Forum Replies Created
-
AuthorReplies
-
inviteyouParticipantI had to take it twice. I wasn't serious the first time and wish I had been because it took me about 12 hours the first time only to not pass. When I took it the first time I left the exam open and didn't screen shot it; I just selected the answer and moved to the next question. I was afraid to X out of the program thinking when I logged back in I would get a whole new set of questions, so I just plugged away. I was more frustrated that it took me a while to find one answer (sometimes 45 minutes) but that was because I was trying to rush and just get it over with and wasn't familiar with the numbering system nor sections.
The second time I wrote all my answers down on a separate sheet of paper and entered them at the end. I started at 6:30 AM and finished at 7:10 PM with a lot of small breaks in between. I didn't X out either. I kept the exam open and prayed that my internet connection wouldn't drop. I was also afraid to refresh. Everything worked out though. I didn't lose connection and when I entered all of my answers the system picked them up and I passed with 90%.
As far as the exam questions I felt they were similar compared to the first try. I didn't find them easier the second time around. Overall, some of the questions were straightforward and some were tricky. And what I mean by tricky is that you can't seem to find the answer in the PDF and having failed at the first attempt I was determined to find every single answer in the PDF because I didn't want to waste yet another 12 hours on a precious Saturday.
Also, double check your answers and even the ones you think you know. For each answer I wrote down the page number where I found the answer. There was one question where I felt I knew it and didn't write the page down nor look it up. When I went back to double check just to be sure I found out I was WRONG!! So I changed it to the correct answer before entering and I ended up getting a 90%. So if I wouldn't have double checked it's possible that would've been the sixth answer I had gotten wrong and would've had had to take it over again!!! Double check your answers. I know it's a pain and feels time consuming but just adjust your perspective from the onset and you'll get through it and learn while you're at it. : )
My advice is to take-your-time. Get it in your head from the beginning that you're going to be doing the exam all day, if you have time, and stick with it. Pace yourself, be patient with the process and yourself because it can get frustrating and, if you're like me, you'll have the urge to just pick an answer to move you closer to the finish line. Don't give in. Make sure you have the right answer. Again, there were a few that I couldn't find the answer or I found the answer and just couldn't fully grasp and had to make a decision, hence the 90%. But I took the approach that every question counted.
In terms of the preparation, there's an online course available for a fee. My only quip is that the video didn't have a playback speed option. I wanted to change the playback speed to 1.75 or 2X because they guy talked slowly and the two hours seemed to drag. The information he covered was useful, but could I have done without? Probably, but at the same time it wasn't a complete waste. I did find maybe one or two things he covered in the video on the Exam.
Before taking the Exam I wish I had gotten familiar with the numbering system in the Code–this probably would've taken me 15 minutes. Understanding the numbering system helps you to find the answer more quickly when you know the sections rather than constantly referring to the TOC or using the Index. The review questions at the end of the chapter are HELPFUL!! I wish I would've answered or at least reviewed those before taking the Exam.
Both times when I took the Exam the actual PDF cut-out after six hours or so. The first time I panicked because I didn't know what was happening and the PDF became unreadable and I thought ‘How am I going to finish this Exam if I can't access the PDF?' After figuring out how to resolve, all you need to do is go to the Task Manager on your laptop or computer and End Task for Adobe Reader (I don't have Adobe Acrobat). After I ended each task for the Adobe Reader I was able to go back and open up the file. You can't restart your computer because then you'll lose all of your work.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantJust a quick vent – I passed the last exam in November 2020 and the ethics exam shortly thereafter. After that I submitted all paperwork after careful, careful review. I called IDFPR in December and the rep. said they were backed up because of Covid and said it would take six to eight weeks to complete. Before Covid they said it was four to six weeks. It's now the end of January and still no license.
Since then I've called several times and the only thing they tell me is my file says waiting to be reviewed—but it's been “waiting to review” status since Dec. 8. Each time I call the rep exclaims they aren't sure why it hasn't been completed, especially since I haven't received any denials or any email correspondence (I also check my spam folder).
Each time I request to speak to a supervisor and the rep says they can't transfer me to anyone. The only thing they can do is place a ticket to Springfield. However, it takes two to three weeks for them to reply to the ticket. So this means I might not get an answer until the middle of February??
Has anyone else submitted license for application in November 2020 or beyond and have received?
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantAre you using Gleim's test bank to prepare for AUD? If not, I highly recommend using the Gleim's test bank. Spend no more than two weeks to prepare.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantI would also suggest trying Farhat lectures as a supplement to Roger. What I liked best about Professor Farhat is that he goes over and solves actual AICPA questions. It was super helpful to hear his strategies and how he eliminates the wrong answer straightaway.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!December 6, 2020 at 8:28 pm in reply to: CPA Review Courses: Gleim, Wiley, Roger, or Becker? #3176343inviteyouParticipantTo me the review courses are similar to my skincare regime. My cleanser is by Korres, my toner is by REN, my moisturizer is by PTR and my weekly mask is by Aveda. As you can tell I don't use one brand to cover all four needs. I originally purchased and used Wiley for all four CPA sections but when I wasn't passing I finally figured it wasn't the operator it was the manual–finally it wasn't me (well maybe a little).
Wiley helped me with REG and BEC but didn't carry me over the top for FAR and AUD. Towards the end of studying for BEC I switched to Youtube lectures from Darius Clark, some of Roger's free lectures on Youtube, and Farhat Lectures. Farhat was so helpful, especially for Cost Accounting. For FAR I used Wiley but signed up for Farhat's course for 30 days as a supplement and felt that put me over the edge to pass. For AUD, I left Wiley altogether and purchased Gleim's AUD test bank and highly recommend it. Gleim's TBS were relevant and helped me to retain the information whereas Wiley's TBS were unnecessarily difficult to me and still didn't feel prepared when I went to take AUD. Gleim's TBS were much more similar in look and content on AUD. And Gleim allows you to drill questions by specific topics, such as Reviews, Examinations, etc. whereas Wiley drills by broad categories and the MCQ's weren't close to the actual CPA exam questions like Gleim's. I felt much more prepared taking AUD with Gleim and only studied for two weeks and passed on the first try with Gleim. Of course while studying AUD with Gleim I had wished I started with it initially but hindsight is 20/20–we live and learn, right? Also, the approach you take to study AUD can be completely different than studying for FAR, BEC or REG.
If you don't pass the first time review your weak areas, reassess and re-evaluate and consider the fact that you may need to switch review course providers. It's a risky move because it involves paying more money, but in the end it may be worth it. It was for me, and I only wish I had done it sooner because it would've saved me a lot of heartache.AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantThank you Sam, very helpful. I used the PDF version of the book to complete and passed on the first try. There were a couple that stumped me, but I passed with a 93. There were 46 questions in total. It took me a little over two hours to complete.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantI'm reading this thread in November 2020. I just downloaded the AICPA Ethics Exam PDF version of the book by accessing the Resources tab/Participant manual, however, I do not see a practice exam in the PDF book. I found something on page 221 but it isn't a practice exam. Am I overlooking something? Or are they no longer including the practice exam in the PDF version? Any insights would be helpful! Thank you.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantThis is an old post but I just figured it out.
A company that produces 10,000 units has fixed costs of $300,000, variable costs of $50 per unit, and a sales price of $85 per unit. After learning that its variable costs will increase by 20%, the company is considering an increase in production to 12,000 units. Which of the following statements is correct regarding the company’s next steps?If production is increased to 12,000 units, profits will increase by $50,000.
If production is increased to 12,000 units, profits will increase by $100,000.
If production remains at 10,000 units, profits will decrease by $50,000.
If production remains at 10,000 units, profits will decrease by $100,000.
If production remains at 10,000 units WITH the increase in VC it'll lose 100,000 in profit. What you do is compare, 10,000 units x 50 to 10,000 units x 60.
850,000 – 500,000 = 350,000 CM or profit. 850,000 – 600,000 = 250,000, so that's a difference of 100,000, if project remains at 10,000. Took me a while to figure it out but wish I knew a short to solve.I guess the short cut is 10,000 units x 50 vs. 10,000 units x 60 and you'll know it'll be a difference of 100,000. I guess the way the question is set up you'd think you'd need to compare the 12,000 units x 25 to the 10,000 units x 35.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantThis was tricky for me at first. I think the key is that promoting their own products implies there's future cash flows will occur as a result of the transaction. Vik would recognize the gain or the difference between FV and the BV of the asset giving up.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantI know this is an old post but wanted to add. Per Wiley, since Peabody has elected Fair Value, they should recognize the dividend revenue/income in the period, 6,000 and the increase in the fair value from the initial cost of the investment, 400,000 > 410,000; 6,000 + 10,000 = 16,000.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantIf I come across a similar question on test day and find myself short on time, rather than do the calculation do you think it would be ok to guess by the answer choices provided and see that the higher number of shares would increase the denominator? That is adding 40 more shares would have more of an dilutive impact over adding 20?
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantI'm taking an N95 mask which I heard is the one that will block out the virus. I read the regular mask doesn't do much to protect.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantThank you for clarifying. It makes sense now.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantOk, thank you. Very helpful explanations. I missed the dates the bonds mature. Since they mature on April 20×9 I am not counting the months that they weren't picked up, so to speak. Five years would be from April 20×5 TO April 20×9, five years, but they weren't issued until August 31st so I can't count or included April x5, May x5, June x5, July x5 and Aug. x5 in my calculation.
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE!inviteyouParticipantI'm not sure what the Time Timer is and if you are referring to the Pomodoro Tracker, but the Pomodoro Tracker is free! Just Google it and you can use that while studying on your computer or use Brain Focus which is a free app on your phone (for Android users).
AUD - 76
BEC - 87
FAR - 78
REG - 75practice, Practice, PRACTICE! -
AuthorReplies
