[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]

** had scheduled my test for May.

[samdiegoCPA]

I have that Wiley study guide that I found somewhere. I'll open it up this time around. So now I have Roger book, Wiley book, Wiley study guide, Wiley focus notes, Becker flash cards, Becker final review, Ninja flashcards. WHAT MORE DO I NEED TO PASS! Gees.

AUD: 84
REG: 84
BEC: 79
FAR: 83

[Anonymous]

I don't feel like scrolling to see who I'm responding to so here goes.

1. I have not seen the Wiley study guide, but it sounds like a more extensive Ninja Notes and less extensive cram course to me.

2. I completely agree with the Facebook deactivation. I think I may do the same. However I noticed I spend a lot of time on here so I think I'm going to limit my interaction on Another71 with just this study group until after the test. I want to help answer people's questions, but this forum can suck you in like Facebook.

3. Whoever said they lost their motivation and should you schedule–Yes I think you should. Having a date makes you focus more than just studying to study.

4. I had a meltdown Friday night and went to bed crying because of my two 50% scores back to back. I didn't sleep well, but tackled governments on Saturday and I feel good about that so I was more motivated after that.

5. We can do this. It's hard and emotionally trying. Let's bond together and get us all passes in Q2. I will be thrilled to see so many of you post that YOU ARE DONE! 🙂

[KRina]

help please.. can someone please post the link where the wiley testbank chapters for FAR were matched to becker? I know someone had posted before but I can't remember where to find that…Thanks

[hopeimnottoolatetobeacpa]

@CPAMommyof3: Thanks for the motivation!!!!! I agree lets murder FAR on Q2!!!!!!!!!!! You're going down FAR!!!!!

[jrosen92770]

Working on F3 and at first I thought it would be hard, but so far so good. I will need, however, to re-read/review F2, which was a bear.

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

[jrosen92770]

I wanted to share the quote below. I hope you find it motivating.

Study while others are sleeping, work while others are loafing, prepare while others are playing, and dream while others are wishing.

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

[KRina]

On January 1, Year 1, Schreiber Company purchased a $300,000 machine with a five-year useful life and no

salvage value. The machine was depreciated by an accelerated method for book and tax purposes. The

machine's carrying amount was $120,000 on December 31, Year 2. On January 1, Year 3, Schreiber changed to

the straight-line method for financial statement purposes. Schreiber's income tax rate is 40%.

Assuming that Schreiber can justify the change, in its Year 3 statement of retained earnings, what amount

should Schreiber report as the cumulative effect of this change?

1. $60,000

2. $36,000

3. $0

4. $24,000

Can someone help me out. I believe the answer is number (3)

[oilgaslb]

@KRina – wouldn't it be $0 because it's a change in estimate it is a prospective change, therefore there is no retroactive adjustment to retained earnings?

[SpartanCPA]

@KRina and @oilgaslb I agree because the change is a change in estimate and is done prospectively.

AUD - 01/18/14 - 81
BEC - 05/29/14 - 85
FAR - 07/18/14 - 81
REG - 11/18/14 - 80

Becker CPA Review
NINJA Audio
Michigan State University

[NJPRU]

Just got in today from my 3 day trip to Orlando, FL. Time to really buckle down now! ahh. I hope you all are on schedule and doing well!

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

IM GOING TO BE A CPA!!!!!

[KRina]

@oilgaslb and SpartanCPA that is what Ithought. Just wanted to make sure I got it right. Thanks guys

[jrosen92770]

For those of you who use Becker, who do you learn more from? I seem to do better with Tim Gearty.

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

[Not a Quitter]

Okay I need y'alls help understanding the answer on this one:

On July 1, 2005, Lee Co. sold goods in exchange for a $200,000, 8-month, noninterest-bearing note receivable. At the time of the sale, the note's market rate of interest was 12%.

What amount did Lee receive when it discounted the note at 10% on September 1, 2005?

Answer: $190,000

Six months remain in the note term at the date of discounting.

Maturity value of note: $200,000

Less discount: $200,000(.10)(6/12) (10,000)

Equals proceeds on note $190,000

My question is why was the discount multiplied by (6/12) instead of (6/8) since the note was only for 8 months?

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

[Amay]

Olinto. Gearty puts me to sleep!

BEC: 73, 81
AUD: 85
FAR: 71, 77
REG: 74, 75...finally DONE! 😀

*This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

[Author]

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