[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]

@ NotaQuitter — IFRS question

I was like say what…..

B. Changes in accounting estimates ??

[Not a Quitter]

Jenni I completel agree with everything Kenada said!!! I also only passed BEC on the first time and that was sheer luck…I think you may surprise yourself. But, of course I don't know your situation. Sounds like you are being realistic with where you are but honestly I don't think you ever really feel 100% ready. At least most people don't.

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

[Anonymous]

Jenni – You have some days.. focus on your weak area's esp if they are Govt NfP and IFRS… So as many Qs in the MCq's and sample SIM's

In the SIM's understand why you got it wrong make some notes or JE's – something that works for you to understand why they did X in the SIM vs Y.

When you go for the exam don't panic. Do the Mcq's one at a time. Read the question…

When you come to the SIM go for the research one first and if you find it in 5 mins — move on… pick the SIM that you feel is the least difficult.. progess to the harder ones.

In you mind you should remember the SIM is like a bunch of MCq's put together… so tackle it piece by piece… Use the AL (research tab) as much as possible if you want to look up a definition or something.. It can come in handy.

Lastly, answer everything in the SIM's and if you run out of time – people have said do not leave it blank – fill in everything and even put zero's if you have to.

That is my way of going it 😀 — PS I hate the SIM's like no ones business..

[Anonymous]

I failed AUD twice and FAR once before I passed BEC, AUD and REG in a row. I was terrible at Sims as well and never practiced them! For my AUD pass I studied 6 days of mcq right after my BEC exam which was at the end of the window. I figured there was no reason not to take it after I failed twice. It ended up being my highest grade so far!

For the Sims you should use the AL as much as possible, they really make a huge difference.

Take it!!

-Hunter

[Anonymous]

Does AICPA change questions or set of questions every quarter?

[Anonymous]

Anna – not sure if this will answer your question or not.

Last year i sat AUD in May and failed.. i retook it in July 15.

Were the question the same – nope/ Similar in nature yes. Where the SIM's the same – no. Some were Similar.

Some folks have said they got the exact same SIM like one of them as they saw in a prior exam. but there is no guarantee you will see it again.

Basically, you have to re-prepare for the exam as if its brand new.

[Anonymous]

Thanks Kenada!

I was just wondering if the experience of those who took the exam in Q2 (40% thing, ifrs etc.) will likely apply to my Q3 exam. I guess there is no way of knowing

[lauren725]

Jenni – I know how you feel. However, I think you should still consider giving it a shot. From experience, my first sitting for audit was terrible for me and I was having anxiety and the experience was just not good because it was my first test. However, I am glad I went because I knew what needed to focus on for my retake and the second time I took it I was much more calm. Just my two cents 🙂 This test is crazy though so I don't blame you.

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!

[Anonymous]

Ok I am now worried. I thought IFRS Deferred Tax is a liability not an asset. – One of the differences with GAAP.

So when i look at this question… I don't know how to answer it 🙁

Under IFRS, a deferred tax asset is

A. Recognized to reflect the deferred tax consequences of a taxable temporary difference.

B. Measured by applying the tax rates effective when the asset is realized.

C. Recognized to the extent that realization is probable.

D. Required to be reduced by a valuation allowance if it is more likely than not that some portion will not be realized.

Oh man I missed the one sentence in my notes…. and so the answer is now obvious… Man… this sucks ..

[Anonymous]

It should not be D, doubtful about C and A.

Would the correct answer be B?

[stoleway]

C

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

Mass-CPA

[Anonymous]

C Recognized to the extent that realization is probable. is correct!

Under IFRS, a deferred tax asset is recognized for most deductible temporary differences and for the carryforward of unused tax losses and credits, but only to the extent it is probable that taxable profit will be available to permit the use of those amounts. Probable means more likely than not. Thus, no valuation allowance is separately recognized under IFRS.

[Anonymous]

anyone here have becker?

[Anonymous]

I do

[Anonymous]

have you gone over the ifrs vs gaap review by any chance? do u feel that the review and the questions are sufficient enough to prepare us for the bulk of the ifrs questions that might pop up on the exam?

[Author]

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