FAR – Exam Prep - Page 89

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  • #375999

    Can someone clarify…a stock dividend reduces retained earnings, but does it also affect stockholders equity?

    #376000
    misanthrope87
    Participant

    Yes, because retained earnings are part of stockholder's equity.

    B 2/12 87
    A 11/11 90
    R 8/11 86
    F 5/12 88

    #376001
    Texas27
    Member

    @Happen4reason

    misanthrope87 is actually incorrect. Normally if retained earnings is reduced the SE is also reduced but when a stock dividend is declared retained earnings is reduced and another SE account is increased by the same amount thus it has no effect on stockholders equity. The other SE account depends on how big the stock dividend is compared to shares outstanding.

    If it is <20-25% of the previously outstanding shares then the journal entry is:

    DR: Retained Earnings

    CR: Common Stock (par value)

    CR: Additional Paid-in-Capital (difference between par and FMV)

    If the stock dividend is >20-25% then there are two different journal entries… one for the declaration and one for the actual distribution:

    Declaration:

    DR: Retained Earnings

    CR: Common stock distributable

    Distribution:

    DR: Common stock distributable

    CR: Capital stock, par value

    BEC - Feb 2012: 80
    AUD - Feb 2012: 84
    FAR - Apr 2012: 78
    REG - May 2012: 90

    Thanks Becker!

    #376002
    mazel-tov
    Member

    @dualmatrix….. I am on the exact same boat you are. I cant focus on ANYTHING for the life of me. I keep thinking that the information that I had for far will go away if i continue to study for AUD…. I wish we were able to find out if we passed or not. That way I can have a bit of motivation to move on…

    B-August 31, 2012 (Passed!)Last Exam.Also thought I failed...
    A-May 14, 2012 (Passed!)Second Exam.
    R-July 9, 2012 (Passed!) Third exam. This one I definitely swore I had failed....
    F-April 4, 2012 (Passed!)First Exam.

    Licensed in INDIANA!!!!

    #376003
    Anonymous
    Inactive

    I just took the FAR four days ago and I'm still tired! I also can't wait until May to get my scores. I was told that the scores will arrive either May 4th or the 7th. Of course the 4th is on a Friday. How dare I think that my score will arrive before the weekend!

    “May the Fourth be with you!” LOL

    #376004
    Lady in red
    Member

    Wrong! Score release for 1-20 days of this testing window will be released on May 7th. It's all official.

    MA candidate

    AUD Passed (78) expires 1/31/2013
    REG Passed (78) expires 4/30/2013
    BEC Passed (75) was 39 weeks pregnant:))
    FAR 67,73, 1/27/2013

    #376005
    Anonymous
    Inactive

    It will be on May 4th, guaranteed. NASBA did the same last quarter.

    #376006
    Anonymous
    Inactive

    I just got an email from them. They said the 7th. I just wanted an excuse to say “May the Fourth be with you” hahaha

    #376007

    I'm thinking it's going to be the 4th. In the last window I'm pretty sure AICPA was off too. I remember thinking the scores were gonna be released on a Thursday, but seeing the score release thread blowing up on that Wednesday. Granted, it depends on which section they release at what time…I took REG in the first window and my score wasn't released until the wee hours of the morning on Thursday, after all the scores for the other three sections had posted.

    REG (2/24/12) - 89
    AUD (4/5/12) - 89
    FAR (5/31/12) - 91
    BEC (7/7/12) - 84

    #376008
    Texas27
    Member

    Ok, here is the deal with score releases…

    The official score release target date for days 1-20 of this window set by the AICPA is May 7th. This is the date that the AICPA, NASBA, and any state board will tell you that they will be released. However, since the AICPA has started this new score release format, scores have traditionally come out a few days prior to the AICPA target release date. This has held true to every release so far this year. On the other hand, this only really applies to NASBA states. Non-NASBA states have their own process for score releases which usually takes longer than NASBA. Jeff has posted his predictions for when the AICPA will actually release the scores based on the trends of past releases and so far he has been on spot every time with predicting when NASBA states will start receiving their scores.

    So… if you are a NASBA state, then you should start looking for your score on May 4th. If you are a non-NASBA state then you should receive your score 1-3 days after the NASBA scores start to release.

    BEC - Feb 2012: 80
    AUD - Feb 2012: 84
    FAR - Apr 2012: 78
    REG - May 2012: 90

    Thanks Becker!

    #376009
    Anonymous
    Inactive

    So, today is the 1st of 12 final review days and I already have the final review blues. I went through about 70 MCQs from the sections that I went through at the beginning of this whole process and I scored embarrassingly low. Looks like I haven't retained much information at all. Have any of you ran into this problem? If so, what did you do, did your scores improve and did you pass the exam? Also, when you did a final review (specifically MCQs) did you review each section separately or did you try to mix them all together in order to emulate the exam?

    #376011

    @EELCPA–Don't let that discourage you! It might help for you to look at the topics the questions are on that you got wrong–and re-write those notes by hand. It's long and tedious and your hand will be killing you when you're done, but it REALLY helps you retain the information better. I did that for REG (score below) and AUD (should find out my score May 4). Just study study study until the end and you'll get there!

    REG (2/24/12) - 89
    AUD (4/5/12) - 89
    FAR (5/31/12) - 91
    BEC (7/7/12) - 84

    #376012
    MazyJane
    Member

    I am taking FAR again on 5/26. I've been doing some light studying for the past couple of weeks. When should I start working MC questions? I know Jeff says wait until you've watched all of the lectures and then do MC questions at the end. I don't want to watch the lectures again, so what should I do between now and then? I have Becker software, Ninja notes, and Ninja audio. I have 5 weeks left and want to make the most of my time. Thanks for your help.

    #376013

    @MazyJane–I disagree. I'm using Becker for my review, and here's my strategy:

    Watch each lecture before the in-class session

    Attend each in-class session

    Do the MCQs/SIMS for that section after the in-class session, but before the next in-class session

    Take a progress test after completing the homework for each session

    Repeat for each in-class session.

    Then, after the in-class sessions are done, but before the exam:

    Re-write the notes that Becker highlighted as the most important for each section

    Re-do the MCQs/SIMS for each section

    Take as many progress tests as possible

    Do the Becker final exams the last couple of days before the exam (a score in the mid-low 70s is good)

    Make sure I get a good night's sleep the night before the exam and eat a breakfast of good grains and protein that morning

    It worked pretty well for me for REG…I did the same for AUD and I'm still waiting on my score for that one but I feel about the same about AUD as I did for REG.

    It's a lot to do but remember–the more miserable you are now, the more it will pay off later!

    REG (2/24/12) - 89
    AUD (4/5/12) - 89
    FAR (5/31/12) - 91
    BEC (7/7/12) - 84

    #376014
    MazyJane
    Member

    @wickedrentlover – Thanks so much! I will give your approach a try.

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