[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]

@tootsie, random it or anyone else who can answer:

Need some more clarification on revaluation G/L. So 10K loss (from the example posted above) in the first yr will be reversed in yr 2 and there will only be 5K gain reported on OCI. On the I/S in yr 2 we will be reporting the 10K gain. So if the question asks what will be reported on I/S in yr 2: $10K gain…Correct?

[SIR AGE]

my understanding is that is you are right. Revaluation gains and losses always look to reverse each other before they are recognized in their respective place. (losses on I/S and gains in OCI)

AUD: 5/27 82!
FAR: 7/3 80!
REG: 7/21 76!
BEC: 8/8 78!

[RandomAlt]

@2014 CPA … That would be my interpretation as well. And a good question to ask to see if you are paying attention.

FAR - [10/07/2013 --> 66] [07/07/2014 --> 86]
BEC - [08/31/2014 --> 86]
AUD - [11/24/2014 --> 88]
REG - [02/14/2015 --> 92]

[Tootsie]

OMG, I finally understand revaluation now!! Yay! Thanks, @RandomAlt for providing those rules! 🙂 I was going nuts over this!!!!

And I'm kicking ass on the sims now, wuhoooooooooooo! I am gonna kill it!!

FAR - 76
AUD - 88!!! DONE!!!!!!!!
BEC - 76
REG - 77

never, never, never give up

[magatha12]

Oh lord, scoring 80% between different sets of NINJA MCQs and then 60% in others..need to focus!!!

FAR: 79
AUD: 81
REG:5/29/15
BEC:85

Using CPA Excel, NINJA notes and audio, NINJA MCQs

[jennibfox]

Magatha. I am in the same situation. I am averaging about a 74. Getting really nervous that will not pull me through. I haven't spent much time on sims. I will hit some but my main focus is on Mcq and understanding everything. I am going to make sure I know govt, NFp and ifrs. Then focus on my harder subjects. I have 3.5 days and I only have one commitment the rest of the time will continue to do Mcq and reviewing notecards. Hopefully work will continue to be slow. And I will make a 75!!!!

FAR - JULY 2014 - PASSED
BEC - MAY 2015 - PASSED
REG - AUG 2015 - PASSED
AUD - AUG 31 2015

[Dan T]

Ok can't I understand this, I usually dont have a problem with weighted average CS…

Balm Co. had 100,000 shares of common stock outstanding as of January 1. The following events occurred during the year:

4/1 Issued 30,000 shares of common stock.

6/1 Issued 36,000 shares of common stock.

7/1 Declared a 5% stock dividend.

9/1 Purchased as treasury stock 35,000 shares of its common stock. Balm used the cost method to account for the treasury stock.

What is Balm's weighted average of common stock outstanding at December 31?

a. 131,000

b. 139,008

c. 150,675

d. 162,342

Here's my calculation.

30,000 x 9/12 = 22500

36000 x 7/12 = 21000

35000 x 4/12 = 11666.67

(22500+21000-11666.67) x 1.05 = ~33425

WACS = 133425??

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

Done!

[princeCPA]

@Dan T

I calculated it this way:

100000+5000(stock dividend)=105000*3/12=26250

130,000+6500(SD)=136500*2/12= 22750

166000+8300(SD)= 174300*3/12= 43575

174300-35000=139300*4/12= 46433

Total 139008

Let me know if this is the correct answer.

BEC 79
FAR 86
AUD 79
REG 90

[thechapman]

@Dan T – What is the correct answer in Becker? I keep getting 135,983…

Passed - 2014

[Dan T]

Ahhh I see, I didn't include the original 100,000 CS and applied the stock dividend to the TS. Didn't know you weren't supposed to.

(100000+22500+21000) x 1.05 = 150675

150675- 11666.67 = 139008.

Thanks prince

You'r right correct answer is B

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

Done!

[thechapman]

When you guys are going back and reviewing sections you've already covered once, what do you usually consider an acceptable MCQ percentage to go ahead and move on??

Passed - 2014

[Anonymous]

@ chapman, I am redoing all regardless of how I did first time around cuz honestly I hv forgotten most of the stuff. Starting this Tuesday my goal is to redo all MCQs for yet another time till exam day on July 14.

[Tootsie]

I've been redoing the sims for each chapter. 8 more days of studying. I feel so much more prepared than the last time I took the exam. Good luck to those testing this week!

FAR - 76
AUD - 88!!! DONE!!!!!!!!
BEC - 76
REG - 77

never, never, never give up

[Anonymous]

I am self studying for my first attempt at FAR. I am using CPAexcel and been noticing many MCQs were not explained in the chapter, therefore my MCQ scores fluctuate a lot and has been frustrating me. Has anyone else noticed this in CPAexcel? I also have becker as my second resource and was contemplating switching entirely to becker instead of using this CPAexcel. I have about 2 months before the exam and already got through 3-4 chapters in CPAexcel. what are your guys' thoughts?

[thechapman]

@big bob – You will largely come across the same thing in Becker unless I am misunderstanding you. I use Becker and there are plenty of times that you have to connect a lot of the dots yourself as far as applying concepts taught in the book/lectures to MCQs. That's my opinion anyway

Passed - 2014

[Author]

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