[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]

Just finished looking over everything one last time. Time to go have dinner, watch a little tv and relax, and then get a good nights sleep.

Tomorrow morning = time to slay FAR!!

I will be back tomorrow afternoon to give my thoughts.

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

[peetree]

good luck @wicpa ! knock it out of the park

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]

Good luck @wicpa06 were rooting for you!

[MCLKT]

Back at it tonight. The “day off” from work became one of my busiest days working from home! Ugh, I have got nothing done today and it's already 8 pm :/

Time to watch Kid President pep talk again and get ready for battle. FAR is coming whether I'm ready or not!

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

[LSNYC]

MCKLT How was the storm? Happy to hear you are safe even if the day was a rough one work wise.

I can not seem to focus tonight! My mind keeps drifting, i am going to finish up 20 more MCQ and call it an early night i think, the week must have gotten to me, and I am not sure why…. UGH

Happy studying

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!

[Anonymous]

Been working on Gov/NFP all day, didn't think it would take this long. I guess I'm also working slow and a bit distracted today. Trying to go over cash flows after … happy studying to all!

[MCLKT]

I'm sure the week is getting to us all because we've been at it nonstop. I just hope our scores are >75 in a couple of weeks. I don't want to go through this again. I hate FAR.

The storm wasn't bad for me (even with 5-6″ snow and the city shut down). I'm lucky because I'm allowed to work from home on these occasions and have a pretty sweet set up. So I basically haven't seen the light of day since Wednesday, lol. Thank you all for your thoughts!

Happy studying all. I think I'm going to wrap up some quizzes and call it a night too. Maybe read flash cards until my eyes won't stay open.

Good night FAR FAM.

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

[HustlinHustlin]

Family, bonds are killlling me! I'm going through the book and have FOUR more chapters to cover tomorrow. I don't even know if I will have time to do progress tests. Right now im just going through the chapters, making flashcards of main concepts and doing the end of chapter questions. I wanna pass this guy soo bad. Wish I wouldn't have been such a slapd!ck these last two months. Bah. Oh well, I shall fight on…

Can someone explain the difference between capital and sales type lease? I totally get everything around it, but I don't think Becker does a good job at explaining the difference. A sales type lease is classified by the lessor if it meets all 1) classified as capital lease by lessee 2. No uncertainties regarding unreimbursable cots

and 3. Reasonably predictable collectibilty. But say, if only condition 1 is met it is a capital lease?

Nervous and losing steam… I think I am caffeine immune…

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)

[SeattleAccountant]

@Hustlin,

I guess your confusion comes about the criteria you have listed: lessee owns (capitalizes) asset, no uncertainties in regards to so far unreimbursed costs and lease payments collectability is reasonably predictable – these conditions apply to both sales-type and direct financing-type capital leases [Lessor books].

If these criteria are not met, it is possible that lessor will end up classifying lease as operational.

Think about it, lets say that predictability of payments is in the air = “lessor owns it”; costs are not reimbursed = “lessor owns it”, lessee does not capitalize asset = “lessor owns it”. If lessor still owns it, then he is just rents it out.

What's all to this! Don't overstress, actual test may not even ask you a single question on it, it is very possible. And if it does, try to give your best educated guess.

You can do it!

Becker Class of Jan - Aug 2013: FARB DONE!!!!
CPA license pending 🙂

[peetree]

Good luck studying guys! Nice long Saturday to DO WORK!

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

[yemdross]

Last night felt like I was on some kind of sleeping drug, anywhere I sat, I dozed off. My body got tired of the 4 hours sleep each day, so I gave up to allow her to rest last night because from now till Wednesday..It will be tug of war between her and her lover (Caffeine)… OH happy day! Let's do it!

2014 experience..No more excuse, this is it!
I CAN'T KEEP CALM UNTIL I BECOME A CPA

[Anonymous]

yesterday i decided to sleep , i cudnt sit ! my eyes were red (like a zombie!!) and was feeling sick.. nevertheless, today I am full of energy and caffeine..

@hustin: Capital lease is when substantilly you own that asset , its on your balance sheet and you depreciate it ( REMEMBER “OWNS” criteria) ..

Sale – lease type – you own something , you sell it to “A” and lease it back from “A” For eg

CASE 1 – PV/SP is less then 10% recognise all gain/ loss on I/S.

CASE 2 : if PV/SP – 10- 90%

* defer the lease pyts and amortize over the life of lease

*excess gain SP-bv-pv lease pyts = x on I/S

CASE 3 – PV/Sp = is more the 90%

defer all gain

[to_be_a_CPA]

Good Morning FAR fam, just checking in. I am still reviewing and its starting to come together…. i think. lol My plan today is to take and pass at least 10 30MCQ pop quiz in the wiley test bank. Also I plan to go over flash cards between the quizzes. I have taken two so far this morning averaging an 85%.

Good Luck Studying!!!

AUD- 61,76-PASS!!!
BEC-60,71,76-Pass!!!
REG-66,78-PASS!!!
FAR-71, 81-Pass!!!
MD Candidate

Becker Self Study expired now using Wiley Text Book and Test Bank

[joch0803]

Good Morning everyone!!

2 hours and a cup of coffee into studying this morning. Not feeling confident at all, was thinking about rescheduling, but only open spot is Friday and its to busy at work right now to take more time off.

Hoping the next two days of cramming will bring everything together. Just finishing acquisitions…now onto intercompany transactions.

hate the feeling of knowing you could've prepared more and didn't…..but who knows…Its all a gamble now…I HATE THIS TEST!!!

haha

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)

[Anonymous]

about to start pension + deferred tax liability

YO FAR FAM for power weekend!!!

[Author]

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