[melody_pinaycpa]

@Tcohle – I also need 24.5 credits. I'm thinking of doing CLEP exams once I'm settled with the new job.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

For REG, I did not do practice exam but I was averaging 80% overall and I made sure that my average for each study unit is 75% and above.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

@Tcohle – I think you'll passed based on your assessment of the SIMS part. I think I passed REG with my 3rd attempt because I felt I nailed most of the SIMS although I flagged a lot of MCQs.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

I passed REG on third attempt and this is after switching to Gleim. I felt I have memorized NINJA's questions on the first 2 attempts.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

You have probably memorized the questions in NINJA. After failing REG twice with NINJA exclusively as my materials, I felt I have memorized their questions so I switched to GLEIM (test prep + sim wizard) with my 3rd attempt and I thankfully passed.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

@Nath – in my actual AUD exam I had a SIM on audited balance. If I did not know the should be journal entries for those transactions then I would not be able to know the adjustments to be made to arrive at the correct audited balance.

@Moeshow – I was not able to use the AL for non-research based SIMs for AUD. But has utilized it in all 3 attempts of REG. The only difference for me with the third attempt for REG as far as AL is concerned is I did practice the AL thru the Cornell website and I could easily figure out the key word by this time. I also had enough time with the last attempt so I was able to maximize the AL for non-research SIMS for REG.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

I learned CLEP Exam from this forum.lol Basically, these are subjects in which you take the test online and once you pass (50 passing score) you get credit for it. You just have to make sure that these subjects will be reflected in the transcript of a regionally accredited institution.

Yes I am in the UAE. I only know very few CPAs here, my 2 bosses and some of our Big 4 auditors. My 2 bosses are paid extremely well, the other one is Arabic speaking so he's paid a lot more. The other boss has only 2 years experience post certification and she immediately landed Managerial post and she's earning pretty much as well. There's no income tax here but VAT will be introduce come Jan 2018.

I'm joining a new company in 2 weeks, I got a 55% hike but I was told in this forum previously that I'm still receiving way below considering my 13 years experience. But personally, I'm pretty much content and happy with the offer given to me. This was before passing the last section.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

For FAR – I made sure I know the journal entries and I put in more effort on topics I find difficult like business combination. I studied 3 months for FAR with a full time job and a family with 2 kids ( 3 and 2 y.o). I passed on first try with an 88.

For AUD – I memorized the audit reports for each type of opinion. Whatever changes in the exam during my time, I would find time to study them. The journal entries learned in FAR were also applied with audit adjustments thinking that that might come out in my AUD sims. I passed on first try with an 86.

For REG – took me three attempts to pass this beast. On the first 2 attempts, I was weaker in SIMS. For the third round, I pretended I did not study the first 2 attempts, I went back to the book before I hit the MCQs. I also swithced to Gleim from Ninja and studied for 3 months. I list down the SIMS I had during the first 2 rounds. Miraculously, 1 of the previous SIMS came out in my last attempt, passed with an 82. (73,70 & 82)

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

I recently passed all 4 parts but I still have 25 credits to complete for licensing. I have fulfilled the required number of credits for Accounting and Business courses. I initially thought of pursuing Masters but that might duplicate some of my Accounting and Business courses so the cheaper and shorter route for me is CLEP exams.

In this part of the globe where I am right now, I know a lot of people with Master's but not that much people who has CPA. But then again, it depends on personal preferences.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

Agreed with KNCPA – If you want it, you should go for it. The first and second time I failed REG, I thought of giving up but then I realized I've passed 3 sections already and why would I give up. I re-assess my strategy, switched Review materials and thankfully passed the third attempt with an 82.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

I passed REG with an 82 and I'm done with the CPA exam journey!

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

Finally done.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

Passed REG with an 82. I'm done with the CPA exam. To GOD be the highest glory!!!

Now I could go to sleep as I've been sleepless for the last 24 hours.

9AM UAE time now.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

636am UAE time and I haven't sleep. In 2 hours and 20 minutes I will know if I'm done forever.

Please I need a 75 on REG.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[melody_pinaycpa]

@determined24- the 3% is the phase out for itemized deductions once it reached a certain threshold. The reduction would be lesser of 80% of itemized deductions or 3% of the amount of which AGI exceeds the phase out. While these itemized deductions are not subject to phase out – Medical expenses, Investment interest expense, casualty losses and gambling losses.

Vacation home – a.) minimum rental use is more than 14 days===>>>>allowable expenses cannot exceed gross income of rental property
b.) minimum personal use – taxpayer uses the residence for personal purposes for the greater of more than 14 days or more than 10% of the number of days for which the residence is rented===>>>all deduction may be taken and a loss may occur subject to passive loss limits

You may also refer to Schedules C and E tax forms for these

For your other inquiries, I will check my notes.

FAR - 88
AUD - 86
BEC - 82
REG - 73, 70, 82

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[Author]

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