[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

[Anonymous]

HI all!! It's been a while since I posted in the study group. I recently retook FAR (second attempt) on 5/25 and failed with a 73 🙁 however, not too upset because it was a dramatic increase from my first attempt at FAR in August 2013 of a 62! I also took it only because my nts was expiring 6/3/14 so I figured I might as well give it a shot instead of losing my $200. Didn't study too seriously and leading up to exam day didn't study for a week so I honestly thought I failed and began to restudy the next day so imagine the shock I got when I was two points shy of the promise land! I have re-scheduled for 7/7/14 and I am getting ready to start chapter six tomorrow. Good luck everyone and let's get this baby over with 😀

[Determined CPA]

JUST found out I passed BEC!! Was in the bubble for a while..that was no fun! I'm ready to get started with FAR! Good luck to us Q3 FAR takers!

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[j.ford]

Congrats Determined!!! Lets knock this FAR out…. Taking mine on the 6th(coincidentally my birthday) back to getting focused now that I know I passed BEC.

[Anonymous]

To everyone on the FAR study group, re-write your notes. I would have never thought it would do wonders for me but it has. Having a crisp understanding of the concepts and journal entries has enabled me to have a stronger approach to the MCQs and SIMs the second time around. Thanks to @Mamabear as well for doing progress tests per chapter after writing it down and studying it. Looking forward to July 3rd. Happy studying everyone.

[texasgirl]

I scheduled my exam on 7/8, feel so frustrated right now,… too many things to remember around 60% correct on the MCQ….

I don't understand this question in inventory: anyone could help?

Athens Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, Year 1. Its inventory at that date was $100,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows:

Date

Inventory at

Current Prices

Price

Indes

December 31, Year 2

$128,400

107

December 31, Year 3

145,000

125

December 31, Year 4

169,000

130

What is the cost of the ending inventory at December 31, Year 3, under dollar-value LIFO?

a.

$116,000

b.

$145,000

c.

$117,120

d.

$117,400

AUD- 71/71/86
REG- 91
BEC- 81
FAR- 7/20/2014

[Dan T]

seems you're not alone

https://www.another71.com/cpa-exam-forum/topic/becker-chapter-4-inventory-question

AUD - 75 ☺
FAR - 65, 71, 70, 77 ☺
BEC - 80 ☺
REG - 73, 66, 79 ☺ 2/28/15

Done!

[Determined CPA]

j.ford thanks!! im glad to see BEC behind me, as im sure you are!! A birthday test date? wow! I hope it brings you good luck =)

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[thwe77]

FAR is set for Aug 29, but I still haven't started studying yet. I just got 71 on BEC last week, so I will have to tackle that again. Then there is REG, which I failed badly just a month ago. So, I have 3 parts to pass all in this 3Q window. Any suggestion at all how to even start or where? I'm not too sure if that's even possible within this limited time frame. Thanks.

AUD - Passed! Expiring Sept 30, 2014
BEC - 71, 71, must pass by 3rd Q
REG - Failed badly first time.., must pass by 3rd Q
FAR - Aug 31, 2014, must pass by 3rd Q

[golfball7773]

Why do you need to pass all 3 this upcoming quarter?

FAR: 63, 55, 62
REG: 65, 77*
AUD: Fail, 64, 71
BEC: 72, 74, 81

*expired

[thwe77]

@golfball7773 because Audit is expiring September 30, so my deadline is essentially August 31 really unless I let it expire and retake, which I would really hate to, and I am going to try to avoid that.

AUD - Passed! Expiring Sept 30, 2014
BEC - 71, 71, must pass by 3rd Q
REG - Failed badly first time.., must pass by 3rd Q
FAR - Aug 31, 2014, must pass by 3rd Q

[golfball7773]

I can't see my self trying to cram 3 sessions in to one quarter. I would fear that I would fail all 3 due to not enough prep time then I would essentially be starting from zero when I could have 1 or 2 passed.

It could be possible. Do you work FT?

FAR: 63, 55, 62
REG: 65, 77*
AUD: Fail, 64, 71
BEC: 72, 74, 81

*expired

[Anonymous]

Selected data for two subsidiaries of Dunn Corp. taken from December 31, Year 1 pre-closing trial balances are as follows:

Banks Co. Debit Lamm Co.Credit

Shipments to Banks $ – $150,000

Shipments from Lamm $200,000 $0

Intercompany inventory $0 $50,000

profit on total shipments

Inventory acquired $175,000 $250,000

from outside parties

Inventory acquired from Lamm $60,000 $0

At December 31, Year 1, the inventory reported on the combined balance sheet of the two subsidiaries should be:

a. $470,000

b. $485,000

c. $435,000

d. $425,000

Could someone explain this to me?

[thwe77]

Yes, work full time and I'm a mom, too! 🙂

AUD - Passed! Expiring Sept 30, 2014
BEC - 71, 71, must pass by 3rd Q
REG - Failed badly first time.., must pass by 3rd Q
FAR - Aug 31, 2014, must pass by 3rd Q

[texasgirl]

@Determined CPA, thanks! but I still couldn't get it. 🙁

AUD- 71/71/86
REG- 91
BEC- 81
FAR- 7/20/2014

[Anonymous]

I am going to try and get 3 tests into Q3. FAR retake on July 1, AUD retake July 26 (have to get AUD retake in before July 26th, my wedding week begins July 27th), and BEC/REG somewhere in late August. Best way for me to stay on track with my goal of being done with the CPA by Christmas.

[Author]

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