[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]

@jstay – do as many as you can obviously but also make sure you dont get focused on getting 100 questions done per day and rush through the questions instead of retain the information.

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

[HopefulCPA0601]

its not even my score release day and my stomach is in knots for all of the people waiting for their scores.

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]

@Hopeful — I'm feeling the exact same way. I almost took FAR 7/19 (right before the cutoff) so today would have been me going crazy. Instead it'll be next score release on 8/21 that I'm going crazy.

I so want to take FAR tomorrow but have to wait until Monday. Moderately working MCQs today and tomorrow. Sunday just glancing over material so my eyes might catch a JE or maybe a phrase or something that I can get that last photo in my short term memory before I hit the exam.

[HopefulCPA0601]

@bobcat87 – good luck!! i'll be waiting at score release with you on 8/21

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

[Melans]

It is official – FAR is my last test. To celebrate today, and then game face.

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

[HopefulCPA0601]

@melans – congrats!!

question for the group: Which of the following fund types of a governmental unit have the income determination orientation?

answers are general, fiduciary, both or neither

what does income determination orientation even mean??? does that mean cash inflow is modified cash basis?

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]

Fiduciary

The measurement focus in governmental accounting is on the sources and uses of financial resources. In business enterprise accounting the focus is on income determination (i.e. net income).

The governmental fund financial statements, however, report what is commonly referred to as current financial resources on a modified accrual basis. Whereas full accrual contains all inflows and outflows of economic resources, short- and long-lived assets, and short- and long-term liabilities, the governmental fund financial statements generally have a short-run perspective.

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

[HopefulCPA0601]

@ahugemistake: the answer is Neither

The measurement focus of the general fund and other governmental-type funds is flow of current financial resources. This focus provides a measure of the change in current financial resources. The measurement focus of trust funds, including fiduciary funds, is economic resources. The purpose of measurement is change in trust net position reported as additions and deductions. Net income is not determined for governmental or fiduciary fund types.

The funds that have an orientation of accounting and reporting related to income determination are the proprietary funds..

I REALLY do not like that wording at all.

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]

I should have stuck to my gut feeling but for some reason I decided to link the full accrual with the income determination. But you're right, it makes more sense for the proprietary funds to have the income determination focus, ugh, that wording did confuse the heck out of me though.

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

[Anonymous]

I had my exam scheduled for 08/09, then I freaked out and rescheduled to 08/31. Today I rescheduled it again to 08/15 and will have to drive 35 miles to RI because all MA centers around me were full. How stupid is that

[jpowell31]

WTF.

My notes specifically say that no motive for income determination for any governmental fund so i would think fiduciary as well at first look.

[jpowell31]

well i have to fly to the US to take it @ anjanja.

when i went to sit for my second attempt at audit, hurricane sandy hit and all the centers closed and i spent 2 days of what should've been vacation after the exam convincing them to let me reschedule my last day in the country (they usually say they'll let you know when you will be rescheduled). i was exhausted and annoyed. and failed with a 74….

it could be worse 🙂

[tomq04]

@ jpowell31

wow… way to keep your chin up!

:notworthy:

REG- (1) 76
FAR- (2) 64, (5)74, (7)83 (Over achiever!)
AUD- (3) 70, (4) 75
BEC- (6) 75

[Anonymous]

where are you? Don't they have international locations?

But yeah, I guess your hurricane adventure sounds little extreme

[jstay]

ugh!, review didn't go as planned today. only got through the 79 business combination questions and didn't evens start the derivative hedges that i wanted too. so frustrated cause i thought i would have done better, got like 50 out of 79 right =/

but instead of just going to derivative hedges, i wrote in a notebook all the ones i got wrong in the combination section, so hopefully i don't make those stupid mistakes on the exam

i'll probably spend the rest of the night cruising through the Q2 FAR study group

taking 8/31 and took off the 3 weeks before the exam, hopefully that is enough

[Author]

Replies