[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

[mattcpafromva]

@Elisabeth I definitely would not bank on that. If you take Becker progress tests the NFP and gov't chapters concentrate the highest percentage of any chapter. I would take this to mean that they are heavily tested. This is not good!!

BEC- 4/3- 90
AUD- 4/24- 92
REG- 5/31- 88
FAR- 7/27- 94

[Anonymous]

@ mattcpafromva (and any others preparing for FAR): I would not underestimate IFRS. I was shocked by the number of IFRS-related multiple choice questions. Granted, every test is different, but my experience was that I seriously underestimated the percentage of IFRS-related questions I was going to see. I continued to study because I was convinced that I had failed, and made a thorough IFRS vs. GAAP table. This definitely helps to clearly show the differences in accounting methods. Best of luck and hang in there: passing and having a life again is a phenomenal feeling.

Oh, and here's another tip: Don't, for the love of G-d, neglect to enter any expenses as negative figures. I had to retake AUD because I blew the SIMS portion making this idiotic mistake.

[Anonymous]

@mattcpafromva Hey, we all have to have hope. 😉 Actually, today, governmental has clicked to some extent and I can't really pinpoint why. I watched the Blitz videos over it, but I'm not sure if it was due to them or just finally enough repetitions! I'm still not 100% on it, but I understand it better than I ever have before. Hopefully you'll have a break-through soon too!

@AgentKate Thanks for the tips! I really should make an IFRS vs GAAP table…mostly because I'm concerned I'll accidentally use IFRS when I should use GAAP. 😐 And good to know that expenses need to be negative numbers. Not sure I would've thought to do that! (Might've thought the title should be good enough, but clearly not…)

[Tncincy]

Don't sweat the small stuff……

I did a lot of mcq's today and found that knowing the basics is really important. I forgot about the hierarchy's and the ifrs definitions, and installment and recovery methods. Those topics were in the very beginning of the far journey and I got a little nervous but as I did more questions I regained my memory. Lord knows I would love to look at the book during the test, but it's just a wish so don't for get about the simple stuff while nailing down bonds, leases, government, not for profit just to name a few.

Today was a great day of study…..I'm feeling more like I might just pass this thing. It's just how I feel today, but more studying tomorrow. :-))

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

[mattcpafromva]

Yeah IFRS definitely seems important, but I feel like that's more memorization and doesn't take knowing many additional complex concepts. That's why NFP and Gov't are really throwing me for a loop. The concepts are just very foreign to me!

BEC- 4/3- 90
AUD- 4/24- 92
REG- 5/31- 88
FAR- 7/27- 94

[se7en.14]

hope someone can helpo me out!

for pension cosst – if you are given both actual and expected return on plan assets in the problem, which one should you use?

Should you use expected because actual causes volatility?

Thanks,

[StephAV]

I'm trying to focus on my weak areas… And I'm having trouble staying focused. It is really frustrating. I'm contemplating taking my one year old son to a drop in care place for a few hours today and finding somewhere quiet to study.

FAR - 7/13 - 72, 11/13- 74, 2/14- 82!!! Best score ever (for me)!!!
BEC - 1/14 - 75!!! Perfect score! First Pass! YAY!!!
AUD - 8/14 - 80!!!
REG - 5/14 - 72, 10/14 - 66, 1/15 - 78 - DONE FOREVER!!!
I did 5 of the UNA and CPAExcel classes to earn units.

[Tncincy]

I was on such a roll yesterday with studying, but today I feel so lethargic…..what's going on? is it time for football? anyway I'm in for another day of mcq's and writing notes. Somehow I got to make this stick,

Testing 7/31…

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

[Tncincy]

I was on such a roll yesterday with studying, but today I feel so lethargic…..what's going on? is it time for football? anyway I'm in for another day of mcq's and writing notes. Somehow I got to make this stick,

Testing 7/31…

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

[LT-P]

@seven Expected ..

Actual is used to calculate the difference between actual and expected for Actuarial G/L in OCI.

- passed all 4 exams on my first try using Becker!

Ethics: TBD

[zakahracw]

I can't figure out why the Answer is C. A credit of $240,000

The Town of Oceanview budgeted $500,000 for the purchase of two fully equipped fire trucks during the fiscal year ended December 31, Year 1. The Town issued a purchase order for the acquisition of both trucks for a total for $480,000 on February 1, Year 1 and accepted delivery of one of the trucks, valued at $280,000 on March 31, Year 1. As a result of this delivery of one of the ordered vehicles, the Town of Oceanview General Fund would record a:

a. Debit to encumbrances for $240,000.

b. Debit to appropriations control for $280,000.

c. Credit to encumbrances for $240,000.

d. Debit to property and equipment for $280,000.

~Z

"Live your Best Life"

[LT-P]

@zakahracw there was originally a debit of $480 to the encumbrance account when the purchase order was issued for 2 trucks. When 1 of the trucks was delivered the encumbrance needs to be reversed for $240 ($480/2). The actual cost doesn't matter when reversing the encumbrance. Debit: Budgetary Control 240, Credit: Encumbrances 240.

When you record the actual expenditure you'll use the actual cost. Debit: Expenditure 280, Credit: Cash 280.

- passed all 4 exams on my first try using Becker!

Ethics: TBD

[LT-P]

Does anyone have an easy way of explaining (for Income Taxes) the Valuation Allowance and the NOLs/NOL Carryover?

- passed all 4 exams on my first try using Becker!

Ethics: TBD

[jeff]

NINJA Brent Study Update: https://www.another71.com/ninja-cpa-blogger-brent-14/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

Go to the FAR exam experience thread to see how it went…

if you're interested, that is.

Good luck to you all!

[Author]

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