’s mid quarter.

    Now the first time tackling the question I added all the assets, computer in first portion and the other 4 assets mentioned in the 2nd portion and I assumed we had to use mid-quarter for all of them!

    Why does the question answers show half year for the computer and not mid quarter?! It seems contradictory and some assumptions were made on my part. Please help!

    #2032250

    nomorestudying
    Participant

    Took REG today… studied for about 3 months. 2-3 hours per day during the week, and about 6 hours per day on the weekends.
    I don’t feel great about it. MC were fair, and I feel ok about them. SIMS were extremely difficult. I used all the time and answered everything even though I thought I was wrong. Worth a shot?

    AUD - NINJA in Training
    BEC - 84
    FAR - 78
    REG - NINJA in Training
    Over this
    #2036780
    gir
    gir
    Participant

    Took REG today. I studied for about 3 months 1-3 hour a night and 5-10 hours on the weekend . I work in audit and REG is not niche. I feel like the MCQs were similar to Becker and I think all but one of the SIMS were easier or the same. I had two memo questions and one of them was brutal. Tried using the authoritative literature but to no avail. Hope it was a throw away. I scored in the high 60s on all three ME (mid 70s on the MCQs). Two taken a week ago and one taken yesterday. This is my helpful hint for those taking REG this quarter. I sort of geared were I focused my studying to areas where the tax law did not change. I was thinking surly they won't ask questions about things that are no longer law. I was wrong. Apparently everything in the 2017 tax law is fair game and you need to know it. Best of luck!

    AUD - 86
    BEC - NINJA in Training
    FAR - 85
    REG - 78
    “If you really want to do something, you'll find a way. If you don't, you'll find an excuse.” Jim Rohn
    #2040257

    Tncincy
    Participant

    Best of luck to nomorestudying and Gir, hoping for good test results. And thanks for the heads up as well.
    I hope study is going well for everyone else. Anxiety is really building up again.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2040416

    To0ld2Pass
    Participant

    8 Days out for me! Won't have much time to review, just starting last section in Becker on business law. Was nervous for FAR and even more for REG :/

    #2040887

    Tim
    Participant

    Good luck man please let us know how it goes. I'm 16 days out myself and feeling shakey. Purchased Ninja and averaging about 75% which isn't awful I guess.

    Studying with Gleim
    FAR - 97 (10/12/17)
    BEC - 95 (01/15/18)
    AUD - 88 (04/06/18)
    REG - 89 (11/16/18)
    #2042186

    Abby
    Participant

    Hey everyone!

    Just came upon this forum while trying to get through some REG material. I've been trying to study by watching the lecture, taking notes, and doing the MCQ but I started to forget the material I learned in the previous lectures. At this point it feels like information overload so I'm going to try it the NINJA way. Hopefully the change is strategy helps me get back my grip on reality.

    AUD - NINJA in Training
    BEC - NINJA in Training
    FAR - NINJA in Training
    REG - NINJA in Training
    "It'll all be okay in the end. If it's not okay, it's not the end."
    #2042648

    eMeRGeD
    Participant

    Taking the exam in 4 hours.. 2nd time taking it after a 66 the first time. 70 and 77 on the practice exams in Wiley. Never again will I schedule an exam for anything but 8am, i'm dying until 3pm! I just want to pass 🙁

    AUD - 75 - Apr 2018

    BEC - 77 - Mar 2018 - Expires Sep 2019

    FAR - 72 - Sep 2018 (retake Dec 2018)

    REG - 83 -  Nov 2018

    #2043710
    jmodi.mba
    jmodi.mba
    Participant

    @emerged how did it go? I am also using Wiley so would be good to know it that preps you well.

    AUD - 78
    BEC - 86
    FAR - 85
    REG - NINJA in Training
    “Beyond our ideas of right-doing and wrong-doing, there is a field. I’ll meet you there". ― Coleman Barks
    #2044685

    Taking REG in T-minus 16 hours. I need a win here

    AUD - 71
    BEC - 72
    FAR - NINJA in Training
    REG - NINJA in Training
    Currently studying for REG
    #2045171

    Tim
    Participant

    Example of a BS Gleim question…

    Rona Corp.’s 2017 alternative minimum taxable income is $200,000. The exempt portion of Rona’s 2017 alternative minimum taxable income is
    A. $12,750
    B. $27,500
    Answer (B) is correct.
    The basic exemption amount is $40,000. However, this is reduced by 25% of the excess of alternative minimum taxable income over $150,000. Therefore, Rona Corp.’s exemption amount is reduced by $12,500 [($200,000 – $150,000) × 25%]. Rona’s exempt amount is $27,500.
    C. $0
    D. $50,000

    They want me to memorize every base amount, phaseout amount and phaseout percentage in the US tax code. Come on man…that's like humanly impossible. I purchased Ninja and I'm amazed how simple all the questions are in Ninja vs Gleim.

    Studying with Gleim
    FAR - 97 (10/12/17)
    BEC - 95 (01/15/18)
    AUD - 88 (04/06/18)
    REG - 89 (11/16/18)
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