[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

[Peanut]

@CPAPASSER– https://www.another71.com/cpa-exam-forum/topic/how-many-points-for-research-question

After I took REG the first time I was nervous because I missed both research questions so I responded to this old post and got a lot of feedback. Unfortunately missing both of those research questions killed my score….

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[Anonymous]

I sat for FAR last night and let me share a couple things that seem to be aligned with other conversation: make IFRS your friend and know your journal entries. Unfortunately, I struggled with some on two of the sims.

The exam got off to a good start… my second testlet was definitely harder than the first; however, the third was easier than the second, so I'm sure I didn't do very well. Hopefully I took advantage of the easier third testlet to help my score. For the most part, I found the sims on par with what i saw in the Wiley testbank and in Becker. Of course, the topics covered in two of my sims related to areas in which i wasn't particularly strong… funny how that works. Hopefully partial credit will carry me through. I didn't leave feeling great, but there's nothing I can do about it now other than begin prepping for REG.

[Peanut]

I'm in the process of writing out all J/E's for FAR just to become familiar with them all. I see a lot of people are reporting back from their exams that they've seen a lot of J/E SIMS and I just want to be prepared. At the beginning of my studies for FAR I wrote out all J/Es for Gov't & NP, so I'm very comfortable with those. I'm going to begin writing out JEs for treasury stock, foreign currency transactions, acquisition method, aside from these and without violating AICPA can anyone think of any other entries I should glance over before my exam in a week? I'm not necessarily asking those of you who have taken the exam, just if off the top of your head you can think of other JEs for FAR. I just don't want to flip through the entire Becker book, and all the JE's I've listed are the only ones I have in my notes. Thanks everyone!

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[Minimorty]

@Peanut – I would know the journal entries for nonmonetary transactions.

[jnavarro]

Others I suggest include:

* Government!!

* Treasury Stock (as you mentioned) – Par vs Cost Method

* Fixed Assets – Nonmonetary Exchanges and Impairments

* Bonds (discounts and premiums) (effective method and S/L method)

* Government!!

* Stockholders' Equity (lots here: scrip dividends, property dividends, liquidating dividends (which all affect S/E); quasi reorganizations; dividends when declared and when paid; stock dividend – 20% vs 25%+; PREFERRED STOCK WITH DETACHABLE WARRANTS!; Common Stock subscriptions)

* Consolidating eliminating AJE (Becker: “CAR IN BIG”)

* Partnerships: Bonus, Exact, and Goodwill Methods

* Government!!

Seems like a lot, but after re-writing them over and over, they become easier. I almost forgot one more, Government!!

BEC: pass
REG: pass
AUD: pass
FAR: pass

[Anonymous]

J/Es for long-term construction contracts might be a good one, too.

[Peanut]

You guys are awesome! I believe if you know the J/Es, you can answer the MCQ's twice as fast knowing the back bone of how the entries work and which accounts are increased/decreased. 7 more days until this beast!

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[RedRage00]

jnavarro,

So what you're saying is that it'll have government? LOL

Texas CPA
Licensed, March 2012

[Anonymous]

I took it a week ago (July 2nd).

I had a lot to do with IFRS first year conversions and had 2 government simulations…Needless to say it was a rough exam. I'm 3 for 3 so far passing first time (close call with a 75 on REG). Im knocking on wood that it'll be 4 for 4.

Goodluck to all those about to take it. Becker helps but, especially after July 1st, they are getting a lot deeper into the IFRS based questions.

[Harry]

@ CPABound and Down. What do you mean that Becker after July 1 on IFRS? I have the 2011 material and plan on taking FAR in Oct. Do I have the most updated IFRS questions/material?

Thanks

BEC 77
FAR 81
AUD 97
REG 75

[Anonymous]

@ Harry – Ya you should be fine. I ment that the additional updates that occured on July 1st. Becker covers them and does mention them. I would go through the AICPA website and looking into the changes (they have a .pdf that covers it all). I would also recommend taking practice exams from the AICPA and any other source along with Becker to get the most exposure to different types and forms of questions.

[RedRage00]

How do you all practice the research sims?

I was on the AICPA site and it seemed so difficult to navigate. I didn't get very many of them right on the first try. ugh. I plan to navigate it a bit more but right now I'm a little frustrated with it. I thought the research sims were supposed to be the easiest lol

Texas CPA
Licensed, March 2012

[Anonymous]

You can't study for the simulations. Just be ready for anything. I was ready for what was needed and was still tripped up!

They always add a nice twist.

[Joe36y]

I am starting to study for FAR tomorrow do you think 7 weeks is enough time to study?

BEC: 82
FAR: 79
AUD: 85
REG: July 10th

[Anonymous]

You can study for the research sim by practicing navigating throught the FASB ASC. You get a free login for students (I think CPA candidates can get a free login too).

[Author]

Replies