[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

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

[Melans]

Going back and reading and taking notes is such a slow process for me. … I wish there was a faster way.

AUD 7/30/12 73; 12/2/13 85
BEC 7/19/13 81
REG 8/2/14 83
FAR - Jan 2015

[HopefulCPA0601]

3 week final review in progress. purchased ninja mcq and am doing questions until my head bursts. ahhhh

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

[Anonymous]

@ hopefulcpa im right there with you. FAR is my last test. have taken it several times and usually score around 70. havent been able to get over the hump. using becker and still working my way through the material. only on F5 right now and have it schedule for 8/29. it kind of stresses me out knowing i have 5 sections to go, but i try to take my time to make sure im learning the concepts as well.what do you think of the wiley test bank and ninja mcq with becker?

[sstephenson]

@dsteele139, I am taking it on 8/29 and I am wrapping up F5 today. I have only sat for FAR once and it was brutal! Curious how people feel about mixing Wiley & Ninja MCQ with Becker. I am doing good just to stay caught up on Becker's material!

REG - 75
BEC - 76
AUD - 76
FAR - 84, DONE 11/9/14!

[jeff]

Some Free BLITZ videos to check out today when you have time:

https://www.another71.com/ninja-blitz/

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

[Anonymous]

Is there any quick way to easily calculate or remember how to calculate sum of the years digit and double decline methods of depreciation. I can't for the life of me get these in my head. They are so confusing to me for some reason!!!

[HopefulCPA0601]

@dsteele – we can do this!! You are half way through the info with a little over a month left to review!! Keep pushing through it!

@CPA2014Dream – if you write out the formula enough it will stick

n=years

DDB: 2 x 1/n x Cost

*do not subtract out salvage value, just depreciate down to it

SYD: numerator is years left, denominator is sum of all years so 5 years asset, in its 2nd year

4/(5+4+3+2+1) x (book – salvage)

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

[Anonymous]

thanks @Hopeful!

[HopefulCPA0601]

@dsteele – i felt the wiley questions were pretty good, i finished them with a 72% average. I just started ninja, they are really quick to get through. Also, ninja groups the questions how the test is grouped when you get your score report that shows if you scored weaker, comparable or stronger. I think that helps if you had a particular area you were weaker on before. Then the 2 days before the exam i am using all of my becker outlines/notes/flashcards and the aicpa released questions to review and rewrite

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

[Anonymous]

@sstephenson good luck to you sir and hopfully we will both be CPA's here shortly. Were just now getting to the fun topics in becker lol

@hopefulcpa i might consider using wiley just to see some different questions and try and find some time to just cram some in. im a little worried that i am just now getting into leases bonds and all that jazz. has been the hardest topics for me while still trying to retina all of the other material. its kind of ridiculous the amount of material for FAR compared to the other sections right? lol best of luck!

[D C]

@dsteele139

Sum of Years digits = n*(n+1) / 2 n=useful life ex. 4 years useful life 4*5 =20 / 2 = 10…

then each year multiply BV *4/10, next year 3/10, next year 2/10, etc…

*don't subtract salvage value from hist. cost

DDB = 100%/n = % X 2 to multiple cost of asset by.. ex. 10 year useful live 100%/10 = 10% *2 = 20% each year.

*use same depreciable basis each year

Pretty much what was said before just a little different way to look at it.

B - 80
A - 71, 67, 77
R - 71, 77
F - 72, 77
DONE!!
Becker Self-study all the way! Did use Ninja Notes & Audio for FAR.

[LavishgirlCPA]

So who actually is cramming now? I wasn't studying for few weeks straight and my exam is on Tuesday. I dont know if I am fooling myself that I can learn all that I need to pass the exam. What do you guys think?

[LavishgirlCPA]

I passed Reg which is going to expire in Feb so i am just gambling….

[Anonymous]

On January 1, Year 1, Babson, Inc. leased two automobiles for executive use. The lease requires Babson to make five annual payments of $13,000 beginning January 1, Year 1. At the end of the lease term, December 31, Year 5, Babson guarantees the residual value of the automobiles will total $10,000. The lease qualifies as a capital (finance) lease. The interest rate implicit in the lease is 9%. Present value factors for the 9% rate implicit in the lease are as follows:

For an annuity due with 5 payments – 4.240

For an ordinary annuity with 5 payments – 3.890

Present value of $1 for 5 periods – 0.650

Babson's recorded capital (finance) lease liability immediately after the first required payment should be:

a. $31,070

b. $44,070

c. $48,620

d. $35,620

Answer is C. How come they use annuity due vs ordinary annuity?

[LavishgirlCPA]

Esther, annuitty due was used because the payment was made in the beginning of the month (period), if it had stated that the payments were made December 31st then it would have been ordinary annuity (at the end of the period).

[Author]

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