[confusedcandidate]

What are some of your best/favorite mnemonics for Far? I’ll start with a couple I made up:

Deferred tax assets and liabilities: If your book income is less than your tax income you have an asset. B < T = A, or BLT=A, and we all know a BLT is a delicious asset. And of course if it’s the opposite it’s a liability. Ok it’s stupid but it works for me.

Capital lease requirements: I always confuse whether it’s 75% or 90% of the economic life or the present value of minimum lease payments. I remember it because a 7 is an inverted L and a 9 is an inverted P. So 75%=Life and 90%=Present value.

Any others?

Weekends are meaningless to a CPA candidate

[acctaks]

Why don't you just use the ones in Becker? I used to make my own up but I figured I'd use theirs and it worked out fine. It's also good because they refer to them and if you're making your own up you might get confused. I would anyways. Like for capital leases it's

Ownership transfers at the end of the lease

Written option for bargain purchase

Ninety percent of leased FV

Seventy Five percent of economic life

CAR IN BIG, SIR AGE, and BASE saved me in my exam.

F-Pass
A-Pass
R-Pass
B-Pass

I'm a CPA!

[TheNextCPA]

My best ones are GOES BARE, IDEA, SIRAGE and PUFER from Becker!

FAR - 11/30/2014 (?)

[thelonewolf527]

Sean Puffy Combs likes to revalue his income

AUD - 08/04/14 - 83
FAR - 11/29/14 - 80
REG - 02/26/15 - 89
BEC - 05/30/15 - 86

DONE!

[Matt]

It always bothered me that the “A” in “SIRAGE” stood for “amortization” when “G” and “E” also were amortizations. So I just remembered it as “SIR PGE”, which might not be as snazzy of a mnemonic, but at least it's logically consistent and appeases my OCD tendencies. For those who insist on actual words, “SIR PEG” should suffice.

Other then that, I've got nothing.

AUD: 88
BEC: 79
REG: 81
FAR: 72 » 74 » 88

Study method: 100% watching videos, including solving problems covered therein; no books, paper, or pencils

[Texan_Stuck_In_OK]

DRIP CEG PIPPA “Drip the Keg, Pippa”

Consonants in the first two, DRPCG, are the governmental fund types and use modified accrual accounting

Vowels in the first two, IE, proprietary fund types and use accrual accounting

PIPPA are the fiduciary fund types and use accrual accounting

A 88, B 76, F 84, R 76 Passed 2014

Licensed in OK

[Author]

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