Thanks teetee, I'm studying now before getting ready. I will force myself to study tonight before bed for at least another hour. How are you doing with your studying?
*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 🙂
@teeteenounouche It's just for a couple days right over the border so no Cabo or Cancun all you can drink specials. Have 30 of us going down for 2 friends' birthdays. The past couple years we would go up to Temecula, CA and rent a big mansion for the weekend for their birthdays, pretty fun! Paid for this back in Jan thinking I'd be done studying and I could celebrate freedom.
Can anyone paste their notes for Commercial Substance? I have a few conflicting notes and need to get it resolved.
@Amay Like teetee said, don't beat yourself up! I suggest doing an hour of MCQ and then taking the rest of the day off to do your plans. Start tomorrow and go full force this week. You still have 5 weeks left so plenty of time!
I'm doing ok…trying to get the material to stick in my brain 🙂 practice makes perfect as they say…
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
Everyone who is struggling today, keep your head up. Get some fresh air. It's a beautiful warm day here in CO and it's so much more pleasant reading the Becker outlines in the sun on the porch. Even if it's cold by you, get out for 15-20, regroup, and start fresh. Today is not a waste for anyone! Think positive 🙂
@Cracked – all of it, it seems like. Temporary differences, valuation allowance. The JE and calculations just don't make sense to me. But I am going to review deeper tonight and hope some of it makes sense.
This is the first topic I have really stumbled on since studying.
FAR - 46, 79 (7/8/14)
AUD - 56, 59, 2/23/15 3rd times a charm!
BEC - 69, 74 Really??
REG - April, I hope. Fingers crossed!
DTA – This results when you have more taxable income (compared to financial income) in a given year which means you pay more taxes. Because you paid more taxes, gov't says we'll give you a break next year. Results in DTA – pay more now, results in asset later
DTL – You have less taxable income (compared to financial income) in a given year meaning you pay less taxes. Gov't says that's fine we will get back to you next year, so you record a DTL – pay less now, results in liability later.
Thanks a bunch for that explanation. I understood more in those few sentences than what I have been reading. I will apply that to my studies and see if I get better results on my MCQs.
Again Thank you, Cracked!
FAR - 46, 79 (7/8/14)
AUD - 56, 59, 2/23/15 3rd times a charm!
BEC - 69, 74 Really??
REG - April, I hope. Fingers crossed!
Haven't done it yet sam. Gleim is wayyyy different than other study material. I've only done: Cash, Investments, Accounts Receivable, and Notes Receivable (barf). Next up this week is Inventory and PPE.
My notes say nonmonetary exchanges with commercial substance: recognize g/l of the FV minus the BV of the old asset.
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
I just started pensions. Oh my. I remember dreading this in college. If ya'll have any tips please share. Putting them away and focusing on something with less calculations for the next hour. I won't let pensions ruin my productive study weekend.
Well I just realized that none of my assessments in the WTB are accurate because there are times that I hit “Try again” and if I get the right answer the second time it will disregard my incorrect first response and count it correct in the assessment. I did not know this.
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