[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

[HopefulCPA0601]

@jpowell31 – that doesnt make sense to me because DRD is a perm so there would be no deferred on it. And I have no seen any questions on taking drd on your equity in an investment.

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

[ahugemistake]

jpowell, I'm really curious as to how you got the answer, mind posting a screen shot of the table?

FAR - 78*
AUD - 66, 79
REG - 73, 76
BEC - 79

[ahugemistake]

I'm actually more confused by the 180k number, is that their share of Flame's net income?

FAR - 78*
AUD - 66, 79
REG - 73, 76
BEC - 79

[Anonymous]

The way Roger explained it, the share of income under the equity method is considered a future dividend that will eventually be received. You subtract DRD portion and whatever is left is a temporary difference

[HopefulCPA0601]

but im confused because there is no dividend income under the equity method. dividends just reduce your investment.

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]

yeah but you still get the cash, it's accounted for under cash basis for tax purposes, right? I am not really sure, I remember 0 information from my taxation class

[pnielsen1982]

I was supposed to take FAR today, but I rescheduled it for August 10th. I seriously don't think I can put more information in my brain, though. If I don't pass this exam….. I can't even think about it. The thought of studying for this section again makes me want to not be a CPA.

I hope everyone else is having a better FAR study experience!!

CA licensed CPA

AUD - 08/31/13 - 84
BEC - 11/26/13 - 84
FAR - 08/10/14 - 85
REG - 11/30/14 - 72, 02/20/15 - 87

What have I gotten myself into?

[Anonymous]

@pnielsen1982 keep your head up. Stay confident and just give it your best shot every time your studying and think about what it will feel like to have FAR out of the way. We can do it

[jpowell31]

can someone tell me how to post screen shots? i can't actually paste screen shots in here, and becker won't let you copy text… @Hopeful – that's what i'm saying. I just don't remember that case…it is the only example i have on it so the chance is unlikely it'll up come but if it's something i don't understand it'll DEFINITELY come up.

@pnielsen – i am ready to cram for these next two weeks but if i don't pass i lose AUD and have to retake both (and i took AUD 3 times). i will be nothing short of devastated. this is a beast, though. as soon as something sticks i feel like i have to relearn another topic..i never passed an exam not going in knowing everything.. at least at a high level…tricky wording and time always trip me up. failing for me meant leaving one annoying stone unturned because i just couldn't deal with it. but there's NO WAY you can know everything on this exam and that has my anxiety levels way up –> my biggest downfall when it comes to taking exams.

[jpowell31]

…………………………………………….Book………. Tax Temp ……difference taxable in future

equity in earnings of investee 180,000 …………………..0

dividends received………………………. 0 …………..30,000

Less 80% DRD …………………(144,000)………… (24,000)

……………………….TOTAL ………36,000 MINUS…..6,000 = ………30,000 x 30% = $9,000

[jess3]

a lot of people on this forum said to just do MCQ instead of becker lecture/notes.. is that helpful? i only have ~25 days left and haven't done much because of the lectures. i'm not even sure how i would get the mcqs correct if i'm not reading the notes.. haha i'm about to buy ninja FAR mcq too.

[jpowell31]

sorry i didn't break up titles correctly again…. should be “tax” then “temp difference taxable in the future” that's what the answer is for the above DRD example. i had the income tax/deferred tax down pat 3 weeks ago and now i'm second guessing everything. still have govt, NFP and that chapter full of random bullets before the weekend is over before i can really start my version of “final review”

[jpowell31]

@jess3 i'm on my last exam now…well last section (fingers crossed)… i play the lectures and highlight as they tell you to and jump forward so that i spend about half the time on lectures. i dont listen to their extra videos or do the class questions – just watch long enough to know what they feel i should focus on. it was important for me to still follow along a bit (rather than reading the e-version alone, which has the highlights) to jumpstart my brain with words and concepts and also because my books were 2013 and lectures are 2014 version. then when i'm doing my notes or HW and it's not making sense i'll watch that portion of the lecture to see if it helps. the lectures alone end up taking like 30 hours. then i like to write my own version of notes which take just as long..that took me over a month while working full time to complete…hence having to retake the exam because i didn't have time to prepare well and wanted to take a shot before the windor my AUD expired. now i have my typed notes for this round and continuously chop away at them in between doing MCQ and listening to Ninja audio. now i've written 5 pages of formulas and tidbits

[HopefulCPA0601]

^ overall this exam blows.

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

[jpowell31]

it's my birthday today so i'm only studying for 1.5 hours after work before getting some drinks and a nice dinner. it'll feel like a whole weekend off for me. hooray.

[Author]

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