[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

[teeteenounouche]

I crack up every time I see your name lmao!!

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

[HopefulCPA0601]

So for the first question it makes sense, you take gross value subtract out yoru allowances to get to your net realizable value.

For the second question – i think since it is a “provision” for bad debt – which is basically an estimate you are making of your bad debt then that is why you do not subtract it out. I will look into this though and see if I can find a more explanatory answer for us.

But for patient service you still reduce your revenue by deductions/expenses:

Patient service revenue: accrual basis at established standard rates (usual and customary fees), even if full amount not expected to be collected. Deductions are made from revenue for reporting purpose. Central transactions include medical services such as doctors, surgery, recovery room, and room and board

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[Anonymous]

I dont know why this is so confusing. It seems like it should be an easy concept…

[Anonymous]

How do you treat a capital lease whose lease terms have been renegotiated to an operating lease?

[Anonymous]

Would it not be as thought you disposed of the Capital lease..

You reverse out what is capitalized and amortized to the P&L ? I am not sure if you get an compensation or benefits for doing that.

[Anonymous]

it would be treated as a sales leaseback

[Anonymous]

Why would I be a hybrid Instrument – Like how is that an embedded derivative ?

I know how an option is but not a Bond with an Interest rate.

Which of the following qualifies as a hybrid instrument that would require bifurcation under ASC Topic 815, Derivatives and Hedging?

I. A bond payable with an interest rate based on the S & P 500 Index.

II. An equity instrument with a call option, allowing the issuing company to buy back the stock.

Both I and II.

I only.

Neither I nor II.

II only.

[Anonymous]

lol I have already forgotten lease – its on my list to do tomorrow 😀

[NJPRU]

Amanda – hope your studying is going well. 🙂

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

IM GOING TO BE A CPA!!!!!

[stoleway]

Score release day is insane, lots of people are passing FAR….God help us!

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

Mass-CPA

[Anonymous]

I know – Its making me nervous. too ! 🙁

Does that mean our release will have less passing scores ?

[stoleway]

The qtr is not over yet, so we are all in this together. AICPA review their strategy at the end of every qtr to decide whether to tighten the questions or not. Lets hope for the best!

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

Mass-CPA

[HopefulCPA0601]

@stoleaway – are you in Q3 with me?

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[NJPRU]

stoleway – WE got this! We all put in so many hours to not pass this exam! Keeping the faith!!

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

IM GOING TO BE A CPA!!!!!

[stoleway]

@HopefulCPA0601

I'm in q2

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

Mass-CPA

[Author]

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