[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

[Igotthis]

Hey guys,

I hope everyone is ready this week! Today is definitely my low point in studying for this exam. My exam is this Thursday and I was having a panic attack last night when I took the AICPA release questions and got a 46% score.

I went through the book twice, and started working on the wiley test bank questions this past weekend. I still got 3 days left but my confidence level is all time low. 3 months of studying to get this!? What happened to the stuff I have been studying!?

Just needed to let it out and thought that probably someone is feeling the way I am in here. Just thinking about that 46 is making me tear up. *sigh* Life goes on… Can't give up. Gonna go to work then get right back into it once I get off.

Well happy studying everyone! Good Luck to all those taking it this week!

[peetree]

Just wanted to hop in here real quick and say good luck to you guys in your last days of studying!

I know you're all going to do so well.

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]

Hello FAR family!

I have been MIA for a long time but I've been busy studying, working for busy season and helping my husband with a basketball injury.

I've been really stressed with reviewing for FAR and busy season. The day of my exam I almost cried on my way to take the exam. I was about to call my mom or grandmother, like I often do when I'm worried/ stressed. But my mother didn't pick up. Since my grandmother lives in a different time zone, I decided not to call her. Instead I read a devotional and the devotional for that day was based off of the verse “I will never leave thee.” Hebrews 13:5 This brought a flood of peace over me and immediately calmed me. I know He will never leave me. He hasn't yet, so why should today be any different, right?RIGHT!! 🙂

My retake exam was originally scheduled for Feb. 16th but I paid about $75 to reschedule it for Feb. 23rd. It was TOTALLY worth it. I can't tell you how much more prepared I felt with only an extra week of studying. The most challenging part of studying for FAR was by FAR (no pun intended) keeping all I had learned fresh. It's like just when I had decided to address weak areas, I would go back and review everything and then it would seem as if I had become weak in another area while I was studying a different area….soooooo frustrating.

I went to the testing center and accidentally brought the NTS from the first time I took FAR, so when I went to enter the launch code, the system wouldn't let me start the test. Fortunately I was able to pull up the email I received with the more recent FAR launch code. (good thing I had arrived about an hour early…not on purpose btw)

In the end I felt confident when I finished the exam. The make up of topics covered in this exam were COMPLETELY different from the first FAR exam I took (Thank the Lord!) and the topics that were mostly tested were the ones I was actually comfortable with 🙂 There were two Sims I struggled with, but I just took a deep breath and tried to tackle them as best I could. I left the exam with a little less than an hour to spare. Could I have spent more time on those two Sims? Of course. Did I feel like it? Absolutely not. So like I said, I just took a deep breath and completed them to the best of my ability.

Not going to lie, if I don't pass, I will be surprised. I don't want to be overconfident though. March 11th can't come soon enough.

On to BEC for me folks. I will keep all of you FAR folks in my prayers as we continue our journey to completion. God bless!

[LSNYC]

Igotthis – I'm feeling the same way, test is tomorrow and I don't think I will ever feel ready. Don't let it get to you, you prepared you will do the best you can and that's all we can do.

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]

i got this: 🙁 i am in the same boat .. 🙁 just taking it easy

[Igotthis]

@LSYNC and Nam,

Thanks, it is good to know that I am not the only one feeling this way. We know what we know and I hope mine will show during my exam.

I came this far, can't give up now. Gotta take this thing on Thursday.

[Anonymous]

@IGOTTHIS, I am right there with you.. My exam is in 3.5 hours and I had my panic attack this morning. I could barely breath. I know I am better prepared for it this time than last window but I feel worse. Maybe because I know after this time I only have one more shot to pass before I lose another credit. My daughter (8 yr old) started giving me test taking advice and doing whatever she could to get my mind off of it and it helped!

I'll post tonight after I get back. Have an hour commute to my test center.

[Anonymous]

HEY HEY HEY! WHAT'S GOING ON HERE?

Now you guys all know there is NO WAY someone can be completely confident with ALL topics. Let's be honest, the exam is not even designed for that to be possible.

That being said, I'm going to need Nam, Igotthis, bnrhilton and LSYNC to give yourselves more credit for what it is you DO know. If you all have prepared properly, you will be able to take deep breaths and work through your weaker topics. All you can do now is MCQs and more MCQs up until your exams.

I have confidence in you guys. Keep in mind that these practice exams are always more difficult than the actual exams. Deep breaths DEEP BREATHS!! I'll be praying for you guys 🙂 Let me know how the exams go. lookin forward to hearinig from all 4 of you.

[yemdross]

…I am not really confident myself but there is one thing I know that the actual exam is not difficult, what they are doing is to play with our psyches, make us panic and nervous. If you don't understand one chapter, move to the next one that you know and build your confidence again.

There are so many beautiful things in my life that these tests had cut me short off and I am gonna make sure she pays for all of it in many folds.

On this note, let's build our confidence and re-strategize our armor,weapon and defense system..You all know that there is one thing that you know is your strength that you have discovered in this journey, mine is anything I can grasp before 24 hours to the exam will remain there forever, this is when my adrenaline rushes and my brain is receptive to take it in..Look for that one strength and build on it. Make sure you get some rest at this crucial moment, just know this is not a matter of life and death, yes I know it's dissappointing doing the same thing all over but know you are in for something bigger and better.

We are together in this and really wish we all come out successfully.

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

[MCLKT]

I'm lovin CPA4Bday's pep talk!

Come on FAM, we GOT this!!!!!

We have studied. We know the rules of capitalization and how to create an amortization schedule. We know eliminating entries and all about the 20-50% *influence rules! We know the framework and guidance on accounting changes v. errors. We have mnemonics for gov't funds and know the revenue recognition for them. We know NFP revenue classifications and of course everything must be transferred to Unrestricted before paying out. Don't even get me started on investments or bonds..

Come on FAR FAM we know IFRS, Foreign Currency, Financial Instruments, LEASES, PENSIONS. We have studied!

We will face the exam this week, and we will win.

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

[Anonymous]

I had a panic attack as well last night and reading all these responses on how to get over it are super helpful. I eventually did calm down a bit, trying to channel my panic into anger for Wednesday. We can do this!!! We have been studying so hard! On Wednesday I plan on listening to some “pump” up music on my drive to prometrics to get me psyched to knock this test out. Silly but I think it will help!

Today I'm tackling bonds/pensions/leses/government/NFP. Thanks to all that helped clarify my EPS question earlier. I do have an additional one though, for diluted EPS concerning convertible cumulative preferred stock, is the numerator effect to add back what we had subtracted for dividends in basic EPS?

[MCLKT]

@cpahopeful – so on EPS BASIC you subtract any P/S dividends because those earnings are not available to Common Shareholders.

When diluting you pretend all convertible P/S has been converted, so there would be no P/S dividends to subtract.

Hope that helps 🙂

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

[joch0803]

hey Everyone,

Just go out of my test…not sure how to feel.

I am REALLY happy to be done studying for a week!!!

My testlets didnt seem to get harder, so a little nervous about that. My simulations weren't bad, everything I've seen before and thankfully because of everyones suggestions I studied journal entries last night.

Some big topics I didn't see at all and a lot of a couple little topics.

All in all it could go either way : /

Good luck everyone and see you all when the scores release!!!

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]

Thanks @MCLKT. Best of luck to you @joch! Enjoy the rest of your day

Another question…lol. Are bond issue costs deducted from net cash proceeds? I was jsut working on a question in CPA excel,

On March 1, 2005, Cain Corp. issued at 103 plus accrued interest, 200 of its 9%, $1,000 bonds.

The bonds are dated January 1, 2005 and mature on January 1, 2015. Interest is payable semi-annually on January 1 and July 1.

Cain paid bond issue costs of $10,000.

Cain should realize net cash receipts from the bond issuance of

and I got $209,000 which was wrong, because the answer was 199,000. Saying I have to subtract 10,000 of issue costs from the net proceeds. Is that true? I thought they were just amortized?

[J]

Debt issuance costs are amortized over the life of the bond, but when the question asks for NET bond proceeds, you would subtract them out as you're paying for them when the bond is being issued. The key to understanding the question is the semantics… if the question just said “bond proceeds”, you wouldn't include the debt issuance costs but the addition of the word “net” means that you need to deduct that amount.

[Author]

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