[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

[jon5kshp]

EXPERT CPA EXAM CANDIDATE HERE….

and by Expert i mean the following

ive taken 14 EXAMS

im 2 for 6 on AUd

im 1-3 on BEC

im 0-3 on REG 4th score coming next week…… I felt like i gave a potentially passing effort

im 0-1 on FAR…. i have 2 shots at far before BEC expires May 31… and i am praying!! i passed REG so i dont have to split time cause that will be a back breaker for me!

QUESTION….

i am using Bisk CPA and BOB Monette as instructor for videos… FAR has 50 hours of videos…

i am finding to get thru all the videos + all the multipe choice once… plus practice a few simulations i END UP AT THE TEST DATE…..

this means i have to rely on being able to get correct answers having gone over everything ONLY ONCE….

QUESTION? Any strategies on how i can quicken things up or atleast give myself time to go over all the questions i got wrong a second time around…

its rough going into the test on 1 go around and in………

although i did get a 61 on the exam and i didnt even get to study government or non-profit accounting other time around….

Here is my current time line…

i took Reg Jan 19th in the morning… THAT NIGHT I STARTED FAR STUDYING…..

as of today..12 days later im on chapter 6 Bonds… finished the videos doing the 50 questions tonight.. there are 20 chapters and i have 28 days left……….. anybody have a strategy…. otherwise im gonna continue trying to get in 3 hours a day and just hope and pray i can put it all together.

15 exams taken since May 2007 Passed Final Exam FAR on Feb 29th. Found out i was Done March 7 2012

2-6 on AUD 75,85
1-3 on BEC 75
1-4 on Reg 78
1-2 on FAR 68,80

NEED TO GET MY LIFE BACK!... AMENDED...GOT MY LIFE BACK AS OF MARCH 7 2012!!

[CPA_Dallas]

I'm taking FAR on the 29th, I got 70 last time i took. I'm watching lectures and working on passmaster. I might have to skip couple of lectures in between, but i'll do all the questions in passmaster. I also have to do sims from wiley. ugh! It is a scary exam, for sure!

FAR 70 RETAKE 02.29.2012
BEC 05.30.2012

[katiekanton]

@jon5kshp

I'm using Bisk too, and we're about the only ones on here that do. We ought to start a Bisk thread and just keep posting in it.

Anyway, I'll be sitting for FAR in the next week, so I'll let you know if my method has been effective. I started out with:

1. Watch lecture, taking really good notes

2. Read text

3. Do all MCQs and Sims and Research questions in the software

4. Next chapter

I got bogged down around Bonds and spent 3 days on that chapter, and I study full time, I don't work. I also lost a lot of time on pensions. Soooo, with my NTS expiring soon, I've had to eliminate. I stopped doing Sims and research because my AUD exam (the only section I've sat for so far) was absolutely NOTHING like the sims in the software. That doesn't mean they're worthless because you learn lots of tips and exceptions while doing sims. But I figured the time was better spent on MCQs. Then as it got closer, I stopped reading the text. If I got a MCQ wrong, I would read the section it pertained to. Now I'm really running out of time, and I'm down to just lectures and notes. My plan has been to take really great notes and know them inside and out, and just take my chances. The money's lost whether I sit or not, so I gotta give it a shot.

I do love Bob Monette, though.

AUD - 88
FAR - 90
REG - 85
BEC - 88

[Anonymous]

Hey guys, hope everyone is doing good studying !

I'm scheduled to take FAR on the 28th , I have an online business and I work 4-6 hours a day.

I began studying with Rogers last week , watching all lectures etc.. And I feel a bit lost at the moment and usually get bored and end up procrastinating the rest of the day so I'm trying something new and starting fresh.

I'm going to just do multiple choices non stop for every chapter and read the solutions and see if it can help me luckbox a passing score. I would rather not even take FAR at the end of the month but I may as well take it since my nts expires.

anyone has other suggestions?

[HustlinHustlin]

Glad to hear a lot of people that were stressing from the first wave passed with flying colors! Hopefully the rest of us are as lucky.

B 71 - 79 EXPIRED
A 69 - 75 EXPIRED
R 65 - 48 - 45
F 56 - 61 - 65 - 64

Becker, Wiley Test Bank, Wiley Text and Ninja Notes

"The fish who keeps on swimming is the first to chill upstream" -311

Experience - Done, like WAAAY done.
Still need 30 more credits, in basket weaving (gotta love new CA requirements)

[Anonymous]

@jon5kshp

My advice would be to skip watching the lectures all together and just work on multiple choice problems only (plus sims). Since you've already taken FAR once before, I'm assuming you already watched the videos last time. I was in the same position where I had to retake FAR and started re-watching the videos. A friend of mine who scored in the high 90's on all of her exams advised me to not waste my time on the videos or the book since I've already seen them once, and just work on MCQ's. That is where you will really learn the material, and you will still see the explanation after you answer the question anyway. If I needed to reference the book then it was there for me. But I felt that I was wasting valuable time watching the videos and re-reading material since in my opinion you learn more by doing, rather than watching/reading. Good luck!

[Anonymous]

Could someone please help me pass FAR. I am so sick of studying this stuff for the second time! I am so close to being finished and just want a freaking 75! I went to Becker's live final review in Dallas this weekend. 14 hours of working problems was terrible! I do feel better now than I did before the class but, I just want some reassurance that it's all going to work out on Saturday. Any advice?

[GMYDONE]

First, I want to say good luck to all who's going through this daunting task. I just finished my exams after two years struggling through this process, and I want to share my experience with FAR specifically because this was my most recent exam…and the strangest. I took FAR in Nov 2011 and scored a 73. Almost every one of my questions was computations and my simulations were insanely difficult. I could feel my 2nd and 3rd testlet increase dramatically in difficulty and I had only about 45 mins left by the time I got to the sims. There was just no way I could get to the sims testlet any sooner because I had so many calculations on my first 3 testlets. My diagnostics showed I was stronger in every category, except sims where I was weaker. So I failed because of the sims. I re-took this exam in Jan 2012, and scored an 82! But this is the strange part…I felt this new test was way different that the last one I took (much more straight-forward). I didn't have as many computations, and I couldn't feel the testlet getting more difficult. Because I couldn't sense the increase in difficulty, I assumed I was doing poorly on the exam. I got to the sims with 1.5 hrs remaining, and the sims this time were not nearly as difficult as the prior ones just a few months earlier. After the exam, I thought I failed because I didn't get any ‘difficult' testlets. But I passed! I just want everyone to know, there is such a wide range in tests that you may receive…and don't get discouraged! If you get close to passing a section (i.e. 72, 73, 74, etc.), chances are you already know everything necessary to pass! Good luck to everyone!

[TooMuchStudying]

I just took FAR this morning and that was a hit in my head! I use Becker, viewed all the videos, did all the MCQs TWICE and all the SIMS! Did both final exams. And today, I felt like I totally did not prepare enough. I have studied more than my entire college career for this exam and I'm so beaten up with how hard it was. Specially Testlet 2 and Sims. I guess since I messed up testlet 2 so bad I got the 3rd one much easier. However the Sims was ridiculous. URG! I hated it! Don't think I can pass this freak but I'm keeping my finger crossed because I DO NOT want to retake it. I have the other 3 parts to study for… This is brutal :(((((

FAR - 82 (2/6/2012)
REG - 75 (phew!)(4/16/2012)
BEC - 77 (5/31/2012)
AUD - 61 (7/17/2012), WAITING!!! (10/15/2012)

[Anonymous]

@toomuchstudying

I took FAR on 1/20 and had the exact same experience as you – MC testlet #2 was awful and since #3 seemed more reasonable, I figured I missed a bunch. The simulations were horrible too!! good news – I passed with a 79….so don't be too hard on yourself, I bet you did better than you think!

[TooMuchStudying]

@ariasem: Thank you so much! That really calms me down a bit. I have been obsessed with reading reactions and comments to see how other people's experiences are. Congratulations on passing FAR, this is really an exam we will never miss!

FAR - 82 (2/6/2012)
REG - 75 (phew!)(4/16/2012)
BEC - 77 (5/31/2012)
AUD - 61 (7/17/2012), WAITING!!! (10/15/2012)

[Anonymous]

For some reason I can't figure out this problem. Will someone help please?

Data related to the inventories of Alpine Ski Equipment and Supplies is presented below:

Selling Price 180,000

Cost 128,000

Replacement Cost 120,000

Sales Commission 10%

Normal Gross Profit Ration 20%

In applying the LCM rule, the inventory of skis would be valued at:

The answer is 126,000. Could someone show me how to work this please!

[Zizoty]

NRV 180K- 18k = 162k(ceiling)

Cost 128K

NRV-GrossProfit 126K(floor)

RC 120K

If RC is between 162k and 126K, then you would pick RC value. Since RC value is 120 and below 126k, you would pick 126k as the value of inventory.

AUD - 83 Feb11
REG - 75 May11
BEC - 73 July11 84 Oct11
FAR - 63 Aug11 76 Feb12 I'M DONE!!!!!

[Anonymous]

When doing LCM problems you start by picking the middle of the:

NRV (ceiling) – $162

Replacement Cost – $120

NRV less gross profit (floor) – $126

Then compare the middle number, in your case the NRV less gross profit ($126) to the actual cost ($128), and pick whichever number is lower

[Anonymous]

Thank you so much! I couldn't figure out how to calculate the floor with the Profit Margin Percentage.

[Author]

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