FAR Study Group April/May 2013 - Page 90

  • Creator
    Topic
  • #176441
    tmturner74
    Member

    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

Viewing 15 replies - 1,336 through 1,350 (of 1,364 total)
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    Replies
  • #418153
    Anonymous
    Inactive

    I just did a SIM in the Wiley Test bank for business combination/consolidation and it was a FULL consolidation will all of the eliminations etc. Is that possible to be on the CPA exam? Argh. I know the basic concepts but on a little screen without excel scrolling up and down to look at all of the balance sheets and income statements and notes on each company was very difficult. I inherently missed some of the details. That seems a bit long and tedious to make it on the exam. Hmmm…

    #418154
    MrsBing
    Member

    I haven't taken an exam yet, but I don't see why it can't be a SIM.

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

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

    Licensed Arizona CPA

    #418155
    MrsBing
    Member

    Just finished the Becker Final Exam 2 and got an overall 83% (thought I did better than I actually did on MCQs). Scored 74% on MCQs and 96% on SIMs.

    Last week, I got a 75% overall on the first Becker Final.

    Tomorrow, is the last day before the exam. I plan on reading through all my notes, re-reviewing the Governmental and NFP chapters and doing 20-30 MCQs per chapter. Then finish around dinner time and go to bed super early, since it'll probably take me awhile to fall asleep.

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

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

    Licensed Arizona CPA

    #418156
    MrsBing
    Member

    Quick question about the actual exam. While completing a Becker SIM, I had one that was journal entries. I got all of the journal entries correct, but it marked me wrong for I believe not putting a zero on the opposite side. For example, if the answer is a debit of 500 to cash, it marked that right, but marked a point off for not putting a zero in the credit side. Is the actual exam like this?

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

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

    Licensed Arizona CPA

    #418157
    gousc12
    Member

    I started a topic on the main page with this, but this is probably the most appropriate spot for the post…

    I am taking FAR on the 31st, and took the first practice test yesterday (second one coming up today).

    My scores went like this

    T1: 86

    T2: 67

    T3: 86

    Sims

    1: 75

    2: 83

    3: 100

    4: 67

    5: 100

    6: 100

    7: 0

    For the people who used becker for FAR, how would you compare the first becker exam to the actual thing (w/o violating disclosure rules).

    Also did anyone else have trouble with becker 2012 incorrectly grading journal entries? I had the correct accounts selected and amounts but they were marked wrong because they were not in the correct order.

    Also any last minute advice would be appreciated 🙂

    Thanks in adance!

    BEC - 88
    AUD - 94
    REG - 87
    FAR - May 31

    #418158
    Anonymous
    Inactive

    @azhamadto Can you tell me what topics are covered in Becker F10? I'm using 2011 materials and it only goes up to F9.

    Thank you

    Good Luck to those testing in the next couple of days!!!

    #418159
    mangos
    Member

    @gousc: I had similar results to yours, and ended up with a 96.

    FAR (5/07/13): 96

    #418160
    Anonymous
    Inactive

    Time to allot for FAR SIMS?

    For those individuals who have taken FAR or for those currently studying and have gotten recommendations from their study materials, what is sufficient time to finish SIMS?

    I am budgeting 1 hour and 45 minutes for the SIMS – which leaves 45 minutes for each MC testlet.

    Any thoughts or recommendations are appreciated.

    #418161
    MrsBing
    Member

    @allsgood, F10 is a bunch of small topics. Fair Value, Partnerships, VIEs, AROs, Liabilities, Contingencies, Subsequent Events, Financial Instruments, and review of IFRS vs US GAAP.

    @cptnmorgan, I haven't taken an exam yet, but I'm allocating 1 hr 30 min to the SIMS, 50 min for each testlet. I'd like to hear what others think too.

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

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

    Licensed Arizona CPA

    #418162
    kels417
    Member

    @gousc12 I also had problems with Becker grading my journal entries incorrectly. The order won't matter on the actual exam and I don't think you need to put zeros unless they specifically tell you to.

    @allsgood I have the 2011 book too. All of f10 is in there, it's just spread throughout the book.

    I took a progress test yesterday and finished the 100 mcq in 2:20, so I'm hoping to finish the 90 on the real thing in around 2:30 or less and leave an hour and a half-ish for sims.

    Final review for the day…rereading ch.7-9 (nfp & govt) which is where I did the worst on my progress test + the chapter questions for each, memorization of as many formulas as possible, mnemonic review, simulation review, and flashcards.

    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

    #418163
    MrsBing
    Member

    I was feeling excited about the exam yesterday, now I'm feeling nervous. Been ranging from high 70s to low 80s when doing comprehensive progress tests.

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

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

    Licensed Arizona CPA

    #418164
    Anonymous
    Inactive

    I have a deferred tax question if anyone can help or provide clarification.

    In the deferred tax questions in the Wiley test bank, I cannot figure out when to use the current or future tax rate or the “enacted” versus “substantially enacted” rate when calculating the deferred tax asset or liability. The answer explanations in Wiley do not clarify.

    For example, the problem might say for a depreciation temporary difference that the current enacted tax rate is 30% and the future rate is 40% (future meaning when the deferred will flip). Which do you use to calculate the deferred tax liability? Sometimes it says enacted is 30% and substantially enacted is 40%. What do you use in this case?

    #418165
    kels417
    Member

    @captnmorgan I believe the substantially enacted rate is only used with IFRS and is disallowed under GAAP. Always use the enacted rate for US GAAP. When it asks for deferred asset or liability, you use the future rate. When they ask for current asset or liability, you use the current rate. This is what I've been following for Becker questions and haven't had any issues.

    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

    #418166
    mangos
    Member

    Use the rate of when the difference is expected to reverse. If it's expected to reverse in Year 3, use the enacted rate for year 3.

    “Substantially enacted” is only applicable for IFRS.

    FAR (5/07/13): 96

    #418167
    kickash
    Member

    Hi guys,

    5/31 is the day for FAR. My progress test scores are all over the place for both Wiley and Becker, some in the 90's, 20's and 40's. This test is so random, I don't want to stress it and just take it. I feel overwhelmed with all the info that could possibly be tested. Any advice? Has anyone been in a similar situation and passed?

    Thanks!

    AUD - 64,77
    BEC - 74,72,72,78
    REG - 63,74,85
    FAR - 73, 5/31/2013 - 76! DONE!

Viewing 15 replies - 1,336 through 1,350 (of 1,364 total)
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