[tmturner74]

Is it ok to start a FAR Study Group? I retook Audit yesterday and although I don’t have a gut feeling either way if I passed or not, I am going to start on FAR. I am using Becker self-study and purchased the Ninja Notes for FAR.

I am looking forward to reading a/b everyone’s progression. Good Luck!

 

Aud- 11/28/12 (72), 02/27/13 (72), 04/06/2013 77!!
FAR-tbd
BEC-tbd
REG-tbd

[Anonymous]

Haha..I know right?…you probably can appeal but I doubt it would get you anywhere.

[mxh2o]

Aight time to put “The Walking Dead” down and get cracking.

So far I have ordered the Wiley book and have access to the test bank…..

Did a brief few practice tests and have scored in the low 50's……Testing in May.

Having the first baby in October so the goal is to extinguish FAR & AUD/BEC…not sure which of those two….But at least the first 1/2 of the CPA as a whole. If done right perhaps I could do it all by then???

Working full time and graduating undergrad May 4th! FULL PLATE!

FAR - MAY 2013 62 - Attempt Two: February 18, 2014
AUD - JULY 2014
BEC - AUGUST 2014
REG - OCTOBER 2014

[mxh2o]

Aight time to put “The Walking Dead” down and get cracking.

So far I have ordered the Wiley book and have access to the test bank…..

Did a brief few practice tests and have scored in the low 50's……Testing in May.

Having the first baby in October so the goal is to extinguish FAR & AUD/BEC…not sure which of those two….But at least the first 1/2 of the CPA as a whole. If done right perhaps I could do it all by then???

Working full time and graduating undergrad May 4th! FULL PLATE!

FAR - MAY 2013 62 - Attempt Two: February 18, 2014
AUD - JULY 2014
BEC - AUGUST 2014
REG - OCTOBER 2014

[Anonymous]

@mxh20

It's definitely possible! It all depends on how much time you put into it. I have allotted 3 mths for FAR and m studying around 25-30 hrs a week. My advice would be to make a schedule and stick to it. Good luck!

[Anonymous]

@mxh20

It's definitely possible! It all depends on how much time you put into it. I have allotted 3 mths for FAR and m studying around 25-30 hrs a week. My advice would be to make a schedule and stick to it. Good luck!

[Anonymous]

Ugh…need to finish up Leases with Gary B….I think I'd rather have a root canal…the guy is horrible…

[Anonymous]

Ugh…need to finish up Leases with Gary B….I think I'd rather have a root canal…the guy is horrible…

[Tina82]

Maybe I've been doing mcqs too long tonight but can someone explain the s/l amortization in this to me? Whey are they using 75 months for the amortization if the bond is an 8 year bond?

On October 1, Year 1, Park Co. purchased 200 of the $1,000 face value, 10% bonds of Ott, Inc., for $220,000, including accrued interest of $5,000. The bonds, which mature on January 1, Year 8, pay interest semiannually on January 1 and July 1. Park used the straight-line method of amortization under U.S. GAAP and appropriately recorded the bonds as a long-term investment. On Park's December 31, Year 2 balance sheet, the bonds should be reported at:

Purchase price, including interest$220,000

Less accrued interest(5,000) = 215,000

S/L amortization of bond premium $15,000 x 15/75=3,000

Carrying value at 12-31-Year 2$212,000

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[Tina82]

Maybe I've been doing mcqs too long tonight but can someone explain the s/l amortization in this to me? Whey are they using 75 months for the amortization if the bond is an 8 year bond?

On October 1, Year 1, Park Co. purchased 200 of the $1,000 face value, 10% bonds of Ott, Inc., for $220,000, including accrued interest of $5,000. The bonds, which mature on January 1, Year 8, pay interest semiannually on January 1 and July 1. Park used the straight-line method of amortization under U.S. GAAP and appropriately recorded the bonds as a long-term investment. On Park's December 31, Year 2 balance sheet, the bonds should be reported at:

Purchase price, including interest$220,000

Less accrued interest(5,000) = 215,000

S/L amortization of bond premium $15,000 x 15/75=3,000

Carrying value at 12-31-Year 2$212,000

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[Anonymous]

October 1st yr 1-Jan 1 yr 8 is 75 mths..they are not 8 yr bonds.

Oct 1st-Dec 31st is 3 mths. Jan yr 2 – Jan yr 8 is 6 yrs-6×12=72

72+3=75 😉

[Anonymous]

October 1st yr 1-Jan 1 yr 8 is 75 mths..they are not 8 yr bonds.

Oct 1st-Dec 31st is 3 mths. Jan yr 2 – Jan yr 8 is 6 yrs-6×12=72

72+3=75 😉

[Tina82]

Nevermind got it. Guess asking the question helped. The 15 months the investor held the bond plus 6 more years left.

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[Tina82]

Nevermind got it. Guess asking the question helped. The 15 months the investor held the bond plus 6 more years left.

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[Tina82]

Thanks Casagarber, I think I'm having a slow day. How does this affect amortization on bonds issued between interest rate payments using the effective interest method? I'm using Becker and I don't see an example of that in there. Thanks in advance!

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[Tina82]

Thanks Casagarber, I think I'm having a slow day. How does this affect amortization on bonds issued between interest rate payments using the effective interest method? I'm using Becker and I don't see an example of that in there. Thanks in advance!

R - 74;88
A - 84
B - 74;89
F - no study = 67; May 15 = 87 & done

[Author]

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