FAR Study Group – Q1 2018 - Page 4

Hello All – I received my failing FAR score this morning. I'm planning to start studying again sometime next week. I switched my Becker self study to the live online format. The class starts on 1/4/18. I mainly switched because I need more structure. Planning a retake in February.

@cottonkandi: I am afraid of investing more money by purchasing Ninja plus continue with my Becker and still not getting better results. My 2nd attempt got me a lower score than my 1st attempt. How do you feel, after purchasing Ninja Assault, it will benefit you. Have you had a chance to start it?

I already did 30 questions on Ninja and I am liking it!

@kkachaturian – I think the free stuff just gives you a sample of a chapter. The assault has many different resources of various topics. The testbank itself has around 1600 questions and around 60 SIMS. I think it's worth it.

@kkachaturian I would suggest the Ninja Sniper all day long, as it includes PLUS which gives you access to the videos; but you can pick up Assault at the same price, so why not. Bob Monette, the lecturer, is amazing. He simplifies complicated topics and is thorough. It is about 25 hours of additional lecture, so a great review after completing Becker before hitting the Ninja MCQ's and SIMs like mad. As a person trying a second time at the end of January, I can not stress enough how much Ninja helped. The big reviews are just not enough.

I would suggest using Wiley CPA Excel as a main studying material and Ninja MCQ and notes as supplemental. The Ninja notes were definitely key for me!

FAR-90
BEC-83
AUD-NINJA in training
REG-NINJA in training

Sup guys!

I am just beginning my journey to becoming a CPA and I'm pretty excited.

I graduated from Southern New Hampshire University in 2016 with a bachelors in Accounting and quickly landed a job at a leading litigation accounting firm here in Los Angeles, CA.

My firm provides all the resources necessary to obtain my goal, so all I have to do is study, study, study.

Looking forward to reading all about everyone's journey and I hope I can add provide some insight as we work towards this goal.

AUD – 72 (tested Nov 2017)
FAR – (March 2018)
BEC – (Not Scheduled)
REG – (Not Scheduled)

My AUD experience:

After about 6 months of working in my accounting firm, I decided that I wanted to get my CPA. I decided to complete my 150 required credits and thankfully, I only needed to take a few additional classes to obtain this requirement. After I was finished with this, I chose to begin studying. I chose WhileyCPA as my review course mainly because it never expires, so I'll be able to use it until I pass.

I studied AUD for about 3 months, admittedly pretty lazy at the beginning and cramming the last two weeks before the exam. I took the practice questions multiple times and reviewed the lessons relating to the questions I got wrong. I went into the exam feeling pretty confident.

Test Day – A few days before my test day, I decided to do the “Prometric Test Drive,” which I highly recommend to anyone with test anxiety. This allowed me to feel less anxious on actual test day. So – On test day, I felt very confident during multiple choice, but made the mistake of reviewing them, thinking I had plentyyy of time for TBS. I was wrong. I unfortunately ran out of time because the TBS were way more complex than my review course led me to believe. I knew how to complete it, but there was so much to read before before attempting to answer it, and I just didn't have enough time. I ended up leaving about 4 blank. I swore I failed terribly.

To my surprise, I scored a 72 – 3 points from passing!

Now I know to get through multiple choice ASAP and give myself as much time as possible for TBS.

Hope this helps!

Nate

The discount is amortized over time, representing an expense. This expense reduces net income, but has no cash substance. When preparing cash flows with the indirect method, you are adding/subtracting from net income. Because net income would be reduced while cash was not reduced with this type of expense, we add it back to net income to arrive at the correct cash amount.