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#CPAExam scores will be released at the following times tonight:
AUD 7:00 p.m. (CST)
BEC 7:05 p.m. (CST)
FAR 7:10 p.m. (CST)
REG 7:15 p.m. (CST)
Congrats to all who passed!! I lived this nightmare before and I know what it exactly look like …
OMG Finally done! Can't believe it after harsh 6 month period….
fianlly dooooooooooooooooooooooooooooooooooone CPA Wooooooooooooooooooooow Wohooooooooooooooooooooooo
The highest Glory to THE MERCIFUL ALLAH ALL THANKS TO ALLAH
87 on REG
@Bear-Bear, I am right there hanging on with you for my last exam REG. Hope that this thread will turn into happiness for all of us dear future CPAs…
Wow people its just 25 hours, we'll go through it together. The moment when you have to fill in your details feels like as if putting your birthdate is gonna take ages until its set up, its horrific! THIS IS ALWAYS THE CASE WITH REG AND OTHERS
I did in abu dhabi. I needed two IDs one of which signed and my NTS.
I got 95% on AUD. As a piece of advice, READ THE APPENDIX OF BECKER VERY WELL. Pay a lot of attention to the wording of the question and make sure you read the book multiple times so you get used to the wordings that look good for an AUD answer, Also make sure you read the 4 choices before you answer.
@Just_Trying_To_Pass, Thanks for your REG experience boost.
@reallytired, you're in the same bout as me. Mcqs were fine but Sims were hell brutal …
We'll know soon how we did ….
@reallytired, good luck to you too! Let us know how you do …
We'll be waiting for our results all together ☺
I am here hanging up with you people, keep it up guys. I am going to sit for it on the 6th of Sep…
Thank you bro!
@thebigguy1992, they are asking about current income tax expense which basically what you need is that to know the income return tax basis and multiply it by the tax rate! 100,000 + 8000 (Dep.exp higher in F/S which means higher income tax basis) – 30,000 (Dividend income recognized based on the tax basis is only 5,000 and the recognized amount on F/S is 35,000) = 78,000 (income return tax basis) * 30% = 23,400$.
You should capitalize the R&D anytime you do research for others, since its reimbursed by gov then it should be capitalized!
In the question its clearly indicated that the gov is going to reimburse the company for the research (the company is doing the research), then the company should capitalize that amount, the reason you capitalize these costs is that you assume that your main operation is research for others, in this case you should capitalize it and it will be part of what mainly makes profit for you through sales and cost of sales!
When you lower your materiality that means that you want to detect more and you will consider the smaller amounts material, for example, at first you considered 50,000 material for an account but now you reconsidered your decision because there is higher risk, so you decided to lower your materialty to 20,000 responding to the risk! in this case you will evaluate smaller misstatements as material compared to what you were doing in the past. hope this helps …
I take live courses and I remember that I asked the same question to my prof. he said its weird, he thought it would be 75 too…
F7-F10 are a breeze …
My question is: the new Becker version claims that we should use the lower cost and NRV under both IFRS and when we deal with problem that involves LIFO or retail methods under GAAP. Under GAAP For questions that involve methods other than LIFO and retail we should use the LCM!
In the past I knew that we always use LCM for GAAP and lower cost and NRV for IFRS! is the above effective for testing from now on or should we just follow this old rule! I am a bit confused coz lately I saw people arguing about this issue!
@Spartans92, thanks for the answer but I just want to make sure that you understand what I wrote in the previous post coz I was sorta unconscious when I was writing it 🙂
Guys are lower cost or market for lifo and retail and lower cost or NRV for inventory if its not lifo or retail GAAP new rules effective rules for testing now???
Whoooooooooooooooooooo 87 ,bye BEC
Whoooooooooooooooooooo 87 ,bye BEC
11 mins!June 21, 2016 at 4:47 am in reply to: Q2 CPA Exam Score Release (CA, IL, & other Indie States) #772234
12 mins and counting down! so anxious