[jeff]

Resources:

Free Study Planner + FAR NINJA Notes (Governmental Accounting): https://www.another71.com/cpa-exam-study-plan/

FAR Exam Experience: https://www.another71.com/cpa-exam-forum/topic/far-exam-experience-official-thread

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

[WICPA06]

@MCLKT – the Roger saying for qualitative characteristics has really stuck in my head.

Fundamental Qualitative Characteristics – “Roger is Politically Correct, because he is not on the FENCe”. All capital letters are the mnemonic.

Relevance – Predictive Value, Confirming Value, and materiality (which isn't in the saying)

Faithful representation – freedom for Error, Neutrality, Completeness.

Then for Enhancing Qualitative Characteristics – “roger is CUT like a V”. Or just CUT-V for short. All capital letters again.

enhancing characteristics – Comparabaility/Consistency, Understandability, Timeliness, Verifiability.

Let me know if that doesn't make sense. I did my best without being able to underline or bold anything.

BEC - 77 (lost credit), 4/5/13
AUD - 83
REG - 77
FAR - 73, 74, 80! One more to go!!

[peetree]

Little over 24 hours to go! oh baby!

@MCLKT

I use the “passing confirms money” “completely neutral and is free from error”

to remember predictive value, confirming value, materiality & completeness, neutral, and freedom from error for faithful representation.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[Anonymous]

I think Becker way is perfect like peetree doing it

btw good luck tommorow peetree

i will take this exam on May

hope to see you all there when Jeff opens the group, but see with a pass for sure 🙂

good luck all

[peetree]

Thanks @AnasAG

I don't know everything well, but I think I know enough to get a pretty decent score.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[peetree]

Oh man, you know you've been studying governmental too long when you start singing “GALS GOES BARE!!!!!” to the tune of this song….

I'm starting to lose my sanity

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[mjp44]

Can you guys help me out with this problem:

A contractor recognizes $42000 of gross profit on a contract at the end of year one of the contract under the % of completion method. At the end of year two, the gross profit to be recognzied for both years togther is $34000. The total anticipated gross profit on the project estimated at the end of year two is $78000. What of gross podit is to be recongized for year two alone?

A.78,000

B.34,000

C.8,000

D.0

This seems like an easy question but the answer is 8,000 and i cant conceptualize it. If GP is 42000 in yr 1 and at the end of yr 2, GP is 34000 for both years, to me that means there was a loss in yr 2 of 8000. I would think no GP is recoginized in yr2. Can you guys help me wrap my head around this question?

FAR- PASSED (11/13)
REG- PASSED (2/14)
BEC- PASSED (5/14)
AUD- PASSED (8/14)

If it's important to you, you will find a way. If it isn't, you will find an excuse.

[peetree]

@mjp44 Is the question asking for the gross profit adjustment amount?

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[MCLKT]

Peetree, you make me excited to take the exam! Good luck bro!!!!

Can you all believe we will be celebrating our passing scores in just over 2 weeks 🙂

@WICPA06 – I followed along quite well with Rogers! I like Becker's way too. Oh, I hope I get a SIM on the Characteristics, lol.

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[Shamir215]

I have been watching you guys conversate about the exam and decided to actually log on for the first time in two years. From what I saw on the exam monday, keep studying what you guys are studying. I pray WE ALL pass. Hopefully 3x's is a charm.

My advice is, know what you know!!, nothing worse than thinking, is it this or is it that? Do I Add or Sub from NI? etc…..

@NAM & Peechtree, know that chapter in your sleep. You never know, you might get 2 SIMS on that chapter. LOL GALS GOES BARE.

@MJP44 I would like an answer to that question also… Too Bad I didn't understand it at the right time. I thought the samething you did.

AUD 57,{75}
REG 65,{78}
FAR 64,68,72,{75}
BEC 68,{78}
Becker 1st Time Around in 2010. NOW, Becker MCQ's & Wiley TestBank W/Ninja Notes 2012-2013

[mjp44]

@peetree the question is asking for the amount of gross profit in year 2 alone. Its from CPAexcel MCQs and the explaination states that it is an example of a single period loss. The loss is computed as $34,000 GP in yr 2 – $42,000 GP profit in yr1 = $(8,000) single period loss. The loss ‘reverses' 8,000 of GP of the $42,000 of GP recongized in yr 1.

FAR- PASSED (11/13)
REG- PASSED (2/14)
BEC- PASSED (5/14)
AUD- PASSED (8/14)

If it's important to you, you will find a way. If it isn't, you will find an excuse.

[peetree]

@mjp It sounds like a poorly worded question to me. I get what it is saying but it should have asked what the affect on net income should be or something.

Punch in the stomach to the examiner that wrote that bad boy.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[LSNYC]

I need someone to give me a slight kick in the a$$.

Wednesday is usually my off night from studying. My husband and I have a running commitment on Wednesday nights. I know I should skip tonight and study but it sounds so much more fun to go then to study. My test is 6 days away someone tell me to skip and study and it will be worth it.

I think part if the issue is I am not feeling overly confident about the exam….

A - 61, 91!!
B - 78!
F - 76!!!
R - 71, 73, 74, 69, 77!!!!

Finally done!

This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

[wizards8507]

@LSNYC.

Go be with your husband. People studying for this exam make themselves miserable and sacrifice relationships. It's not worth it. If you're going to pass, you're going to pass whether you take tonight off or not.

NY CPA

[MCLKT]

LSNYC – I disagree with Wizards. You have the rest of your natural life to be with your husband and only 6 days before your exam. It's not like it's his birthday, or he's graduating or lying up in the hospital. It's a WEDNESDAY NIGHT. Suck it up and study. (I hope that's the kick you need!)

You need to be doing MCQs like nobody's business. Your fate of passing and failing has not been determined yet. I've seen you around the website and I know you have been preparing. But you haven't done enough to feel super confident, which I understand can be discouraging in and of itself. But the last week is really when the big picture comes together. This is when you can finally start working problems and they are all making sense. This is when you get one wrong and you are like, “dang it! I knew that! Note to self REMEMBER….”

This time is what I think is the absolute most valuable study time.

You need to study tonight. And take a few days off after your test.

Sacrifice now so you can be done with this.

It's not “you'll pass if you are going to pass”

It's “you will pass if you put in the work and study when you need to study”

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[peetree]

I agree with @mclkt

That last week before the exam you want to be thinking about FAR like this little bird.

https://cutecaptions.com/images/puffball/come-at-me-bro.jpg

Hell, it was my birthday two days ago and I was pounding away multiple choice questions and practice exams. The CPA exam is one of those equalizing tests where your score is very closely related to how much work you put in.

I recommend a quick romp with your husband and a longer romp with some multiple choice and note reading.

FAR 02/21/13 - 95
REG 07/02/13 - 87
AUD 08/02/13 - 94
BEC 08/30/13 - 85
Ethics Exam - 90

Illinois candidate awaiting his license

Used Becker Self Study | Ninja Audio | Becker Flash Cards | Ninja Notes | Wiley Test Bank

[Author]

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