[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

[Future GA CPA]

Exam tomorrow! Any last minute tips for test day or preparations before I walk in? I've taken both Becker progress tests, wrote out the explanations for every one I got wrong to get an understanding, have done countless progress tests through Becker, and some through Wiley. Still not feeling super confident though.

AUD - 87 4/9/13
FAR - 85 5/17/13
REG - 75 7/1/13
BEC - 82 7/29/13

Now just waiting on experience starting in January

[Path To CPA]

Hi everyone,

Can any of you help me to figure out how to solve the following problem with a breakdown of the WACSO calculation? (Thanks)

An entity authorized 500,000 shares of common stock. At January 1, year 2, the entity had 110,000 shares of common stock issued and 100,000 shares of common stock outstanding. The entity had the following transactions in year 2:

March 1 Issued 15,000 shares of common stock

June 1 Resold 2,500 shares of treasury stock

September 1 Completed a 2-for-1 common stock split

What is the total number of shares of common stock that the entity has outstanding at the end of year 2?

a. 117,500

b. 230,000

c. 235,000

d. 250,000

REG: 68, 75
AUD: 80
BEC: 77
FAR: 24, 67, 69, 72, 80 Thank you Lord!!!!

Finally Done! Perseverance is the key to success

NYS Licensed CPA - 2013

[logueco]

@PathToCPA as far as I can tell in that question you aren't supposed to calculate WACSO. They are simply asking what the total number of shares of common stock they have outstanding at the end of year 2, which would be 235,000:

(100+15+2.5) x 2

[Path To CPA]

Thanks Logueco,

Sometimes my mind makes things more complicated than what they really are. Questions like these, as simple as they are, are the ones that caused my downfall because I always assume that they have hidden tricks.

This was so straightforward, I still can believe all the calculations I have been doing to solve it.

Thanks again.

REG: 68, 75
AUD: 80
BEC: 77
FAR: 24, 67, 69, 72, 80 Thank you Lord!!!!

Finally Done! Perseverance is the key to success

NYS Licensed CPA - 2013

[logueco]

@PathToCPA I know what you mean, I have a tendency to start making easy questions hard by over thinking them and assuming there is some trick I'm obviously missing. Usually when a go back over the MCQs I get wrong something like half of them I'll either have not answered the question they asked or overcomplicated something that was pretty easy from the start.

[gchantur]

Hello guys,

finished my exam 5 hours ago.

T1: easier than expected

T2: Harder than 1st,

T3: HArder than t1, similar to T2

Questions were pretty spread out, Kind of surprised. Only thing, I am disappointed that there were 6-8 IFRS questions that I felt so strong about but the way AICPA was asking is nothing that Becker thought. Honestly, it is different. So It was tought but I managed time surprisingly well and had 1.5 hours for sims. Got pissed that I spent lots of time on research, and still not sure if I was right or not. Also there was one more Sim I felt very weak about, hopefully I got lucky there. Obviously I have no idea or feeling whether I passed or not since it's my first exam. If anyone is interested in specific answers feel free to ask.

I got one questions now: Where should I check result? I'm from Chicago and no one gave my directions. I would appreciate it very much. I know it will be around early June but I still would like to be able to check it.

Thank and good luck.

FAR - May 16th --- 83
AUD - August 2nd --- 81
BEC - December 2d --- 76
REG - February 10th---77
Ethics - February 23rd - 98

[kels417]

@gchantur the scores are released at ilboa.org and then click on the “online applications and transactions” to log in.

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[Anonymous]

@gchantur

Are the Becker questions still more difficult than the actual exam questions? I remember this being the case back in 2011. Also I'm freaking out on the Non-Profit section, I just don't get it. Any suggestions as to how to go about studying for that?

Thank you much.

[gchantur]

@allsgood, hnestly, NFP questions were up to 10 and I thought they were in the easier side of exam. I had issues with it 2-3 days before exam and went back and tried to logically understand “PUT” classification and how it gets reclassified and I thought it cleared lots of fog for me. From my own experience I woulnd say that GOV was heavily tested, maybe total 10-17 questions on gov and NFP total. I liked those. Ones I was disappointed with were IFRS, because I did great on HWs on it and progress tests and practice exam but actual exam questions were total opposite of what becker studies. there were around 7 of those. Anyone had the same experience with IFRS?

FAR - May 16th --- 83
AUD - August 2nd --- 81
BEC - December 2d --- 76
REG - February 10th---77
Ethics - February 23rd - 98

[MrsBing]

I've been going through the newly released AICPA questions for FAR today and I'm surprised by the fact that they're not nearly as wordy or tricky as the Becker or Wiley questions. Is this a good representation of the questions on the actual exam? I've been mainly worried about having enough time to complete the questions because with Becker some of the questions can take so long.

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

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

Licensed Arizona CPA

[RandomAlt]

Good morning candidates! Welcome to Saturday morning FAR studying!

My day so far:

4:45AM: Wake up to drive my grandma to the airport…50 miles away

6:00AM: Drop grandma off, drive back

7:20AM: Get to Paneras, get a very LARGE cup of coffee

7:40AM: Open up CPAexcel and another71.com forum

7:45AM: Start studying

May everyone have an exceedingly productive day! 🙂

FAR - [10/07/2013 --> 66] [07/07/2014 --> 86]
BEC - [08/31/2014 --> 86]
AUD - [11/24/2014 --> 88]
REG - [02/14/2015 --> 92]

[Tncincy]

Well I thought I was getting started early today, but you are hours ahead already. That's great. The books are open and diving in…..I guess I have to settle for McDonald's coffee. No barbeques, picnics, graduations, birthday parties, baby showers, etc….study, study, study is the plan. It's amazing how many things will go on when I have to study. Oh well then

It begins with a 75
Been here too long as a cheerleader....ready to pass

[MrsBing]

I'm suppose to study today and take the first Becker final exam tomorrow, but I've had a headache all day and pregnancy brain. I am not feeling confident at all. 🙁

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

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

Licensed Arizona CPA

[RandomAlt]

So I'm up to the equity method section in CPAexcel. Anyone have any good tips/mnemonics for using the equity method?

FAR - [10/07/2013 --> 66] [07/07/2014 --> 86]
BEC - [08/31/2014 --> 86]
AUD - [11/24/2014 --> 88]
REG - [02/14/2015 --> 92]

[Daria84]

@RandomAit

When you have equity method remember that everything goes through the investment account, where as under cost method, investment account only changes when there is significant impairment of the investment or when there is a liquidating dividends distributed. So any income for the from the investment company would increase the the investment account on the balance sheet and would also increase investment income on the Income statement for the % invested. And any dividends declared or paid reduces your investment account under equity method.

Try using T accounts for cost method and equity method and see the differences. If you are using becker, they have journal entries listed for both methods. Take those journal entries and put them in the a T account. I did that and helped a lot differentiating between both methods. Hope this helps!

Texas Candidate
A-71, 68, Retake Feb 2016
R- October 3rd 2015
F- January 2016
B

[Author]

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