[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

[jasonrobbins]

@ smsingla

I'm pretty sure that both of those changes would be handled prospectively (which would also have a current I/S impact).

Arn't those changes in estimate?

AUD- 97 1x
REG- 81 1x
BEC- 79 1x
FAR- 88 1x

DONE!

10/1/12 to 2/28/14

[jasonrobbins]

@ smsingla

I'm pretty sure that both of those changes would be handled prospectively (which would also have a current I/S impact).

Arn't those changes in estimate?

AUD- 97 1x
REG- 81 1x
BEC- 79 1x
FAR- 88 1x

DONE!

10/1/12 to 2/28/14

[smsingla]

@jason, yes these r changes in estimate, I by mistake said principle. sorry about tht

But if we are given options of both current income and prospective treatment, shouldn't we choose prospective treatment. But wiley some how is choosing current income over prospective treatment

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[smsingla]

@jason, yes these r changes in estimate, I by mistake said principle. sorry about tht

But if we are given options of both current income and prospective treatment, shouldn't we choose prospective treatment. But wiley some how is choosing current income over prospective treatment

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[Guti]

Do you guys know how to check an answer as you go through the questions using Becker’s 2014 progress test?

FAR-84
AUD-
REG-
BEC-

[Guti]

Do you guys know how to check an answer as you go through the questions using Becker’s 2014 progress test?

FAR-84
AUD-
REG-
BEC-

[Anonymous]

@smsingla–I can't figure out why they don't include the land purchased for $350,000. I think it must have something to do with the statement “potential future building site” but I can't find any explanation for that in looking back at the chapter. I hope someone else on here is using Wiley and can explain it to us.

[Anonymous]

@smsingla–I can't figure out why they don't include the land purchased for $350,000. I think it must have something to do with the statement “potential future building site” but I can't find any explanation for that in looking back at the chapter. I hope someone else on here is using Wiley and can explain it to us.

[Anonymous]

Someone posted this in a seperate thread, but I think it could benefit all of us. Governmental JEs

https://sites.google.com/site/farnotes/gas-34/journal-entries–fund-based-vs-government-wide

[Anonymous]

Someone posted this in a seperate thread, but I think it could benefit all of us. Governmental JEs

https://sites.google.com/site/farnotes/gas-34/journal-entries–fund-based-vs-government-wide

[smsingla]

@cpamommy, thanks for trying.

Also can you check on page 1040, as i posted above, why they r not choosing prospective treatment for change in accounting estimate and why they are choosing current income instead

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[smsingla]

@cpamommy, thanks for trying.

Also can you check on page 1040, as i posted above, why they r not choosing prospective treatment for change in accounting estimate and why they are choosing current income instead

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[Anonymous]

IMO current income and prospective treatment are the same thing. You are changing the current income, but you are also changing future periods' income by using the new estimate. I think prospective would have been a better word choice. Do you have an email for Wiley to ask questions? I think that would be a good email to send off to them because it is not clear why they would even have a “current income” option as an accounting treatment.

[Anonymous]

IMO current income and prospective treatment are the same thing. You are changing the current income, but you are also changing future periods' income by using the new estimate. I think prospective would have been a better word choice. Do you have an email for Wiley to ask questions? I think that would be a good email to send off to them because it is not clear why they would even have a “current income” option as an accounting treatment.

[Anonymous]

Thanks Zackrampage! Tomorrow I'll be posting my experience if I'm not too shaken up by it =P

[Author]

Replies