[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

[stoleway]

@Amor D

I believe you have to recognise the increase in FV as unrealised gain in OCI

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[stoleway]

@Amor D

I believe you have to recognise the increase in FV as unrealised gain in OCI

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[Anonymous]

Thanks.

So Stoleway, from I/S, the (new) unrealized gain will move to OCI, right?

[Anonymous]

Thanks.

So Stoleway, from I/S, the (new) unrealized gain will move to OCI, right?

[stoleway]

Youve already accounted for the loss in the prior year income statement, so you need to forget about that loss and move on. so in the current year any increase in FV will be credited to OCI.

If the loss in the prior year was not an impairment but a temporary loss, then you would have recognise it as unrealised loss in OCI, subsequent increase in FV will reduce the amount of loss you had in the prior year, this is recorded by a credit to AOCI

I stand to be corrected since we are all learning:)

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[stoleway]

Youve already accounted for the loss in the prior year income statement, so you need to forget about that loss and move on. so in the current year any increase in FV will be credited to OCI.

If the loss in the prior year was not an impairment but a temporary loss, then you would have recognise it as unrealised loss in OCI, subsequent increase in FV will reduce the amount of loss you had in the prior year, this is recorded by a credit to AOCI

I stand to be corrected since we are all learning:)

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[RachelCPA]

I took FAR back in early February and I just found out I passed!!! So I wanted to share something I did this time around that really helped me. During my review weeks using Becker, I took 30 question progress tests on each lecture. Once I saw my results, I wrote down the reasoning behind why I got each one wrong. Then I took progress tests for 2 lectures at a time. So I did one for F1-F2, F3-F4, F5-F6,F7-F10 and F8-F9. I tried to keep Gov't and NFP together 🙂 Then I took a few tests on all of the lectures. This really helped me mix up the questions and see which areas I was struggling with for my last minute review. I hope this helps!! Good luck to all!

AUD: 71, 76
BEC: 69, 80
FAR: 72, 78!!!!
REG: 5/30/2014

[RachelCPA]

I took FAR back in early February and I just found out I passed!!! So I wanted to share something I did this time around that really helped me. During my review weeks using Becker, I took 30 question progress tests on each lecture. Once I saw my results, I wrote down the reasoning behind why I got each one wrong. Then I took progress tests for 2 lectures at a time. So I did one for F1-F2, F3-F4, F5-F6,F7-F10 and F8-F9. I tried to keep Gov't and NFP together 🙂 Then I took a few tests on all of the lectures. This really helped me mix up the questions and see which areas I was struggling with for my last minute review. I hope this helps!! Good luck to all!

AUD: 71, 76
BEC: 69, 80
FAR: 72, 78!!!!
REG: 5/30/2014

[Anonymous]

Please help me, I am lost with FC Translation.

Let's say we have a parent company here in the US manufacturing V-Drugs. Let's say we have a plant in Japan.

So what's functional currency, local currency and reporting currency of where?

[Anonymous]

Please help me, I am lost with FC Translation.

Let's say we have a parent company here in the US manufacturing V-Drugs. Let's say we have a plant in Japan.

So what's functional currency, local currency and reporting currency of where?

[TaRenee]

Hi Everyone! I am back home from my test… and let me just say….. STUDY THE SIMS (Becker) YOU will help yourself out a lot.

Overall, I didn't think the test was bad at all…. nor were my sims! There were two that I had NO IDEA on but that others were fairly comparable to the Becker sims.

My multiple choice was more conceptual then computation!

I guess I will find out next Friday how I did! Good luck to everyone….. oh … and STUDY THE SIMS 🙂

REG [75] 02.27.13(1)
AUD [82] 04.15.13(1)
BEC [79] 05.29.13(1)
FAR [62] 08.26.13(1) [76] 02.24.14(2) - God is able!!! 🙂

Licensed NC CPA

[TaRenee]

Hi Everyone! I am back home from my test… and let me just say….. STUDY THE SIMS (Becker) YOU will help yourself out a lot.

Overall, I didn't think the test was bad at all…. nor were my sims! There were two that I had NO IDEA on but that others were fairly comparable to the Becker sims.

My multiple choice was more conceptual then computation!

I guess I will find out next Friday how I did! Good luck to everyone….. oh … and STUDY THE SIMS 🙂

REG [75] 02.27.13(1)
AUD [82] 04.15.13(1)
BEC [79] 05.29.13(1)
FAR [62] 08.26.13(1) [76] 02.24.14(2) - God is able!!! 🙂

Licensed NC CPA

[rvcpa]

Scared that I am kind of excited to take this exam. I feel ok but not over confident. I think I am just eager to get revenge against FAR.

[rvcpa]

Scared that I am kind of excited to take this exam. I feel ok but not over confident. I think I am just eager to get revenge against FAR.

[lvr21]

How crazy is it that some of us haven't sit for our test yet, and we should find out our scores (if in a NASBA state) next Friday?!

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

[Author]

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