[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]

I'm currently on PPE AND DEPLETABLE RESOURCES and the simulation question below seems to be having the best of me. I want to know why the answer is $1,875,000. Question is provided below.

ON January 6, year 5, Yankee completed its self construction of a building on its own land. Direct cost of construction were $1,095,000. Construction of the building required 15,000 direct labor hrs. Yankees construction department has an overhead allocation system for outside jobs based on an activity denominator of 100,000 direct labor hrs, budgeted fixed cost of $2.5million, and budgeted variable cost of $27 per direct labor hr.

How much should be presented on the balance sheet as building cost?

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

Mass-CPA

[Anonymous]

@stoleway–I object to any cost accounting questions! 🙂

[CPAfit]

picked off from where i started yesterday and it's bonds time. feeling sleepy though might get a protein coffee during my hourly break. Anybody got tips on staying awake

[Anonymous]

Caffeine, take notes while reading, and work some MCQs to break up the reading a little bit. Happy studies to all today!

[CPAfit]

@mommy just had coffee, I think i need to stock up on some energy drinks for the next couple of weeks. Also I'm taking notes, the ninja way is on 🙂 btw how do u keep the old chaps refreshed while working on new ones so u dont forget the old material?

[Anonymous]

This was my first real week of heavy studying and I covered 4 chapters. Before I started studying yesterday I took a 30 question set of MCQ from the WTB with material from just those 4 chapters. I'm going to take another one today and add in the chapter I covered yesterday and continue to do that until I hit my review stage. This is in addition to taking quizzes on the chapter I'm currently studying. This is the first time I've done it this way so you may want to see if anyone else has any suggestions before you settle on a plan of attack. I noticed you mentioned going to sleep yesterday when it was 3:00 in the afternoon in Florida. Where do you live?

[Anonymous]

Seriously?? The SIM I just had for partnership accounting was an initial recording of capital. They laid everything out in a table and I basically just had to copy the numbers into the JE. There were no calculations/goodwill/bonus. While that made me feel good that I could get a SIM right on the first try, that did nothing for actually testing my knowledge of the material, which is not good at this point in time. I've watched the Blitz, I've read the book, I've read the Ninja notes, and still it is not clicking!!

@Amor D–Thanks for the TA, TxI, and D-S. That helped! Unfortunately my biggest problem is not even understanding the questions and what I need to do to get what they are asking for, no matter how many times I read it.

[CPAfit]

I live in Saudi Arabia. I do my tests as an international candidate in Dubai as there are no prometrics for CPA in Saudi Arabia. Now you can imagine after paying for becker review and NTS I have to pay for CPA International exam fees which is almost double the exam fees for one section. Then paying for air ticket and accommodation yay! Such is the story of an international candidate

[Anonymous]

Wow! Now that is dedication!! I was rooting for you before, but now I'm going to make an extra effort to keep up with any areas you may have questions about so I can help as much as possible. No retake for you!!!

[Anonymous]

@CPAMom – Thanks for the tip. I have exactly a month before my FAR sitting. I think I will start doing what your plan of attack is: do sets of 30 MCQ's of prior topics while covering the current ones. I will try doing those at least every other day while learning new material. Now I am freaking out! 🙁

[Anonymous]

@cracked–Don't freak out. We can do this. It's a lot of material, but it's doable. What have you covered so far? How do you feel about what you've covered?

[Anonymous]

I have covered everything except for Not for Profit and Partnership Accounting. For material I have covered I feel I know the material and understand the concepts. However, I'll need to brush up on them by just doing more and more MCQ's, reviewing the notes and re-writing them. It sure can be done!

[Anonymous]

Sounds to me like you're doing great. You've covered more than I have. If you find any useful tips to get Partnership accounting down, please let me know. I'm still having trouble when I quiz that. I moved on to current assets/liabilities because I couldn't get Partnership to sink in. I've had to change my study plan 5 times in the last week. 🙁 I may be coming to you for bonds and governmental. Tackling the big guys this week I think. The constant little refreshers help a lot. Also, if you have flashcards, just going through the stuff you have already covered with those helps keep it fresh as well.

[stoleway]

Cpamommy..Thank you, hopefully I can get a group member to explain the concept on this PPE question:(

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

Mass-CPA

[Anonymous]

I haven't gotten to fixed assets yet, but when I do I will come back to your question and see if I can answer it. Ugggg–Direct hours…bleh. Bad memories of BEC. 🙂

[Author]

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