[jeff]

This is for people taking their exams in the April/May 2010 testing window.

Recommended prep time for FAR is 6-8 weeks @ 20 hours a week.

Study Notes: https://www.another71.com/cpa-review-store/

Study Videos: https://www.another71.com/cpa-exam/cpa-exam-review-video/

[Anonymous]

generally speaking, for the sims

i wouldnt waste too much time on the supplemental questions either, at least none of the complex computational ones, the word questions might be fair game, but none of the computation questions are that complex

[AARON]

When doing the Supps, I avoid the T/F type questions and complex calc questions… I realize they don't do much for me other than waste time. Thanks.

? AUD - 87 (8/12/09)
? REG - 77 (1/15/10
? BEC - 77 (1/6/09 - Expired) / 79 (11/18/10)
? FAR - 75 (2/11/11)

[PursuitCPA]

there are no similar sims from the books

CPA EXAM - Passed

[AARON]

Everyone,

I've hit a wall. I can't get myself to look at this stuff anymore. My exam is in less than 2 days from now.. in fact, at about this exact time on Wednesday, I will probably be contemplating what to do with my life after experiencing FAR for a second time.

Does anyone, who has used Becker preferably, have any words of advice on how to use these final hours.

I've been through all Chapters a 2nd time, all questions a second time, both of the ‘Final Exams', flash cards, a ‘Final Review', and now just don't know what to do now…

Anyone? Thanks in advance.

? AUD - 87 (8/12/09)
? REG - 77 (1/15/10
? BEC - 77 (1/6/09 - Expired) / 79 (11/18/10)
? FAR - 75 (2/11/11)

[AARON]

Everyone,

I've hit a wall. I can't get myself to look at this stuff anymore. My exam is in less than 2 days from now.. in fact, at about this exact time on Wednesday, I will probably be contemplating what to do with my life after experiencing FAR for a second time.

Does anyone, who has used Becker preferably, have any words of advice on how to use these final hours.

I've been through all Chapters a 2nd time, all questions a second time, both of the ‘Final Exams', flash cards, a ‘Final Review', and now just don't know what to do now…

Anyone? Thanks in advance.

? AUD - 87 (8/12/09)
? REG - 77 (1/15/10
? BEC - 77 (1/6/09 - Expired) / 79 (11/18/10)
? FAR - 75 (2/11/11)

[rahulcpa]

Glogo, Do some 100 mcq's simulated exams. It really gave me the confidence!!!

BEC - 82 Reg-87 Aud - 86 Far - 81 (THANX THE LORD)
(Dr CPA (Asset)
Cr Life) 😉 (revenue)

[Anonymous]

I've with you Glogo!!! What I've started doing is just the progress tests in Becker becuase you can do it per chapter and it's only 9-13 questions at a time. I've found that when there is more than that, I just get overwhelmed and the screw it thought pops in my head.

From now till Thursday night, that's all I plan on doing. Plus maybe reading the book in areas I need more help on. This time next week, FAR will be a thing of the past 🙂

[AARON]

Rahul, you mean the progress tests CantTakeIt references?!?! It's so hard when you memorize the questions to give them your full attention after a 4th time over…. sigh…..

Thanks everyone.

? AUD - 87 (8/12/09)
? REG - 77 (1/15/10
? BEC - 77 (1/6/09 - Expired) / 79 (11/18/10)
? FAR - 75 (2/11/11)

[PursuitCPA]

2morrow just relax, what the heck you going to learn in 1 day.

CPA EXAM - Passed

[Anonymous]

Try doing some AICPA released questions. They are not used (verbatim) again but are a great reinforcement. Becker has some on their website with explanations to the answers.

[rahulcpa]

Yess. glogo! the progress tests.

BEC - 82 Reg-87 Aud - 86 Far - 81 (THANX THE LORD)
(Dr CPA (Asset)
Cr Life) 😉 (revenue)

[AARON]

Can someone help explain this problem? This should be bread and butter and for some reason I don't get it, probably because I have been at it for a while today:

Co. appropriately uses the installment method of revenue recognition to account for its credit sales.

The following information was abstracted from Asp's December 31, 2002, financial statements:

2002 2001

Sales $1,500,000 $1,000,000

Accounts receivable:

2002 sales 900,000

2001 sales 540,000 600,000

Deferred gross profit:

2002 sales 252,000

2001 sales 108,000 120,000

What was Asp's gross profit percentage for 2002 sales?

a. 20%

b. 25%

c. 28%

d. 40%

Choice “c” is correct.

? AUD - 87 (8/12/09)
? REG - 77 (1/15/10
? BEC - 77 (1/6/09 - Expired) / 79 (11/18/10)
? FAR - 75 (2/11/11)

[Anonymous]

Glogo

AR * GP % = Deferred GP; we know AR=900,000; Deferred GP = 252,000 for 2002

so 900000 * GP%= 252000

therefore GP% = 252000/ 900000 = 28%

[AARON]

Thanks so much, was totally doing this backwards…

? AUD - 87 (8/12/09)
? REG - 77 (1/15/10
? BEC - 77 (1/6/09 - Expired) / 79 (11/18/10)
? FAR - 75 (2/11/11)

[rahulcpa]

Ok. Focus on the either the accounts receivables or the installment sales collected in cash. As they are asking for the deferred gross profit percentage for the 2002 sales, always keep in mind that deferred gross profit always goes with A/R and realized gross profit goes with cash collected. Now look for A/R because deferred profit is already given. Therefore, deferred gross profit = “Gross profit Percentage X A/R

252,000 / 900,000 = Gross profit percentage

=28%

I hope it helps!

BEC - 82 Reg-87 Aud - 86 Far - 81 (THANX THE LORD)
(Dr CPA (Asset)
Cr Life) 😉 (revenue)

[Author]

Replies