[jeff]

Welcome to the Q3 2017 CPA Exam Study Group for FAR. 🙂

Introduce yourselves and let your fellow NINJAs know when you plan to take your FAR exam.

The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Wannafree]

@xyz107 , your assumption is right , in new format calculations based questions are now 80-90% .Yes you can budget but being under budget will be a challenge just like federal budget of Washington.
In new format the new “mantra” for FAR is solve MCQ at speed like Mr.Usain Bolt”

[Wannafree]

Yari_cookies , August is too far for FAR , stretching too far the FAR wouldn't help.It has lot of content and it is highly recommended to get over FAR ASAP.Most of us on this forum are studying like you max on weekend and Bud Light type study on weekdays.

[Wannafree]

@Vinti , you have asked a simple question at difficult times as majority here are at cross roads of Old and New Formats and not sure how to cross the FAR river.Once we see our score in August then we can say with reasonableness how much time will be required to complete FAR.
Many people have suggested in this forum 6-8 weeks can be considered good amount of time to complete the FAR materials.YMMV.

[setmefree]

@wannafree, thanks for the feedback. im currently using wiley and they think they did a good job in explaining the material. I think im just not having a good strategy in study, i rushed trhough the video. I think i should spend more time in reading the book. Simulation is the part that worry me the most. u are so close to be done. u will be free soon.

[WorkingMyAssetsOff]

My little sister came into my room while I was listening to a lecture and covered her ears yelling, “Thank God I am not an accountant”.

Why can't I be a kid again?

[quaymat321234]

Me too love cash flows <3

[Anonymous]

Those of you using Becker to study…. Are you going completely through each module (video, skills, and MCQ), before moving on to the next module? Or going through and all videos then back to do MCQ then SIMS?

[panic]

@chasinCPA I just started and am using Becker. Trying to go accordingly to the plan – lecture, skills & MCQ at the end of each module. I Want to do sims at the end of chapter. But this process is taking me a long time! I wonder if I should just skip the lectures. Or watch them all in one sitting to finish reading the chapter and then do the mcq. Idk. But that's what I'm doing

[Wannafree]

panic@now , “I wonder if I should just skip the lectures” and answer is big NO.
It is advisable to watch lecture for one chapter and finish your homework or MCQ then only move to next chapter otherwise it will be waste of time.
For FAR challenge is to retain the 10 chapters of content and if you don't take notes ( summary ) and do HW for one chapter at time ,you may not be able to retain.

[Anonymous]

@panic@now I was wondering the same thing. With AUD I was able to go through the lectures and then review MCQ & SIMs at the end. However, I feel I am not grasping the FAR content the way I was with AUD. It may be inefficient if I don't start grasping some content first. Looks like I'll be doing lectures, skills and MCQ before moving on for this one. Thanks for the feedback @wannafree

[CoachEmUp]

Question regarding the Wiley lecture on Retail Inventory Mehtod:

In a previous video we learned of the new standard being LIFO & Retail Inventory methods are subject to Lower of Cost or Market while FIFO & Weighted Avg methods have a new standard (matching IFRS) of Lower of Cost or Net Realizable Value.

But, in the retail inventory method lesson there were some questions that referred to FIFO lower cost or market valuation. Is this just a case of Wiley not taking out previous questions? Just was curious if anyone could point me in the right direction. The retail inventory method they explained in the video made sense, but then doing the questions it seemed totally different.

[maverick87]

Using Roger Review. Have gone through the first 4 sections. I'm doing a few sections at a time (read book, lectures, notes) then doing all of the MCQ and a few TBS. Review notes before and after questions. Going to take a practice exam 1 week before exam date then keep doing MCQ/flash cards/review notes until exam date.

Anyone else using Roger Review for FAR?

Does this sound like a good plan? I may purchase ninja questions for the last few weeks.

REG: 84
BEC: 76
AUD: August score release
FAR: First week of August

[jonm857]

So do you report AOCI on the balance sheet “net of tax”? Or do you report it at gross amount? I know you report it “net of tax” on the statement of comprehensive income.

B - 81
A - 87
R - 73
F - July 5th

[jonm857]

I don't understand this answer. To me you would debit cash and credit deferred revenue. Why are they recognizing revenue if there is no expense to match with?

B - 81
A - 87
R - 73
F - July 5th

[livloon]

Hi all!

I'm wondering if anyone has an outline of old Becker vs New Becker in terms of location of information. I see they moved everything around and would like to know where to look in my old notes for reference when making new notes.

Any help is appreciated! Keep at it everyone!

FAR- 71, 74, 7/19/17
AUD- 79 (PASSED)
REG- TBD- 5/31/17
BEC- 8/31/17

“Discipline is choosing between what you want now and what you want most”

[Author]

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