[jeff]

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

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

[glosborne]

Is anyone else having problems accessing the NINJA Plus videos for FAR?

I cannot access them and my login information on NINJA CPA doesn't work.

[CPAIN2K17]

Good luck @cmrn89 and @mexicanbear! You guys got this!!!

[mtaylo24]

Good luck to everyone sitting this week!

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)

[Cruzer]

Does anyone know where I could find an inventory reconciliation from book to physical count under the periodic system? Like does any softwares have a DRS on this?

[popitsa]

So, I am taking the test on Wednesday and currently I am in 69% in Ninja mcq. I did all of Roger questions before as well. Honestly, I am a bit lost. I am refusing to concentrate and study more.
Good luck to everyone who is taking FAR within the next few days!

[Anonymous]

@HottyToddy, thanks. I appreciate your help.

[mtaylo24]

Struggling to understand the profit/lost test on this segment reporting sim. So we base the 10% off of the positive values (Potash + Phospathe $39 + $4 = $43k) only but the negatives for Magnesium and Chemical products, which are > 10% the other way still count? Does this sound right?

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)

[LCros]

Good Morning Mtaylo24:

Yes this is correct. What you have to do is take the ones with positive profit put them in a category and then take the ones with negative profit and put them in their own category. You will have 2 categories. Add the category with positive profit together and then add the ones with negative profit together. for the negative profit, take the absolute value of it (making it positive) and then analayze the two categories, whichever one is greater, use that for your 10% rule.

I can't believe I'm up this early. Think my nerves are kicking in (my test is Friday). But, when I saw it was you, I had to help ya :).

[mtaylo24]

@LCros. Thanks! That is why we study sims, never came across this in the MCQs. Btw, I'm also a nervous wreck right now, but hopefully that will help with the final push!

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)

[SallyCPA]

Any advice for reviewing for test on Saturday (using Becker and NINJA MCQ)? I was thinking about rewriting my notes for the 2nd time but would this be a good use of time?

[mtaylo24]

@Sally – Re-writing notes couldn't hurt, but I wouldn't put everything on hold to do it. Maybe in between MCQ or sim sets, you can knock out a chapter?

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)

[SallyCPA]

@mtaylo24 I might try to rewrite my notes considering I have enough time.how do you plan on reviewing?

[mtaylo24]

Definitely subject to change, but this is the approach that I kind of developed yesterday since I had a day off from everything.

1. Read a chapter
2. Work sims for the chapter
3. random 20 mcq quiz (gleim – usually limited to one sub-unit – repeat until I score 75%)
4. random 20 mcq quiz (ninja – usually limited to one section – don't repeat)

I try to read the Gleim core concept summaries for 5 chapters before I do 5 sets of the above, and my goal is 5 sets per day.

I do still need to set time aside for a hard IFRS session. I've already been through all of the Gleim and Ninja questions so I'm kind of reaching the point of diminishing returns for some of the MCQs.

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)

[mtaylo24]

Wow reading is fundamental smh

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)

[Anthony]

@mtaylo24 I remember stepping on that land mine a few times on Gleim also.

A word to the wise, I would personally hit the lease and non-monetary/monetary exchange sims hard before you step foot into the exam room. Especially the saleslease back one on Gleim.

[Author]

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