[Q2] FAR Study Group 2014 - Page 368

  • Creator
    Topic
  • #183478
    jeff
    Keymaster

    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

Viewing 15 replies - 5,506 through 5,520 (of 6,668 total)
  • Author
    Replies
  • #566072
    Anonymous
    Inactive

    Oh man Stoleway 🙁 Grrrr….

    #566073
    WANNABE_CPA
    Member

    @brainfarts..we are taking it on the same day, whatz your review strategy now…

    I am getting over things i havnt gotten chance to review now, need to review all simulations, planned to do 30 mcqs per section in sets of 10 questions targetting 300 of those alone everyday, Reviewing JEs and IFRS of them along the way, 1 practice test on 26th and merely revising concepts and theory on 27th and print outs of questions i am getting wrong from today on.

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

    #566074
    lauren725
    Member

    Wow way to go Joe!

    I am feeling pretty overwhelmed and feel like I have a long way to go, but very determined to learn as much as I can the next 5 days. Anyone else? I hope everyone has a productive weekend!

    AUD - 73,91
    FAR - 79 - Thank you God!
    BEC - 73,79!!!!
    REG - 92 whatttt??!

    I used Becker review + flashcards, Ninja Audio, Ninja MCQ supplement on BEC and REG.

    Done! Praise God!

    #566075
    Anonymous
    Inactive

    ^^ with you Lauren !

    I feel I am not at Par with anyone in the group -there is so much for me to do and very little time

    #566076
    stoleway
    Participant

    @KENADA

    don't worry, I will try and come up with confidence boosting questions. lol

    Im getting these questions wrong, so im also worried

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

    Mass-CPA

    #566077
    Anonymous
    Inactive

    Hehehe :0)

    Actually the bad question are good they won't have me feeling over confident then you know !

    #566078
    stoleway
    Participant

    In the consolidated financial statements of a parent and its 90%-owned subsidiary.

    A. Consolidated net income or loss is the amount attributable to the parent.

    B. Comprehensive income or loss is attributed to the parent and the noncontrolling interest.

    C. Consolidated equity is the amount attributable to the parent.

    D. Revenues are reported at the separate amounts attributable to the parent and the noncontrolling interest.

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

    Mass-CPA

    #566079
    Anonymous
    Inactive

    C. Consolidated equity is the amount attributable to the parent.

    I say this as you take 100% of assets and liabilities and in the equity side is where you take out the NC portion.

    #566080
    Anonymous
    Inactive

    I hate consolidations…but I'm going with answer C?

    #566081
    Anonymous
    Inactive

    Hello Amanda- I thought you would be at prometrics now ? Or you still have time before your exam?

    PS I hate Pensions Its driving me nuts right now.

    #566082
    stoleway
    Participant

    Answer (B) is correct.

    In whichever presentation of consolidated comprehensive income or loss is chosen, the noncontrolling interest’s adjusted share of the subsidiary’s comprehensive income or loss is subtracted from the consolidated amount to determine the amount attributable to the parent. Thus, three amounts are displayed on the face of the consolidated statements: (1) a total, (2) the noncontrolling interest’s share, and (3) the parent’s share

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

    Mass-CPA

    #566083
    Anonymous
    Inactive

    ???? that almost sounds like IFRS … isn't it in IFRS that NC interest is taken off in the Income Statement side.

    I don't get it 🙁

    #566084
    stoleway
    Participant

    I don't get it either, so I usually memorize these type of questions to make sure I don't forget the next time I meet it.

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

    Mass-CPA

    #566085
    stoleway
    Participant

    West, Inc., acquired 60% of East Co.’s outstanding common stock. West paid $800,000 to acquire the stock. West plans to relocate East’s company headquarters, which is expected to cost between $100,000 and $300,000. The present value of the probability-adjusted relocation cost is $240,000. What is West’s acquisition cost?

    A. $1,040,000

    B. $1,100,000

    C. $900,000

    D. $800,000

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

    Mass-CPA

    #566086
    Anonymous
    Inactive

    D. $800,000

    I am not sure if costs to relocate affect the investment account

    i would have thought they would be expensed.

    but you know – who knows anymore …

Viewing 15 replies - 5,506 through 5,520 (of 6,668 total)
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