[jeff]

FAR Resources:

Free FAR Notes & Audio – https://www.another71.com/cpa-exam-study-plan

FAR 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

FAR Score Release: https://www.another71.com/cpa-exam-scores-results-release

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

[HopefulCPA0601]

@Zackrampage – This is a change in principle, so you would use retrospective application. The company changed in Dec 31 Yr 2. The cumulative effect is computed as of the beginning of the earliest year presented – which would be year 2, regardless of the actual date of change. So I think this question is worded weird, but on your comparative statements, you would have Retained Earnings showing for 12/31/03, 12/31/02, and 1/1/02. You would adjust this cumulative effect at 1/1/02 and that is why cumulative affect for yr 3 is 0. Hope that helps a little.

Fact nugget for these questions: Always adjust cumulative effect to earliest presented BS retained earnings for cumulative change. – prior period financials are restated first.

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[HopefulCPA0601]

@Zackrampage – This is a change in principle, so you would use retrospective application. The company changed in Dec 31 Yr 2. The cumulative effect is computed as of the beginning of the earliest year presented – which would be year 2, regardless of the actual date of change. So I think this question is worded weird, but on your comparative statements, you would have Retained Earnings showing for 12/31/03, 12/31/02, and 1/1/02. You would adjust this cumulative effect at 1/1/02 and that is why cumulative affect for yr 3 is 0. Hope that helps a little.

Fact nugget for these questions: Always adjust cumulative effect to earliest presented BS retained earnings for cumulative change. – prior period financials are restated first.

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[HopefulCPA0601]

@rigouventura THANK YOU!!

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[HopefulCPA0601]

@rigouventura THANK YOU!!

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[Amay]

@HOPEFUL Your reasoning makes sense. The issuer is the borrower because they are receiving cash now (from the investor) but have to pay them back in periodic interest payments. That is why the borrower records a bond payable when they issue the bond.

BEC: 73, 81
AUD: 85
FAR: 71, 77
REG: 74, 75...finally DONE! 😀

*This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

[Amay]

@HOPEFUL Your reasoning makes sense. The issuer is the borrower because they are receiving cash now (from the investor) but have to pay them back in periodic interest payments. That is why the borrower records a bond payable when they issue the bond.

BEC: 73, 81
AUD: 85
FAR: 71, 77
REG: 74, 75...finally DONE! 😀

*This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

[Zackrampage]

@ Hopeful thank you. Ugh always listening to audio, rewriting and reading notes, but doing horrifically on MCQ's, 🙁

FAR - 62 , End of aug 2015
BEC - 67, 67
AUD - TBD
REG - TBD

[Zackrampage]

@ Hopeful thank you. Ugh always listening to audio, rewriting and reading notes, but doing horrifically on MCQ's, 🙁

FAR - 62 , End of aug 2015
BEC - 67, 67
AUD - TBD
REG - TBD

[HopefulCPA0601]

@Zackrampage – I am the same way, I would rather reread my notes and rewrite than do questions, so I realized that is my weakness because I've been avoiding them, and this weekend I am forcing myself to get through 200 questions a day. 20 at a time, review what I got wrong and move on. For the ones I got wrong I am printing them and writing down a note of why I got it wrong so it sticks. Not sure if that method will help you, but figured I'd share! Keep your head up!

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[HopefulCPA0601]

@Zackrampage – I am the same way, I would rather reread my notes and rewrite than do questions, so I realized that is my weakness because I've been avoiding them, and this weekend I am forcing myself to get through 200 questions a day. 20 at a time, review what I got wrong and move on. For the ones I got wrong I am printing them and writing down a note of why I got it wrong so it sticks. Not sure if that method will help you, but figured I'd share! Keep your head up!

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[WANNABE_CPA]

@zackrampage – The practice sessions you do gets saved on the My assessments generally(the big option next to the Home icon) and also should save in My reports..If there is some issue with your account then only it shoud'nt, then you should contact them…

@HopefulCPA and zackrampage… i am doing the same as well..making flashcards for the concepts i am getting wrong and revising again and again until i am good with it.Sometimes i just cant keep small things in mind and keep doing them wrong.It does help me. But there is just sooo much to remember that it does discourage me once a day everyday and then i have to get myself in high spirits everytime…i think it happens with everyone…thats called Torture of CPA lol..

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[WANNABE_CPA]

@zackrampage – The practice sessions you do gets saved on the My assessments generally(the big option next to the Home icon) and also should save in My reports..If there is some issue with your account then only it shoud'nt, then you should contact them…

@HopefulCPA and zackrampage… i am doing the same as well..making flashcards for the concepts i am getting wrong and revising again and again until i am good with it.Sometimes i just cant keep small things in mind and keep doing them wrong.It does help me. But there is just sooo much to remember that it does discourage me once a day everyday and then i have to get myself in high spirits everytime…i think it happens with everyone…thats called Torture of CPA lol..

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[Zackrampage]

@Wannabe yeah I hear you I have never before been so worried. I'm gonna watch blitz videos now think, cuz i have a headache from multiple choice that i keep getting many wrong. i wish i could say the audio helps me a lot but it helped me in just a few small areas, guess i have to listen more carefully. some concepts are very confusing

FAR - 62 , End of aug 2015
BEC - 67, 67
AUD - TBD
REG - TBD

[Zackrampage]

@Wannabe yeah I hear you I have never before been so worried. I'm gonna watch blitz videos now think, cuz i have a headache from multiple choice that i keep getting many wrong. i wish i could say the audio helps me a lot but it helped me in just a few small areas, guess i have to listen more carefully. some concepts are very confusing

FAR - 62 , End of aug 2015
BEC - 67, 67
AUD - TBD
REG - TBD

[Zackrampage]

Anyone know if its possible to download blitz videos to android?

FAR - 62 , End of aug 2015
BEC - 67, 67
AUD - TBD
REG - TBD

[Author]

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