[Q1] FAR Study Group 2014 - Page 45

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  • January 11, 2014 at 9:18 pm #526026
    MassCPA2014
    Member

    @Cracked, looking at that problem, gain would be recognized because you ARE using the >25% rule. You're giving $10,000 in cash, and an asset that has a FV of $3,000, which means the $ given is equal to 77% (10,000/13,000) of the total FV given up.

    In that case, it becomes a monetary exchange, and the price of the truck received is equal to the fair value given up, which would be $13,000.

    FAR: 86
    AUD: 88
    REG: 85
    BEC: 84
    DONE!

    January 11, 2014 at 9:18 pm #526087
    MassCPA2014
    Member

    @Cracked, looking at that problem, gain would be recognized because you ARE using the >25% rule. You're giving $10,000 in cash, and an asset that has a FV of $3,000, which means the $ given is equal to 77% (10,000/13,000) of the total FV given up.

    In that case, it becomes a monetary exchange, and the price of the truck received is equal to the fair value given up, which would be $13,000.

    FAR: 86
    AUD: 88
    REG: 85
    BEC: 84
    DONE!

    January 11, 2014 at 9:21 pm #526028
    MassCPA2014
    Member

    Any advice for how I can continue to be productive while also watching football in the next day?

    3 days until the test and I'm beginning to get mid to high 80s on 30 question progress tests on Becker. Taking the final comprehensive practice test tomorrow, and other than the MCQ and reviewing the simulations, I've just been skimming and scanning the book. Nervous, but at this point, I think I know what I know, and I'm not going to soak in too much more. My brain is starting to feel fried from all the hours I put in this week, and I want to be sure I don't overdo it the last few days while at the same time making sure I'm focused.

    FAR: 86
    AUD: 88
    REG: 85
    BEC: 84
    DONE!

    January 11, 2014 at 9:21 pm #526089
    MassCPA2014
    Member

    Any advice for how I can continue to be productive while also watching football in the next day?

    3 days until the test and I'm beginning to get mid to high 80s on 30 question progress tests on Becker. Taking the final comprehensive practice test tomorrow, and other than the MCQ and reviewing the simulations, I've just been skimming and scanning the book. Nervous, but at this point, I think I know what I know, and I'm not going to soak in too much more. My brain is starting to feel fried from all the hours I put in this week, and I want to be sure I don't overdo it the last few days while at the same time making sure I'm focused.

    FAR: 86
    AUD: 88
    REG: 85
    BEC: 84
    DONE!

    January 11, 2014 at 10:05 pm #526030
    Anonymous
    Inactive

    Thanks Mass. The way you explained makes sense. I had thought that the 25% rule only applies when you receive cash, not pay. It seems that's not the case.

    January 11, 2014 at 10:05 pm #526091
    Anonymous
    Inactive

    Thanks Mass. The way you explained makes sense. I had thought that the 25% rule only applies when you receive cash, not pay. It seems that's not the case.

    January 13, 2014 at 5:33 pm #526032
    teeteenounouche
    Member

    @CPA Dilemma did you make your decision yet? Are also planning to take AUD in Feb? With the workload you described, maybe you should postpone FAR until Feb and take AUD in April/May? Since you have already started studying and need additional time to do MCQs…

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    January 13, 2014 at 5:33 pm #526093
    teeteenounouche
    Member

    @CPA Dilemma did you make your decision yet? Are also planning to take AUD in Feb? With the workload you described, maybe you should postpone FAR until Feb and take AUD in April/May? Since you have already started studying and need additional time to do MCQs…

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    January 13, 2014 at 5:35 pm #526034
    teeteenounouche
    Member

    I met my study goal for last week, yay 🙂 hoping to do the same this week but family trip planned and I will feel bad if I cancel it…going to try and sneak in reading and writing notes somehow…

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    January 13, 2014 at 5:35 pm #526095
    teeteenounouche
    Member

    I met my study goal for last week, yay 🙂 hoping to do the same this week but family trip planned and I will feel bad if I cancel it…going to try and sneak in reading and writing notes somehow…

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    January 13, 2014 at 9:02 pm #526036
    WANNABE_CPA
    Member

    Hey guys…count me in too..i think i am pretty late for this group but just the course material and lectures are not enough to get to understand few things while solving problems and just a little help from fellow strugglers 😉 would be great…

    I am taking FAR 2nd and hopefully last time on the 10th Feb and still have alot of stuff to get comfortable with.

    I am new to the forum and hope can get help and be help to you all too 🙂

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

    January 13, 2014 at 9:02 pm #526097
    WANNABE_CPA
    Member

    Hey guys…count me in too..i think i am pretty late for this group but just the course material and lectures are not enough to get to understand few things while solving problems and just a little help from fellow strugglers 😉 would be great…

    I am taking FAR 2nd and hopefully last time on the 10th Feb and still have alot of stuff to get comfortable with.

    I am new to the forum and hope can get help and be help to you all too 🙂

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

    January 13, 2014 at 10:24 pm #526038
    Anonymous
    Inactive

    I'm new to the study group and am just starting my FAR studies. I don't think I can be ready during this session so I will take it at the beginning of April. I took the holidays off after passing AUD because I needed the break and now I'm ready to dive back in to studying. I just received my books today and got my WTB pin. The amount of material for FAR is so overwhelming!! Good luck to all taking the exam in the next few days!

    January 13, 2014 at 10:24 pm #526099
    Anonymous
    Inactive

    I'm new to the study group and am just starting my FAR studies. I don't think I can be ready during this session so I will take it at the beginning of April. I took the holidays off after passing AUD because I needed the break and now I'm ready to dive back in to studying. I just received my books today and got my WTB pin. The amount of material for FAR is so overwhelming!! Good luck to all taking the exam in the next few days!

    January 13, 2014 at 11:28 pm #526040
    lvr21
    Member

    I NEED help!

    I have no motivation… I had two extra hours to study and I couldn’t make myself do study. I'm VERY behind on my schedule.

    I have to pass financial this go around. I want to pass financial this time, but I just can't study. I just stare at my computer screen …

    Any motivational speakers out there tonight?

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

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