[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

[Anonymous]

@smsingla–My kids had a sleepover with my parents on Saturday night and they watched them half of the day on Sunday. My husband took them to the park for the second half of Sunday. This is how I get through studying and working full time. The kids get lots of Nana/Papa and Daddy time without me. It's not ideal, but it's what I have to do to be able to take these tests without studying after they go to sleep for 5 months per test. I still study after they go to sleep, but only for a couple of hours. I couldn't manage more than that and still function at work everyday.

[Zackrampage]

@amay Jeff does a great job explaining fund balances. In my opinion better than my becker lectures. Bonds are a killer. But I hope I will now remember that when I am asked find an unamortized gain I will know to add the jnamortized premoim to the face value amd then subtract (face x premium pct). Hopefully when I do some mcq and see that it will stick!

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

[Zackrampage]

@amay Jeff does a great job explaining fund balances. In my opinion better than my becker lectures. Bonds are a killer. But I hope I will now remember that when I am asked find an unamortized gain I will know to add the jnamortized premoim to the face value amd then subtract (face x premium pct). Hopefully when I do some mcq and see that it will stick!

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

[Zackrampage]

So I understand that assets are tested for impairment by comparing undiscounted future cashflows (or something like that?) To the carrying value and if its less you take fv minus cv to find tue impairment. But when testing goodwill for impairment I get lost. For good will its carrying value vs fv to test? And then assets and liab minus total reporting unit? If someone can explain this whole thing id appreciate it!

Also, whats deal with dling this all under ifrs. Jeff doesnt mention this but isnt it something about CGU? Becker mentioned in f2 but I forgot lol.

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

[Zackrampage]

So I understand that assets are tested for impairment by comparing undiscounted future cashflows (or something like that?) To the carrying value and if its less you take fv minus cv to find tue impairment. But when testing goodwill for impairment I get lost. For good will its carrying value vs fv to test? And then assets and liab minus total reporting unit? If someone can explain this whole thing id appreciate it!

Also, whats deal with dling this all under ifrs. Jeff doesnt mention this but isnt it something about CGU? Becker mentioned in f2 but I forgot lol.

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

[Tootsie]

Hi guys, I recently started my final review for FAR. I am slaying the beast on 2/27. I finished chapter 1 and am feeling really good about it. I thought I would have trouble remembering chapter 1, as I completed it last October, but I actually retained a lot of the info, yay! There is so much material; I know I won't remember everything but knowing the key concepts will help I think. Oh, and since I have been teaching financial accounting, I have been able to retain info better and really improve my journal entry skills. I have also been tutoring students with financial accounting and other areas of accounting. I have been so much happier since I started teaching. Good luck to all and see you on score release day!

FAR - 76
AUD - 88!!! DONE!!!!!!!!
BEC - 76
REG - 77

never, never, never give up

[Tootsie]

Hi guys, I recently started my final review for FAR. I am slaying the beast on 2/27. I finished chapter 1 and am feeling really good about it. I thought I would have trouble remembering chapter 1, as I completed it last October, but I actually retained a lot of the info, yay! There is so much material; I know I won't remember everything but knowing the key concepts will help I think. Oh, and since I have been teaching financial accounting, I have been able to retain info better and really improve my journal entry skills. I have also been tutoring students with financial accounting and other areas of accounting. I have been so much happier since I started teaching. Good luck to all and see you on score release day!

FAR - 76
AUD - 88!!! DONE!!!!!!!!
BEC - 76
REG - 77

never, never, never give up

[lvr21]

@CPA mommy good job on 12 hours!! wow!

@amay … I think @sm did a great job explaining it and @Zack is right .. Jeff does a wonderful job too!

Let me try to explain it using a city for an example…

Restricted: A grant from the feds for police equipment. An outside source has said you CAN'T spend the money on anything EXCEPT police equipmen.t

Committed: The city council says let's put back XX amout of dollars for a new playground. That money can not be used for anything but a new playgroud UNLESS the city council votes to change it. The mayor can't just walk in one day and say hey let's use that money that is set aside for a new playground for a fire truck without voting on it by the city council

Assigned: It is more like the major and the treasurer getting together and saying hey lets plan to use this money for a new computer systems.. They plan to use the money for that computer system, but if something comes up and they decided to use it for something else it isn't that big of deal…

Unassigned: Everything that isn't restricted, committed, or assigned! Usually only in the general fund…

Hope that helps! Sorry for typo's two of my letters are stuck on my keyboard….

{R: PASSED!! (I passed one!)}
{B: PASSED!! (Halfway there!)}
{F: PASSED!! (1 left!!!)}
{A: PASSED(I am done!!)}

[lvr21]

@CPA mommy good job on 12 hours!! wow!

@amay … I think @sm did a great job explaining it and @Zack is right .. Jeff does a wonderful job too!

Let me try to explain it using a city for an example…

Restricted: A grant from the feds for police equipment. An outside source has said you CAN'T spend the money on anything EXCEPT police equipmen.t

Committed: The city council says let's put back XX amout of dollars for a new playground. That money can not be used for anything but a new playgroud UNLESS the city council votes to change it. The mayor can't just walk in one day and say hey let's use that money that is set aside for a new playground for a fire truck without voting on it by the city council

Assigned: It is more like the major and the treasurer getting together and saying hey lets plan to use this money for a new computer systems.. They plan to use the money for that computer system, but if something comes up and they decided to use it for something else it isn't that big of deal…

Unassigned: Everything that isn't restricted, committed, or assigned! Usually only in the general fund…

Hope that helps! Sorry for typo's two of my letters are stuck on my keyboard….

{R: PASSED!! (I passed one!)}
{B: PASSED!! (Halfway there!)}
{F: PASSED!! (1 left!!!)}
{A: PASSED(I am done!!)}

[Guti]

Si gla and sack , I understand how you come up with a tentative gain, but no gain should be recognized if cash is given. Only when is received.

FAR-84
AUD-
REG-
BEC-

[Guti]

Si gla and sack , I understand how you come up with a tentative gain, but no gain should be recognized if cash is given. Only when is received.

FAR-84
AUD-
REG-
BEC-

[rvcpa]

finished all the questions on the wtb once with a 72 average. time to do the ones I got wrong all over again.

[rvcpa]

finished all the questions on the wtb once with a 72 average. time to do the ones I got wrong all over again.

[Tncincy]

Do you flag the ones that are wrong? How do you keep up with the ones you get wrong I guess is what I am asking. I think I clear out my answers when I am done. But I think that's a good idea though, why keep doing the ones that are correct.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Tncincy]

Do you flag the ones that are wrong? How do you keep up with the ones you get wrong I guess is what I am asking. I think I clear out my answers when I am done. But I think that's a good idea though, why keep doing the ones that are correct.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Author]

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