[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

[Anonymous]

NYC accountant thanks for all the help! 🙂

[NYCaccountant]

Gabe, I'm sure you crushed it!

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[lauren725]

Gabe, I am sure you did great! I will miss you in this thread. Good luck with FAR. You can do it!!

AUD - 73,91
FAR - 79 - Thank you God!
BEC - 73,79!!!!
REG - 92 whatttt??!

I used Becker review + flashcards, Ninja Audio, Ninja MCQ supplement on BEC and REG.

Done! Praise God!

[Gabe]

Thanks all!

CPA, CFE
CISA- Experience will be completed by August 2016

[Anonymous]

I would say the main function of a steering committee would be leadership. They handle system development.

[Anonymous]

I guess mgmt might fit as well…:

[Anonymous]

Let'sdothis…..The only thing the Becker question doesn't explain is why they divide the 1 million by 1.04. The Mexican interest rate is 16%. They use 4% bc the payable is due within 3 months (1/4). They basically discount the amount they will owe in 90 days by the 4% and then convert that to dollars. So when we look at the original amounts owed we owe 1,000,000 pesos or $80,000 (1,000,000*.08). When we discount the amounts using the 4% we get 961,538 pesos (1,000,000/1.04) or $76,923 (961,538*.08). The main reason/purpose for all of this is because we don't have enough money to pay the payable so we purchase foreign currency at a discounted rate so that by the time our payable matures we have the cash on hand.

[M.O.D.]

Working capital is never included in the tax shield because it is not depreciated.

Only expenses can create a tax benefit.

You cannot get an IRS deduction for the money you have tied up in AR.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[Zackrampage]

Sorry I havent written been too depressed. Hardest exam I have ever taken. Testlets went hard, hard, hard. Mamy ques I never seen before. Def failed. Moving back to FAR. Sorry if I scare any1 bit wanna admit. BEC is changing and getting harder than a few yrs ago. Essays were easy.

FAR - 62 , End of aug 2015
BEC - 67, 67
AUD - TBD
REG - TBD

[Gabe]

Which method is not affected withh a change in discount rate?

CPA, CFE
CISA- Experience will be completed by August 2016

[YoungNC]

IRR is not affected by a change in discounting method. All it is doing is measure the rate of return within the project.

Does anyone else struggle with internal control within IT? All these programmers, analysts, etc. get confusing. I really struggle with determining which jobs are incompatible.

[Anonymous]

Hey guys, quick question about B3 regarding Working capital changes…when do you account for working capital changes in cash flows? I just did a practice problem where I was given the income, change in working capital and increased depreciation, asking what the value of the first annual cash flow would be computed as. The answer utilized the depreciation tax shield and the annual income but ignored the working capital changes. Is there a certain time for them to be accounted for and a certain time they should be ignored? Thanks!

[Anonymous]

Bingo….see MODs response about 4 posts above

[Anonymous]

Zack….not what I wanted to hear from you!!!!

[lauren725]

Yikes, sorry Zach. That is how I felt after I took it the first time. You never know though, these tests are unpredictable. Keep your head up, you can do this!

AUD - 73,91
FAR - 79 - Thank you God!
BEC - 73,79!!!!
REG - 92 whatttt??!

I used Becker review + flashcards, Ninja Audio, Ninja MCQ supplement on BEC and REG.

Done! Praise God!

[Author]

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