[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

[zieba]

I have FAR on 2/26… leaving for a business trip tomorrow and will be back Friday, from there it's just a few short days. I've thought about reading notes long and hard… I thought about how to best approach it this time and I've chosen to just hit Wiley Test Bank over and over and read the answers and hit the MCQ over and over. Last time I did Becker during the run up and reading notes but I felt that if you don't know HOW it is being asked knowing the concept is only half the battle. I actually shied away from doing Becker after being frustrated by how much harder they were than the Becker MCQ.

So… WTB online, 1-1.25K more questions on top of what I already did and a notebook with “nuggets” on what I didn't understand.

Aside from airplane time, when I will read my review notes, I will focus solely on WTB. I hope this strategy pays off – I feel like it will – I am getting 80's on my better WTB sections (nfp, govt, consolid, pships, error, basic concepts, fx) and 50's on my worst ones (bonds, pensions). I am shocked by how little I knew last time around, and I feel like this has to be a good thing come exam time.

I have thousands of Becker notes scattered in piles around my apartment. They're just laying there all highlighted up and stuff, but I think I'm going to put them away in a box and just keep my Becker final review notes. I keep telling myself I will dive back into the detail but I don't see any reason to spend 2 hours reading through a chapter when I could do 100MCQ and get every conceivable “look” on how the test will be angled towards the same, and which pertinent pieces they're fishing for.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[zieba]

I have FAR on 2/26… leaving for a business trip tomorrow and will be back Friday, from there it's just a few short days. I've thought about reading notes long and hard… I thought about how to best approach it this time and I've chosen to just hit Wiley Test Bank over and over and read the answers and hit the MCQ over and over. Last time I did Becker during the run up and reading notes but I felt that if you don't know HOW it is being asked knowing the concept is only half the battle. I actually shied away from doing Becker after being frustrated by how much harder they were than the Becker MCQ.

So… WTB online, 1-1.25K more questions on top of what I already did and a notebook with “nuggets” on what I didn't understand.

Aside from airplane time, when I will read my review notes, I will focus solely on WTB. I hope this strategy pays off – I feel like it will – I am getting 80's on my better WTB sections (nfp, govt, consolid, pships, error, basic concepts, fx) and 50's on my worst ones (bonds, pensions). I am shocked by how little I knew last time around, and I feel like this has to be a good thing come exam time.

I have thousands of Becker notes scattered in piles around my apartment. They're just laying there all highlighted up and stuff, but I think I'm going to put them away in a box and just keep my Becker final review notes. I keep telling myself I will dive back into the detail but I don't see any reason to spend 2 hours reading through a chapter when I could do 100MCQ and get every conceivable “look” on how the test will be angled towards the same, and which pertinent pieces they're fishing for.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[zieba]

TO: PIA ACH

I was equally frustrated, reading, highlighting yet still missing the “angles” they slid your way come exam time. I find that doing repeat Wiley Test Bank MCQ's reveals all these looks. You can choose one or more out of 19-20 topics to zero in on what you want repetitions on. For me, this exam will be an experiment and testament to the effectiveness of WTB.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[zieba]

TO: PIA ACH

I was equally frustrated, reading, highlighting yet still missing the “angles” they slid your way come exam time. I find that doing repeat Wiley Test Bank MCQ's reveals all these looks. You can choose one or more out of 19-20 topics to zero in on what you want repetitions on. For me, this exam will be an experiment and testament to the effectiveness of WTB.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[Zackrampage]

Does anyone have a good way to memorize finding impairment loss under ifrs. such a long formular.

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

[Zackrampage]

Does anyone have a good way to memorize finding impairment loss under ifrs. such a long formular.

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

[HopefulCPA0601]

@zackrampage – impairment loss IFRS

Carry Value – Recoverable Amount

Recoverable amount is greater of

1) fair value – cost to sell

2) value in use

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 – impairment loss IFRS

Carry Value – Recoverable Amount

Recoverable amount is greater of

1) fair value – cost to sell

2) value in use

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]

Question – do stock dividends and split have income statement impact? I thought they did not but just read that stock dividends reduce retained earnings and increase your common stock. I thought net income (which is on your income statement) is closed out to retained earnings at the end of the year. Why isn't income statement affected? Am I overthinking this?

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]

Question – do stock dividends and split have income statement impact? I thought they did not but just read that stock dividends reduce retained earnings and increase your common stock. I thought net income (which is on your income statement) is closed out to retained earnings at the end of the year. Why isn't income statement affected? Am I overthinking this?

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

[samdiegoCPA]

They don't have I/S impact. Splits are just increasing number and decreasing price. You just answered your questions about dividends! It just reduces RE and NI is closed out *to* RE, so it doesn't involve the I/S. I'll see if I can find a proper explanation in my notes.

My Question: What's the diff between Appropriations and Encumbrances?!

AUD: 84
REG: 84
BEC: 79
FAR: 83

[samdiegoCPA]

They don't have I/S impact. Splits are just increasing number and decreasing price. You just answered your questions about dividends! It just reduces RE and NI is closed out *to* RE, so it doesn't involve the I/S. I'll see if I can find a proper explanation in my notes.

My Question: What's the diff between Appropriations and Encumbrances?!

AUD: 84
REG: 84
BEC: 79
FAR: 83

[HeartsMimiCPA]

The way I see it, someone please correct me if I'm wrong:

Appropriations are what you budget. (I'll spend about 10k on a car this year)

Encumbrances are your estimate of the cost (ok I found a car, I ordered it and they say it'll be 9k)

Expenditure actual cost (I got the car and the invoice came to only 8500)

AUD - 65, 89!
REG - 70, 89!
FAR - 78!
BEC - 77!

Finally!
Experience 06/30/15
Ethics-Done

VA Licensed 09/15/15

[HeartsMimiCPA]

The way I see it, someone please correct me if I'm wrong:

Appropriations are what you budget. (I'll spend about 10k on a car this year)

Encumbrances are your estimate of the cost (ok I found a car, I ordered it and they say it'll be 9k)

Expenditure actual cost (I got the car and the invoice came to only 8500)

AUD - 65, 89!
REG - 70, 89!
FAR - 78!
BEC - 77!

Finally!
Experience 06/30/15
Ethics-Done

VA Licensed 09/15/15

[samdiegoCPA]

Makes perfect sense, thank you! I knew they were similar ish but my notes didn't have the difference til now.

AUD: 84
REG: 84
BEC: 79
FAR: 83

[Author]

Replies