[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

[Qlad]

@ Rufus.. the question u asked about special revenue fund. First think of the characteristics of it. It is legally restricted for specific purposes…but for those items that r being used, for instance, Gasoline tax to repair the streets or Museum admission fees for maintaining the museum…

It has the character of “current operating expenditure” and moreover the principal and interest, both r spendable.

Now think of Permanent fund- the principal is not spendable so not same as Special Revenue Fund.

Capital project fund – comes into origin only to complete the big projects that has been passed, like construction a highway. Once the work is done…it is closed.

Debt Service Fund- think of it as a piggy bank. Other funds put out money little by little to pay the Bond interest and debt only. This fund is not used for any other purpose.

I hope ..whatever i understood about govt acc is right…if corrections needed, pls hop in…it will help all of us..

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Anonymous]

@Qlad…sounds accurate to me.

[Anonymous]

@Qlad…sounds accurate to me.

[nashville79]

Scored at 74 on FAR on 2/28. Retook yesterday. My thoughts:

MC #1: manageable

MC #2: manageable

MC #3: had to guess on quite a few, mostly in the effort of allowing for enough SIM time.

I could have spent another month going through topics and been no better off. A few of the SIM topics were rough, I only really nailed 2.

All in all, my thoughts for any of you who aren't going to spend 200+ hours preparing: get to the point where you can practice MC and then work as many as you can. No need to nail down the minutia of specific topics – not the best use of your time. If you don't get the details of every topic, move on. Regarding the SIMS, practicing Journal Entries may be a better use of your time.

Then, just go take it. ANYTHING can happen. I took AUD the first time and scored a 70, walked back in a month later literally no more prepared than the first time through and got an 84.

From what I've seen through friends/coworkers, here's my opinion of passing scores and why they pass:

1) 5-10% just get it (good test takers and don't have to spend much time “learning” the material before they can practice)

2) 10% of people put life on hold and study for months working thousands of multiple choice questions fearing a failing score. (Good on you if you're one of these folks as are a lot of accountants, but not for me)

3) The rest of people get into a spot where they have a pretty good shot of passing if they perform okay on test day. Then, just retake if needed.

[nashville79]

Scored at 74 on FAR on 2/28. Retook yesterday. My thoughts:

MC #1: manageable

MC #2: manageable

MC #3: had to guess on quite a few, mostly in the effort of allowing for enough SIM time.

I could have spent another month going through topics and been no better off. A few of the SIM topics were rough, I only really nailed 2.

All in all, my thoughts for any of you who aren't going to spend 200+ hours preparing: get to the point where you can practice MC and then work as many as you can. No need to nail down the minutia of specific topics – not the best use of your time. If you don't get the details of every topic, move on. Regarding the SIMS, practicing Journal Entries may be a better use of your time.

Then, just go take it. ANYTHING can happen. I took AUD the first time and scored a 70, walked back in a month later literally no more prepared than the first time through and got an 84.

From what I've seen through friends/coworkers, here's my opinion of passing scores and why they pass:

1) 5-10% just get it (good test takers and don't have to spend much time “learning” the material before they can practice)

2) 10% of people put life on hold and study for months working thousands of multiple choice questions fearing a failing score. (Good on you if you're one of these folks as are a lot of accountants, but not for me)

3) The rest of people get into a spot where they have a pretty good shot of passing if they perform okay on test day. Then, just retake if needed.

[Tina82]

Nashville – where are you with your other exams?

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

[Tina82]

Nashville – where are you with your other exams?

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

[Tina82]

Kind of off topic, but FAR is last for me so I think it's more stressful than when I was taking the other exams.

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

[Tina82]

Kind of off topic, but FAR is last for me so I think it's more stressful than when I was taking the other exams.

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

[nashville79]

BEC – done

AUD – done

FAR – hopefully done

REG – end of May

[nashville79]

BEC – done

AUD – done

FAR – hopefully done

REG – end of May

[Rufus]

@ Qlad, Thank you very much. That was a much clearer explanation than Becker and my old textbook.

[Rufus]

@ Qlad, Thank you very much. That was a much clearer explanation than Becker and my old textbook.

[Tina82]

@leaacpa (previous page)

It says that:

MD&A = should include and ANALYSIS of any significant variances between original and final budget, not the actual variance analysis.

The required supplementary info = you show original, final, and actual amounts

Variances = may be disclosed in supplementary disclosures (the optional ones)

Does that make sense? Can you point me exactly to where you're looking in the Becker book?

edited since i got confused myself now 🙂

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

[Tina82]

@leaacpa (previous page)

It says that:

MD&A = should include and ANALYSIS of any significant variances between original and final budget, not the actual variance analysis.

The required supplementary info = you show original, final, and actual amounts

Variances = may be disclosed in supplementary disclosures (the optional ones)

Does that make sense? Can you point me exactly to where you're looking in the Becker book?

edited since i got confused myself now 🙂

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

[Author]

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