[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]

For the tax question, is the answer C?

[stoleway]

Amanda, why is it C?

Why is the DTA not deducted to reduce the tax expense?

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

Mass-CPA

[Anonymous]

I actually dont know how to explain this one. I remember it was posted on here a few days ago and I remember how to calculate it. I'm looking through my book and I cant figure it out. My guess is that it's added because we use all the carryforward

[stoleway]

Well its not a liability which increases tax expense, its an asset which was supposed to reduce expense in the subsequent year. Well lets see if there are other perspectives on this one.

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

Mass-CPA

[Kimboroni]

Good luck all you guys who still have to test this month! I was generally a lurker here, so I wanted to thank you for being so great. I wanted to participate, but usually got overwhelmed by the formatting and/or confusing nature of the questions. I did look in from time to time.

You guys are awesome and I hope your exams go well!!!

AUD 84 (1/9/14-Wiley books/TB + free materials)
FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. 🙂

[Anonymous]

@kimborini did you take FAR today?! I noticed on your signature it says you're taking it on 5/21…if so, how did it go???

[NJPRU]

*ducks* I don't like reading experience stories lol.

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

IM GOING TO BE A CPA!!!!!

[Anonymous]

Cost Recovery method for revenue is an acceptable method in both IFRS and GAAP right ?

[Anonymous]

Yep- the one that's prohibited under IFRS is completed contract

[stoleway]

list the two basis for measuring tangible and intangible assets under IFRS

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

Mass-CPA

[Anonymous]

Cost and revaluation method

[jrosen92770]

Nevermind, what Amanda said. RTMFQ

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

[WANNABE_CPA]

On March 2, 2012, Finch City issued ten-year general

obligation bonds at face amount, with interest payable March 1

and September 1. The proceeds were to be used to fi nance the

construction of a civic center over the period April 1, 2012, to

March 31, 2013. During the fi scal year ended June 30, 2012,

no resources had been provided to the debt service fund for the

payment of principal and interest.

On June 30, 2012, Finch’s debt service fund should include

interest payable on the general obligation bonds for

a. 0 months.

b. Three months.

c. Four months.

d. Six months.

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[NJPRU]

value in use = discounted future cash flows BWOOP!

whereas GAAP compares undiscounted future cash flows to CV

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

IM GOING TO BE A CPA!!!!!

[Anonymous]

When you're measuring foreign FS into the functional currency, which rate would you use to remeasure

A) Inventories carried at cost

B) Marketable equity securities reported at market value

[Author]

Replies