[CPA788]

@delbudge – the 2nd one. They'll be posted to our portal by 6 am tomorrow, maybe even by 5am. I'm not sure what time zone the date stamp is they use on the portal.

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

I think I wish I was a NASBA state so I could get my score at night, be sad, and go to bed and wallow instead of having to drag myself to work immediately after. Womp.

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

Hey @cpyay – I think you are applying the rules to the basis of the partners, Able and Baker. Their bases would be affected by the liability. The basis to company/partnership formed doesn't follow that same rule set and will have a basis the same as the person who contributed it. Someday if they ever sell that property, the basis carried over from whatever it was in the individuals hands. Does that help?

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

Wth. I vaguely recall seeing this formula before, but this being my 4th attempt at REG, I can legit say I've never used that. Disclaimer – don't hunt me down if it's on your test haha. I'd be really surprised if it was.

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

Check this out – HW of R3 in Becker. Where is this 3 1/2 month (Apr 15) coming from? Everything in my book says 2 1/2 month (Mar 15). Even see articles online recently dated stating 2 1/2 month.

Question: CPA-02106
Axis Corp. is an accrual basis calendar year corporation. On December 13, Year 1, the Board of Directors declared a two percent of profits bonus to all employees for services rendered during Year 1 and notified them in writing. None of the employees own stock in Axis. The amount represents reasonable compensation for services rendered and was paid on April 13, Year 2. Axis' bonus expense may:

a.Be deducted on Axis' Year 2 tax return.
b.Not be deducted on Axis' Year 1 tax return because the per share employee amount cannot be determined with reasonable accuracy at the time of the declaration of the bonus.
c.Not be deducted on Axis' tax return because payment is a disguised dividend.
d.Be deducted on Axis' Year 1 tax return.

Explanation
Choice “d” is correct. The deduction is an ordinary and necessary business expense treated just as any other compensation expense is treated. Axis is an accrual basis taxpayer, and the deduction is taken on the return for the year in which the expense accrued because it was paid within 3-1/2 months of year-end.

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

@thebigguy1992 – I had to google this but I found they did not increase for 2017, still at 2M.

My book must be outdated and my Becker software updated – for Bonuses paid to non-stockholders as well as charitable contributions made (by C Corps), I guess the payment date has been extended to April 15 to be allowed as deduction in prior year? Used to be March 15th. Is this a recent update?

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

When I need motivation I need to set small, specific goals. It's usually a # of MCQ in Becker I want to accomplish in a day. Or finishing a certain chapter by the end of the week. I also structure my study time – M-Th 8-10pm, F off, then weekends. By having a structured schedule and measurable goals, it helps me know what my path is. I also have a note card up by my laptop of the reasons of why I want to be a CPA. I look at them every time I'm studying. Sit down at your computer at the time you plan/schedule and knock out the material you have carved out for the day. Don't get up until you do (assuming it's a reasonable goal).

I'm studying for my 4th attempt at REG right now and just feel completely over it. Test is in 8 days so that's a problem. Could be my last (pending score release this week) so I'm really trying to scrape the confidence and motivation from anywhere I can find it. You got this.

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

Waiting on AUD this week and probably need a sleeping pill Weds night. I felt confident leaving Prometric but this is the week where all confidence dies and panic sets in. If I pass, REG on 2/27 could be my last. But BEC expires end of April… fml. Good luck everyone! Esp @stilgoin!

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

I feel like this is my former self writing this post. I took the exams in 2011 and failed terribly. I wasn't really in it. Got married end of 2014 and was encouraged by my office to attempt the exams beginning of 2015. My husband and I were dating back in 2011 so he knew how crappy studying was. But this time I really wanted it and this was my reasoning for why I jumped back on the train – besides the fact I wanted to do it for me. When we start to have kids, I may stay home, I may not, I have no idea, but the point being, having my license and keeping it active, even if I take leave from work for a while, will do me wonders when I do try to either 1) start my own services from home or 2) want to get back into the work force after extended stay at home or 3) negotiate for better salary in the future. My husband is literally forcing me to study and hurry up with my tests because I've been at this for a while and a majority of our marriage has been the study life, but it's worth it.

MAJOR BOTTOM LINE: Don't do it if you're not into it. Make sure your hubs is on board, you need the support. Then buckle up and do it.

Also like noted above, it doesn't have to own your life. It sorta owns mine but it's not like that for everyone. Congrats on getting married! 🙂 ♥

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

This thread makes me feel a little bad about myself, geez.

AUD – 1 attempt, ~90 hours (waiting on score, felt good about it)
BEC – 2 attempts, ~100 hours 1st try, 60 hours 2nd try for pass = 160 total
FAR – 3 attempts, ~140 hours 1st try, 100 hours for 2nd and 3rd attempt = 340 total
REG – studying for 4th attempt – ~100 hours 1st try, ~60 hours 2nd and 3rd, ~70 hours for 4th attempt by the time I sit. = 290 total

Maybe I'm also inefficient, I've also been a terrible test taker. I've never worked in Audit but never walked out a test feeling so confident (famous last words until score release), so I don't think you can judge anyone on their study hours. While I do know people who sit and waste time “studying” thinking their are really putting in the time for the tests, I think most of the people on this thread are kicking their a$$ and their hours reflect their dedication. Where is my hero @CPA50 at with her 10 FAR attempts?

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

@re2pect – dang, your MCQ and SIM output is impressive. You got this. I'll hop on the Wiley trial this week. Maybe only 2 more weeks of studying for us! (pending my AUD score on 2/23) Thanks!

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

@re2pect – How did I not know about this 2 week free trial?? I need to check that out. Can I ask you about your approach to reviewing for your retake? I reset my Becker and started just doing 10-20 MCQs per topic as a refresher (spending more time where I need to), I've finished the tax topics, and now onto blaw/ethics. When I've gotten through all categories on my first pass I guess I'll just do large MCQ batches of all chapters to identify weakspots? Being my 4th go at this idk WHAT is going to do the trick for a 75.

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

Not sure what state you're in, but if you are used to getting an NTS turned around in 3-4 days, then I don't see why this wouldn't work. I haven't let an NTS expire but I guess protocol is just wait til the 14th, then apply for a new NTS. Only risk is the seats at Prometric. However, I have done something similar while studying for a retake while waiting for an NTS, got my NTS about a week before I was ready to sit, and was able to find a seat about 7 days out – there is usually a good selection at that point but it's hard to say right now if that's the case due to everyone and their mother squeezing out test before Q2.

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

^^ well said @jdn9201. I've been staff level for 4 years in industry, we went public almost 2 years ago. Month end is a grind, but over the course of the year I have a ~50 hour work week. Life IS too short – while I want to challenge myself and progress in my career, I have already determined where my line is of work/life balance. If you enjoy what you do and the people you're with, you've got it pretty dang good.

Disclaimer – haven't worked for a Big4. I have a lot of friends that do, and between their stories and seeing our auditors onsite during interim and YE, no thanks. Though that experience helps a specific career path, won't deny that. That's a different discussion.

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[CPA788]

Yes… the infamous 8. While I don't discredit the validity of the score, I do wonder what made up that 8…

BEC - 74, 77 (Becker only)

FAR - 72, 71, 78 (Becker+NINJA)

REG - 69, 59, 69, 72, 76 (Becker+a private tutor+NINJA+Gleim free trial+seriously anything else I could review)

AUD - 77 (Becker only)

CA candidate

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[Author]

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