[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

[Anonymous]

I hope everyone's studying went well last night. Have a GREAT day today!!!

[Anonymous]

Good morning M'Bear!

My studying went well last night. I'm so cramming and yet so on fire!

I need to get out of the 70-80% danger zone!!!!!!

I don't think I can make it on 4/18. I might probably reschedule.

[NJPRU]

Goooooooooooooooooood Morning! Here's your quote for today – I particularly can relate to this one after studying for Lessor Capital Leases:

“I believe that if life gives you lemons, you should make lemonade… And try to find somebody whose life has given them vodka, and have a party.” – Ron White

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

IM GOING TO BE A CPA!!!!!

[ChristieF]

Good Morning Everyone! Hope everyone's studying is going well!

@NJPRU, LOVE that quote… sounds about perfect here lately for FAR.

[Anonymous]

@Amor–I think you can make it on 04/18! The 70s and 80s are good scores. I'm not scoring in the 80s on all topics and I feel somewhat prepared. I don't think anyone every feels 100% prepared for these exams. There is always going to be something you won't get. You can do it!!!

@NJPRU–Love Ron White! My party starts at 6:00 on Saturday. Bacardi Pineapple awaits. 🙂

[Not a Quitter]

Need some help figuring out whether or not organizational start-up costs can be capitalized or are they to be expenses as incurred. I just got a question that declared they should be expensed as incurred because they have no definite useful life. However, I am sure I've come across more than one question asking “which of the following start-up cost can be capitalized”. Of course this insinuates that they can be capitalized. So which is it??? I'm am so confused on this.

FAR- 85 I'm DONE!
BEC- 75
REG- 60,60,75
AUD- 74,74,83

CPAExcel used for BEC, AUD, REG
Exam Matrix used for FAR plus NINJA Blitz, cpareviewforfree and a little CPAExcel

[NJPRU]

“Non-governmental companies must expense ALL start up costs as incurrsed. HOWEVER, for tax purposes they are capitalized and amortized over a period not less than 15 years.” – Irvin N. Gleim

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

IM GOING TO BE A CPA!!!!!

[Anonymous]

Typically start up costs are expensed as incurred to give the company a tax benefit from not having revenue yet. The only time I think an organization cost would be capitalized is when they purchase equipment/building that will be used for an extended period of time after the operations are up and running.

[Anonymous]

if you could find the question that says, “Which of these can be capitalized?” and post it here, we can look at it more.

[Not a Quitter]

Okay thanks guys I think I found the explanation for my confusion:

“Start-up costs are the costs to begin the operation of a business—usually the costs of capital assets, initial development of a market, and costs of production prior to the time that sales are achieved.

The accounting treatment for these costs is capitalization (as “start-up costs,” which are different from “organization costs”), provided there is a future benefit and recoverability of both the costs and amortization over a period of not less than 60 months.”

I'm still a little confused as “initial development of a market” does not have an estimated useful life…

FAR- 85 I'm DONE!
BEC- 75
REG- 60,60,75
AUD- 74,74,83

CPAExcel used for BEC, AUD, REG
Exam Matrix used for FAR plus NINJA Blitz, cpareviewforfree and a little CPAExcel

[jasbeerch]

Thank you everyone in this FAR forum….

we have some wonderful people in this forum….encouraging, giving motivation, inspiring others….

@Howmany.. i will definitely post my exam experience and i hope i am not going to scare you… thanks once again for that post and for everything…..

@cpamom , @NJPRU, @Spartan, @stoleway, @amor,@teetee , @NYCacc, @ JRO everybody posted great questions and explained very well.

God bless me for tommorrow's exam

and Good luck to everyone who are writng their exams …very soon.

[How many letters do you need]

Good luck Jas! Kick some serious FAR ass!!

MBA,CMA,CPA, CFF?, ABV?

[NJPRU]

@jasbeerch – best wishes!!! GOOD LUCK! (break a leg, etc etc)!!

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

IM GOING TO BE A CPA!!!!!

[teeteenounouche]

Good luck jasbeerch!! You will do great, just breath and RTMFQs!!

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[Anonymous]

Good luck Jasbeerch!! Kick FAR's A$$!!!!

[Author]

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