[jeff]

Welcome to the Q2 2017 CPA Exam Study Group for FAR. 🙂

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anthony]

@stina71223 DRS and enhanced sims tests on higher order skills.

[mtaylo24]

@mckan, haha thanks! Did u get licensed yet? I know that you're living the good life without having to worry about this crazy exam! 😜

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)

[mckan514w]

@mtaylo24 ha ha ha ha good life indeed! Come August I know you will be living it along side me!!

I have quasi gotten licensed– DC has what is called “CPA-Non practicing”- for all of us out there that don't have the 1 year under a CPA experience requirement. Right now I'm just weighing all of my options– looking at either trying to transfer everything over to VA where you don't need a CPA to sign off on (should have done better research and registered there to begin since I have the work experience just not under a CPA- ahhh hindsight and all of that)- or bucking up and actually getting a “real job” for a year or two for experience and signage OR just living under the CPN banner in perpetuity.

GOOD LUCK on the 30th! Did you get an extension on AUD???

and they ask me why I drink...

FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2

[mtaylo24]

@mckan514w They keep bsin me. First they asked me to request again whenever I'm within 30 days of the expiration, now they are telling me to request again after I sit. Completely ridiculous, always a hoop to jump through 🙁

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)

[Wannafree]

How u all are keeping yourself awake when reading FASB ,Conceptual framework chapter.
Is it important ?

[popitsa]

Hi everyone,
I have a question:
Green Co. had the following equity transactions:

Cash proceeds from sale of investment in Blue Co. (carrying value $60,000). $75,000
Dividends received on Grey stock $10,500
Common stock purchased $38,000

What amount should Green recognize as net cash from investing activities?

I answered $75,000 Andrew it was wrong. The right answer is $37,000. Isn't common stock a financing activity?

[Anthony]

Read it again. It says common stock purchased. This means that they are investing in a company. If it states they are issuing common stock then it will be financing.

[popitsa]

Ok, I thought that the word “purchased” is why the have it as an investing activity. Thank you!!

[Pawn Maker]

Thanks Mckan, that makes sense.

[Holly]

How ya feeling mtaylo24

BEC - 79
REG - 85
AUD - 5/27/16

[mtaylo24]

@HRSexton I feel ok about the MCQs but I'm a little concerned about the sims. The practice sims are beating me down big time! How is BEC?

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)

[gicenter27]

Ughhh… after about 8 weeks I'm about to finish the FAR material today (using Wiley). Got a little over a week to pound MCQ and practice exams. Test date is 05/25, then it's a 3 month waiting game to see if I finished this monster off!

[Wannafree]

How important is disclosure in new format? How you guys are dealing with so many disclosure rules ?

[mckan514w]

ugh @mtaylo24 that really sucks— always something isn't??? Hang in there- know you will KILL FAR this time- and fingers are crossed that they let you keep AUD- damn they should-

and they ask me why I drink...

FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2

[Grasshopper]

If you have lecture videos for those chapters that you haven't covered yet, just cram them in this weekend and then after that just do as many MCQ's as possible. It is better than not giving up. That's what I am going to do anyway. I have to at least try really hard to pass FAR at the end of the month. I'll be studying all summer long while I wait for the long score release and hope for the best.

[Author]

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