[jeff]

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

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

[Pawn Maker]

I just took a Wiley practice exam…man there is a huge consolidation worksheet sim that freaked me out. I got totally killed by it and ended up with 77. How are you guys doing?

[Anonymous]

Thanks @jia2705. I'm about right where you are on the multiple-choice questions but only know about half of the Sims.

My exam is tomorrow afternoon and I feel good about the multiple-choice but I am freaking out about Sims. I feel like they will get the best of me tomorrow.

Does anybody think I should start going over all the Sims again or just keep finishing MCQ's?

Thanks

[jonm857]

Not sure about this question… why is the issue price greater than $800 per bond when there is supposed to be a discount? The stated rate (6%) is less than the market rate 9%.

B - 81
A - 87
R - 73
F - July 5th

[hamada]

that S NICE TO Hear FROM Every ONE Story

[jonm857]

Nevermind… I get it now. The bonds face amount is $1,000,000. Not $800,000. So there is a discount on the bonds, I just thought the $800,000 was the actual face amount.

B - 81
A - 87
R - 73
F - July 5th

[Jj]

@jon the par value is 1000. There were 800 bonds purchased. With the discount it's 807 per bond instead of 1000

[Jj]

A little late on that one

[rachoconnor22]

Hey y'all! My exam is tomorrow and I just noticed that ARO is still on the 2017 blueprints but Becker says it's out for 2017 & I used Wiley and they didn't have a lesson on ARO at all for 2017… anyone know if it's supposed to be on the 2017 material? I'm kind of freaking out because I feel like the blueprints would be the most reliable source but I haven't looked at this AT ALL!

Thank you!!!

[Anthony]

@rachoconnor22 Trust me, ARO is still on the exams.

[Jj]

Wouldn't it be nice if the aicpa , and the review courses where on the same page

[rachoconnor22]

Thanks so much @Anthony! Guess I will be cramming that info now, good thing I have an old Becker book from a friend but definitely makes me worry about other topics the review courses have deemed no longer relevant 🙁

[CPAIN2K17]

@pawn maker was the consolidation sim you got on the entries to eliminate the sale of PP&E to a sub?

[CPAIN2K17]

@mtaylo GOOD LUCK tomorrow!!!!!! We are all rooting for you! Time for all your hard work to pay off, go in with confidence and own this thing once and for all! And good luck to everyone sitting tomorrow and Wednesday, you've worked hard now go show what you know!!

[Pawn Maker]

Yeah, it was the one where Patriot purchased Starling and there were sales and PP&E which had to be eliminated. I saw the 28 lines of adjustments and freaked out lol Have you run into that one? I am figuring that the new exam is going to have sims more in line with that one and am going to spend tonight reviewing it.

[mtaylo24]

@cpain2k17 Thank you! I definitely feel like I need another week, but is anyone ever ready for FAR? I'll do my best 👍👌

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)

[Author]

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