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March 9, 2017 at 12:46 pm #1509585
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April 14, 2017 at 8:47 am #1533222
AnonymousInactiveApril 14, 2017 at 10:07 am #1533256
Ne’OParticipantApril 14, 2017 at 2:12 pm #1533421
AnonymousInactive@mtaylo24 rocks. I'm going through the q1 post to find all the J/E he posted.
April 14, 2017 at 7:30 pm #1533562
WannafreeParticipantThank you @Anthony,I did read your post.As you appeared in last format ,did you feel too difficult or about same ? You mentioned hard topics ,so could you solve those ? I know you had 3 hours but can you imagine if some one has 2 hours for SIM ? I also couldn't solve Research question last time , so is it similar difficulty this time because you spent 20 minutes?
April 14, 2017 at 8:41 pm #1533583
AnthonyParticipant@WannaFree I would say maybe a little bit more tougher, but it's really hard to gauge whether or not it's really that much more difficult than my first time at it. One thing I remember is that on my second testlet of MCQ, some questions were little more complex or had more curve balls thrown at me. They weren't hard, but when you are fighting the clock it makes it tough.
For the hard topics. Yes, I could solve them, but whether or not I solved them correctly is a different matter. 2 hours for sims is do-able, but really depends on the person. Some might need more because they are slow at sims, while some could wiz by them.
I would say the research question was roughly the same in difficulty. The biggest problem on why I wasted so much time on the research question was because I was an idiot looking at the wrong spot. I thought it was under so and so and I tried using search within under that section and nothing I was looking for popped up, but in reality it was in a completely different place. So when I did a general search with like 2 key words, boom found it.
April 14, 2017 at 10:14 pm #1533601
WannafreeParticipantApril 15, 2017 at 12:50 am #1533618
krstnamParticipantQuestion on Available for Sale Securities
Year one purchased A4S securities for 270K
Year 2, they were worth 245K
Year 3 – they were sold for $255K
1. The JE to record the loss on security during year two would be
DR: Unrealized Loss 25K
CR: Valuation Acct 25K2. JE for the sale
DR: Cash 255K
DR: Val Acct 25K
DR: Realized loss on A4S Sec 15K
CR: Unrealized Loss on A4S sec 25K
CR: A4S Sec 270KI just want to make sure I'm understanding this correct.
In step 2, is the Debit and Credit for $25K just the reversal from the original entry? And is the $15K realized loss just a plug number?
2nd Question, if it was sold for say 280K would this be the JE?
DR: Cash 280K
DR: Val Acct 25K
CR: Realized gain on A4S Sec 10K
CR: Unrealized Loss on A4S sec 25K
CR: A4S Sec 270KThank you
April 15, 2017 at 6:31 am #1533640
AnthonyParticipant@WannaFree For my retake I did nothing except Gleim mcq and Gleim sims. In my last 3-4 days before the exam I swapped from Gleim mcq to Ninja and pounded it for about 600 questions with only new and unseen questions, while hitting sims hard.
Funny thing is that when I ordered a CPA candidate copy of the codification, I actually found the research question from my first attempt that I couldn't find.
@krstnam You need to remove unrealized OCI loss/gain when you sell the security..so you reverse the unrealized OCI loss/gain you built up. The realize gain/loss is just a plug.April 15, 2017 at 4:17 pm #1533754April 16, 2017 at 1:13 pm #1533900
aatouralParticipantHappy Easter everyone!!
BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBSApril 16, 2017 at 1:42 pm #1533912
AFSDParticipantHI-
I have the exam on 5/22, five weeks to go. I roughly have gone through 50% of the Wiley FAR course. I feel that the retention has been below average even in basic concepts.Would it be a good idea just to focus on doing MCQs and TBS for the next five weeks. Of course reading explanation and researching hard topics.
Thanks.
April 16, 2017 at 3:03 pm #1533934
HoldMyBeerCPAParticipant@AFSD, if you're starting to let the concepts you studied earlier slip, I would go back and skim through your notes (if you've made some) and do maybe 20 MCQs tips for each section. That way you can get a nice refresher while not losing a lot of time by going back to the beginning and re-learning. Also, I would suggest powering through the material if you can within the next two weeks to leave yourself three weeks of final reviews, MCQs and SIMS. How long do you think it will take you to get through the rest of the material?
April 16, 2017 at 3:32 pm #1533939
SallyCPAParticipantI should be done with FAR 10 by the end of this week and then have about a month to review (test is May 27th) using Becker and NINJA MCQ. Does anyone have an recommendations for reviewing? Should I go back through each Becker chapter and rewrite notes (feel like that would take forever)? I feel like the approach to reviewing for FAR is so much different than the other tests…
April 16, 2017 at 9:12 pm #1534042
mtaylo24ParticipantI feel like I'm slumping hard with my studies. Maybe its the weather ¯\_(ツ)_/¯
AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
REG - 55 (2/16) 69 (5/16) Retake(8/16)
BEC - 71(5/16) Retake (9/16)
FAR - (8/16)April 17, 2017 at 8:31 am #1534143
Trucker90ParticipantHello all, hope your study sessions are going well.
I am just starting to learn the material, I am planning to take Far in mid August.
I am trying to figure out a clear, concise summary of FASB due process for standard setting and IASB's equivalent.
I read over the material and tried doing some MC problems, but I can't seem to get a good grip on it. I never know where ‘research' should go, because… doesn't every step of standard setting and updating procedure require ‘research'??
Can anyone help me out with this please? Thank you XD
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