Today I hate fixed assets. I can do every depreciation method all day long, but some of these ridiculous rules for gains/losses/impairments…blah blah blah. I agree NJPRU–who took the time to think about this crap and then who actually said, Oooohhhhh this is a good idea. Let's make every company know all these things because they don't have enough to do like oh I don't know–helping run a company! I agree SAMDIEGO–the more rules there are, the more audits are failed because nobody in their right mind knows all of this, the more money is paid out. Jerks.
I've done 60 lease MCQ and 6 lease SIMS and 85 government MCQ and 85 Fixed asset MCQ today and filled up 12 pages in my notebook just writing out calculations and JEs so I can answer the questions correctly. Based on the lease questions alone I really think 2 little white boards during the exam aren't going to be enough, even if it's only 90 total MCQ questions. Will they give out more white boards if I ask for them or do I have to wear long sleeves and use my sleeves as an eraser?
Finished up Cash and Investments (made note cards and reviewed 60 MCQs), started working on Accounts Receivable (took some notes and have done 50 questions there – I have about 36 left and another 5 pages to read and outline, then going to review by making note cards and practicing more questions). 3-4 more hours and another cup of coffee to go. Actually ahead of schedule since I was only supposed to do 2 chapters this week, I may actually start inventory sometime tomorrow! agh.
I believe you have to trade in a board to get a new one – so make sure you trade in one that doesn't have any important notes/calculations that you wrote on.
Great job NJPRU!! I just took a break and checked FB for the first time since yesterday afternoon and saw many of my friends having get togethers for St. Patrick's Day weekend. I told them all months ago not to tempt me with invitations to things or else I would blow off studying and hang out. Still–seeing all I'm missing out on and how much fun my kids could be having with our friends' kids is a little heartbreaking. I deactivated my FB account and will pick it back up April 13th. BEC and AUD were nothing like this. FAR has been a life changer for me. Getting back to it so I don't have to miss anything later this year. Can't wait for all the summer and fall festivities. Gotta pass this beast!!!
On question 108 of 151 Fixed asset questions “seen less than 2 times”. I feel like I will never be done with this section. I even had to break in the middle and do leases because I couldn't take anymore of these questions. Finishing up this section and doing all bond MCQ that I've seen less than 2 times before I call it quits for the day.
So it's taken me WAY longer than I thought to get through everything I wanted to this weekend, even with an empty house. I'm prob only 1/4 of where I wanted to be. Time to step it into high gear…and read/write notecards for the remaining sections tonight. I'll worry about MCQ after…I don't have time to waste being stuck on one section. I'll go over the MCQ for each of the sections tonight/tomorrow. I probably won't finish them because I'll need to pick up fiancé from the airport smack in the middle of the day (ugh) and then will want to spend quality time with little man when he comes home at round 6 until bedtime.
Getting frustrated again, but at least I'm still determined…
Re-typed all my Chapter 1 and almost Chapter 2 notes today! I will finish Chapter 2, then go over the Becker flashcards that correlate with them and fill in any blanks or perhaps something makes more sense written another way. I really haven't found anything that I “didn't” feel I know from my exam a few weeks ago. I'm making an entire Word doc with just JE this time, but I feel I understand the concept of Debit and Credits. However, everything I think is apparently wrong, soooo I need to just keep going….
FINALLY done with the fixed asset questions. Scored 71%, but I think I can raise that up to 80% just going over a few areas that I know are a problem child for me. Scored 71% on leases as well, but it was my first attempt so I'm confident I can get that up too. Scored 79% on government for a second go through. 🙁 and 76% on statement of cash flows as a second go through. 🙁 not impressed with my retention on those two, but my plan is to go through every question in the WTB at least 4 times. On to bonds…
@oilgas–I haven't touched bonds or pensions yet even though I keep telling myself I will. They scare me. You've probably covered everything at least once and your grades will shoot up during review!
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