[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

[sudha_2012]

Thank you for the suggestions @CPA1FRESh & WICPA06. Will try this now. And sorry about the multiple posts…i swear it was my crazy laptop 🙂

REG - 1/12: 77 (DONE!)
BEC - 8/12: 78 (DONE!)
AUD - 8/12 : 81 (DONE!)
FAR - 63,73,74 ( RETEST) 8/13: Please god!!

[HustlinHustlin]

Can someone explain to me how if inventory is understated in the beginning of the year and overstated at the end of the year, the final result is a understatement of CGS?

Got a whole lot of ground to cover tonight and tomorrow…..aghhhhh staycalmstaycalmstayfreakincalm.

B 71 - 79 EXPIRED
A 69 - 75 EXPIRED
R 65 - 48 - 45
F 56 - 61 - 65 - 64

Becker, Wiley Test Bank, Wiley Text and Ninja Notes

"The fish who keeps on swimming is the first to chill upstream" -311

Experience - Done, like WAAAY done.
Still need 30 more credits, in basket weaving (gotta love new CA requirements)

[WICPA06]

@Hustlin – just look at it from the end of the year. If Inventory is overstated at year end, that means you are reflecting lower inventory “sold” hence COGS is understated.

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

[WICPA06]

For example, say your true inventory should be $10k. If you understated it to $6k at the beginning of the year and overstated it to $12k at the end of the year, the net effect of inventory is still an overstatement of $12k ($12k versus the true $10k). So then if inventory is overstated, your COGS is going to be understated since you are reflecting fewer sold inventory and a higher inventory balance.

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

[HustlinHustlin]

That makes sense. I think it's the beginning balance part that throws me off. Should I just ignore the beginning portion from now on?

B 71 - 79 EXPIRED
A 69 - 75 EXPIRED
R 65 - 48 - 45
F 56 - 61 - 65 - 64

Becker, Wiley Test Bank, Wiley Text and Ninja Notes

"The fish who keeps on swimming is the first to chill upstream" -311

Experience - Done, like WAAAY done.
Still need 30 more credits, in basket weaving (gotta love new CA requirements)

[Anonymous]

@sali25 thank you so much for sharing and writing out your notes! it has helped solidify some of the concepts I was trying to get last night 🙂 I would suggest just knowing the basics of financial instruments if you don't have time to go through the whole chapter

Today…Gov/NFP, Cash flows, IFRS/GAAP differences

[WICPA06]

Depending on the wording of the question, I would just look at the final “values” for the account balance. I find that a lot of these questions are much easier to figure out if you just throw in some fake numbers. It helps the flow seem a little easier then just dealing with words and figuring it out that way.

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

[Anonymous]

Well now I have NO excuse to NOT study hard for FAR. I just passed AUD!!!!!!!! I'm officially half way done with this exam and it's the furthest I've ever been in the process. I graduated college in 2007 and periodically studied and took the exam and didn't pass anything. I gave up in 2009 and also left public accounting. I found a private accounting job that gave me confidence and opportunities, so decided I should re-sit for the exam in November 2012.

For those who doubt yourself: DON'T. Just keep going through it and sucking it up because you will come out a different and better person at the end of it all!!!

Cheers to looking forward to FAR studying!!!! 🙂

[joch0803]

I wish the whole exam could be on Percentage-of-completion and Installment Sales!!!!

Had a mini freakout! Only into reviewing chapter 2 right now, still two more chapters to do today!!! EEEEKKKK!

Back to it….

Audit 10/2012- 77
Reg- 1/7/13- 82
Financial-2/25/13- 78
BEC- 74,66,81!

License pending : )

Ethics- Passed
Experience- Done

Using Becker self study.
**For BEC retake using Ninja Blitz, Ninja Notes, Ninja Audio, and WTB (my Becker expired)

[jamesb]

GOOD BYE FAR GROUP>> I passed today!!

AUD: TBA-
FAR Done
BEC Done

Becker
NINJA for AUD

[Anonymous]

Congrats, jamesb!

Sitting for FAR next Thursday and I am getting nervous. I've been doing tons of Wiley test bank MCQs and SIMS over the last week and I'm starting to worry that I'm missing too many details. Half of my sessions are in the 72-74 range and half are in the 78-82 range. Putting extra time into S/E, Govt., and Combinations this weekend. I've literally woken up every night for the last week with FAR on my mind. Any last week advice?

[Anonymous]

Fiduciary funds… zzzzzzzzz

[Anonymous]

🙂 🙂 🙂 🙂

[LSNYC]

I could hardly concentrate at work today, i am blaming the test! I just want to pass this exam! trying to get in 2-3 hours tonight, a good 6 hours tomorrow and Sunday!

Hopefully its enough!

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!

[joch0803]

Watching all the scores come out today is making me nervous for this exam!!!

Major emotional roller coaster today, one minute confident- the next thinking about quitting, the next ready for it!!!!!!

CPA- unnatural form of torture!!!!!!!!!!!

Audit 10/2012- 77
Reg- 1/7/13- 82
Financial-2/25/13- 78
BEC- 74,66,81!

License pending : )

Ethics- Passed
Experience- Done

Using Becker self study.
**For BEC retake using Ninja Blitz, Ninja Notes, Ninja Audio, and WTB (my Becker expired)

[Author]

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