@jasbeerch I know right. We took the dog for walk. I grabbed a quick nap then did the dishes. Now some coffee and back to studying! I've realized that I have to keep it up. Seriously one day of not studying just ruins my drive lol Makes me sad lol
I have a quick prob really stupid question….. I was doing Becker for Lession 1 simulations, and there was a topic I became confused on. In 1 Question, it was saying that a change from FIFO to LIFO is a change in accounting principal, which resulted in a retrospective correction, and another question that said a change form FIFO to LIFO resulted in a prospective correction. Can any one shed some light on this topic?
@givingupandsad That is a change in inventory flow method so that's a change in accounting principle so that's retrospective treatment according to my Yaeger notes. Jeff also has the same in his notes that its retrospective and a change in accounting principle.
So, I reviewed 12 subchapters in Gleim where Noncurrent liabilities are concerned and I have no patience to go back to Troubled Debt Restructurings and Cost Associated with Exit or Disposal Costs. The concepts behind them just won't stick anymore..
Maybe I'll come back to it during my review at the end, but as for right now, I am going to review the 10 subchapters i went through and try to see if I remembered it all.
Glad to see the rest of you are doing well – keep your head up mom!
So I've been studying consolidations for about two weeks. Most of that time was trying to get back in the groove. I did a sim a few times as that worksheet is kicking my butt. Well I did 20 MCQ and got a 75… Think I should move on? I feel pretty good about it. Figured about once a week I could pop out another set of MCQs as a review. When do you all move on to your next trouble area?
For J/E ( exam point of view) when we have 3 debits and 2 credits say,
Dr. New asset
Dr. cash received
Dr. Accum Depreciation
Cr. Old asset
Cr. Gain
Do we have to maintain this order ? or can we write it like
Dr. New asset
Dr. Accum Depreciation
Dr. cash received
Cr. Old asset
Cr. Gain
I gave an exam -Beckers, and it marked me wrong, when i interchanged the debits.
Also with the cash flows – Financing activity like dividends paid, issued stock…. is there any order ? or we can just put in whatever first hits our mind.
@LStevens–I think if you feel like you got a good grasp on it, your scoring in the 70s and you took notes on the ones you got wrong, you can move on to the next section. It's really personal preference. Taking a small quiz on it weekly will help keep it fresh.
@reenz–I think you can put them in any order on the exam. The review software is not as sophisticated as the exam.
Well I enjoyed my break to spend time with the family yesterday afternoon/evening after a long, long power weekend. I got to bed at a decent time to try to get back on a regular sleep schedule for this last week before my exam. I hope everyone had a productive weekend and has a great week. Good luck to everyone taking exams this week!!
hey guys! checking in after a very long week of no study 🙁 as some of you might remember i got transferred to a new position in my same organization. Now the work is really getting to me and i'm finding it very hard to make time for my study. Today i got up 3 hours earleir than my work time and drove to work early to avoid traffic and decided i will study at the office before everybody shows up. By the time I reached my parking lot I was so sleepy that i slept in my car and woke up just before 8 am. I scheduled my exam for May 8 and I'm having a very hard time to review and i'm not sure If I can do this exam on my scheduled date. Sometimes I just want to quit my job and finish this exam. I'm so confused right now
@zubairs–I understand. Balancing work and studying for this test is difficult, especially with a new position. I know you talked about quitting before. Is it something you are truly considering or do you need to work? I think if you can go without working and you aren't absolutely in love with your job and aren't scared about finding a new one after the exam, then go for it. I can't imagine how it would be to study and be in a new position with the hours you putting in. Is it not possible to study on the weekends to make up for what you can't get done during the week? Are you in the review stage or are you still reading/learning? Good luck to you. I hope that whatever decision you make works out!
@mommy you're always there for us 🙂 I'm not in love with my job but the fact of the matter is that it is a really good paying job and that is the only thing that keeps me going. Also I think it'll be a lot easier for me to find a new job once I finish my CPA but my boss actually beleives in me and keeps telling me that I can do it with my job as I am the youngest in the team with no wife or kids. As for putting time on the weekends, I try my best but it just doesnt seem to be enough. One other reason why I dont want to quit my job is that I want to do an MBA after my CPA and it requires me to have 3-5 years of managerial work experince. So either way I guess I have to stick it out like a NINJA and see this through. I'm really sorry for bringing negative vibes to this study group but I guess this is the only place where people actually understand whatI'm going through.
We understand! I had a horrible time staying on top of my studies when I was promoted to management. It was really bad timing, I was 7 months pregnant, one employee quit, and I was taking 2 classes. I tried to juggle it all, but wound up failing my class. I will say that things calmed down a lot after about 4 months in my new position and I was able to go back to taking two classes and having a newborn and a toddler. It's possible that it could just take some settling in. You have three testing windows before BEC expires so maybe you could push your test back to the end of May to give yourself some breathing room and some extra study time. You would still have two testing windows to take REG and to repeat either if necessary. It's definitely doable.
@mommy thank you so much 😀 i think I will move FAR to the end of MAY and try to talk to my boss if he can give me a week off before exam. Also I am always amazed at how you juggle so many things at once. i just got a new job and I'm feeling so overwhelmed, where as you've got a family and so many other things to look after while doing this exam. You INSPIRE me mommy to work my ass off when i feel I need a break from studies. You will definitely pass your exam on the first attempt. Good luck and kick some FAR booty 😛
I'm going to start something new this morning and start posting encouraging quotes every morning until the testing window ends. Sounds like a big task, but so is FAR and well everyone needs a little bit of encouragement whether they are going further into their studies or if they are about to take their exams.. soo.. without further words or explanations – my first quote:
“All our dreams can come true if we have the courage to pursue them” – Walt Disney
Now have a great day!
AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE
IM GOING TO BE A CPA!!!!!
Author
Replies
Viewing 15 replies - 2,626 through 2,640 (of 6,668 total)
.