[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]

@mommy…… both

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

Mass-CPA

[Anonymous]

Hey JRosen! It's actually both–Assignment is taking out a loan with the collateral being the receivables so you would get cash from that. Can you take a look at mine and NJPRU's answer to your earlier question on Dollar Value Lifo and let me know if we were right?

[jrosen92770]

Now I think its both.

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[jrosen92770]

CPAMomma – You are correct $117,120. My question is why use 1.07 in year 3?

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[Anonymous]

You actually have to take it back to the Year 2 price index because year 3 gives you a liquidation so you use 16,000 (20,000 from year 2 – 4,000 liquidation in year 3) * the year 2 index. I had to look in the book when I did it. I need to figure out how to commit this to memory.

[Anonymous]

You have any particular areas you want to be quizzed on?

[Anonymous]

Reporting under IFRS: What amount for inventory should be reported on the balance sheet given the following data?

Historical Cost $1,000

Estimated Selling Price $900

Estimated costs to complete and sett $50

Replacement Cost $800

[jrosen92770]

So far I have studied the following: Standard setting, Income Statement, Reporting Requirements, Matching, Marketable Securities and Business Combinations, Working, Capital, and Fixed Assets.

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[jrosen92770]

NRV – Selling Price – cost to complete which is $850 compared to $1000

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[jrosen92770]

Thanks CPAMommy asking BTW

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[Anonymous]

I'm not too great at Business Combos and I could use a refresher on marketable securities if you want to hit me up with those areas and I'll get you with the other ones?

[jrosen92770]

What are the 3 types of marketable securities and the impact of fair value on each?

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[Anonymous]

Available for Sale–Changes in FV are reported in OCI

Held To Maturity–No impact when there are changes in FV

Trading Securities–Changes in FV are reported in current period earnings

[Anonymous]

What is the difference between S-X and S-K?

What is the difference between 10K and 10Q?

[jrosen92770]

10K annual filing with SEC. FS must be audited

10Q quarterly filing with SEC. FS must be reviewed

S-X are the filing requirements.

Isn't S-K basically the same?

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[Author]

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