[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

[ijustwant76]

Woops, the answer:

Garson should have included the goods in inventory (asset) and as ending inventory (not an expense). Title to goods shipped FOB shipping point has passed to the purchaser when the goods are in transit.

The answer was D. I dont see how it affects retained earnings if it was purchased at the end of the year. Maybe if inventory is valued as periodic, but the question doesn't state this. Anyone know? Thanks in advance.

[jstay]

D?

[jstay]

Begin inv

+ purchases

= Cost goods avail for sale

-ending inventory

= cost of goods sold

ending inventory is now lower because those items were not included. which means you have a higher cost of goods sold which means your profit is going to be less…i think..?

[Anonymous]

Excluding an amount from your ending inventory would make your COGS higher. As a result your NI –> R/E is lower as well.

[jstay]

therefore understating R.E.

[Iggy1985]

Totally freaking out right now.. I wish I could study for the next 48 hours straight… >_< but I know I need to sleep or I'll do even worse.. if only I could learn by sleeping with the book on my head or something.. oiy

FAR - 89 (8/19/14) Wiley TB, Wiley Book, Books from School, Ninja Audio/Notes
AUD - 92 (10/14/14) Wiley TB, Wiley Book, Ninja Audio
BEC - 82 (5/8/15) Mostly Ninja MCQ, sprinkles of Becker lectures and Ninja Audio
REG - (8/14/15)

[Melans]

@JT – welcome to the group. I don't know the answer to your question, but I think not much has changed, except for IFRS information. And not that IFRS information has changed, just more information added in. Again- I don't know this as fact, just guessing mostly.

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

[HopefulCPA0601]

@iggy you are prepared! do not freak out, you are going to do great. confidence if half the battle with these exams

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

[CPA50]

Iggy – put on your Batman utility belt – arm it with everything you will need tomorrow.

Bat Canister of Calm nerves? check.

Bat Rope lasso to retrieve long-hidden calculations? check.

Bat Flashlight to shine the light of truth and coherence on those dark, shadowy questions? check.

Bat Cape to help leap effortlessly from MCQ to SIM in a single bound (oops, maybe that's Superman)? check.

We can fight the Evil Joker, Two-Face and Riddler of Exams!

Who's with me?? 🙂

AUD 88 (expired), 80 retake
FAR 64,69,67,73,67,73,73,73, August 3
REG 75 (expired) September 7
BEC 72, 77

The adventure continues...

[Iggy1985]

Totally gonna think of that tomorrow.. when I get a cash flow, business combination or governmental sim and I'm like ahhh and then I'll be like wait, I'M BATMAN.

FAR - 89 (8/19/14) Wiley TB, Wiley Book, Books from School, Ninja Audio/Notes
AUD - 92 (10/14/14) Wiley TB, Wiley Book, Ninja Audio
BEC - 82 (5/8/15) Mostly Ninja MCQ, sprinkles of Becker lectures and Ninja Audio
REG - (8/14/15)

[LKD CPA]

You can do it IGGY….errrr wait, I mean Batman!!! Best of luck tomorrow! Don't forget – RTMFQ!

FAR: 74, 83
REG: 76
BEC: 77
AUD: 89

[msbond28]

Hey everyone, waiting on score for BEC but with hopeful thoughts I am moving forward with FAR which is/would be my last. May I add I need to have completed by 11/4 or lose credit for auditing. Scores will not release until Sept 10. What section do you suggest that would keep in in the BEC mode.. I pray I pass but if not, I will be keeping my mind fresh. Any suggestions?

Thanks.

B Waiting
A 76 -Ex. November 2014
R 60, 68, 76
F TBD

Yeager, Ninja Flash, Becker, Wiley Test Bank.

[Melans]

@MsBond – I have not gone all the way through the material yet, but I don't recall any overlap of BEC and FAR. However, to be through all the FAR material by November, I would just dive right in and get started. My test is actually scheduled for November 4th, and I am already fretting about having enough time to prep. This is my last test as well! We can do this!!!

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

[Iggy1985]

Ugh, I couldn't even tell you how that went today, felt like it was an out of body experience lol. On the plus side I finished everything, and found some weird quirk in one of my sims in the authoritative literature.

FAR - 89 (8/19/14) Wiley TB, Wiley Book, Books from School, Ninja Audio/Notes
AUD - 92 (10/14/14) Wiley TB, Wiley Book, Ninja Audio
BEC - 82 (5/8/15) Mostly Ninja MCQ, sprinkles of Becker lectures and Ninja Audio
REG - (8/14/15)

[Anonymous]

Iggy, glad to hear your still alive and kicking. Head over to the FAR exam thread and post your experience.

DM

[Author]

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