[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]

Could you guys get a test like Monty speaks of? Sure you can but everything is fair game. Good luck guys! You can do it!

[GirlAcct74]

MustPass 1988, I passed FAR by scoring strong in Gov't/NFP and the simulations only. I got a 77; but I still passed it. It was the retake after failing the first time.

FAR 56, 77 (credit gone - THANKS BEC!), 73, 74, 79!!!!
REG 65, 65, 75
AUD 59, 64, 70, 70, 80
BEC 68, 73, 78

[monty]

Hey MustPass1988 one thing that helps me get over the hump of not wanting to study is a plug in called “Speak Text” I get tired of reading and I am more of an audio learner so on my IPad I like highlighting the text and have it read me the question so I can follow along and respond to the answer… On my PC there is a plug in on Google Chrome that is called “Speak Text” and it essentially does the same think.. it reads the question for me when I use it on the online.becker.com MCQ…

[Qlad]

I think it's all different experiences…in the first attempt, I was strong in ch 8 & 9 but still got 72 ….there were lots of MCQ on little topics too that i tend to forget …so i wud suggest do everything that u can..

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

[kels417]

@qlad @monty I'm feeling the same way that you 2 are. I took a practice exam yesterday and did absolutely horrible. Made some dumb mistakes and ran out of time, but even without the mistakes and more time, I wasn't close to a 75! My exam is the 31st. My plan now is to redo all the mcq again. I had redone ch. 3-5, which were the chapters I was weak on after a progress test. I guess I'm weak in everything! 🙁 words of encouragement are needed. I am not working currently and am having a hard time motivating myself to get up and study for 8 hours everyday. Anyone else really struggling??

AUD – passed

BEC – passed

REG – 70, 70, 72, 74 rematch July 9

FAR – May 31

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

[Tina82]

From what I gather there is some speculation that the exam you take is predetermined based on whether it's a retake or how many times you take it? I thought the grading is anonymous? That's sort of strange and I would think that it's contrary to everything that standardized examinations are supposed to do.

Anyone have any insight on this?

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

[Anonymous]

I don't think it's based on whether it a retake or not. I think it's just the luck of the draw.

[MustPass1988]

I'm not sure if I would have done it differently. FAR is definitely proving to be the most difficult for me because I took intermediate accounting 3 years ago and I never had a governmental/NFP or advanced accounting course. Even tax, which I thought I hated, was easier for me to pick up than this stuff. I think it's just because there's SO much material that it's really easy to start forgetting it. Luckily, I do feel pretty comfortable with inventory, fixed assets, bonds, leases, governmental, stockholders equity, etc. I can say that for every exam I've taken, I've never walked in feeling ready for the test, I'm always sitting in the exam room trying to memorize one last piece of information, yet I am always surprised when I start the test at how much I remember and how much easier the questions seem compared to what I was expecting to get. Hopefully, that is the way it goes next week! I just want to be solid on every single topic in the book but thats just impossible so I guess it's not worth it to waste my time on tiny sections like segment reporting.

AUD: PASSED [81]; Expired, retaking August 23rd
BEC: PASSED [83]; Expired, retaking July 11th
REG: PASSED [83]
FAR: FAILED [64]; Retaking May 23rd

[monty]

kels417 need some encouragement??? in your situation (unless you where born rich) every time you feel like you don't want to study for 8 hr.. access your online bank account and look at your funds balance. Is it low? is it getting lower?

Well if so, that should be motivation to rush and study so you can pass this stupid exam, get your CPA and get a excellent job or be able to start your own business to rapidly increase the fund balance of your bank account…

I hope that motivates you some…

I am at pensions and and income tax (F6 in Becker) and just got a 55% on my progress test.. Now I will redo all MCQ of that section and re-take until I get above 75% then F7 and so on… I am not happy with the scores but other than keep doing more MCQ there is nothing else that I can do other than investing the time and attempt to do my best… WE CAN DO THIS…

[Qlad]

Pls help me with non- monetary question…

F traded delivery truck & paid $10000 cash for a tow truck owned by B.

Delivery truck Original cost 140000

Accum. depreciation 80000

FV 90000

F estimated FV of B's tow truck to be 100000. Transaction has commercial substance. What is the gain recognized by F.

The answer I get is $20000 …but no such option it says the answer is $30000…why?

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

[Qlad]

@kels417…I wud say don't rely on practice exam totally…they r basically for practice, to complete the exam in time…the actual test is very different…don't panic…I have gathered myself and left everything else on almighty…

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

[MICHI2D2G]

@Qlad

The gain/loss is recognized on the difference between the fair value and the book value of THE ASSET (90-60). You do NOT take the amount of cash into consideration.

[Qlad]

@michi

Oh ok, so the gain will be 30000…thanks, I will make a note right away

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

[danko1983]

I take mine on July 1 and after poking around a few pages, I needed to throw my 2 cents in……….

do NOT neglect government or IFRS. I can say that from past personal experiences and from other people. The tests are luck of the draw, but those seem to be a constant area of testing.

BEC - exp 2/28/13 (crap)
AUD - exp 11/30/13

[MustPass1988]

You would take the amount of cash into consideration. For a transaction WITH commericial substance, you would record the debit to the asset as FMV given up + cash paid- cash received (90,000+10000-0=100,000). So your journal entry would be:

Asset

AUD: PASSED [81]; Expired, retaking August 23rd
BEC: PASSED [83]; Expired, retaking July 11th
REG: PASSED [83]
FAR: FAILED [64]; Retaking May 23rd

[Author]

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