[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

[moreinfo2013]

Land is not depreciated, but you depreciate the building.

[Anonymous]

@jstay that helped a lot!! thanks so much!

[Anonymous]

Correct, so moreinfo2013, would you include depreciation exp in the JE or just leave it as Debit Land Credit Cash?

[jstay]

wouldnt it then be considered a “basket purchase” and you would need to allocate the costs among the land and building

[Anonymous]

I'm not sure, the JEs in the Fixed Assets section are pretty tough. I was just using the example they give in the wiley book and added the depreciation part to see if anything changes or not.

[Anonymous]

So would the change in the depreciation method from straight line to DDB be a change in accounting estimate, or a change in the accounting principle inseperable from a change in the accounting estimate?

[jstay]

change in principle inseparable from change in estimate

[Anonymous]

Cool thanks, I just did a simulation on it using the Ninja MCQ program. Do you know if there is a way you could purchase just the becker software instead of the entire course?

[moreinfo2013]

CPAHOPEFUL11 — Unfortunately it is not possible. I truly wish one could get the pass-master software without all the terrible so-called lectures.

[sstephenson]

All: I had a question about searching in the FASB Codification during Simulations. During Audit and Regulation, I was able to use the Authoritative Literature to help guide me with some Simulation problems but I have noticed that the Codification isn't as helpful. Am I missing something here or are you guys finding the same thing?

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

[jstay]

ive done 210 multiple choice questions today and i feel like im wasting time if im not studying FAR. what else should i do?

[Anonymous]

Check out the simulations in the Ninja MCQ as they are very similar to the ones you get on the test. I seriously should have bought this program a long time ago. There is a thread listing what every simulation is covers and you should try to do most of them aside from the research ones.

[jstay]

ughhhh lol im so tired of staring at the computer. i think im just gonna go write journal entries until my hand falls off

[Anonymous]

You will be surprised to see just how similar some simulations in Ninja are to the ones on the test. Writing journal entries isn't a bad idea either. Seems like you are already set to take the exam. When did you start studying?

[jstay]

end of May. im going into my senior year- last semester this fall- and i had 120 credits so i figured why not try and pass one before i start school this way i can (hopefully) be ahead of the game.

[Author]

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