FAR – IFRS Says No!

  • Creator
    Topic
  • February 23, 2014 at 6:17 pm #183886
    Anonymous
    Inactive

    No to DEVELOPERSS!

    D – Direct Financing

    E – Extraordinary Items

    V – Valuation Allowances

    E – Exchanges > Gain recognition for exchanges of similar assets

    L – Legal Method/Par Value Method for Treasury Stock Accounting & also

    LIFO for inventory valuation method

    O – Operating Activities > Reconciliation of Net Income to Net Cash Provided by Operating Activities as a supplemental schedule

    P – Prior Service Cost [PSC] > Retroactive adjustment for PSC

    E – Equity Category > Comprehensive Income presentation as a separate category in the Statement of Equity

    R – Reclassification of Financial Liabilities between amortized cost & PV

    S – Sales lease type

    S – SLM > Straight-Line Method of premium/discount amortization

    Does anybody have some more items to add here? Thanks!

Viewing 15 replies - 1 through 15 (of 22 total)
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  • Author
    Replies
  • February 23, 2014 at 6:32 pm #518412
    Guti
    Participant

    Very good, we owe you one.

    FAR-84
    AUD-
    REG-
    BEC-

    February 23, 2014 at 6:32 pm #518447
    Guti
    Participant

    Very good, we owe you one.

    FAR-84
    AUD-
    REG-
    BEC-

    February 23, 2014 at 6:34 pm #518414
    Amay
    Member

    Skipping showers may actually be helping you come up with creative mnemonics so I am against you showering until test day. Good job! 😉

    BEC: 73, 81
    AUD: 85
    FAR: 71, 77
    REG: 74, 75...finally DONE! 😀

    *This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

    February 23, 2014 at 6:34 pm #518449
    Amay
    Member

    Skipping showers may actually be helping you come up with creative mnemonics so I am against you showering until test day. Good job! 😉

    BEC: 73, 81
    AUD: 85
    FAR: 71, 77
    REG: 74, 75...finally DONE! 😀

    *This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

    February 23, 2014 at 6:37 pm #518416
    teeteenounouche
    Member

    Thanks Amor!

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    February 23, 2014 at 6:37 pm #518451
    teeteenounouche
    Member

    Thanks Amor!

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    February 23, 2014 at 6:39 pm #518418
    Anonymous
    Inactive

    You're all welcome guys. I edited my post above to include LIFO as an additional item.

    Now I get something to blame if I don't slay FAR this Q1.

    I imagine what CR7 would say: “…Taking a shower would have helped”.

    LOL

    February 23, 2014 at 6:39 pm #518453
    Anonymous
    Inactive

    You're all welcome guys. I edited my post above to include LIFO as an additional item.

    Now I get something to blame if I don't slay FAR this Q1.

    I imagine what CR7 would say: “…Taking a shower would have helped”.

    LOL

    February 23, 2014 at 6:40 pm #518420
    How many letters do you need
    Participant

    Thanks for this! I've just started FAR so I don't have anything to contribute except my thanks!

    MBA,CMA,CPA, CFF?, ABV?

    February 23, 2014 at 6:40 pm #518455
    How many letters do you need
    Participant

    Thanks for this! I've just started FAR so I don't have anything to contribute except my thanks!

    MBA,CMA,CPA, CFF?, ABV?

    February 23, 2014 at 7:57 pm #518422
    Anonymous
    Inactive

    Addition under “L” mnemonic again:

    Long-Term Construction Contracts, completed contract method is prohibited under IFRS.

    February 23, 2014 at 7:57 pm #518457
    Anonymous
    Inactive

    Addition under “L” mnemonic again:

    Long-Term Construction Contracts, completed contract method is prohibited under IFRS.

    February 23, 2014 at 8:10 pm #518424
    Quinacridone
    Member

    This is awesome! Thank you!

    REG - Nov 4, 2013: 88
    FAR - Feb 27, 2014: 86
    AUD - April 5, 2014: 91
    BEC - May 6, 2014: 83

    Florida CPA 24 July 2014
    (Done in seven months - thank you Jesus!!)

    February 23, 2014 at 8:10 pm #518459
    Quinacridone
    Member

    This is awesome! Thank you!

    REG - Nov 4, 2013: 88
    FAR - Feb 27, 2014: 86
    AUD - April 5, 2014: 91
    BEC - May 6, 2014: 83

    Florida CPA 24 July 2014
    (Done in seven months - thank you Jesus!!)

    February 23, 2014 at 8:59 pm #518426
    Kimboroni
    Member

    Nice! Thanks for the great tip!!!

    AUD 84 (1/9/14-Wiley books/TB + free materials)
    FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
    REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
    BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

    Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. 🙂

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