[jeff]

I’ve had a few requests for April/May Study Groups…March will be here before you know it.

In order to take an early April exam, you should begin studying…now. 🙂

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[stoleway]

@WileyoleYaeger

I think you are putting yourself in a difficult time constraint. I wouldn't study FAR for two months, others have done it and succeeded but in my own estimation FAR is too much information to absorb in just two month. You can only do this if you're studying full time. You also need to give yourself sometime to study the material very well., because FAR is a different beast among all the other sections.

I started studying 2 months ago and I'm only 60% complete. I am giving myself maximum of 3 months to sit for FAR.

My test is scheduled on ending of April.

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[WileyoleYaeger]

Yeah they wont let me push my test back any more so I have to take it April 29.

[Anonymous]

Becker comprehensive test yesterday 86, today 82…….is it possible to lose brain cells during your sleep???

[NJPRU]

doesn't look like you have anything to worry about brooklyn lol

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[SpartanCPA]

Ross Co. pays all salaried employees on a Monday for the five-day workweek ended the previous Friday. The last payroll recorded for the year ended December 31, Year 2, was for the week ended December 25, Year 2. The payroll for the week ended January 1, Year 3, included regular weekly salaries of $80,000 and vacation pay of $25,000 for vacation time earned in Year 2 not taken by December 31, Year 2. Ross had accrued a liability of $20,000 for vacation pay at December 31, Year 1. In its December 31, Year 2, balance sheet, what amount should Ross report as accrued salary and vacation pay?

a. $89,000

b. $69,000

c. $68,000

d. $64,000

AUD - 01/18/14 - 81
BEC - 05/29/14 - 85
FAR - 07/18/14 - 81
REG - 11/18/14 - 80

Becker CPA Review
NINJA Audio
Michigan State University

[Anonymous]

I hope not NJPRU, I cannot imagine going through studying for FAR again. I'm just hoping for a bunch of partial credit on the SIMS, LOL . An entire year devoted to studying is enough for me!

[How many letters do you need]

Good afternoon all. Hope everybody is enjoying their Saturday of studying. I spent my morning on a Wiley practice exam and only got a 72…but I have lots of low hanging fruit. At least 10 questions were on IFRS and pensions which I haven't really reviewed that much so far. I still have two weeks to exam day, but these two weeks are going to FLY, so I'm taking nothing lightly…time to tighten the screws! Shooting for an 80+ in the WTB when I attempt again two weeks from today…

Also, I noticed the SIMS were silly rediculous easy (except for one crazy consolidations SIM)…..anybody else feel that way? I'm definitely following prior advice in here of reviewing the SIMS in the book rather than the test bank.

Happy Sat studying all…

MBA,CMA,CPA, CFF?, ABV?

[Anonymous]

Spartan, what's the choices?

[Anonymous]

I agree with you Letters, the Wiley SIMS are a lot easier than the Becker SIMS. I have Becker but I supplement with the Wiley test bank.

[How many letters do you need]

Spartan….$64K for salaries…vacation pay..$45K?

MBA,CMA,CPA, CFF?, ABV?

[Anonymous]

I got the 64K for salaries as well, the vacation pay is what's tripping me up because we had an accrual for 20 to begin with, no information whether anything was taken on them or whether they continue to rollover. I'd go with the 45K as well.

[SpartanCPA]

The answer is $89,000 ($64,000 + $25,000 vacation pay (assuming the $20,000 was used)).

I had no idea how to solve this problem 🙁

AUD - 01/18/14 - 81
BEC - 05/29/14 - 85
FAR - 07/18/14 - 81
REG - 11/18/14 - 80

Becker CPA Review
NINJA Audio
Michigan State University

[Anonymous]

How are we supposed to know that the 20 was used? I call bs !

[How many letters do you need]

Confused regarding the vacation. Why does it assume the prior years vacation accrual was used? It mentions nothing about rollovers or expiration. I would think it makes more sense to assume that it wasn't since it states that vacation earned over what was taken in year 2 was 25K. So I would assume you had a balance of $20 + a net increase in vacation accruals of $25K to equal 45K…no? I hate ambigous questions like this. Sometimes they give way too much information, and sometimes way too little….

Spartan: The 64K on salaries is just because you had one five day week at 80K, and one day of the five day week fell within the following year, so you wuld only accrue for four days (or 80%) of the final weeks pay into the existing year. So it's just $80K*80%.

MBA,CMA,CPA, CFF?, ABV?

[SpartanCPA]

Yeah, I definitely agree with the $20K. The explanation stated that we “assumed” the $20,000 was accrued in Year 1 and used up in Year 2.

Reviewing over accounting for income taxes now =

AUD - 01/18/14 - 81
BEC - 05/29/14 - 85
FAR - 07/18/14 - 81
REG - 11/18/14 - 80

Becker CPA Review
NINJA Audio
Michigan State University

[Author]

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