[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

[MrsBing]

With 7 weeks for review, what would be the best way to review and keep everything fresh in my mind?

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[MrsBing]

With 7 weeks for review, what would be the best way to review and keep everything fresh in my mind?

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[jeff]

CPA Exam Section: Financial Accounting & Reporting

CPA Review Topic: Present Value Leases

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

[jeff]

CPA Exam Section: Financial Accounting & Reporting

CPA Review Topic: Present Value Leases

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

[Anonymous]

Thx lbi18! I am using Yaeger. Good luck in your studies everyone!

[Anonymous]

Thx lbi18! I am using Yaeger. Good luck in your studies everyone!

[Anonymous]

@nashville79: I've found that the Wiley Online Test Bank as a supplement to Becker was really helpful, especially with focusing on specific topics; it also provides an analysis of your weaknesses/strengths.

They have a free 24-hour trial > https://wileyglobalfinance.wiley.com/trial/?pid=cpa&Eid=TWXCA2

I plan to utilize it again when I'm done going through my Becker FAR materials.

Hope it helps!

[Anonymous]

@nashville79: I've found that the Wiley Online Test Bank as a supplement to Becker was really helpful, especially with focusing on specific topics; it also provides an analysis of your weaknesses/strengths.

They have a free 24-hour trial > https://wileyglobalfinance.wiley.com/trial/?pid=cpa&Eid=TWXCA2

I plan to utilize it again when I'm done going through my Becker FAR materials.

Hope it helps!

[Anonymous]

Is there anybody out there that would like to swap notes? I am using Becker for study material. I just started studying for the FAR exam. I have to pass the exam by 5/23/13 otherwise I lose credit. I have very detailed notes for REG, AUD, and BEC that I have taken using Becker material, supplementing with other material when Becker does not explain to well. I would like to swap for Becker FAR notes. Thought it wouldn't hurt to ask.

AUD 94

REG 88

BEC80

[Anonymous]

Is there anybody out there that would like to swap notes? I am using Becker for study material. I just started studying for the FAR exam. I have to pass the exam by 5/23/13 otherwise I lose credit. I have very detailed notes for REG, AUD, and BEC that I have taken using Becker material, supplementing with other material when Becker does not explain to well. I would like to swap for Becker FAR notes. Thought it wouldn't hurt to ask.

AUD 94

REG 88

BEC80

[Anonymous]

@Corgis rule (I agree BTW, want one of my own someday): assuming you haven't yet, you'll probably have better luck posting your offer to swap notes on the other study group forums (i.e., REG, BEC, or AUD). I'd be very surprised if anyone in this group would happily give up their FAR notes while they're in the midst of studying for it. You can pry my notes from my cold, dead hands! LOL GL!

[Anonymous]

@Corgis rule (I agree BTW, want one of my own someday): assuming you haven't yet, you'll probably have better luck posting your offer to swap notes on the other study group forums (i.e., REG, BEC, or AUD). I'd be very surprised if anyone in this group would happily give up their FAR notes while they're in the midst of studying for it. You can pry my notes from my cold, dead hands! LOL GL!

[HustlinHustlin]

I still really struggle with deferred taxes.

My thinking is if something is expensed on the tax return but won't be expensed on financial income until a later year it would be a deferred tax asset since you are paying now and not later?

I also don't understand this concept with taking more depreciation on the tax return than on the books – i would think it would be a DTA????

However, Wiley is telling me different. Can someone explain?

B 71 - 79 EXPIRED
A 69 - 75 EXPIRED
R 65 - 48 - 45
F 56 - 61 - 65 - 64

Becker, Wiley Test Bank, Wiley Text and Ninja Notes

"The fish who keeps on swimming is the first to chill upstream" -311

Experience - Done, like WAAAY done.
Still need 30 more credits, in basket weaving (gotta love new CA requirements)

[HustlinHustlin]

I still really struggle with deferred taxes.

My thinking is if something is expensed on the tax return but won't be expensed on financial income until a later year it would be a deferred tax asset since you are paying now and not later?

I also don't understand this concept with taking more depreciation on the tax return than on the books – i would think it would be a DTA????

However, Wiley is telling me different. Can someone explain?

B 71 - 79 EXPIRED
A 69 - 75 EXPIRED
R 65 - 48 - 45
F 56 - 61 - 65 - 64

Becker, Wiley Test Bank, Wiley Text and Ninja Notes

"The fish who keeps on swimming is the first to chill upstream" -311

Experience - Done, like WAAAY done.
Still need 30 more credits, in basket weaving (gotta love new CA requirements)

[SeattleAccountant]

@Hustlin, it is very straight forward. “Expensed” in this context means it is subtracted from taxable income (i.e. not taxed). Smaller taxable income = smaller tax on it.

Situation 1: DTL

Tax return using accelerated depreciation results in lower taxable income (TI) in comparison to book income (BI) which uses regular depreciation. TI < BI simply translates into practical notion that today we pay LESS in tax but eventually will have to pay more b/c difference in depreciation will reverse.

If we are “underpaying” now, we have to accrue for that liability (DTL).

Situation 2: DTA

When income is recognized for tax purposes but not yet for book purposes, taxable income is greater than book income. TI > BI, we pay MORE in taxes now but later that timing difference will reverse. We have essentially “prepaid” taxes in advance, so treatment is like an asset (DTA).

Hope that helps!

Becker Class of Jan - Aug 2013: FARB DONE!!!!
CPA license pending 🙂

[Author]

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