[Tina82]

Is anyone taking FAR next week? My exam is on the 15th. After my first try I thought to myself that I wasn’t so terrified to take it, but now I’m super nervous. What’s your plan for the remainder of the week?

I posted mine in the power weekend thread, but it’s basically to re-read book/notes as needed, redo Becker questions and do some Wily Questions. Review IFRS and NINJA notes next week. Also have to review some smaller arear in Ch.10.

Anyone else freaking out???

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[Tina82]

@memmy

Do NOT get discouraged by mcq. Treat them as a learning opportunity. It doesn't matter if you get a 100% right if you're just robotically going through them. I'm going through them pretty quicky now (for the ones I know of the top of my head) and for the ones I get wrong or am unsure about, I try to think why the wrong answers are wrong before I even read the Becker explanation. I don't do this for the stuff I know as at this point it's a waste of time.

Do all of Ch1 today!!!! – It's pretty straight forward and shouldn't take very long.

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[memmy29]

@Casagarber,

Can you tell me what section you found Cash to Accrual within the cpareviewforfree questions? I can't seem to find it under any of the sections listed. Thanks!

AUD-84, REG-75, BEC-84, FAR-77

Licensed CPA

CIA Exam
Part 1 - Passed
Part 2 - Passed
Part 3 - Passed

[Tina82]

memmy if you find anything on accrual to cash let me know. Not in Becker really (except for that one SIM). Some of the mcqs I've seen adjust cash income for change in receivables adjusted for unearned income.

Thanks

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[Tina82]

FYI, Question #23 (out of 104) in Wiley's section on “Basic Concepts” has a chart if you click on the textlink.

Darn, I forgot they are in different order every time.

It's the one about James Lee MD

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[memmy29]

@Tina,

The only reliable thing so far is the two equations in the NINJA notes. I'm wondering if they'll solve any question that comes along though, of if there are other items. You know what I mean?

AUD-84, REG-75, BEC-84, FAR-77

Licensed CPA

CIA Exam
Part 1 - Passed
Part 2 - Passed
Part 3 - Passed

[Future GA CPA]

Hey guys! Checking in. I've been doing sets of 30 questions on the Becker progress tests and keep scoring between a 75 and 85. Reason to panic yet that I'm not scoring higher with a test date on Friday? Hope everyone is doing well!

AUD - 87 4/9/13
FAR - 85 5/17/13
REG - 75 7/1/13
BEC - 82 7/29/13

Now just waiting on experience starting in January

[mangos]

One part I wouldn't overlook is governmental and non-profit… Seemed to be important when I took the exam a couple of days ago.

FAR (5/07/13): 96

[Future GA CPA]

Government and Nonprofit seems to be my strongest section. I'm consistently answering 100% of those questions correct on every progress test I've attempted.

AUD - 87 4/9/13
FAR - 85 5/17/13
REG - 75 7/1/13
BEC - 82 7/29/13

Now just waiting on experience starting in January

[Tina82]

Yes memmy I know what you mean. I got this so far:

Cash

+ Increase in Receivables

– Decrease in AP

___________________

Accrual Income

Or (the basic account format)

Beg. A/R

+ Sales

– Cash Collections

_______________

End AR

I think I will just do a reverse of the cash flow statement with changes in assets and liabilities. Let me know if you have any other ideas.

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[memmy29]

@Tina,

I haven't worked through problems yet to see what the best equation to memorize is…but I have seen this:

Sales

+Ending A/R

-Beginning A/R

=Sales Revenue on Accrual Basis

and

Cash paid

+Increase in A/P

-Increase in Inventory

=COGS on Accrual Basis

Also, someone in one of these posts said something that I found helpful: Cash to Accrual: “A change in assets takes the same sign; a change in liabilities takes the opposite sign”. Meaning for example that an increase in assets is added. Does this make sense? I guess I should get going on trying these out…you've seen problems in F-2 you said?

AUD-84, REG-75, BEC-84, FAR-77

Licensed CPA

CIA Exam
Part 1 - Passed
Part 2 - Passed
Part 3 - Passed

[Tina82]

Yes, not too many problems. I think I have a strategy. Use the few basic formulas and for all else reverse cash flows, which is the last thing you described. Thanks!

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[Tina82]

Double post

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[memmy29]

@tina,

Yes, the last part seems to be the easiest to remember. I'll let you know if I come up with anything else.

AUD-84, REG-75, BEC-84, FAR-77

Licensed CPA

CIA Exam
Part 1 - Passed
Part 2 - Passed
Part 3 - Passed

[Author]

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