[lolo]

@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$.

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

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!

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

@marqzho, congratulations mate! you are finally done..

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

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 …

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

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…

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

F7-F10 are a breeze …

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

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 🙂

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

??

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

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???

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

@jr1751, Thank you, and congratulations we all passed now gears up to FAR!

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

Whoooooooooooooooooooo 87 ,bye BEC

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

Whoooooooooooooooooooo 87 ,bye BEC

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

11 mins!

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

12 mins and counting down! so anxious

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[lolo]

@abdulrahman, Yea I hope so.

Here is the link: there is something called “Get scores”!

https://cpacentral.nasba.org/

AUD - 95
BEC - 87
FAR - 93
REG - 87

My nick name is Sunshine but the fact is that I have never been in touch with it since I started studying for this CPA exam. I KNOW It HURTS!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[Author]

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