[jeff]

NINJA Study Notes, Flashcards, and Audio: https://www.another71.com/products-page/

Wiley Software: https://www.another71.com/wiley-cpa-software/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[kperrucci]

Thanks Megan! We're taking the exam within one day of each other! Ridiculous that we will have to wait until June to get the scores. 🙁

FAR 4/9/2011: 88 (Becker)
AUD 5/16/2011: 88 (Becker)
REG 7/1/2011: 82 (Becker)
BEC 8/3/2011: 91 (Becker and Ninja)

[Greaterthan74]

Hello All,

I have been studying for the exam for about 6 months now and passed three parts. I am just completely exhausted with studying, work, and life at this point. I'm scheduled to take my last (hopefully last) exam on 4/18/11. I definately do not think I put in enough study time for this exam at this point. My question is if I take the exam and not reschedule, can I resign up in the same window if I think I failed? For example, I take the exam on 4/18 and I come home and sign up to sit again at the end of May.

Will I be allowed to do that?

FAR - April 2011
REG - Passed
AUD - Passed
BEC - Passed

[tableleg]

You can NOT take the same exam twice in the same window.

[Greaterthan74]

Thanks for you quick response, but you know this for sure?

FAR - April 2011
REG - Passed
AUD - Passed
BEC - Passed

[jeff]

You can only take – FAR for instance, once per quarter.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Greaterthan74]

Hmmm….It might be a good idea to reschedule the exam until May in this case.

Thanks for your response!

FAR - April 2011
REG - Passed
AUD - Passed
BEC - Passed

[kperrucci]

So this is from a Becker Final Exam (not the actual CPA exam, so no worries about giving out the question)

Please read this and give me input so I can make sure I'm not going crazy:

Zulu Transportation Inc.'s pension trustee provided the company with the following information for its defined benefit pension plan at December 31:

Unrecognized prior service cost 240,000

Unrecognized net gain 75,000

Net periodic pension cost 385,000

Zulu has an effective tax rate of 30%. What amount would Zulu report in accumulated other comprehensive income related to its pension plan on its December 31 balance sheet?

I put $115,500 as my answer and they marked it wrong. It says it should have been $0 and here is why:

Under IFRS, unrecognized prior service cost and unrecognized net gains are off-balance sheet items that are disclosed in the footnotes only and are not included in the pension benefit asset/liability or other comprehensive income.

It goes on to say that $115,500 is the correct answer if this was under US GAAP.

My question is….can you figure out anywhere in the question where I should have picked up that this was an IFRS related question?

FAR 4/9/2011: 88 (Becker)
AUD 5/16/2011: 88 (Becker)
REG 7/1/2011: 82 (Becker)
BEC 8/3/2011: 91 (Becker and Ninja)

[Herbieherb]

It's on through words defined benefit obligation. Gaap has some other wording, I think its PBO?

NEW YORK- DONE

[kperrucci]

Projected Benefit Obligation! Thank you! I could not figure it out.

FAR 4/9/2011: 88 (Becker)
AUD 5/16/2011: 88 (Becker)
REG 7/1/2011: 82 (Becker)
BEC 8/3/2011: 91 (Becker and Ninja)

[Herbieherb]

Yes! Tricky question tho…be on le look out for things like that! And was the gaap answer choice A?

NEW YORK- DONE

[kperrucci]

The GAAP answer was the one I had put: $115,500 So at least I wasn't completely off the grid.

FAR 4/9/2011: 88 (Becker)
AUD 5/16/2011: 88 (Becker)
REG 7/1/2011: 82 (Becker)
BEC 8/3/2011: 91 (Becker and Ninja)

[Herbieherb]

I mean was that an mcq question or a sim?

NEW YORK- DONE

[kperrucci]

Ahhh MCQ

Choice a) $0

Choice b) $115,500

FAR 4/9/2011: 88 (Becker)
AUD 5/16/2011: 88 (Becker)
REG 7/1/2011: 82 (Becker)
BEC 8/3/2011: 91 (Becker and Ninja)

[Herbieherb]

Wow that's really tricky! I am always suspicious when choice A is the correct and I thought they put the right.answer first hehe…good luck with the beast

NEW YORK- DONE

[kperrucci]

Thanks! I need it 🙂

FAR 4/9/2011: 88 (Becker)
AUD 5/16/2011: 88 (Becker)
REG 7/1/2011: 82 (Becker)
BEC 8/3/2011: 91 (Becker and Ninja)

[Author]

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